Asian stocks swung between gains and losses as markets awaited a key US jobs reading that’s likely to guide the Federal Reserve’s policy outlook. The MSCI Asia Pacific Index was little changed as shares in South Korea and Australia rose, while those in Japan and China traded weaker. Futures contracts for US stocks were steady as traders refrained from big bets ahead of US nonfarm payrolls data. The dollar was little changed, while US Treasury yields edged higher. Traders have escalated rate-cut bets in the past week, emboldened by the slew of softer-than-forecast US data, the Bank of Canada’s decision to ease monetary policy, and bets the ECB would be the next to cut — a move confirmed on Thursday. Global stocks are on track for their first weekly gain in almost a month, while a Bloomberg gauge of global government bonds posted its longest rising streak since November on Thursday. In Asia, China’s exports jumped more than expected in May, boosting the growth outlook in the world’s second-biggest economy. Reserve Bank of Australia Deputy Governor Andrew Hauser is also due to speak after the nation’s growth almost stalled in the first quarter. Investors will be also be monitoring the Indian rupee as the nation’s central bank meets to decide interest rates, with economists seeing borrowing rates unchanged. The RBI can’t ignore the market’s negative reaction after Prime Minister Narendra Modi’s narrow election victory, but it’s unlikely to cut its rate on Friday, Bloomberg Economics’ Abhishek Gupta wrote in a note. “Cutting rates now – ahead of any reductions by the Federal Reserve — risks triggering capital outflows, which the RBI wants to avoid.” Elsewhere in Asia, more than a half of surveyed Bank of Japan watchers have forecast that the central bank will trim its government bond buying when authorities meet next week, with a growing number also looking ahead to a rate hike in July. Attention will then turn to the looming US jobs print, which is expected to show the US added 180,000 jobs in May while the unemployment rate held steady. In the run-up to the reading, US data included jobless claims that topped estimates and labor costs which increased by less than previously reported. Swap markets continued to pencil in the start of the Fed rating cut in November, with a strong likelihood it begins in September. Oil rose Friday, set for a third straight gain, as expectations waned that OPEC and its allies will allow the market to become oversupplied. Gold rose. US After Hours IOT -6.4%, DOCU -5.8%, MTN -5.7% lower on earnings; BMEA -59.6% lowers as FDA places clinical hold; EMR +1.7% to sell its remaining interests in Copeland JV.
Nikkei -0.11% Hang Seng -0.50% CSI -0.72% Shanghai -0.23% Shenzen -0.43%
Eur$ 1.086 CNH 7.2558 CNY 7.2453 JPY 155.77 GBP 1.2790 CHF 0.8902 RUB 89.0823 TRY 32.2784 WTI$ 75.65 Gold 2,382 BTC 70,961 +0.30% ETH 3,805 +0.16%
S&P +0.06% Nasdaq +0.12% EuroStoxx +0.02% FTSE +0.02% Dax -0.06% SMI
Macro :
- Morgan Stanley’s Shalett Sees Further Gains Ahead for US Stocks
- Ultra-Rich Families Fuel $20 Billion Private Equity Buyout Wave
- Waystar Said to Price IPO at Midpoint to Raise $968 Million
- SPAC Backers Prepare $1 Billion in New Vehicles: ECM Watch
Keep an eye on :
Keep an eye on :
- AAPL US : Apple to Debut Passwords App in Challenge to 1Password, LastPass
- ARAMCO B : Aramco Sale Set to Raise at Least $11.2 Billion for Saudi Arabia
- BATS LN : BAT Shares Rise as FDA Rescinds Juul Marketing Denial Orders
- BATS LN : BAT Shares Rise as FDA Rescinds Juul Marketing Denial Orders
- DISH US : Dish Network Is in Talks With Some Bondholders for New Financing
- DOV IM : DoValue Agrees to Buy Gardant in Cash, Share Deal
- EQT SS : EQT-Backed Waystar Is Said to Weigh Pricing IPO Around Mid-Range
- HTZ US : Hertz Weighs $700 Million Sale of Secured Debt Plus Convertibles
- KER FP : Kering Names Laurent Claquin Group Chief Brand Officer
- Kraken IPO : Kraken Said to Be in Talks for Pre-IPO Fund Raising Round
- NEM GY : Nemetschek’s GoCanvas Deal Expands Market, Buoys Position: React
- NIO US : Nio Shares Fall in Hong Kong After 1Q Revenue Misses Estimates
- QIA GY : Qiagen Boosts FY Adj. EPS View, to Discontinue NeuMoDx System
- SAN SM : Santander to Close German Payments Unit, Handelsblatt Reports
- 9984 JP : SoftBank’s Yanolja Said to Plan $400 Million IPO as Soon as July
- STLA US : Fiat Says $32,500 Electric 500s Already Available at US Dealers
- STLA US : Fiat Says $32,500 Electric 500s Already Available at US Dealers
- UNI IM : Unipol Gruppo: Reached 95% of Share Capital of UnipolSai
- DG FP : Hungary and Vinci Buy Budapest Airport in $4.7 Billion Deal