Equities turned mixed during Asian trading Thursday and US stock futures fell as investors weighed the risk of faster rate hikes. Shares rose in Japan, reversed their advance in South Korea and swung between gains and losses in Hong Kong and Australia. The dollar was little changed near its high for the year and Treasury yields remained elevated, though fractionally lower than Wednesday. Contracts for the S&P 500 and Nasdaq 100 extended declines following a report that President Joe Biden is proposing tax increases on wealthy investors and softer-than-expected inflation data from China that could hold worrying spill-over effects for the global economy. Investors continue to digest Jerome Powell’s signaling on further rate hikes and the risk of recession that comes with this. While the Federal Reserve chief told lawmakers no decision had been made on the pace of the next move, he reiterated that an acceleration in tightening was still on the table and rates may go higher than anticipated should economic data warrant. The comments coincided with another round of US jobs figures that came in on the hot side, bolstering bets that policymakers will remain hawkish. Japan’s benchmark 10-year bond yield hovered just below the 0.5% ceiling set by the Bank of Japan amid pressure on the yield-curve control program, and as Governor Haruhiko Kuroda began his last two-day policy meeting. The offshore yuan weakened slightly while remaining short of the 7 level versus the dollar after China reported a slowdown in consumer inflation and a drop in factory prices. Friday’s jobs report will be scrutinized for hints on the outlook for Fed policy, with even just slightly stronger-than-forecast figures likely to trigger more bets for a bigger hike. oil held losses on expectations for higher interest rates, despite an unexpected decline in US crude inventories. Iron ore slid amid uncertainty about potential moves by Chinese authorities to implement price controls, and as some furnaces ramped up output of steel that uses scrap metal rather than freshly-shipped product. Gold held near its lowest price this year. US After Hours SI -37.1% on news it will liquidate Silvergate Bank; MDB -9.9% falls on earnings; ASAN +28.4% higher on earnings; MGNX +10.7% on news it will sell its royalty interest on TZIELD.
Nikkei +0.50% Hang Seng +0.23% CSI -0.36% Shanghai -0.31% Shenzen -0.20%
Eur$ 1.0551 CNH 6.9786 CNY 6.9685 JPY 136.77 GBP 1.1854 CHF 0.9402 RUB 76.1116 TRY 18.9484 WTI$ 76.66 +0.01% Gold 1,815 +0.07% BTC 21,744 -1.18% ETH 1,540 -0.85%
S&P -0.12% Nasdaq -0.24% EuroStoxx -0.23% FTSE -0.23% Dax -0.28% SMI -0.16%
Macro :
- Biden to Urge 25% Billionaire Tax, Big Levies on Rich Investors
- Rolex, Patek Investment Beats S&P Gains Over Five Years
Keep an eye on :
Keep an eye on :
- AIR FP : Boeing Joins Defense Startup to Develop AI-Piloted Aircraft
- ASML NA : Netherlands to Propose Controls on Chip Gear Exports to China
- BALN SW : Baloise FY Profit Misses Estimates (1)
- BGN IM : Banca Generali February Net Inflows €442 Million
- AI FP : AI Startup Anthropic Raises $300M at $4.1B Valuation:Information
- CRI FP : Chargeurs FY Ebitda Misses Estimates
- DIE BB : D'Ieteren Sees 2023 Adjusted Pretax Profit About EU900M
- DRW3 GY : Draegerwerk 4Q Ebit Margin 5.9% Vs. 1.6% Y/y
- DWS GY ; DWS Settles Lawsuit on Advertising of ESG Funds
- EDF FP : France Vows to Defend Nuclear Power in EU Clean Industry Plan
- ENEL IM : Greek PPC Recalls Statement on Enel Romania Deal
- ENEL IM : Greek PPC Recalls Statement on Enel Romania Deal
- ENX FP : Euronext Says Barco and Melexis to Join BEL 20 Index
- HNR1 GY : Hannover Re FY Ebit Meets Estimates
- IBS PL : Ibersol to Join Lisbon’s Main PSI Index, Euronext Says
- DEC FP : JCDecaux FY Adjusted Ebit Beats Estimates
- JUVE IM : Juventus Board to Postpone Approval of Financial Report
- MMB FP : Vivendi to Send EU Remedies for Lagardere Deal This Month
- LEG GY : LEG Immobilien Suspends 2022 Dividend, Raises AFFO Forecast
- LDO IM : THC to Expand Leonardo AW139 Helicopter Fleet in Saudi Arabia
- NETW LN : Network International FY Revenue Matches Estimates
- ORSTED DC : Orsted Is Free of Gazprom Contract Due to Force Majeure: Borsen
- OVH FP : OVH Holders Offer 5m Shares at €12.90-€14/Share via Citi
- RIEN SW : Rieter FY Ebitda Misses Estimates
- SHLF NO : Shelf Drilling Gets $118m Contract for Scepter in Nigeria
- WAF GY : Siltronic Proposes 2022 Dividend Per Share EU3.00, Est. EU3.03
- SI US : Silvergate Capital Sinks on Plans to Wind Down And Liquidate ---> -44%
- SI US : Silvergate Bet Everything on Crypto, Then Watched It Evaporate
- SBNY US : Silvergate Capital Sinks on Plans to Wind Down And Liquidate
- UBER US : Uber Is Said to Consider Spinning Off Freight Logistics Division
- VIV FP : Vivendi FY Ebita Beats Estimates
- VIV FP : Vivendi CEO Says Bids for Telecom Italia Grid Are Below Targets