Asian shares rose alongside US futures as investors looked past further stress among regional American banks to the prospect of the Federal Reserve reversing its policy-tightening campaign. Stocks in Hong Kong opened higher while Australian equities erased a morning decline, tracking gains in US futures. Europe stock futures also rose. A gauge of Asian shares is set for its best week in three, led by a 1.1% increase in the financial sector, suggesting the region is relatively insulated from the US banking turmoil. Instead, markets in the region benefited from a weaker dollar, with swaps pointing to bets on a US rate cut by July. The Bloomberg dollar index fell for a fourth day and faces its worst week in more than a month. The policy-rate sensitive two-year Treasury yield has dropped 22 basis points this week, the most since early March. A small advance for oil placed the commodity on track for its first gain in five days after a decline on signs of weaker demand dragged the price more than 10% lower this week. Gold held gains of around 3% this week.
Bourses in Japan and South Korea were closed for a holiday. Australian and New Zealand yields were broadly flat Friday. Treasuries won’t trade in Asian hours given the holiday in Japan. Another unsettling round of trading halts hit US lenders including Western Alliance Bancorp, PacWest Bancorp and First Horizon Corp. in a deepening rout that boosted havens including the yen. Apple Inc. rose in late hours after reporting earnings. Nevertheless, Wall Street’s fear gauge, the Cboe Volatility Index (VIX), spiked to hit the key 20 mark. That’s a stark contrast with the calm that prevailed in markets for the most part in April and saw the measure dropping below 16 just last week. Traders are also gearing up for Friday’s key jobs report, following data that showed applications for US unemployment benefits rose by the most in six weeks while continuing claims fell. US After Hours Busy earnings night, led by AAPL +1.9%; CVNA +25.9%, YELP +9.9%, COIN +8.6%, DBX +7%, LYV +6.8%, DASH +3.6% also higher; TRUP -36%, LYFT -15.3%, TEAM -12.7%, MPWR -10.7% lower on earnings.
Nikkei +0.12% Hang Seng +0.54% CSI -0.41% Shanghai -0.57% Shenzen -0.95%
Eur$ 1.1042 CNH 6.9160 CNY 6.9105 JPY 133.95 GBP 1.2605 CHF 0.8840 RUB 78.0738 TRY 19.4967 WTI$ 69.20 +0.93% Gold 2,047 -0.17% BTC 29,265 +1.31% ETH 1,900 +1.12%
S&P +0.33% Nasdaq +0.42% EuroStoxx +0.33% FTSE +0.34% Dax +0.22% SMI +0.18%
Macro :
- The Real Oil Market Shows $20-a-Barrel Collapse Is Excessive
- BofA, Goldman Strategists See Muted 2023 Global Earnings Growth
Keep an eye on :
Keep an eye on :
- ADS GY : *ADIDAS 1Q OPERATING PROFIT BEATS ESTIMATES, FY OUTLOOK AFFIRMED
- AENA SM : *AENA SEEKS INTERIM DEAL WITH DUFRY ON DUTY FREE OPS: EXPANSIÓN
- AF FP : Air France-KLM Prepares for Busy Summer as Bookings Come Back
- AF FP : Air France-KLM 1Q Ebitda Misses Estimates
- AKER NO : Aker 1Q Net Asset Value per Share NOK803 Vs. NOK900 Q/Q
- AKE FP : Arkema 1Q Ebitda Beats Estimates
- AAPL US : Apple Rises as Strong Sales Defy Challenging Macro
- AAPL US : *APPLE AUTHORIZES INCREASE OF UP TO $90B TO BUYBACK; BOOSTS DIV
- BMW GY : BMW Warns Owners ‘Do Not Drive’ 90,000 Cars Recalled Over Airbag
- BPOST BB : Bpost 1Q Adjusted Ebit Misses Estimates
- IAG LN : Iberia CEO Sanchez-Prieto to Leave, Interim Head Appointed
- IAG LN : IAG 1Q Adjusted Operating Profit Beats Estimates
- BRNL NA : Brunel 1Q Ebit EU15.8M Vs. EU15.6M Y/y
- BCHN SW : Burckhardt Prelim FY Sales About CHF830M
- CABK SM : CaixaBank Sees FY Net Interest Income Above EU8.75B
- CAST SS : Castellum Offers 164.2m Shares at SEK62/Share
- CLN SW : Clariant 1Q Adj. Ebitda Misses Ests., FY Outlook Affirmed
- CLASB SS : Clas Ohlson April Sales +1%
- CCAP GY : Corestate Capital to Implement Alternative Restructuring Concept
- CSGN SW : UBS Weighs Options for Sale of Credit Suisse’s Swiss Unit: Rtrs
- CTT PL : CTT 1Q Net Income EU16.1M Vs. EU5.4M Y/y
- DUFN SW : Dufry Enlarges Revolving Credit Facility by €180M to €2.27B
- EDP PL : EDP 1Q Net Income Beats Estimates
- GALP PL : Galp 1Q Adjusted Net Income Misses Estimates
- GAM SW : Xavier Niel Investor Group May Not Accept Liontrust’s GAM Offer
- GLEN LN : Glencore’s Teck Bid Should Be Blocked by Canada, Mining Vet Says
- IBE SM : *IBERDROLA SEEKS PARTNER FOR US WIND FARM KITTY HAWK: ECONOMISTA
- ICOS IM : Intercos 1Q Adjusted Ebitda EU29.8M Vs. EU19.1M Y/y
- ICOS IM : Intercos 1Q Adjusted Ebitda EU29.8M Vs. EU19.1M Y/y
- INSTA NO : Instabank Offering of 44.6m Shares Prices at NOK1.57/Share
- KRN GY : Krones 1Q Ebitda Beats Estimates
- MONC IM : Moncler 1Q Revenue Beats Estimates
- NEX FP : Nexans Gets TenneT Order With Initial €1.7B Value
- PSPN SW : PSP Swiss Maintains FY Adjusted Ebitda Forecast
- RBI AV : Raiffeisen Boosts FY Net Interest Income View, Beats Est.
- RUI FP : Rubis 1Q Revenue Misses Estimates
- SFQ GY : SAF-Holland SE Sees FY Sales High End of EU1.80B to EU1.95B
- SES SS : Scandinavian Enviro Systems Offers SEK250 million Shares
- SCATC NO : Scatec 1Q Ebitda Beats Estimates
- SOW GY : Software AG Says Silver Lake Boosts Offer to €32.00/Shr
- SREN SW : Swiss Re Asia Appoints Deanna Ong as New Chairperson
- TIT IM : *KKR SAID TO BE AVAILABLE TO RAISE BID FOR TELECOM ITALIA GRID
- TIT IM : Telecom Italia Asks for Higher Bids for Its Landline Network
- TIT IM : Telecom Italia Deems Netco Offers ‘Not Yet Adequate’
- TKA AV : Telekom Austria Extends Board Mandate of Arnoldner, Plater
- TSLA US : Tesla Raises Prices of Premium S, X Models by $2,750 in China
- HO FP : Thales 1Q Sales Beats Estimates
- THG LN : THG Breakup Chatter Unlikely to Quiet Down Unless Shares Rerate
- WBD IM : Webuild Unit Gets Contracts Worth €408m in Saudi Arabia