Asian stocks advanced as a wave of dip buying combined with growing bets on potential interest-rate cuts. The MSCI Asia Pacific Index rose 0.6%, as South Korean shares gained 1%. Oil steadied after a three-day drop as investors weighed risks to Russian supplies, with US President Donald Trump stepping up his threat to penalize India for buying Moscow’s crude. The Indian rupee weakened 0.2% against the dollar. Treasuries and gold were little changed. In Japan, an auction of 10-year government bonds drew demand that was weaker than the 12-month average. Contracts for the S&P 500 gained 0.1% after the index had its biggest rally since May. Traders are increasingly pricing in interest rate cuts by the Federal Reserve after Friday’s weak jobs report, which dragged down stocks and sent bond prices sharply higher. Equities have rebounded sharply from their April lows, driven by growing optimism that corporate America can absorb the impact from tariffs and the US economy will be able to avoid a recession. After the jobs data on Friday, the markets were implying a roughly 80% chance of a rate cut at the next Fed meeting. Following last night’s trade, those odds have increased to nearly 95%, wrote Kyle Rodda, a senior market analyst at Capital.com in Melbourne. There’s a “99% chance” that the Fed will cut rates by 25 basis points in September, Rachana Mehta, a regional fixed income co-head at Maybank Asset Management said in a Bloomberg TV interview. Fed San Francisco President Mary Daly said the time is nearing for rate cuts given mounting evidence that the job market is softening and there are no signs of persistent tariff-driven inflation, Reuters reported. Tech megacaps led gains Monday, rebounding from recent selling pressure, with Nvidia Corp. and Meta Platforms Inc. each surging at least 3.5%. Amundi Investment Institute’s Aidan Yao says the markets “have reasons to cheer” but “striking trade deals doesn’t mean the end of tariffs.” S&P 500 earnings are crushing second-quarter expectations — up 9.1%, triple the pre-season forecast and the strongest beat rate since 2021, according to data compiled by Bloomberg Intelligence. Monday’s jump in stocks prompted a comment from Trump, who said it was a “Good day in the Stock Market” and there will be many more days like this. Still, a chorus of stock market prognosticators at some of Wall Street’s biggest firms are warning clients to prepare for a pullback as sky-high equity valuations slam into souring economic data. On Monday, Morgan Stanley, Deutsche Bank AG and Evercore ISI all cautioned that the S&P 500 Index is due for a near-term drop in the weeks and months ahead. The predictions come after a furious rally from April’s lows that propelled the gauge to levels it has never seen before. In Japan, the auction of 10-year government notes on Tuesday drew weaker demand after poor US employment data last week fueled speculation of an early Fed rate cut, putting downward pressure on yields. The 10-year yields trimmed losses to trade 2.5 basis points lower on Tuesday after the auction. On the tariff front, the European Union is expecting Trump to announce executive actions this week to formalize the bloc’s lower levies for cars and grant exemptions from levies for some industrial goods such as aviation parts, according to people familiar with the matter. Meanwhile, the Swiss government said it is determined to win over Washington after last week’s shock announcement of 39% levies on exports to America. Meanwhile, Trump also said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies. US After Hours INSP -21.6%, NVTS -16.1%, KD -13.3%, HIMS -12.7%, ODD -12.3%, MELI -5.7% lower on earnings; PRIM +14.8%, ALGT +4.8% higher on earnings.
Nikkei +0.69% Hang Seng +0.63% CSI +0.74% Shanghai +0.80% Shenzen +0.62%
Eur$ 1.1559 CNH 7.1842 CNY 7.1821 JPY 147.03 GBP 1.3287 CHF 0.8093 RUB 79.7597 TRY 40.6787 WTI$ 66.18 -0.12% Gold 3,372 -0.04% BTC 114,369 -0.39% ETH 3,650 -1.37%
S&P +0.23% Nasdaq +0.29% EuroStoxx +0.34% FTSE +0.38% Dax +0.44% SMI
Macro :
- Weak business investment threatens global growth, warns OECD - FT
Keep an eye on :
- ADEN SW : Adecco 2Q Revenue Meets Estimates
- AKTIA FH : Aktia Bank 2Q EPS EU0.25
- ALC SW : Alcon to Buy STAAR Surgical for $28 Per Share
- ARCAD NA : Arcadis Names Simon Crowe as New CFO
- BSGR NA : B&S Group 1H Revenue EU1.12B Vs. EU1.07B Y/y
- EN FP : Bouygues’s Colas to Acquire Suit-Kote for Over $450 Million
- BrainCo IPO : China Neuralink Rival Seeks Pre-IPO Funds at $1.3 Billion Value
- BAMI IM : Credit Agricole Increases BPM Holding to 20.1%: Consob Filing
- BMRN US : BioMarin Boosts FY Adjusted EPS Forecast, Beats Estimates
- CLNX SM : EQT submits the best offer for Cellnex's Swiss subsidiary.
