Monday’s relief rally looked like a one-day wonder on Tuesday as stocks slid in the wake of confusing signals over U.S.-China trade talks. The yen advanced and Treasury yields dropped.
Stocks fell in Japan, Korea and Australia and fluctuated in China after media appearances Monday with Trump administration officials shed little light on the specifics of how Sino-American trade negotiations will progress. Futures on the S&P 500 Index slumped amid fading cheer about the suspension of new tariffs, and the dollar declined. The inversion of portions of the Treasury yield curve for the first time since 2007 reinforced the impression that markets are approaching the end of the current cycle.
US After Hours RH +20%, SMAR +4% are higher, while CRUS -7% and COUP -3% are lower following earnings/guidance
Nikkei -2.39% Hang Seng -0.20% CSI +0.18% Shanghai +0.38% Shenzen +0.38%
Eur$ 1.1389 CNH 6.8356 CNY 6.8412 JPY 113.08 GBP 1.2743 CHF 0.9957 RUB 66.3720 TRY 5.2451 WTI$ 53.53 .1.11%
S&P -0.49% FTSE -0.35% Dax -0.62% SMI -0.34%
Macro :
- Macron Exposed on Twin Fronts as French and German Risks Collide
- Wacker Chemie to Leave Stoxx Europe 600, Knorr Bremse to Join
- Tire Suppliers More Promising Than Auto Parts, Jefferies Says
- Hedge Funds Should Fear Market Whimpers, Not Bangs: Mark Gilbert
- JPMorgan Asset Says Cash Better Than Stocks First Time in Decade
- France, Germany Reach Compromise on Watered-Down Technology Tax
Keep an eye on :
- ADO GY : ADO Takes Loan Over EU90m, Refinances Current Loan Liabilities
- ALCAR FP : Carmat Names Jean-Pierre Garnier Chairman
- ALM SM : Almirall to Refinance EU400 Million Bridge Loan
- AAPL US : Apple Cut to Hold at HSBC as ‘Core iPhone Business to Slow’
- AECAD NA : *ARCADIS PITCHED AS SHORT BY SHADOWFALL'S EARL AT TILSON CONF
- AXA NO : Axactor SE: Registered Office to Be Relocated to Norway Dec. 20
- BARC LN : Linde Replaces Barclays in STOXX Europe 50 Index
- BMW GY : All Electric Car Subsidies to End in Near Future, Kudlow Says
- BPOST BB : Bpost Raises Payout Ratio to 92% to Maintain Interim Dividend
- ALCLS FP : Allogene to Use UCART19 Results to Better ALLO-501 Study Design
- CON GY : Tire Suppliers More Promising Than Auto Parts, Jefferies Says
- CRON CN : Cronos Rises After Confirming Talks With Altria On Investment
- DANSKE DC : Danske Says BlackRock Increases Stake in Bank
- DTE GY : Deutsche Telekom Says Huawei Can’t Spy Through 5G Network: Welt
- DIE BB : Belgian Nov. Car Registrations Drop 15%; D’Ieteren Has 20.4%
- DOM SS : Dometic Acquires Kampa for GBP 50 Million Cash
- ELIOR FP : Elior Group FY Rev. EU6.69B, Est. EU6.66B
- ENEL IM : Enel to Invest 4b Euros in Brazil Over Next 3 Years
- GSK LN : Tesaro Is Wrong Medicine for Glaxo's Pharma Comeback: Max Nisen
- ICAD FP : Icade Completes Sale of Paris Sites for EU434m
- DEC FP : JCDecaux to Purchase Majority Stake in Belgium’s Publiroute
- DBK GY : German Probe Zeroes in on Tiny Unit Sold by Deutsche Bank: FT
- KBX GY : Wacker Chemie to Leave Stoxx Europe 600, Knorr Bremse to Join
- LIN GY : Linde Replaces Barclays in STOXX Europe 50 Index
- LSE LN : Experian’s Don Robert Seen in Lead to Succeed Brydon at LSE: Sky
- MTMY LN : Matomy Media Reports Outline of Proposed Plan With Bondholders
- NEO FP : Neopost 3Q Sales EU265m, Organic Growth 0.2%
- NESN SW : Nestle CEO Sees U.S. Driving Health-Product Sales to $3 Billion
- PLT IM : Sofil Reaches 95.8% Stake in Parmalat, to Pursue Squeeze-Out
- RAIVV FH : Raisio Targets Net Sales EUR260M, Comp Ebit of EUR32M in 2021
- RNO FP : Nissan Ex-Chair Ghosn to Be Re-Arrested: Sankei
- RNO FP : Nissan Outside Board Members Said to Meet to Discuss Chair Post
- ROG SW : Roche: Venclexta Data Show Continued Benefit, ’Deep Remission’
- ROG SW : Genentech’s Hemlibra Study Met Primary and Secondary Endpoints
- ROSE SW : Zur Rose: KWE Stake Won’t Return to Pre-Issue Level After Glitch
- SAN FP : Bioverativ’s BIVV001 Shows 44-Hour Factor VIII Halflife
- UNI SM : Unicaja Reduces Planned Jobcuts to 800, Expansion Reports
- UNA NA : Polman Said to Top Nestle by $1 Billion in Swansong Horlicks Bid
- 6861 HK (V3 Group) : KKR Takes Stake in Luxury Retailer V3 With S$500m Investment
- VOW3 GY : Volkswagen of America Reports November 2018 Sales Down 8%
- WCH GY : Wacker Chemie to Leave Stoxx Europe 600, Knorr Bremse to Join
- WG/ LN : Doosan Heavy Considering Bid for EthosEnergy: Invest Chosun
- ZAG AV : Zumtobel Second Quarter Revenue Beats Highest Estimate