An Asian stock gauge struggled for traction Tuesday and US equity futures made modest gains as tightening monetary policy and Europe’s energy crunch continued to subdue investor sentiment. Both S&P 500 and Nasdaq 100 contracts were up less than 0.5%, while European futures retreated. Wall Street trading will resume later after the Labor Day holiday. Asia’s bourses were mixed, rising in China but down in Hong Kong. Treasuries dipped, led by shorter maturities, taking the two-year yield to 3.46%. An oil rally sparked by an OPEC+ output cut cooled on demand risks from China’s Covid lockdowns. A dollar gauge was in sight of a record high. The pound rebounded as traders assessed the agenda of incoming UK Prime Minister Liz Truss, who plans to alleviate energy bills in a policy that may cost £130 billion over 18 months. Australia delivered its fourth 50 basis points interest-rate hike and reiterated it’s not on a predetermined path in the push to curb inflation. Borrowing costs are rising in a slew of economies, tightening financial conditions globally and weighing on stocks and bonds. The offshore yuan fluctuated in the wake of China’s announcement of a cut in the amount of foreign-exchange deposits banks must set aside as reserves. Officials in China also plan to speed up stimulus, stepping up support for an economy saddled with Covid lockdowns, a property slump and power shortages. Bitcoin again fell below the $20,000 level, while gold made gains.
Nikkei +0.01% Hang Seng -0.25% CSI +0.62% Shanghai +1.10% Shenzen +0.85%
Eur$ 0.9964 CNH 6.9468 CNY 6.9387 JPY 140.90 -0.26% GBP 1.1590 +0.65% CHF 0.9788 +0.16% RUB 61.4601 TRY 18.2164 WTI$ 88.62 +2.03% Gold 1,718.60 +0.49% BTC 19,812 +0.36% ETH 1,659.30 +3.85%
S&P +0.39% Nasdaq +0.53% EuroStoxx -0.17% FTSE -0.18% Dax -0.09% SMI-0.10%
Macro :
- Austria Plans Energy-Support Measures for Industry: Nehammer
- Germany to Keep Nuclear Plants in Reserve to Ease Energy Crisis
- Germany Keeps Its Nuclear Plants Alive as EU Seeks Crisis Fixes
- OPEC+ Surprise Cut Is Symbolic, Yet Signals More Curbs May Come
Keep an eye on :
- ABN NA : ABN Amro Raises Revolving Consumer Credit Provision By ~EU120M
- AMG NA : AMG in Pact with EcoPro for Battery-grade Lithium Hydroxide
- ANIM IM : Anima Holding Aug. Net Inflows EU28M
- ARAMI FP : Aramis Group Appoints Laboure Hirsch as Group CFO
- BWLPG NO : BW LPG Sees Share Buy-Back Program to Continue Until End of Dec.
- DIE BB : D'Ieteren Boosts FY Adjusted Pretax Profit Forecast
- DUFN SW : Dufry Sees Annual Turnover Growth of 5% to 7% in 2025-2027
- EDP PL : Portugal to Lower Value-Added Tax Rate on Electricity Bills
- EQT US : US Gas Firm EQT Is Said to Near Deal to Buy Appalachia Producer
- HFG GY : Siemens Energy to Replace HelloFresh in Germany’s DAX Index
- MEKKO FH : Marimekko Raises L-T Goals, Focus on Scaling Profitable Growth
- MITRA BB : Mithra Issues 118,704 Shares at ~EU6.31 to Highbridge, Whitebox
- PAH3 GY : Volkswagen Board Says It Will Launch Porsche IPO
- RIO LN : Rio Tinto Reaches ‘Definitive Agreement’ to Buy Turquoise Hill
- RWE GY : Germany Keeps Its Nuclear Plants Alive as EU Seeks Crisis Fixes
- SAF FP : Safran Set To Buy Thales Aeronautical Electrical Systems Unit
- SFER IM : To report Results Postmarket today (6pm)
- ENR GY : Siemens Energy to Replace HelloFresh in Germany’s DAX Index
- SGFY US : CVS Agrees to Buy Signify Health for About $8 Billion (1)
- SN/ LN : Smith & Nephew Shares Rise After Betaville ‘Uncooked Alert’
- HO FP : Safran Set To Buy Thales Aeronautical Electrical Systems Unit
- UBI FP : JP Morgan Chase Raises Stake in Ubisoft to 15.63%: AMF
- UN01 GY : Uniper May Need Even More Funds From Germany as Prices Surge
- VOW GY : Volkswagen Board Says It Will Launch Porsche IPO