- CON GY : Continental 2Q Adjusted Ebit Misses Estimates
- ACA FP : Credit Agricole Increases BPM Holding to 20.1%: Consob Filing
- DBK GY : Deutsche Bank chief approved controversial trade he was later asked to probe - FT
- DHL GY : Deutsche Post 2Q Ebit Beats Estimates
- DGE LN : Diageo FY Net Sales Meet Estimates
- EDPR PL : EDPR to Sell Solar Plants in Spain to Prosolia Energy for €160M
- EQV1V FH : eQ 2Q Operating Profit Misses Estimates
- ETL FP : Eric Labaye Named as Chairman of Eutelsat Communications
- ETL FP : Eutelsat FY Ebitda Beats Estimates
- XOM US : Exxon Mobil in MoU to Study Four Offshore Blocks in Libya: NOC
- FRA GY : Fraport 2Q Revenue Misses Estimates
- FME GY : Fresenius Medical Profit Beat Estimates as Cost Cuts Advance
- FRES LN : Fresnillo 1H Ebitda Beats Estimates
- FireFly IPO : Firefly IPO Is Said to Draw Double-Digits Oversubscription
- GENL LN : Genel 1H Revenue $35.8M
- GX1 GY : Gerresheimer to Sell Moulded Glass Business After Review
- GLEN LN : Glencore Taps BB Energy Duo for Middle-Distillate Oil Trading
- HABA GY : Hamborner REIT Boosts FY Rental Income Forecast
- HIMS US : *HIMS & HERS SHARES DROP 11% POSTMARKET AFTER REVENUE MISSES
- BOSS GY : Hugo Boss 2Q Ebit Beats Estimates
- ICOS IM : Intercos 1H Revenue EU524.9M Vs. EU499.9M Y/y
- IPCO SS : IPC 2Q Revenue Meets Estimates
- LSCC US : Lattice Semi 2Q Adjusted EPS Matches Estimates
- VAC US : Marriott Vacations Maintains FY Adjusted Ebitda Forecast
- NTGY SM : Spanish Utility Naturgy to Sell 5.5% Stake to Lift Liquidity
- NVDA US : US Explores Better Location Trackers for AI Chips, Official Says
- OERL SW : Oerlikon Sees FY Ebitda Margin 17% to 17.5%, Saw About 18.5%
- PLTR US : Palantir Reports Sales Up 48%, Cites ‘Astonishing’ AI Impact
- PFV GY : Pfeiffer Vacuum Sees FY Ebit Margin 7% to 8%
- RIG US : Transocean 2Q Contract Drilling Revenue Beats Estimates
- SDZ SW : Sandoz targets 70% price cut for weight-loss drugs in Canada
- SHLF NO : ADES Offers to Buy Shelf Drilling For NOK14/Share: M&A Snapshot
- SHLF NO : Shelf Drilling Narrows FY Adjusted Ebitda Forecast
- SN/ LN : Smith & Nephew 1H Revenue Beats Estimates
- 4XO GY : Steyr Motors Enters Polish Market
- THEON NA : Theon Buys Germany Based Kappa Optronics for €75 Million
- TKA GY : Australia picks Mitsubishi over German rival for $6.5bn defence deal, Boost for Japan as MHI named preferred bidder ahead of Thyssenkrupp - FT
- UNO GY : UK Enters Negotiations With Two Carbon Capture Plants
- URW NA : Unibail-Rodamco-Westfield Plans Absorption of Dutch Subsidiary
- VMEO US : *VIMEO SHARES JUMP 30% POSTMARKET AFTER RESULTS
- DG FP : Vinci Wins Contract for Biofuel Plant in Spain
- WSU GY : Washtec 1H Ebit EU17.6M; Confirms FY Guidance
- XPP LN : XP Power 1H Revenue GBP110.9M