Asian equities fell at the end of a volatile week marked by conflicting views, as investors balanced optimism over technological advances with concerns over stretched artificial intelligence valuations. The MSCI Asia Pacific Index dropped 1.1%, putting the gauge on track for its worst week since early August. SoftBank Group Corp. shares led declines in Japanese chip-related stocks. Earlier, US equity benchmarks dropped for the second time in three sessions with AI-related firms such as Nvidia Corp. tumbling, while the VIX volatility gauge spiked. The MSCI All Country World Index is on track for its first weekly decline in four. The sentiment is set to carry over to Europe with contracts indicating a weaker open for equities. US stock-index futures edged up. Tesla Inc. advanced 1.6% in extended trading after its shareholders approved a $1 trillion compensation package for Chief Executive Officer Elon Musk. Investors who fueled the rally on expectations of Federal Reserve interest-rate cuts and AI-driven growth are now questioning whether the massive capital spending will deliver returns. Wall Street chief executives have also struck a more cautious tone recently, as the market’s gains since April’s slump increasingly rely on a narrowing group of stocks. The pattern of selloffs followed by dip buying emerged as earnings season wound down and investors grew more reliant on private data amid a lack of official economic reports during the ongoing US government shutdown. Investors have also been hit by conflicting views about the possibility of further rate cuts. While Thursday’s data release from Challenger, Gray & Christmas Inc., showed companies announced 153,074 job cuts last month, a slew of comments from Fed officials about inflation left traders wondering whether a December rate reduction will materialize. Cleveland Fed President Beth Hammack said inflation is a bigger risk than job weakness. Her Chicago counterpart Austan Goolsbee told CNBC that a lack of inflation data during the shutdown makes him uneasy about rate cuts. Governor Michael Barr said officials still have work to do on inflation while ensuring the labor market is solid. St. Louis Fed President Alberto Musalem said the central bank must keep downward pressure on inflation, cautioning that interest rates are approaching the level that would no longer provide that pressure. Last week, Chair Jerome Powell warned that a rate cut in December isn’t a foregone conclusion. Investors are still pricing about a 70% chance of a rate reduction. Treasuries steadied during Asian trading after 10-year yields had their biggest drop in a month in the previous session on rate-cut bets. Elsewhere, a Bloomberg gauge of the dollar edged up 0.1% after sliding the most since mid-October. In commodities, oil inched higher Friday but was set for a second weekly drop, as supply increases around the world heighten concerns about the size of a forming glut. Gold edged up, hovering around the $4,000-an-ounce level. Meanwhile, China’s exports unexpectedly contracted in October during a period of renewed tensions with the US, dealing a blow to an economy already at risk of a slowdown in the final months of the year. Back to AI, the sudden focus on the financing needs of OpenAI — the maker of ChatGPT — and other companies in the industry came after remarks from Wall Street executives about frothy tech valuations. Their warning fueled jitters in the market earlier in the week, leading to a 2.1% drop in the tech-heavy Nasdaq 100 Index on Tuesday. After recouping some of that loss on Wednesday, the index slid another 1.9% on Thursday. It’s now down almost 4% from its last record on Oct. 29, though still up nearly 20% so far this year. US After Hours FROG +26.9%, GMED +22.5%, TNDM +20.3%, LASR +17.4%, EXPE +14.8%, AFRM +11.9%, SNDK +7.1% higher on earnings; PSIX -22.5%, AAOI -16.8%, OLED -15.1%, DKNG -8.3%, TTWO -7.1% lower on earnings.
