FactSet U.S. Daily Market Preview: Recent Episodes
FactSet
StreetAccount U.S. Daily Market Preview is FactSet's daily podcast aiming to bring listeners up to speed with financial markets information on the day to come as quickly as possible. With a target time of ~5 minutes and a publish time of ~5:00 ET, this is an ideal listen prior to market open.
US equity futures are modestly firmer, while Asian equities are mixed, and European equities are also mixed. Risk sentiment remains supported by lower Fed tightening expectations after softer-than-expected US producer inflation reinforced the disinflation narrative following the in-line CPI report. September rate-hike expectations have fallen to around 30% from 50% earlier in the week, while recent AI-related earnings remain supportive for technology sentiment. Meanwhile, there has been no diplomatic progress in the US-Iran situation, with the US sending another aircraft carrier to the region and Treasury Secretary Bessent flagging new economic measures against Iran next week.
Companies Mentioned: Carlyle Group
US equity futures are modestly firmer, while Asian equities are broadly higher and European equities are also modestly higher. Market sentiment remains supported by the in-line US inflation reading, which eased yields and reduced expectations for a September Fed rate hike. The AI trade is also firmer, supported by recent earnings and a positive corporate earnings outlook, while European macro data have generally surprised to the upside. Middle East developments remain a source of uncertainty, with little progress toward reviving the interim US-Iran peace agreement and traffic through the Strait of Hormuz remaining subdued.
Companies Mentioned: SHEIN, Ford Motor, AEVEX Corp
S&P futures are pointing to a slightly higher open ahead of the CPI data later today. In Asia, Japan, South Korea, and Taiwan were all higher on tech stock gains, though other regions were all lower. European markets are higher this morning.
Companies Mentioned: National CineMedia
S&P futures are flat following a quiet day in Asia. South Korea, Australia, and Taiwan all finished with modest gains. Hong Kong started strong but edged lower throughout the session, and Mainland China benchmarks were mixed. Japan was closed for a holiday. European markets opened mixed this morning.
Companies Mentioned: Riot Platforms, OpenAI, Intel, Amkor Technology
S&P 500 futures are flat. Treasury and JGB yields up one to two basis points along the curve. Crude is strengthening amid latest setback in Strait of Hormuz-reopening talks. Gold is steady while silver edging higher. Dollar is firming against majors, strongest against yen and Korean won. Bitcoin little changed. Efforts to reopen the Strait of Hormuz remain stalled following a series of hard-line demands from Iran. Although Foreign Minister Araghchi claims a deal with Oman is nearing completion, he stressed that reopening the strait depends on the U.S. paying billions in compensation, withdrawing regional forces, unfreezing assets, and lifting sanctions. The U.S. has dismissed these conditions as unacceptable, with President Trump indicating he is willing to continue the economic pressure campaign as long as gas prices remain stable.
Companies mentioned: Ashland, Trump Media & Technology Group, Paramount Skydance
S&P futures are indicating to a modestly higher open. Asian markets were mixed on Friday. Japan and South Korea struggled with continued declines in tech stocks, while China’s markets posted gains. Hong Kong inched higher as broader investor sentiment improved. European markets opened higher this morning.
Companies Mentioned: Sunoco, DoubleVerify, Meta Platforms
US equity futures are firmer, while Asian markets are mostly lower and European equities are modestly higher. Markets are being driven by a combination of earnings focus and improving geopolitical expectations, with headlines pointing toward a potential near-term agreement on the Strait of Hormuz supporting sentiment and easing energy concerns. At the same time, volatility in the semiconductor sector continues to weigh on Asia, while investors remain focused on corporate results and the broader AI trade following recent swings.
Companies Mentioned: Meta, Medicover, KKR, JPMorgan
S&P futures are pointing to a higher open, extending recent momentum. Asian markets rallied across the board today. Tech names saw strong gains in Japan, South Korea, and Taiwan. Mainland China, Hong Kong, and Australia recorded relatively modest gains. European markets are also higher this morning.
Companies Mentioned: Walt Disney, Gran Tierra Energy, SK Hynix
S&P futures are trending higher following a strong Asia session. Japan pared earlier losses to close in the green. South Korea posted solid gains with the KOSDAQ up +6%. Mainland China gained momentum late in the session on policy support rumors, but Hong Kong underperformed. European markets are also broadly higher this morning.
US equity futures are trading higher, with the S&P up around 0.6%. Bonds are firmer, with the US 10-year yield down 2 bps at 4.7% and the Bund down 5 bps at 3.2%. The dollar is mixed, firmer against the euro, sterling, and the Aussie, but under pressure versus the yen following FX intervention. In commodities, oil is notably weaker, with WTI crude down 6.5% below $80 a barrel, while gold is trading firmer and industrial metals are mostly lower. Bitcoin is also lower. Market sentiment is benefiting from news that President Trump called off planned strikes against Iran to allow room for negotiations over Strait of Hormuz. Trump said talks would begin Monday and posted parameters of deal have been agreed to. Iran echoed by noting an agreement on Strait of Hormuz close.
