Asian stocks gained for a fourth day as investors parsed trade data from China, which showed further growth in exports as global demand rebounded. Benchmarks rose in mainland China and Japan, while dropping in Hong Kong and Australia. Shares of Chinese brokers surged amid speculation of further policy support for the financial sector. A call by the country’s regulators on lower commissions for housing sales and rentals also boosted sentiment, driving the shares of developers higher. Futures for the S&P 500 and Nasdaq 100 both edged lower in Asia after the S&P 500 ended Monday fractionally higher. The tech-heavy Nasdaq 100 gained 0.3% as AI-capable chipmakers Advanced Micro Devices Inc. and Nvidia Corp. rose alongside Google-parent Alphabet Inc. China’s exports rose 8.5% in April, beating economists forecasts, signaling global demand remains robust. Imports, though, dropped 7.9%, worse than the median projection in a Bloomberg survey. The offshore yuan weakened. The yen strengthened against all its Group-of-10 peers. Bank of Japan Governor Kazuo Ueda said earlier the central bank will end its yield-curve-control policy if it reaches its 2% price goal. The dollar steadied after posting gains Monday following the release of the Federal Reserve’s Senior Loan Officer Opinion Survey that signaled the credit market was tightening, while business loan demand was weakening. Treasury futures edged higher in Asia trading after falling Monday as investors considered what it would take to finally reverse the Fed’s path on rates. Bond trading desks are bracing for as much as $35 billion of corporate debt sales this week, while Apple Inc. kicked off a $5.25 billion sale. Investors will be watching US President Joe Biden and congressional leaders as they are set to discuss the debt-ceiling issue. Meanwhile, consumer-inflation data Wednesday may provide further clues on the Fed’s path and set the tone for equities. Oil fell as investors assessed a complex outlook for global demand after a period of volatile trading. Gold gained and Bitcoin held below $28,000. US After Hours PLTR +23.3% and YMAB +13% up on earnings; PINC +8.3% up on evaluating strategic alternatives; LCID -8.2%, DDD -8.2%, SWKS -8%, PYPL -5.7% all down on earnings.
Nikkei +1.04% Hang Seng -0.58% CSI +0.20% Shanghai +0.07% Shenzen -0.41%
Eur$ 1.0991 CNH 6.9260 CNY 6.9218 JPY 134.94 GBP 1.2615 CHF 0.8894 RUB 77.7250 TRY 19.5080 WTI$ 72.84 -0.44% Gold 2,028 +0.33% BTC 27,605 +0.16% ETH 1,842 +0.02%
S&P -0.05% Nasdaq -0.10% EuroStoxx +0.09% FTSE +0.30% Dax +0.06% SMI +0.00%
Macro :
- Goldman Sachs Joins Barclays in Bet Against Fed Cuts This Year
- ECB’s Lane Says There’s Still Momentum in Euro-Area Inflation
- Fast-Money Quants, Human Traders Most Split on Stocks Since 2019
- Hedge Funds Rose 0.4% in April, Led by Macro Funds
- Yellen Warns CEOs About Impact Of Possible Debt Default: Reuters
- MSCI to Apply Special Treatment for Egypt in Equity Indexes
- Britons Will Get Poorer as They Fall Behind Peers: MLIV Pulse
- JPMorgan Lowers Euro-Zone Equities to Underweight
Keep an eye on :
- A2A IM : A2A Announces Mutually Agreed Interruption of Talks With EGEA
- AGFB BB : Agfa-Gevaert 1Q Revenue Misses Estimates
- AIR FP : Ryanair Close to Signing Major 737 Max Order With Boeing: Rtrs
- ALKB DC : ALK-Abello Maintains FY Ebit Margin Forecast
- AMS SM : Amadeus 1Q Adjusted Net Income Beats Estimates
- AMUN FP : Amundi Says China Wealth Business Is Rebounding From Setbacks
- BAKKA NO : Bakkafrost 1Q Operating Ebit Beats Estimates
- BAMI IM : Banco BPM 1Q Net Income Beats Estimates, Raises FY Guidance
- BAVA DC : Bavarian Nordic Maintains FY Revenue Forecast
- ADE GY : Bitcoin Group: No Longer Pursuing Bankhaus Von Der Heydt Deal
- AFX GY : Carl Zeiss Meditec 1H Ebit Margin 14.8% Vs. 20.7% Y/y
- BOL FP : CMA CGM Agrees to Buy Bollore’s $5.5 Billion Logistics Unit
- BHL LN : Bradda Head Lithium Rated New Buy at Panmure Gordon
- DUE GY : Duerr 1Q Adj. Ebit Misses Estimates, FY Outlook Confirmed
- ZIL2 GY : ElringKlinger 1Q Ebit Beats Estimates
- ELE FP : Endesa 1Q Net Income Beats Estimates
- EAPI FP : Euroapi, L’Oréal’s Novéal Sign 4-Year CDMO Agreement
- EVK GY : Evonik Sees FY Adjusted Ebitda Low End of EU2.1B to EU2.4B
- FLS DC : FLSmidth Pauses Investments in China as Tensions Mount: Borsen
- FME GY : Fresenius Medical 1Q Op. Income Misses Ests, Outlook Confirmed
- FRE GY : Fresenius SE 1Q Adj. Ebit Beats Estimates, FY Outlook Confirmed
- HAG GY : Hensoldt 1Q Revenue Beats Estimates
- HHC US : Howard Hughes 1Q Revenue Beats Estimates
- IPAR US : Inter Parfums Maintains FY EPS Forecast
- IVG IM : Iveco Group to Assume Ownership of JV With Nikola (1)
- SDF GY : K+S Cuts FY Ebitda Forecast, Misses Estimates
- MBTN SW : Meyer Burger & Magog Sign Pact for Slate Roof Solar System
- AERO SW : Montana Aerospace 1Q Net Sales EU353.1M
- BMPS IM : Monte Paschi Profit Beats Estimates as Rates Boost Revenue
- NHH SM : Minor International Seeks to Buy Up NH Hotel Shares at a Premium
- NOEJ GY : Norma 1Q Adjusted Ebit Misses Estimates
- OCI NA : OCI 1Q Adjusted Ebitda Misses Estimates
- OCI NA : OCI Strategic Review Includes Evaluation of Netherlands Listing
- ORK NO : Orkla 1Q Adjusted Ebit Beats Estimates
- PHIA NA : Philips Workers to Strike Over Pay Dispute: FNV Union (May 8)
- ROG SW : Roche: FDA Accepts Application for Third Use of Vabysmo Eye Drug
- RVRC SS : RVRC Holding 3Q Adjusted Operating Profit Misses Estimates
- RYA ID : Ryanair Close to Signing Major 737 Max Order With Boeing: Rtrs
- SAF FP : Boeing Closes In on Mega Ryanair Deal in 737 Endorsement
- SBBB SS : *SBB TO REVOKE RIGHTS ISSUE, POSTPONE DIVIDEND PAYMENT
- UBSG SW : UBS: Todd Tuckner to Succeed Youngwood as CFO at CS Deal Close
- UNVR US : Univar 1Q Adjusted EPS Beats Estimates
- VGP BB : VGP ‘Optimistic’ in Outlook for Upcoming Months
- VOLVB SS : Volvo’s Nova Bus Wins Up to 1,229 Quebec Electric Bus Contract
- WAC GY : Wacker Neuson 1Q Ebit Margin 13.2% Vs. 7.5% Y/y