Stocks in Asia slipped as traders digested disappointing earnings from chipmakers that may foreshadow a wider decline in corporate profits. Uncertainty also increased ahead of US monthly payrolls data. The MSCI Asia Pacific Index dropped for the first time in four days, with tech shares the biggest losers. Samsung Electronics Co. reported a decline in profit for the first time since late 2019, underscoring the depth of a global PC and memory-chip downturn. Advanced Micro Devices Inc. slid in late US trading after worse-than-expected preliminary results. US equity contracts fluctuated following declines for a second day on Thursday, with the S&P 500 and tech-heavy Nasdaq 100 both ending near session lows. The Japanese yen weakened against the dollar toward levels that triggered direct market intervention last month, as traders test authorities’ tolerance for a depreciating currency. Treasuries and the dollar were both little changed. The US jobs report is forecast to show employers added another 255,000 workers in September. That would be the fewest jobs added in a month since a decline in late 2020. The drumbeat of hawkish comments from Federal Reserve officials kept stocks on the back foot for much of the US session Thursday, thwarting brief attempts to rebound. China’s foreign exchange reserves at the end of September fell to the lowest since 2017.
Oil topped $88 a barrel and gold fell. Bitcoin traded around $20,000. US After Hours Summary: AMD lowering Q3 guidance due to PC weakness causing many PC-related stocks to head lower; CVS -4.6% as Medicare issues 2023 Star Ratings; TWTR -1.4% trial stayed by Delaware court until Oct 28
Nikkei -0.75% Hang Seng -1.33% CSI -0.58% Shanghai -0.55% Shenzen -1.30%
Eur$ 0.9800 CNH 7.1000 CNY 7.1159 JPY 144.96 -0.01% GBP 1.1166 +0.21% CHF 0.9896 +0.03% RUB 60.8248 +1.67% TRY 18.5784 WTI$ 88.26 -0.23% Gold 1,712.40 -0.01% BTC 19,953 -0.49% ETH 1,355 -0.67%
S&P -0.31% Nasdaq -0.33% EuroStoxx -0.44% FTSE -0.26% Dax -0.35% SMI
Macro :
- AQR Trend-Following Strategies Return as Much as 70% in Big Year
- BofA Sees Year-End Rally for Loser Stocks on Tax-Loss Harvesting
- Crypto Hacked Again in $100 Million Theft of Binance Coin (3)
Keep an eye on :
- ADS GY : Adidas Puts Relationship With Kanye West’s Yeezy Under Review
- CINE LN : Netflix in Historic Deal to Give Theaters ‘Knives Out’ Debut
- CSGN SW ; Credit Suisse Offers to Buy 3 Billion Francs of its Own Debt
- DIS US : ESPN Said to Be Near Large New Partnership With DraftKings
- DRX LN : Drax CEO Says BBC Panorama Story Gave ‘False Impression’
- ETL FP : Eutelsat Says Satellite Broadcasts Being Jammed From Inside Iran
- FGP LN : UK to Grant Avanti Contract Renewal for West Coast Rail Line: FT
- INTER NA : CSC and Intertrust Get Clearance From Central Bank of Bahamas
- ML FP : Michelin Boosts Plant Automation to Counter Cost Inflation Shock
- NOVN SW : Adderall’s Second-Largest Maker Novartis Reports New Shortages
- NOVOB DC : Eli Lilly, Novo GLP-1 Drugs' Midterm Scope That Pfizer Eyes Too
- NYO NO : EU Opens In-Depth Probe of Norlisk Hydro, Alumetal Deal
- P911 GY : Porsche Tops Parent VW, Wizz Air Upgrade: EMEA Industrials Wrap
- SHEL LN : UK Opens Oil and Gas Licensing Round as Energy Crisis Grows
- STM FP : Nvidia and Intel Sink After AMD Preliminary Sales Miss Estimate
- STLA IM : Italy Sept. New Car Sales Rise 5.37% Y/y
- TTK GY : Takkt Narrows FY Ebitda Forecast
- TEMN SW : Activist Petrus Takes Temenos Stake Saying Stock in ‘Free-Fall’
- TSLA US : Tesla Shares Get Hit On Risk That Musk Must Sell to Buy Twitter
- TWTR US : Twitter Trial Against Musk Is Halted to Allow Deal to Close
- DG FP : Vinci to Build Germany’s First LNG Terminal; No Terms
- VOW3 GY : Europe’s Carmakers Scrap Growth Hopes, Ask Policy Makers for Aid