Companied mentioned: AstraZeneca, BMS, Shell Plc, Blackstone
US equity futures are higher, while Asian markets are broadly higher and European equities are firmer and trading near record highs. Oil is lower with WTI crude down 2% near 82 dollars level. Markets are supported by a renewed bid in the AI trade following recent volatility, with improved sentiment driven by better takeaways from major US tech earnings, particularly in cloud and AI demand. At the same time, easing rate pressures and a pullback in oil prices are helping risk appetite, while central bank signals remain mixed. Market looking through Middle East developments despite more military strikes. Elsewhere, Trump announced that deal has reached for Hamas to disarm and Israel to withdraw forces in structured phases.
Companies Mentioned: TSMC, Intel, Tesla, HSBC
S&P futures are pointing to a slightly higher open. Asia markets were mixed to lower on Thursday. The Kospi failed to sustain momentum. China tech names broadly underperformed as mainland equities retreated on regulatory concerns. Standout gains in Japan’s Advantest and Tokyo Electron bolstered sentiment and the Nikkei, but the Topix still closed in the red. European markets are turning positive this morning. Attention is on strong earnings from financial and healthcare names.
Companies Mentioned: Meta, Microsoft, Qualcomm, Arm Holdings, Shein, Churchill Downs, Procore Technologies
S&P futures are pointing to a slightly higher open. Market awaits for the Fed interest rate decision and major earnings reports later today. Asian benchmarks closed mixed. Heavy losses in South Korea’s Kospi and other tech-heavy indices weighed on sentiment, but markets in Greater China rebounded with the help of localized state support. Hong Kong’s tech platforms and AI plays sparked gains, while Japan's semiconductor names continued to see volatility. Singapore reached a fresh record, showing regional strength amidst global uncertainty. European markets are trading higher this morning, following a strong Tuesday session and supported by corporate earnings strength.
Companies Mentioned: SK Hynix
US equity futures are weaker, Asian markets are sharply lower while European equities are modestly higher. Markets are being driven by a rotation away from momentum into broader sectors, supported by easing oil prices and lower yields following a pause in Middle East hostilities, though skepticism around a lasting resolution remains. At the same time, concerns around AI capex sustainability and competitive pressures, particularly from China, continue to weigh on sentiment, while investors remain cautious ahead of the FOMC decision and a heavy week of earnings.
Companies Mentioned: Lantheus Holdings, NVIDIA
US equity futures are pointing higher, with S&P 500 contracts up 0.8% as markets look to recover after US equities posted their second consecutive negative week. Bonds are firming across the board, with the US 10-year yield falling 5 bps to 4.6%, Bunds down around 4 bps to 3.1%, and Gilts leading the move lower, dropping roughly 7 bps to almost 5%. In commodities, WTI crude is down sharply—off about 5.5% to around $84/bbl—following a revival in Middle East diplomatic efforts, while Brent is trading near $91/bbl. The US dollar is weakening slightly, pulling back from three-week highs, and precious metals are catching a bid with both gold and silver trading higher. Bitcoin is also rebounding. Risk appetite is recovering as markets latch onto a fragile Middle East truce. The US-military paused attacks on Iran amid ammunition shortages, with Tehran reciprocating, though the Houthis struck Saudi oil facilities in the interim. Investors are treating the pause as a broader de-escalation signal, sending Brent crude sharply lower.
Companies Mentioned: DCC Energy, Argenx, Forte Biosciences, Carlyle Group, Bain Capital
US equity futures are little changed, Asian markets are broadly lower, while European equities are modestly higher. Markets remain focused on the fallout from earnings in large-cap technology, where results have reinforced concerns around elevated capex and valuation, while geopolitical tensions in the Middle East continue to support oil prices and add to inflation risks. President Trump threatened "major military punishment" for Iran and Houthis as strikes against Iranian military targets continued for the 13th straight day. At the same time, higher yields and tighter financial conditions are weighing on sentiment, with investors balancing resilient economic data against rising rate expectations and ongoing policy uncertainty.
Companies Mentioned: SpaceX, Safety Insurance Group, Accor
US equity futures are softer, Asian markets were broadly higher while European equity markets are lower. Markets remain in a holding pattern, with momentum stabilising after recent volatility and sentiment supported by generally upbeat AI-related developments and earnings signals. Middle East tensions continue to underpin oil prices but have had limited impact on broader risk appetite, while investors remain focused on upcoming earnings releases and central bank policy expectations, with rate hike pricing still elevated despite recent softer inflation data.
