Stocks rose Tuesday as a rally in the shares of Chinese state-owned enterprises injected strong upward momentum into the Asian trading session. . Stocks turned higher as choppy trading in Hong Kong gave way to a rally in the shares of Chinese state-owned enterprises, creating a tailwind that helped along US equity futures. Moves in major currencies and Treasuries remained subdued within narrow ranges as traders in Asia awaited more cues from Chinese policymakers and Federal Reserve Chair Jerome Powell. The rate on 10-year US government debt remained just below the closely watched 4% level. A gauge of greenback strength was down 0.1%. The Hang Seng China Enterprises Index jumped as much as 2.4% while the Hang Seng Index climbed as as much as 2%. Leading gains were Cnooc Ltd., China Petroleum & Chemical Corp. and China Construction Bank Corp. Later Tuesday, the Fed’s Powell will begin two days of testimony before Senate and House committees. He’ll have the chance of telegraphing how much more policy tightening he thinks is needed, ahead of a pivotal jobs report on Friday and the next US rates decision on March 22. The current lack of traction for US equity markets shows many investors are concluding a recent rally was probably overdone, with recession risks lingering as central banks worldwide indicate they’re unlikely to soon pivot away from strict monetary tightening. oil rallied as a shale executive projected America’s most prolific basin will soon peak. China’s tempered economic forecast limited crude’s upside. Gold edged higher. US After Hours WW +6.2%, AVAV +2%, TCOM +1.9% all up on earnings; CARA -28.2%, CVGW -15.7%, DOMO -4.4% (also names new CEO and CFO) all down on earnings, DXC -3.6% falling after ending discussions regarding possible buyout.
Nikkei +0.25% Hang Seng -0.85% CSI -1.45% Shanghai -1.05% Shenzen -1.97%
Eur$ 1.0691 CNH 6.9439 CNY 6.9383 JPY 135.95 GBP 1.2045 CHF 0.9298 RUB 75.4092 TRY 18.9038 WTI$ 80.69 +0.29% Gold 1,847.50 +0.04% BTC 22,466 +0.26% ETH 1,576 +0.60%
S&P +0.13% Nasdaq +0.14% EuroStoxx -0.07% FTSE +0.14% Dax -0.04% SMI -0.21%
Macro :
- Fast-Money Quants Are Buying Stocks as Human Traders Stay Put
- JPMorgan Favors Government Bonds, Sees Debt Selloff as Overdone
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus Reports Share Buyback For Long-Term Incentive Plan
- ARCH NO : Archer Offering of 1.04b Shares Prices
- ACR NO : *AXACTOR PLANS SALE OF €6B OF SPANISH SOURED LOANS: CONFIDENCIAL
- BANB SW : Bachem FY Ebitda Misses Estimates
- BNR GY : Brenntag Is Said to Consider Buying Back At Least 5% of Stock
- DOKA SW : Dormakaba 1H Adjusted Ebitda CHF184.6M Vs. CHF193.5M Y/y
- DUFN SW : Dufry AG FY Sales Beats Estimates
- EQT SS : BPEA EQT Is Said to Merge Tricor, Vistra in $6.5 Billion Deal
- FER SM : *SPAIN MULLS VETOING FERROVIAL'S PLAN TO LEAVE THE COUNTRY: PAIS
- GALE SW : Galenica Sees 2023 Sales +3% to +6%
- G1A GY : GEA Group Sees 2023 Adj Ebitda EU730M to EU790M, Est. EU734.9M
- HFG GY : HelloFresh 2023 Adjusted Ebitda Forecast Misses Estimates
- HEN3 GY : Henkel Sees 2023 Adjusted Ebit Margin 10% to 12%, Est. 10.8%
- HUBN SW : Huber+Suhner FY Ebit Meets Estimates
- SDF GY : Intrepid Potash 4Q Adjusted EPS Misses Estimates
- LISN SW : Lindt & Spruengli FY Ebit Meets Estimates
- META US : Meta Is Said to Plan Thousands More Layoffs as Soon as This Week
- MITRA BB : Mithra Pharma FY Revenue Beats Estimates
- NG/ LN : UK Grid Issues Energy Supply Warning for Tuesday Amid Cold Snap
- NEL NO : Nel Offering of 108m Shares Prices at NOK14.90/Share
- NEOEN FP : Neoen Launches ~€750M Rights Issue to Finance Investment Plan
- NEXI IM : Nexi 4Q Adjusted Ebitda Beats Estimates
- PDX SS : Paradox Interactive to Release Three Full Games in 2023
- RIO LN : Rio Tinto to Pay $15M Penalty to Settle Bribery Case: US SEC
- SAE GY : Shop Apotheke FY Revenue Meets Estimates
- SAE GY : Shop Apotheke CEO Stefan Feltens to Step Down
- SNAP US : Snap Surges as Push to Ban TikTok Gains Steam in US Congress
- STM FP : STMicroelectronics to Change Euronext Trading Symbols on Mar. 13
- STM FP : STMicroelectronics to Change Euronext Trading Symbols on Mar. 13
- TGS NO : TGS Sees Multi-Client Investments of Over $350m vs $320m-350m
- TIT IM : Macquarie CEO Says Media Reports About M&A Are ‘Speculation’
- TTE FP : Fuel Deliveries Blocked in All Refineries in France: AFP
- TWEKA NA : TKH FY Revenue Beats Estimates
- WW US : WW International 4Q Loss per Share Misses Estimates
- YAR NO : Intrepid Potash 4Q Adjusted EPS Misses Estimates
- ZAL GY : Zalando’s 2022 Earnings Beat Estimates After Profitability Pivot