Nikkei -1.22% Hang Seng -0.93% CSI -0.21% Shanghai -0.15% Shenzen -0.12%
Eur$ 1.1533 CNH 7.1261 CNY 7.1235 JPY 153.48 GBP 1.3117 CHF 0.8077 RUB 81.2290 TRY 42.1994 WTI$ 59.94 +0.82% Gold 4,001 +0.62% BTC 102,040 +0.95% ETH 3,355 +0.91% SOL 157.33 +0.57%
S&P +0.25% Nasdaq +0.32% EuroStoxx +0.12% FTSE -0.06% Dax +0.12% SMI +0.15%
Macro :
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Keep an eye on :
Keep an eye on :
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- APAM NA : Aperam 3Q Adjusted Ebitda Misses Estimates
- AKE FP : Arkema Cuts FY Ebitda Forecast
- AMV0 GY : Aumovio Now Sees FY Adj. Ebit Margin Upper End of 2.5% to 4%
- BAYN GY : Bayer Names Judith Hartmann CFO to replace Wolfgang Nickl
- IAG LN : IAG 3Q Revenue Misses Estimates
- BRNL NA : Brunel 3Q Ebit EU11.9M
- CLNX SM : Cellnex Plans Up To €500 Million Share Buyback to Boost Stock
- CC US : Chemours 3Q Adjusted EPS Misses Estimates
- CLASB SS : Clas Ohlson Oct. Sales +8%
- CMCOM NA : CM.com Rejects ‘Unsolicited Approach’ by Bird
- DTG GY : Daimler Truck 3Q Adjusted Ebit Misses Estimates
- DKNG US : *DRAFTKINGS SINKS 8% AFTER CUT TO YEAR REVENUE OUTLOOK
- DBX US : Dropbox Rises But Analysts Note Growth Concerns: Street Wrap
- LLY US : FDA Selects Casgevy, Orforglipron, Wegovy for 2nd Voucher Batch,
- ENSU NO : Ensurge Gets Subscription From Svelland for Entire Placement
- EQT SS : EQT to buy 37.6% stake in S.Korea’s Douzone Bizon for $930m
- EXPE US : Expedia Raises Full-Year Outlook, Citing Resilient Travel Demand
- F US : Ford Considers Scrapping Electric Version of F-150 Truck -- WSJ
- GBLB BB : GBL 9M Cash Profit EU311M Vs. EU315M Y/y
- GET FP : Getlink Oct. Passenger Shuttle Traffic Y/y +4%
- GPI IM : GPI’s Stake Sale Is Said to Attract BC Partners, TA Associates
- GUBRA DC : Gubra Now Expects 2025 CRO Revenue 5%-10% Below 2024 Levels
- HALO US : Announces Proposed Offering of $650 Million of Convertible Senior Notes due 2031 and $650 Million of
- HAG GY : Hensoldt 9M Adjusted Ebitda EU211M Vs. EU187M Y/y
- INPOST NA : InPost 3Q Revenue Beats Estimates
- ICOS IM : Intercos 3Q Revenue EU260.7M Vs. EU275.2M Y/y
- ITV LN : Sky Owner Comcast Is Said in Talks to Buy ITV’s Broadcasting Arm, *ITV BROADCAST UNIT MAY BE VALUED AT ABOUT $2B IN DEAL: SOURCES
- DEC FP : JCDecaux 3Q Adjusted Revenue Meets Estimates
- KRN GY : Krones 3Q Ebitda Beats Estimates
- MOBN SW : Mobimo Nominates Markus Schürch as New Chairman
- BMPS IM : Monte Paschi 3Q Net Income Beats Estimates
- NOVOB DC : Novo Nordisk Sees 2026 Sales Hit From US Drug Price Deal
- NOVOB DC : Novo Nordisk Sweetens Bid for Obesity Drug Startup Metsera
- NVDA US : Nvidia CEO Says No Plans to Ship Blackwell AI Chips to China
- PIRC IM : Pirelli 3Q Adjusted Ebit Beats Estimates, Pirelli Seeing Solid Growth, Guidance Confirmed
- PIRC IM : Pirelli 3Q Adjusted Ebit Beats Estimates, Pirelli Seeing Solid Growth, Guidance Confirmed
- PIRC IM : Sinochem Seeks Advisers to Find Solution for Pirelli: Corriere
- PAH3 GY : Porsche Weighs Gradual Withdrawal From China, Focus Reports
- PROX BB : Proximus FY Capital Expenditure Forecast Beats Estimates
- RNO FP : Renault to Review Mobilize, Engineering Operations in Overhaul
- SAP GY : SAP Set to Offer Concessions to Settle EU Antitrust Probe: Rtrs
- MSTR US : Michael Saylor Turns to Europe for Bitcoin Bet
- TPR US : Coach Says China Demand Improves but Challenge Remains
- TSLA US : Tesla Shareholders Approve $1 Trillion Pay Package for Musk (4)
- TKO FP : Tikehau Capital Holder Temasek Offers About 1.25m Shares: Terms
- UNI IM : Unipol 9M Consolidated Net EU1.12B Vs. EU724M Y/y