Companies Mentioned: Amazon, Intel, AMD, Uber
S&P futures are down (0.3%) and pointing to a lower open today. Asian benchmarks erased gains from early in the session and closed mixed. Japan's Nikkei rallied +2% in the morning but closed in the red, South Korea was of similar pattern but held some gains, Hong Kong was weighed down by hefty losses in tech names, and Mainland China benchmarks were mostly lower. European markets are mostly firmer in early trading.
Companies Mentioned: Intel, SK Hynix, OpenAI, VinFast
S&P futures are suggesting a strong open today as tech names recovered in Asia. Japan and South Korea rebounded. Gains were headlined by semiconductor stocks such as Advantest, Kioxia, and Samsung Electronics. Greater China markets were buoyed by optimism from state-backed support for tech stocks. European shares are mostly higher in early trading.
Companies Mentioned: Icahn Enterprises
US futures mixed as the Dow trades lower and the Nasdaq slightly higher. Bond markets are mixed: the U.S. 10-year yield is up 1 bp at 4.6%, gilts have risen 2 bps to 5%, and bunds are steady at 3.2%. The dollar is softer. Oil has given back earlier gains, with WTI crude little changed just below $82 per barrel. Gold is lower, industrial metals are down, and bitcoin is weaker. Ongoing Middle East tensions leaving a cautious tone for equity markets. US ramped up strikes against Iran on the weekend. Protraction in hostilities a complication for European macro outlook given impact on inflation and demand. Market moving off earlier lows with oil pulling back from session highs, highlighting sensitivity to energy price developments.
Companies Mentioned: Segro, Samsung Biologics, Advanced Medical Solutions Group, PolyPeptide Group
US equity futures are lower, Asian markets are sharply lower while European equities are mostly weaker. Markets remain focused on the ongoing unwind in momentum and semiconductor trades, with profit-taking and concerns around elevated capex continuing to weigh on sentiment. Geopolitical risks remain a secondary overhang, with Middle East tensions and broader policy uncertainty contributing to a cautious tone, while expectations for central bank policy are stabilising as inflation pressures show signs of easing. Attention is now turning to upcoming corporate developments and macro data for further direction on growth and rate expectations.
Companies Mentioned: PayPal, BP, ConocoPhillips, Array Technologies
US equity futures are modestly higher, Asian markets were mostly lower, while European equities are mixed. Markets remain focused on ongoing rotation dynamics, with continued pressure on momentum and semiconductor trades alongside strength in large-cap tech and select cyclicals. Geopolitics continues to influence sentiment, with US-Iran tensions elevated but expectations still leaning toward eventual diplomatic resolution, keeping risk premia contained. Cooling inflation signals have provided some support to equities, while attention is turning to upcoming US data and policy signals. Investors also await President Trump's address to the nation later today for clarity on both military and policy trajectories.
Companies Mentioned: Uber, Delivery Hero, AtaiBeckley, Eli Lilly, DCC
S&P futures are indicating a higher open following a strong Asia session. Semiconductor names rebounded with strong gains seen in South Korea, Japan, Hong Kong, and Taiwan. Mainland China benchmarks were rather flat. European markets are edging lower in early trading.
Companies Mentioned: PayPal, CoreWeave, Lionsgate Studios
S&P futures are slightly lower following a volatile Asia session. Japan saw steady gains, Hong Kong tech names were sharply higher in the morning but flattened out near close, South Korea experienced a V-shape rebound, and Mainland China saw modest increase. European benchmarks are all edging lower in early trading.
Companies Mentioned: NVIDIA
US equity futures are weakening, with the S&P down 0.4%. Bonds are broadly lower as Treasury Yields continue to rise, with the 10-year up 1 bp to 4.6%. Gilts have gained 3 bps to 4.9%, while Bunds are up 2 bps at 3%. Crude prices are rallying amid escalating US-Iran tensions. Meanwhile, gold and silver extend their declines, the dollar strengthens across the board, and Bitcoin retreats alongside equities. US and Iran exchanged fire over weekend, raising more doubts about durability of ceasefire. US struck more targets aimed at degrading Iran's ability to threaten ships in Strait of Hormuz. IRGC fired at another commercial vessel and declared Hormuz closed, retaliating with strikes against US facilities across Gulf states. Developments seen threatening nascent recovery in Hormuz shipping activity, pushing crude higher.
Companies Mentioned: Akzo Nobel, CCC Intelligent Solutions, Warner Bros. Discovery
US equity futures are softer with the S&P down. Bonds are firmer, as the US 10-year yield drops 2 bps to 4.5% following yields fell 3-4 bps in prior session. Gilts fall 2 bps to 4.9%, while the Bund softens by 1 bp to 3.1%. The dollar is weaker. Oil edges down slightly, with WTI crude near $72/bbl. Gold is lower, while Bitcoin shows gains. European and Asian equity markets are mostly firmer. European markets are finding support after the US refrained from launching a third consecutive day of strikes against Iran. Sentiment earlier this week was shaken by rising tensions, which triggered a sharp rally in oil prices and a rise in interest rates, reigniting concerns about inflation and growth risks. As a result, sell-side strategists are becoming increasingly divided on the outlook for European markets. Some analysts point to vulnerabilities stemming from Europe’s limited exposure to AI and heightened sensitivity to oil-driven volatility, given the region’s reliance on imported oil.
