Global stocks edged toward record highs as investors shrugged off concerns about elevated oil prices and bond yields near multi-decade highs. A tech-led rally on Wall Street pushed the Nasdaq 100 Index to a record close, while gains in megacaps including Nvidia Corp. and Microsoft Corp. left the S&P 500 Index within 0.5% of its all-time peak. MSCI’s Asia Pacific gauge rose 0.1% Tuesday, leaving it about 2% below its record. The All Country World Index, a key barometer of global equities, was less than 1.5% below its August high. Sentiment toward stocks remained buoyant, with equity-index futures for Europe and the US pointing to further gains. Meanwhile, Treasuries extended losses, with the yield on the US 10-year note edging up one basis point to 5.32%, around levels last seen in 2002. The rate-sensitive two-year yield climbed two basis points to 4.83%. Billionaire Ray Dalio warned that the Treasury market is vulnerable to a pullback of demand from China and Japan. Stock markets have largely looked through last month’s Federal Reserve interest-rate hike, elevated energy costs and renewed inflation concerns that sent global bond yields soaring. Instead, investors have focused on strong earnings, resilient consumer spending and surging artificial intelligence-related investment to drive benchmarks higher. Money is flowing into companies that have strong earnings, low dependence on borrowing and relatively little sensitivity to the broader economic cycle, he said. In other corners of the market, gold slipped 0.2% to about $4,130 an ounce. Brent crude climbed 0.4% to about $100.75 a barrel, paring some of Monday’s losses. A Bloomberg gauge of the dollar held its gains made on Monday, when it climbed to the highest level since June. The euro consolidated near a 17-month low after the French central bank governor warned about rising borrowing costs. Investors also await Marine Le Pen and her far-right party’s alternative budget proposals on Tuesday, alongside a plan for deficit reduction during a five-year presidential term. Government bonds in Japan, Australia and New Zealand fell, tracking declines in Treasuries during US trading. With the economic calendar light this week and no major data releases due, investors are looking for the next catalyst to set the direction for markets. Asian markets “look muted” as investors are in something of a “lull” between the heavy central-bank calendar of late September and the next major US earnings season, said Tim Waterer, chief market analyst at KCM Trade. US After Hours NEO -3.8% lower on earnings.
Nikkei +1.13% Hang Seng +0.70% CSI Closed Kospi -0.86% Shanghai Closed Shenzen Closed
Eur$ 1.1219 CNH 6.7029 CNY 6.7064 JPY 158.07 GBP 1.3218 CHF 0.8314 RUB 84.8510 TRY 49.1764 WTI$ 89.65 Gold 4,128 -0.07% BTC 85,580 ETH 2,703 -0.33%
S&P +0.10% Nasdaq +0.13% EuroStoxx +0.40% FTSE +0.34% Dax +0.36% SMI +0.42%
Macro :
- OpenAI in $30 Billion Round Talks With UAE Funds, BlackRock
- Yemen Says It Retook Mocha as Battle for Bab El-Mandeb Looms
- Ray Dalio Warns China, Japan May Pull Back From Treasuries
- Ray Dalio Warns China, Japan May Pull Back From Treasuries
Keep an eye on :
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- BNP FP : BNP Paribas Says Annie Pin to Become Arval CEO From April 1
- BA US : Boeing Wins ~$14.7b Contract To Triple PAC-3 MSE Output
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- CVC NA : CVC, GBL Raise Recordati Offer to €53.00/Share
- GBLB BB : CVC, GBL Raise Recordati Offer to €53.00/Share
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- MAT US : Barbie-Maker Mattel Faces Growing Shareholder Pressure to Consider a Sale
- OR FP : L'Oréal Taps Advisers to Explore Unloading Chemical-Related Liabilities -- WSJ
- PIA IM : Turkey’s Celik Motor Signs Distributorship Deal With Piaggio
- RBI AV : Raiffeisen Says Rasperia Windfall May Help Bank Exit From Russia
- SAB SM : CVC, GBL Raise Recordati Offer to €53.00/Share
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- REC IM : CVC, GBL Raise Recordati Offer to €53.00/Share
- RNO FP : Renault Says Michelin’s Damois to Become CFO From Nov. 14
- STX US : Seagate Is Said to Battle Toshiba for TDK’s Hard-Drive Head Unit
- SPIE FP : SPIE SA: SPIE Buys Clauser in France
- SYRE US : Spyre Therapeutics Offering of 4.12m Shares Prices at $85/Share
- 700 HK : DeepSeek to Raise at Least $12 Billion in Tencent-Backed Funding
- TRMDA DC : Torm Holder OCM Offers Shares for Up to 41.05 in Block: Terms
- 8TRA GY : EU Blocks €26m Polish Aid for MAN Trucks Factory Expansion
- UCG IM : Putin Signs Order on Reorganization of UniCredit Russia Unit
- PCVX US : Vaxcyte Is Said to Offer Up to 2% Coupon On Convertible Bond
- WIE AV : Wienerberger Prelim 3Q Revenue Misses Estimates