Chinese stocks led an otherwise lackluster day for Asian equity markets as US share futures rose to retrace a downbeat day for Wall Street ahead of US jobs data due later Friday. Stocks in Japan and Australia held to tight ranges and traded in and out of negative territory. Mainland China and Hong Kong stocks rose, helped along by signs of official support for the private sector. The People’s Bank of China said will step up its monetary support for the economy and help banks control liability costs at a Friday briefing. The comments followed a statement from the central bank in which it said it would increase funding support for the private sector after meeting with executives from the property industry. US equity futures rose, retracing Wednesday’s minor losses for the S&P 500 and Nasdaq 100. The advance in futures was helped by gains of around 8% in after-hours trading for Amazon.com Inc. following robust results. This helped to offset a 2% drop in post-market trade for Apple Inc. which undershot revenue expectations. The moves come ahead of crucial US nonfarm payrolls data due later Friday. Bill Ackman, founder of Pershing Square Capital Management, said he’s short 30-year Treasuries “in size” — as both a hedge against the impact of higher long-term rates on stocks and also as a standalone bet. Bill Gross, the one-time king of the bond world, noted he’s “overall bearish” on 10-year yields, while Berkshire Hathaway Inc. Chairman Warren Buffett told CNBC he had been buying Treasury bills and would likely continue. Tesla Inc.’s chief Elon Musk said that short-term T-bills are “a no-brainer.” A report Thursday underscored resilient US demand for workers, while separate numbers showed productivity jumped the most since 2020, blunting labor costs. Those figures preceded the government’s employment data — forecast to show the US added 200,000 jobs in July. While that would be the weakest print since the end of 2020, it’s still a strong advance historically. The steepening of the yield curve extended a trend since the Bank of Japan surprised markets last week with a policy tweak. At 4.88%, two-year yields are 71 basis points higher than those on the 10-year note. That’s compared to a gap of 102 basis points two weeks ago. Oil rose after Saudi Arabia prolonged its unilateral production cut by another month and hinted that deeper reductions may be on the way, putting futures on course for their sixth weekly advance and adding to inflationary pressure. US After Hours Busy earnings session; AMZN +9.4%, TEAM +22.9%, DKNG +11.7%, BKNG +10.9%, YELP +8.8%, CRUS +5.2% on upside; AAPL -2.5%, FTNT -16.8%, SYNA -12%, RDFN -10.6%on downside; CARG -11.6% falls on earnings delay; TUP +55.1% on debt restructuring deal.
Nikkei -0.18% Hang Seng +1.23% CSI +1.03% Shanghai +0.73% Shenzen +0.85%
Eur$ 1.0953 CNH 7.1874 CNY 7.1794 JPY 142.54 GBP 1.2731 CHF 0.8745 RUB 94.2928 TRY 26.9878 WTI$ 81.71 +0.23% Gold 1,935 +0.05% BTC 29,136 -0.51% ETH 1,832 -0.59%
S&P +0.42% Nasdaq +0.59% EuroStoxx +0.65% FTSE +0.30% Dax +0.45% SMI +0.28%
Macro :
- Bank of England Signals UK Faces Long Period of Higher Rates
- Yields Likely to See Fresh Highs If Crude Oil Extends Above $90
- Citi’s Manthey Says European Profit Misses Severely Punished
- JPMorgan Strategists Say European Earnings Underwhelm Versus US
Keep an eye on :
Keep an eye on :
- ABI BB : AB InBev CEO Sees Cost Inflation Easing Later This Year
- ANTIN FP : Antin 1H Underlying Ebitda Misses Estimates
- AAPL US : Apple Faces Longest Sales Slowdown in Decades as iPhone Slumps
- BITTI FH : Bittium 2Q Operating Profit Beats Estimates
- BNP FP : BNP Paribas to Launch Second €2.5B Buyback Tranche on Aug. 7
- BPOST BB : Bpost 2Q Adjusted Ebit Beats Estimates
- AFX GY : Carl Zeiss Meditec Sees FY Ebit Margin Low End of 17% to 20%
- CBK GY : Commerzbank 2Q Net Income Meets Estimates
- ACA FP : Credit Agricole 2Q Net Income Beats Estimates
- ACA FP : Credit Agricole Unit to Take Majority Stake in Degroof Petercam
- ACA FP : Credit Agricole Regional Banks to Buy Up to €1B CredAg Shares
- DBK GY : Suma Capital Hires Deutsche Bank for Tradeinn Sale: Expansion
- DIS US : Disney's ESPN Plots Its Streaming Future, Seeking Tie-Ups With Leagues and Rivals -- WSJ
- DOV IM : Italy’s Dovalue Confirms Franchi CEO in Rare Female Appointment
- DUFN SW : Dufry AG 1H Sales Beats Estimates
- FNTN GY : Freenet 1H Ebitda EU254.6M Vs. EU240.9M Y/y
- GAM SW : Liontrust Extends GAM Offer Period to Aug. 23
- IBS PL : Ibersol Says Fergie Buys 10.7% Stake in the Company from ATPS
- ICOS IM : Intercos 1H Revenue EU488.4M, Intercos Results Strong, But Outlook More Muted, Jefferies Says
- IMCD NA : IMCD 1H Revenue Misses Estimates
- LXS GY : Lanxess 2Q Adjusted Ebitda Beats Estimates (1)
- LSEG LN : LSE Teams up With Microsoft to Develop AI Models: FT
- LHA GY : Lufthansa Gains on Strong Travel Demand; Logistics Slows: React
- MAERSKB DC : *MAERSK SEES FY UNDERLYING EBITDA $9.5B TO $11B, SAW $8B TO $11B
- MOBN SW : Mobimo 1H Profit CHF34.3M Vs. CHF63.5M Y/y
- BMPS IM : Monte Paschi 2Q Net Income Beats Estimates
- OMV AV : OMV Petrom Awards EU1.6B Neptun Deep Contract to Saipem
- ROTH FP : Rothschild & Co 1H Net Income EU128M Vs. EU249M Y/y
- ROTH FP : Rothschild & Co 1H Net Income EU128M Vs. EU249M Y/y
- SPM IM : Saipem Wins Two Contracts for €1.8B, Boosting Europe Activities
- SPM IM : OMV Petrom Awards EU1.6B Neptun Deep Contract to Saipem
- SFER IM : Salvatore Ferragamo 1H Ebitda Beats Estimates
- SAN FP : *ASTRAZENECA, SANOFI RSV DRUG WINS SUPPORT FROM CDC PANEL
- SAS SS : SAS Seeks More Time on Bankruptcy Plan to Win EU Signoff
- SAS SS : SAS Seeks More Time on Bankruptcy Plan to Win EU Signoff
- SCANFL FH : Scanfil 2Q EPS Beats Estimates
- SIKA SW : Sika Boosts Full-Year Sales Guidance After MBCC Acquisition
- SREN SW : Swiss Re 1H Net Income Misses Estimates
- TRN IM : Terna CFO to Step Down From Post Aug. 31, Leave Company Year-End
- TOKMAN FH : Tokmanni FY Net Sales Forecast Beats Estimates (1)
- VIV FP : Warner Bros. Discovery Weighs Adding Sports Tier to Max Service
- VOD LN : UAE’s $60 Billion Firm Chases Global Deals Despite Vodafone Snag
- VNA GY : Vonovia 1H FFO I EU964.8M Vs. EU1.07B Y/y
- WPP LN : WPP Cuts FY LFL Revenue Less Pass-Through Costs Forecast
- XIOR BB : Xior 1H Net Rental Income EU69.3M Vs. EU49.8M Y/y