Companies Mentioned: EasyJet, Bayer AG, Arthur J. Gallagher
S&P futures are pointing to a higher open today. Japan's main indices posted solid gains led by chip stocks, while the Kospi was flat as large-cap Korean names traded mixed. Taiwan and Hang Seng retreated, the latter giving back some of Wednesday's gains. Australia extended declines. Mainland China pared early losses and rallied in the afternoon with semis names the notable outperformers. European equity markets are higher in early trading.
Companies Mentioned: Blackstone, TPG, Boeing
S&P futures are trending slightly lower following a mixed Asia session. Strong gains were seen in Chinese AI and semis names, pushing the Hang Seng to close up +3%. Japan's Nikkei and Korea's Kospi rebounded shortly after open but both traded sharply lower in the afternoon. Minimal movement in Mainland China overall, Taiwan saw slight gains, and other markets were mostly lower. European equity markets sharply lower in early trading.
Companies Mentioned: MasTec, Coty, SpaceX, Meta, OpenAI
S&P futures are pointing to a lower open today, currently down (0.3%). Asian equities saw sharp declines today, with the MSCI Asia Pacific Index dropping (2%). Samsung Electronics closed down (7%) despite reporting a 19-fold operating profit jump and triggered a selloff in memory and chip names across Asia. Japan's Nikkei dropped (2%), South Korea's Kospi was down near (5%), and Greater China markets all slid. European markets are showing resilience with most benchmarks slightly higher in early trading.
Companies Mentioned: Samsung Electronics, Vertex Pharma, Crinetics Pharma, Fiserv
US equity futures are firmer, with the S&P 500 up. Bond yields are lower, as the US 10Y Treasury falls 2 bps to 4.5% and the Bund drops 2 bps to 2.9%. Gilts are softer. The US dollar is stronger. Oil prices are down, with WTI crude trading below $69/bbl. Gold is up, and Bitcoin is firmer. European equity markets are higher, while Asian markets show mixed performance. The market is awaiting fresh catalysts in Europe, showing no reaction to volatility in Asian tech stocks. Strategists remain positive on the European equity outlook, as investors grow more comfortable owning European assets amid an improving macroeconomic environment. The recent selloff in oil is the most significant factor influencing markets. More broadly, investors are continuing to assess the sustainability of capital expenditure by US hyper-scalers.
Companied Mentioned: GFL Environmental, Element Solutions, Samsung Electronics
US equity futures are modestly higher, Asian markets are mostly weaker while European equities are firmer. Markets remain focused on the unwind in the AI and semiconductor trade after a strong second quarter, with memory stocks under pressure amid concerns around stretched positioning and demand risks tied to rising input costs. Geopolitics remains a secondary driver, with US-Iran talks still seen as constructive but lacking clear breakthroughs, while central bank messaging has provided limited new direction. Attention is also turning to the US labor market, with nonfarm payrolls expected to show a moderation in job growth, reinforcing expectations for further rate tightening later this year.
Companies Mentioned: Apple, OpenAI, SoftBank Group
US equity futures are weaker, Asian markets are mixed, while European equities are also mixed after recent record highs. Markets are consolidating after recent strength, with attention on a mixed AI trade following strong performance in the semiconductor space and some rotation across regions. Geopolitics remain in focus, with US-Iran talks showing limited progress despite broadly constructive signals, while central bank uncertainty continues to weigh following limited forward guidance from the Fed. At the same time, lower oil prices are helping ease tightening expectations in Europe, though policymakers remain cautious on inflation dynamics, keeping overall sentiment balanced but slightly defensive.
Companies Mentioned: Apple, Microsoft, KKR & Co.
S&P futures are pointing to a flat open today. Asian equities closed mixed with Japan's Nikkei up +1.3%, supported by strength in semiconductor names. Taiwan and South Korea also outperformed, with strong gains in chip equipment manufacturers. Hong Kong, Southeast Asia, and Australia saw mild losses. European markets are higher across the board.
Companies Mentioned: Comcast
US equity futures are firmer, with the S&P 500 up. Bond markets show a mixed picture, as the US ten-year-yield remains steady at 4.4% and the Bund holds flat at 2.9%. The US dollar softens against European majors and the Australian dollar, while remaining flat versus the yen. Oil prices edge higher on renewed US-Iran tensions, although WTI crude remains below $70/bbl. Gold prices decline, industrial metals trade mixed, and Bitcoin slips lower. European and Asian equity markets are mixed. US-Iran tensions picked up with tit-for-tat strikes continuing over the weekend. Limited market reaction attributed to reports that both sides agreed to stand down ahead of planned talks in Qatar Tuesday. Outside of Middle East, AI/tech remains the dominant theme.
