Asian shares advanced for a third day, led by gains in China, amid relative calm and positive sentiment across financial markets. An Asia-Pacific stock index headed for its highest close in more than two weeks, with energy and materials companies pacing the rally. A gauge of the dollar slipped for a fifth day, while Treasury yields were little changed.
Japan’s Topix dropped as traders in the nation returned from Golden Week holidays, with a gauge of bank shares falling more than 1%. Shares of Chinese banks climbed after at least three nationwide lenders lowered deposit rates, while in Australia, Westpac Banking Corp. rose 1.8% after first-half net profit beat analysts’ estimates. Futures contracts for European stocks pointed to a muted start, while those for US equities fluctuated after the S&P 500 jumped 1.9% Friday to halt its longest losing streak since February. The benchmark climbed 1.9% as US regional banks rebounded while the VIX volatility gauge snapped a four-day surge. The Nasdaq 100 rose 2.1%, with Apple Inc. climbing almost 5% after its earnings exceeded forecasts. US payroll data published Friday showed hiring and worker pay gains accelerated in April in signs of labor-market resilience and inflationary pressures in the face of headwinds. The solid data has tempered fears of a US recession. The employments figures also increased speculation the Federal Reserve will keep interest rates higher for longer and potentially leave the door open to an 11th straight hike in June. Rates on swap contracts linked to Fed meetings — which on Thursday briefly priced in a cut in July — moved higher, to levels consistent with a stable policy rate until September, followed by at least two quarter-point cuts by year-end. Despite Friday’s stock rebound, investors still have much to worry about. The rout in US bank shares has the S&P 500 financials index on the verge of falling back below its 2007 peak. Investors are also awaiting the release this week of the US core consumer price index, which excludes food and energy and is closely watched by the Fed. It is projected to show a 5.5% increase in April from a year ago. In Asia, attention will swing to China’s trade figures due in the first half of the week and inflation numbers set for release on Thursday. oil ticked higher as investors assessed a complex outlook for global demand after a period of volatile trading. Gold gained.
Nikkei -0.60% Hang Seng +0.69% CSI +1.06% Shanghai +1.72% Sheznzen +0.40%
Eur$ 1.1039 CNH 6.9213 CNY 6.9162 JPY 134.74 GBP 1.2646 CHF 0.8894 RUB 77.7980 TRY 19.50061 WTI$ 71.80 +0.64% Gold 2021 +0.20% BTC 28,290 -2.30% ETH 1,870 -2.58%
S&P -0.08% Nasdaq -0.02% EuroStoxx +0.10% FTSE Closed Dax -0.01% SMI +0.20%
Macro :
- Jeremy Siegel Sees the Fed Lowering Rates by Year-End
- Jeremy Siegel Sees the Fed Lowering Rates by Year-End
- Russian Pro-War Writer Prilepin Injured in Car Bombing
- ECB’s Knot Vows More Rate Hikes Amid ‘Too High’ Core Inflation
- Bain Capital Seeks $4b for Global Special Situations Fund: Rtrs
- EU Plans Sanctions on Seven Chinese Cos. Aiding Russia War: FT
Keep an eye on :
Keep an eye on :
- ALM SM : Almirall 1Q Ebitda Beats Estimates
- ALO FP : Alstom Names Bernard Delpit EVP and CFO
- ALO FP : Alstom Names Bernard Delpit EVP and CFO
- MT NA : Numsa Signs Wage Settlement Pact With ArcelorMittal South Africa
- ASSAB SS : Fortune to Buy Assa’s Emtek, Schaub Brands for $800 Million
- BRK/A US : Berkshire Hathaway 1Q Operating Income Beats Estimates
- CA FP : Taiwan Approves Uni-President Takeover of Carrefour Taiwan
- CEPSM : Mubadala’s Cepsa in Talks to Buy Spain’s Ballenoil: Expansión
- ENI IM : Venezuela, Eni, Repsol Sign NGL Export Deal from Cardon Venture
- GREEN BB : Greenyard Prelim FY Adj. Ebitda Cont Ops About EU167M
- HOT GY : Hochtief to Replace Vantage Towers in Germany’s MDAX Index
- HYQ GY : Hypoport 1Q Ebit EU0.8M
- JUN3 GY : Jungheinrich 1Q Ebit Beats Estimates
- MMB FP : Lagardère SA Says It’s Not Party to Any Judicial Proceeding
- PNL NA : PostNL 1Q Revenue Beats Estimates
- REP SM : Venezuela, Eni, Repsol Sign NGL Export Deal from Cardon Venture
- VTWR GY : UniSuper Acquires A$1b Stake in European Firm Vantage Towers
- VTWR GY : Hochtief to Replace Vantage Towers in Germany’s MDAX Index
- VOW GY : Germany Seeks Power Price Cut in €30 Billion Aid to Industry
- VOW GY : Russia’s Gaz Group Files $200-Million Claim Against VW, IFX Says
- VOW GY : VW to Sack Top Executives at Software Unit Cariad, Reuters Says