An Asian stock gauge rebounded Thursday from the lowest level since 2020 but the move trailed a Wall Street rally as the dollar renewed its climb and crude oil edged higher. Japan paced a 0.8% rise in the regional index that fell short of rallies of about 2% in the S&P 500 and Nasdaq 100 overnight. Hong Kong and China were subdued and US futures fluctuated as traders evaluated the stock revival. A dollar gauge rose and remains near a record. Greenback strength has rattled currencies like the yen and the pound, which earlier hit the lowest since 1985.
Treasuries held a climb, leaving the 10-year yield at 3.25%. Bonds got a boost from an oil plunge that put the spotlight on the possibility of cooling inflation. Australian 10-year yields slid as much as 12 basis points, with investors awaiting a speech by the nation’s central bank governor. While oil has trimmed some of its retreat, this week’s swoon flags demand risks from a wave of monetary tightening and China’s Covid travails -- the megacity of Chengdu extended a weeklong lockdown in most downtown areas. Central banks are walking a tightrope, raising interest rates sharply to tackle inflation while remaining leery of sparking a damaging economic contraction in the process. The uncertainty is whipsawing markets and has saddled equities and bonds with steep losses this year. Fed officials reiterated their determination to get inflation under control. Vice Chair Lael Brainard said interest rates will need to rise to restrictive levels, while cautioning risks would become more two-sided in the future. Chair Jerome Powell is due to speak on Thursday. US After Hours AEO -14.2% falls on EPS miss, will pause dividend; others down on earnings/guidance: CURV -11%, AVAV -5.2%, DSGX -4%, MKC -3.5%; ASAN +17.7%, GME +11.3% higher on earnings; W -7.5% falls on convertible offering
Nikkei +2,05% Hang Seng -0,41% CSI +0,08% Shanghai +0,01% Shenzen 60,32%
Eur$ 0,9988 CNH 6,9747 CNY 6,9679 JPY 144,19 GBP 1,1509 CHF 0,9780 RUB 61,6560 TRY 18,2328 WTI$ 82,67 +0,7% Gold 1,715 -2% BTC 19,250 ETH 1,631
S&P +0,08% Nasdaq +0,13% EuroStoxx +0,54% FTSE +0,16% Dax +0,48% SMI +0,35%
Macro :
- China Megacity Chengdu Extends Lockdown as Covid Cases Rise
- China Overtakes US With $306 Billion Corporate Credit Boom
- Germany Plans to Extend Bankruptcy Aid Programs: Habeck to RND
- Goldman Lifts Forecasts for Fed Hikes in September and November
Keep an eye on :
- AKER NO : Kongsberg, PGS, Var Energi to Be Included in Norway’s OBX Index
- AAPL US : Apple iPhone 14 Lacks Upgrades, Unlikely to Fuel Sales: React
- ASTO LN : Parmenion Owners Prepare Stake Sale at GBP400m Valuation: Sky
- AVST LN : HomeServe to Replace Avast in FTSE 100 Index
- BAR BB : Barco Sees Ebitda Margin Over Next Three Years Between 14%-18%
- BASLN SW : Basilea Pharmaceutica Basilea: Sale of Preclinical Oncology
- CABK SM : Spain to Increase Caixabank Stake to 17% From 16%: Confidencial
- CA FP : Carrefour, Auchan Probed Over Alleged $1.8 Billion Italy Fraud
- CRI FP : Chargeurs 1H Recurring Operating Profit EU25.4M Vs. EU34M Y/y
- ACA FP : Credit Ag Confirms Intention to Buy ~4.8% of Credit Ag Egypt
- DIS US : Disney CFO Says ESPN Is a Key Part of Company’s Portfolio
- EDPR PL : EDPR Completes Purchase of Two Solar Energy Projects in Vietnam
- EQT SS : EQT Secures $2.5 Billion in Credit Lines for Acquisition
- ENX FP : Euronext Aug. Total Cash Market Transaction Value M/M -3%
- EXO IM : Exor 1H Net Income EU265M Vs. EU838M Y/y
- GSK LN : Oxford Vaccine Raises Hope for Second Malaria Shot Following GSK
- GSAT US : Iridium Communications Sinks as Globalstar Reports Apple Pact
- GRF SM : Grifols Gets 15-Year Contract to Supply Canadian Blood Services
- HAFNI NO : Hafnia Holder Oaktree Capital Management Offers 44.1m Shares
- HELN SW : Helvetia 1H Business Volume CHF6.80B Vs. CHF6.94B Y/y
- HSV LN : HomeServe to Replace Avast in FTSE 100 Index
- IBE SM : Iberdrola Plans to Invest as Much as EUR3b in Australia
- KOG NO : Kongsberg, PGS, Var Energi to Be Included in Norway’s OBX Index
- DRLCO DC : Maersk Drilling Secures 6-Mo Extension for Drillship W/ Shell
- MRO LN : Melrose Plans to Spin Off GKN Division: FT
- NG/ LN : National Grid to Hold Canadian Fixed-Income Update Via RBC, TD
- RMG LN : UK’s CWU Declines to Call Off Strike Sept. 8-9, Royal Mail Says
- SGRE SM : Siemens Gamesa Wins Wind Turbine Patent Injunction Against GE
- SKAB SS : Skanska Signs Contract Amendment in the US Worth SEK4.1B
- SO FP : Somfy 1H Like-for-Like Sales +4.3%
- TOD IM : Tod's 1H Ebitda Beats Estimates
- TWTR US : Judge Slams Musk for Not Handing Over Records in Twitter Fight
- UBER US : Uber Begins Rolling Out Yellow Taxi Rides in New York City
- SAN SM : Santander Taps Ex-Indra Co-CEO for Digital, Names New Cards Head
- SBBB SS : SBB to Divest Property Worth SEK9b in Value
- SNAP US : Snap Shares Jump After Verge Report Highlights 2023 Outlook
- VLA FP : Valneva to Distribute VBI’s Hepatitis B Vaccine In Europe
- VAR NO : Kongsberg, PGS, Var Energi to Be Included in Norway’s OBX Index
- W US : Wayfair Falls After Offering $600m of Convertible Bonds