Companies Mentioned: Williams Cos., BioLife Solutions, TPG, Inc.
S&P futures are down (0.3%) following a weak Asia session. Japan's Nikkei led losses in Asia as tech-heavy sectors struggled. Korea's Kospi closed (7%) lower as steep losses in SK Hynix and Samsung triggered a circuit breaker. Greater China benchmarks all fell as tech names weakened further. European markets are also lower in early trade. Real estate and personal goods names are among the few who are bucking the trend.
Companies Mentioned: OpenAI, SpaceX, Synaptics, onsemi
US equity futures are firmer, Asian markets are mixed, and European equities are also trading higher. Markets are being driven by renewed optimism around the AI and memory cycle following strong guidance from Micron and upgraded outlooks from Qualcomm. At the same time, weaker oil prices are easing pressure on rates and contributing to expectations of a slower pace of central bank tightening, although policymakers continue to signal a cautious stance with risks around inflation still present.
Companies Mentioned: Meta, MetLife, EasyJet
S&P futures are up +0.2% as of now following the semis selloff yesterday. All eyes are on Micron's Q3 earnings post close. Asian equities traded mixed today. Japan saw modest losses, Greater China markets were flat to slightly higher, and South Korea rebounded as memory chip names traded choppy but managed to close higher. European markets are slightly lower in early trade. Real estate and household goods are outperforming while industrial and defense stocks weigh on sentiment.
Companies Mentioned: SK Hynix, Samsung Electronics, NVIDIA, Varonis Systems, Alibaba
S&P futures are trending slightly higher following the Thanksgiving holiday. We note that the U.S. markets will close early today at 1 PM Eastern Time. Asian markets ended mixed in quiet trading on Friday. Nikkei edged higher, while the Hang Seng closed marginally lower. Mainland China saw modest gains, and South Korea’s Kospi fell sharply due to weakness in chip stocks. European markets are flat to mixed, following firmer levels on Thursday.
Companies Mentioned: Jefferies Financial, Getty Images, Baidu
US equity futures point to a firmer open after Tuesday’s gains. Asian markets traded broadly higher, while European equities also opened firmer. US consumer confidence fell sharply in November, missing expectations and hitting a seven-month low, while September retail sales also came in softer than forecast, reinforcing concerns about slowing consumer momentum; Markets turned more dovish on policy after mixed US data, with expectations for a December rate cut from the Federal Reserve rising above 80%, alongside comments from Fed officials favoring meaningful easing; Bloomberg reported that Kevin Hassett has emerged as the leading candidate to replace Jerome Powell as Fed chair, adding to the dovish policy narrative.
Companies Mentioned: Pershing Square Capital Management LP, Warner Bros. Discovery, Netflix, Venture Global, Shell
S&P futures are pointing to a flat to slightly lower open today. Fed Funds Futures now show an 81% chance of a December rate cut, up from 70% yesterday, following dovish remarks from Fed Governor Waller. Asian markets ended mostly higher on Tuesday, extending Monday’s momentum. Japan closed flat while Greater China markets, Korea, and Australia all posted modest gains. European markets are narrowly mixed, with the STOXX 600 up +0.2% and the FTSE 100 flat.
Companies Mentioned: Google, Spotify, Global Business Travel Group
US equity futures are firmer with S&P up 0.7%. European equity markets are firmer and Asian markets mostly higher. For US, bonds are steady to firmer after rallying last week. US 10-year at 4.1%. Gilts 2 bps lower at 4.5%. Dollar is firmer versus yen, sterling and Swiss franc, slightly softer versus euro and Aussie. Oil down. Gold lower. Industrial metals mixed. Bitcoin firmer.
Companies Mentioned: SITE Centers, Stellantis, Blue Owl Capital, Nvidia
US equity futures point to a firmer open. Asian markets traded sharply lower, while Europe opened weaker as risk-off sentiment continued. US markets extended their rotation out of Big Tech and AI-linked names as Nvidia surrendered its post-earnings gains amid renewed concerns around stretched valuations, circularity, capex monetization, and broader AI bubble skepticism; Labor-market softness moved into focus after a mixed jobs report showing cooler wage growth, upward pressure on unemployment, multi-year highs in continuing claims; Furthermore, momentum unwind corresponding with doubts about prospect of Fed rate cut in December after delayed September nonfarm payrolls report was mixed and ongoing Fed policymaker divide left markets pricing in ~40% chance of a reduction.
