Asian stocks were mixed and U.S. and European futures dipped after an early tumble in precious metals Monday as traders wagered Friday’s strong employment data will move the Federal Reserve closer to pulling back stimulus.
Shares rose in Hong Kong and China and fluctuated in South Korea. Japanese markets are closed for a holiday. In a brief selloff at the start of Asia trading, gold touched the lowest since March before paring losses. Silver dropped to its lowest since November. The prospect of higher rates makes precious metals less attractive relative to other assets. Crude oil extended last week’s decline -- its worst since October -- on concern the delta virus strain will hamper demand growth.
The dollar was steady. On Friday, data showed U.S. job growth accelerated in July by the most in almost a year and the unemployment rate declined, illustrating momentum in a labor market grappling with hiring challenges.
The U.S. 10-year Treasury yield was steady in early London trading after climbing to about 1.3% Friday. Chinese bond yields gained after inflation data came in above expectations.
The U.S. jobs report fanned expectations the central bank will start to cut back stimulus as it wrestles with above-target inflation even as delta spreads. Dallas Fed President Robert Kaplan added to the speculation Friday, saying he’d support adjusting purchases soon but in a gradual manner.
Nikkei +0.33% Hang Seng +0.74% CSI +1.34% Shanghai +1.07% Shenzen +0.70%
Eur$ 1.1765 CNH 6.4766 CNY 6.4763 JPY 110.13 GBP 1.3877 CHF 0.9149 RUB 73.5174 TRY 8.6445 WTI$ 66.63 -2.42% Gold 1,744.45 -1.05% BTC 43,400 -470 ETH 2915 -75
S&P -0.28% Nasdaq -0.30% EuroStoxx -0.24% FTSE -0.35% Dax -0.24% SMI +0.07%
Macro :
- Stocks Loved in the Pandemic Now Get the Wrath of Profit Misses
- Bitcoin and Ether Hit Highest Since Mid-May as Sentiment Warms
- China July Exports Rise 19.3% Y/y in Dollar Terms; Est. 20.0%
- Coinbase CEO Calls Sen. Warner’s Crypto Amendment ‘Disastrous’
- Fed’s Kaplan Calls for Gradual, Balanced Tapering Starting Soon
Keep an eye on :
- ANA SM : Acciona Energia Gets Trio of Buys on Growth Outlook, Valuation
- AIR FP : Airbus Warns of Possible Job Cuts in Germany Parts Unit: Reuters
- ATL IM : Atlantia Gets Authorization From Italy on Sale of ASPI Stake
- AVES GY : Aves One Gets Takeover Offers From Multiple Bidders
- BAVA DC : Bavarian Nordic Says Covid Vaccine Well Tolerated in First Trial
- BMPS IM : Paschi’s Risks Include Legal Claims From Caltagirone: Stampa
- BDT GY : Bertrandt 3Q Ebit EU1.79M Vs. Loss EU1.84M Y/y
- BRK/A US : Buffett’s Berkshire Slows Share Repurchases to $6 Billion
- BT/A LN : BT Will Name Ex-ITV Chief Crozier as Chairman, Times Reports
- CALTX SS : Calliditas Gets FDA Fast Track Designation for Setanaxib
- ROO LN : Delivery Hero Holds 5% of Deliveroo’s Voting Rights
- DIS US : Disney Can Do More to Realize Streaming Potential: Third Point
- ESKN LN : Esken Says Ryanair to Cease Ops From London Southend Airport
- EXPRS2 SS : Expres2ion Gets Positive Safety Outcome on Covid Vaccine
- HL/ LN : Hargreaves Lansdown FY Pretax Profit Misses Estimates
- HYQ GY : Hypoport SE 1H EPS EU2.63 Vs. EU1.91 Y/y
- ILD FP : Iliad Complains to EU Over Towers Accord in Italy: Repubblica
- MRW LN : CD&R Gets Until Aug. 20 to Announce Firm Offer for Morrison
- NKLA US : Nikola’s Indicted Ex-Chairman Milton Sells $77 Million of Stock
- PNL NA : PostNL Plans to Reappoint Pim Berendsen as CFO
- QIA GY : *QIAGEN GETS FDA EUA FOR RAPID PORTABLE COVID ANTIGEN TEST
- RNO FP : Geely, Renault Sign MOU on Hybrid Vehicles in China, S Korea (1)
- ROG SW : Roche’s Polivy Phase III POLARIX Study Meets Primary Endpoint
- RYA LN : Odey Asset Management dumps stakes in Ryanair and British Airways owner IAG
- SLT GY : Carlyle Makes $687 Million Cash Offer to Buy Germany’s Schaltbau
- SSE LN : Elliott Management Built Stake in SSE: Daily Mail
- STLA IM : Stellantis Mulls Paying Back Italy-Backed Loan, Messaggero Says
- TKA AV : Telekom Austria Assessing Sale of Mobile Infrastructure: Kurier
- TTE FP : Mozambique Forces Recapture Town at Center of Insurgency
- UBSG SW : UBS Wealth Mgmt to Start Group Seeking Diverse Clients: Insider
- UTDI GY : United Internet to Buy Back Up to EU160 Million Shares
- WAC GY : Wacker Neuson Sees FY Ebit Margin 8.75% to 9.50%
- WRT1V FH : Wartsila Wins Battery Energy Storage System Order From AGL