Stocks in Asia were steady Monday as investors keep watch on how price pressures impact monetary policy and the pace of economic recovery. Treasury yields rose.
Equities fell in edged lower in Japan, Hong Kong and South Korea. U.S. futures dipped after all major U.S. equity benchmarks climbed to records Friday, with the S&P 500 posting its fifth consecutive weekly rally. That was after a larger-than-forecast and broad-based gain in U.S. payrolls that also showed a jump in average hourly earnings.
Chinese stocks fluctuated as the Communist Party meets for the first time in more than a year this week. China posted a record monthly trade surplus in October as exports surged, underscoring support for the Chinese economy that’s slowed sharply in recent months.The gathering is expected to lay the ground for extending the term of President Xi Jinping, who has rattled markets with his “common prosperity” campaign to redistribute the nation’s wealth.
Federal Reserve Bank of Kansas City President Esther George said the risk of a prolonged period of elevated inflation has increased and the argument for patience has diminished. U.S. consumer prices on Wednesday are expected to show price pressures running at the hottest pace in three decades amid supply-chain bottlenecks and higher energy, according to Bloomberg Intelligence. . In the U.S., the House on Friday passed the biggest U.S. infrastructure package in decades.
Elsewhere, oil advanced as traders weighed the odds of a release of crude from the U.S. Strategic Petroleum Reserve after OPEC+ resisted a plea from President Joe Biden to boost supplies more quickly. Bitcoin traded around $65,000.
TSLA trading down after Twitter vote for Musk to sell 10% stake.
Nikkei - 0,35% Hang seng -0,62% CSI +0,09% Shanghai +0,16% Shenzen +0,38%
Eur$ 1,1562 CNH 6,3957 CNY 6,3975 JPY 113,56 GBP 1,3485 CHF 0,9131 TRY 9,6758 RUB 71,2820 WTI$ 82,83 GOLD 1,820 +1% BTC 65,465 +2589 ETC 4725 +100
S&P -0,19% Nasdaq -0,29% EuroStoxx -0,08% FTSE -0,04% Dax -0,17% SMI
Macro :
- Europe Relapses as Covid Hot Spot in Warning Sign for Recovery
Macro :
- Europe Relapses as Covid Hot Spot in Warning Sign for Recovery
- China Oct. Exports Rise 27.1% Y/y in Dollar Terms; Est. 22.8%
- EU Bank Selloff Signaled as Double Top Forms, Rate Run-Up Stalls
Keep an eye on :
Keep an eye on :
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- PTEC LN : Aristocrat Notes Playtech Got Preliminary Approach
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- SEM PL : Semapa Says CEO Castello Branco Resigns, to Be Replaced by Pires
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- SGRE SM : Siemens Gamesa Sees 2022 Underlying Ebit Margin +1% to +4%
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- SSIT LN : Space-Based Intelligence Startup Hawkeye 360 Raises $150 Million
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- VOD LN : +ve Barrons Article