Companies Mentioned: GE HealthCare Technologies, Enviri, Blackstone
US equity futures point to a strong open, with S&P 500 futures up about 1.2%. Asian markets traded mostly higher, and European equities also opened firmer. Nvidia delivered another beat-and-raise and reiterated expectations for more than $500B in Blackwell and Rubin revenue through 2026, with guidance assuming no China contribution due to ongoing restrictions; Furthermore, the October FOMC minutes showed “many” participants supported keeping rates unchanged for the rest of the year, reinforcing a divided policy outlook and keeping attention on December cut odds; In addition, geopolitical attention rose after reports that US and Russian officials drafted a new plan to end the Ukraine war that includes territorial concessions and a rental-fee framework, adding another layer of uncertainty to global risk sentiment.
Companies Mentioned: Palo Alto Networks, Warner Bros. Discovery, Netflix, Dominion Energy
S&P futures are pointing to a flat open today. Investors are awaiting NVIDIA’s earnings after the close, with the company expected to post another big beat on the back of surging AI demand. However, concerns over valuations remain a key talking point. Asian equities finished a choppy Wednesday session with most markets traded lower. European stocks are slightly weaker, following Tuesday’s sharp declines.
Companies Mentioned: NVIDIA, Warner Bros. Discovery, Onity Group
S&P futures are down (0.3%) and pointing to a slightly lower open today. Asian equities ended Tuesday trading broadly lower, with the Nikkei leading the declines, down over (3%), followed by the Greater China markets. Markets saw steep losses in large-cap tech and semiconductors ahead of NVIDIA’s earnings on Wednesday. Concerns are mounting over high valuations in AI-related stocks, a key driver of this year’s market rally. European markets are also sliding now, with the STOXX 600 down (1.2%).
Companies Mentioned: NVIDIA, Axalta Coating Systems, Databricks
Asian equities were mixed, while European equity markets are weaker. US equity futures are firmer with S&P up 0.5%. Bonds are firmer. US 10-year yield down 2 bps at 4.1%. Dollar firmer versus euro, Japanese yen and Aussie. Sterling little changed. Oil down, gold lower. Industrial metals weaker. Sentiment is still somewhat negative in Europe after Friday's selloff on rising uncertainty in AI complex and rotation out of high-multiple equities. In addition, hawkish Fedspeak keeping December rate cut at 50/50 odds. Markets have also been assessing rising friction between Japan and China over PM Takaichi's comments on Taiwan. Beijing urged citizens to avoid travel and study in Japan. China's Coast Guard also sent armed ships through disputed waters near Senkaku Islands.
Companies Mentioned: Goldman Sachs, Affinity Equity Partners, Airbus SE, Pratt & Whitney, Flydubai, Grindr
US equity futures point to a weaker open. Asian markets traded sharply lower, while European equity futures also signaled early losses. Big tech remains the market’s key pressure point after broad declines Thursday, with Tesla, Nvidia and Google leading weakness as AI-linked momentum unwound. Furthermore, labor-market softening stayed in focus after reports that Verizon plans to cut about 15K jobs, while the extended data vacuum drew attention given that after next week’s likely September payroll release, major macro data are not expected again until early December. Macro uncertainty tightened after hawkish Fed commentary pushed December rate-cut odds below 50% and lifted Treasury yields. In addition, China’s latest activity and credit data showed industrial production, retail sales and fixed-asset investment weakening to the slowest pace in over a year, reinforcing global risk-off sentiment.
Companies Mentioned: Nvidia, Paramount, Comcast, Netflix, Warner Bros, Apple, OpenAI
US equity futures point to a softer open. Asian markets traded broadly higher, while European equities traded mostly higher. The spending bill signed by President Trump ends the record 43-day government shutdown, though October CPI and payrolls are still unlikely to be released, prolonging uncertainty for Fed policy. While resumption of Fed easing has been a component of the bullish narrative, Fed policymakers still divided on policy path. Market pricing in 60% chance of Dec rate cut, down from 67% day before. Furthermore, OPEC’s latest forecast for a more balanced oil market next year weighed on crude, extending a broader reset across commodities.
Companies Mentioned: Sealed Air, Alibaba, Amazon, PDD Holdings, SHEIN
S&P futures are up +0.3% and pointing to higher open today. Asian markets ended Wednesday trading mostly higher, with gains seen in Japan, Korea, Hong Kong, Singapore, and Taiwan. European equities are also higher in early trades, following a strong close on Tuesday. Risk sentiment is firm as the U.S. government appears close to reopening, with the House set to vote on a funding compromise. Softer ADP payrolls have sharpened concerns about a cooling labor market, pushing markets to price roughly a 70% chance of a December Fed rate cut. Media reports suggest policymakers remain divided, leaving the December decision finely balanced.
Companies Mentioned: Blackstone, Bill Holdings, Teck Resources
S&P futures are down (0.2%) and pointing to a slightly lower open today. Asian markets delivered a mixed performance on Tuesday. AI-related tech stocks underpinned the gains in Japan and Korea, while Mainland China and Australia both saw modest losses. Tuesday’s session saw Monday’s rally fade amid a lack of catalysts and mixed U.S. futures. The brief lift from the U.S. government shutdown resolution gave way to familiar concerns: stretched valuations, earnings quality, uneven economic data, and trade risks. Trade was in focus after reports that Beijing is reviewing a rare-earth export framework that could limit access for companies linked to the U.S. defense sector. Despite the softer tone, Singapore and Indonesia each notched new record highs. European equity markets are higher in early trades, building on Monday’s strong performance.
Companies Mentioned: C3.ai, Boeing, NVIDIA
S&P futures are pointing higher today. Asia equities ended higher, Europe opened with strong gains. US dollar unchanged. Treasury yields higher across tenors, JGB yields also up. Crude oil futures higher. Precious metals up with gold back above $4K. Base metals mixed. Cryptocurrencies also rallying. Risk sentiment supported on news that US Senate is nearing deal to end government shutdown with enough Democrats in support. Compromise said to involve fully funding Departments of Agriculture and Veterans Affairs for a year while partially funding other agencies through 30-Jan. Agreement guarantees laid-off federal employees will be re-hired and given backpay. Any deal would also unblock release of delayed economic data, providing colour on December rate cut prospects. White House also warned of a potentially negative Q4 GDP print from shutdown that extended past Thanksgiving.
Companies Mentioned: Accor, Metsera, Pfizer, Novo Nordisk
S&P futures are pointing to slightly higher open today. Asian markets wrapped up the week on a weak note as valuation concerns and tech sector warnings drove losses across the region. European equity markets opened mostly softer. China’s dollar exports fell (1.1%) y/y in October, missing expectations for +3.0% and reversing September’s +8.3% rise—the first contraction since February. Shipments to the U.S. dropped (25%) y/y, extending a seven-month run of double‑digit declines and taking the YTD fall to nearly (18%). Exports to ASEAN +~11% and the EU +1% slowed, while sales to South Korea, Russia, and Canada fell by double digits.
Companies Mentioned: Comcast, Warner Bros. Discovery, NVIDIA, BlackLine
US equity futures point to a softer open. Asian markets traded broadly higher, while European equities opened lower. Focus remains on US tech earnings afterhours. Qualcomm guided Q1 revenue above forecasts, though below the most bullish expectations, while ARM’s profit outlook exceeded estimates, reflecting data center demand. In central bank news, the Fed’s hawkish comments continued to weigh on sentiment, while the BoE decision today is seen as finely balanced. Meanwhile, the US-China trade truce continues to dominate headlines, but not much specific behind move as recent angst surrounding stretched valuations, big tech index concentration, narrow breadth and AI capex ROI remain overhangs, not expected to go away anytime soon. However, still no signs of panic, while buy-the-dip narrative has been extremely resilient on the back of elevated retail buying.
Companies Mentioned: Charles Schwab, Forge Global, Marvell Technology, Softbank, OpenAI
S&P futures are pointing to flat open following Tuesday's selloff. European equity markets are edging lower in early trades, though the FTSE 100 is bucking the trend, supported by strength in defensive sectors. Asian markets ended largely lower today, with Japan's Nikkei and South Korea’s Kospi both losing over (3%) as tech stocks faced sustained selling pressure. Major losses came from SoftBank, Advantest, and Tokyo Electron in Japan; Samsung and SK Hynix in South Korea; and TSMC in Taiwan, dragging respective indices lower. The Kospi is on track for its worst day since April.
Companies Mentioned: Axon Enterprise, Alphabet, AMD
S&P futures are down (1%) and pointing to a lower open today as global equity markets retreat following hawkish Fed commentary. Concerns over the sustainability of AI-linked valuations, rising debt issuance in the sector, and regulatory scrutiny in Asia are weighing on technology stocks globally. Technology stocks in South Korea and Japan were hit hard, with SK Hynix and Samsung Electronics down over (5%) each. Australia also saw sharp declines following the RBA’s inflation revisions. European markets are also broadly lower in early trades.
Companies Mentioned: Starbucks, Denny's, Viper Energy
US equity futures were higher Monday. Asian equities broadly firmed, led by a record-setting Kospi surge, while European markets opened stronger. Investor sentiment improved after the White House detailed the Trump-Xi trade truce. In addition, OPEC+ decided to pause output increases, lifting crude prices. Meanwhile, South Korea’s export recovery accelerated in October, while Taiwan’s PMI remained in contraction. On the policy front, multiple Fed officials delivered hawkish remarks, signaling caution on further rate cuts, though market reaction was muted.
Companies mentioned: NVIDIA, Amazon, Westpac Banking
US equity futures rose Friday after Thursday’s selloff. Asian equity markets were mixed, and European markets opened mostly softer. The market focus stayed on the “Mag 7” earnings. Amazon shares jumped 13% after hours on accelerating AWS growth and a guidance upgrade, while Apple gained 2% on strong holiday iPhone demand guidance despite weaker China sales. Meanwhile, markets continued to digest the Fed’s rate-cut message, while number of sell-side firms reiterated expectations for a December rate cut, upward pressure on rates has persisted, with flatter rate cutting path seen through year-end 2026. On the other hand, the Trump-Xi meeting delivered widely expected trade truce, though broad strokes had already been reported and détente still seen as fragile.
Companies Mentioned: Netflix, Warner Bros., Intel, Coherent
US equity futures were steady Thursday, Asian equity markets ended mixed and European markets opened mostly lower. Markets continued to digest the Trump–Xi meeting outcome, where the US agreed to lower tariffs on China to 47% in exchange for resumed soybean purchases and a one-year pause on rare earth curbs, as well as cracking down on fentanyl precursors. In addition, the US and South Korea finalized a trade deal involving $350B in South Korean investment for tariff relief. Monetary policy was another focus as the Fed delivered a 25 bp rate cut but signaled caution about further easing, with Chair Powell stressing that a December cut is “far from” certain. Meanwhile, the ECB is expected to keep policy unchanged, while the BoJ held rates steady with two dissenters again voting for a hike.
Companies Mentioned: Warner Bros., Liberty Global, Telefonica, OpenAI
S&P futures are up +0.3% and pointing to higher open as investors gear up for a packed day of earnings. Meta, Microsoft, and Alphabet are all scheduled to report after the close. Asian markets closed mostly higher, with the MSCI APAC ex-Japan index reaching a fresh record high. European equity markets opened mostly softer today, though the FTSE 100 is edging higher, supported by miners and the energy sector.
Companies Mentioned: NVIDIA, Apple, Ryerson Holding, Olympic Steel
S&P futures are pointing to a flat open today after a strong Monday session. The early-week risk-on sentiment in markets is driven by signs of US-China trade de-escalation, as Presidents Trump and Xi are expected to approve a framework agreement negotiated over the weekend. However, some reports highlight that the deal primarily restores a fragile trade truce rather than addressing deeper, unresolved issues in the bilateral relationship. Asian markets finished lower on Tuesday, while European markets opened broadly softer.
Companies Mentioned: BlackLine, Qorvo, MarineMax
US equity futures are indicating a higher open today. Europe markets have opened higher in early trades. And Asian markets have wrapped up the day higher almost everywhere as trade tensions around the world eased significantly. US and China finalized an outline trade agreement on Sunday, which has been the factor behind the positive sentiment. Japan's Nikkei broke through 50K for the first time in a broad rally. Taiex and Kospi also at fresh record highs.
Companies mentioned: Plymouth Industrial REIT, Novartis, Avidity Biosciences, SoftBank, Sony, Warner Bros Discovery
US equity futures were firmer Friday. Asian markets were mostly higher, and European markets opened slightly weaker. The oil market was the main focus as prices spiked after Washington imposed sweeping sanctions on Russia’s two largest oil producers, a move expected to disrupt near-term crude flows to China and India. In trade developments, the White House confirmed President Trump will meet President Xi at the October 30th APEC summit, though no major breakthroughs are expected. Reports suggest Washington is preparing new curbs on software exports to China and may launch a Section 301 probe into Beijing’s trade-deal compliance. Earnings sentiment stayed upbeat as companies broadly exceeded expectations, while retail trading volumes hit their highest level in five years, underscoring elevated investor participation.
Companies Mentioned: Disney, Alphabet, Target, General Motors, Stellantis
US equity futures are firmer after Wednesday’s losses. Asian markets ended mixed, and European equities opened also mixed. Market sentiment remained focus on geopolitics. The White House is reportedly preparing to curb exports of software-related products to China, including laptops and aviation components, raising concern over a potential escalation in trade tensions. However, President Trump continued to talk up prospects of a deal with President Xi at their upcoming APEC meeting. In energy markets, oil surged after Washington imposed sanctions on Russia's two largest oil producers, Rosneft and Lukoil, for undermining Ukraine peace efforts, while Europe moved toward banning Russian LNG imports. Earnings also drew focus, with high-profile misses from Netflix and Texas Instruments offset by strength in industrial and energy names.
Companies Mentioned: Warner Bros. Discovery, Airbus, Leonardo, Thales, Starlink, IonQ, Quantum Computing, Rigetti Computing, D-Wave Quantum
S&P futures are up +0.1% and pointing to another flat open. Asian equities were mostly lower today. Greater China markets underperformed due to weakness in tech names and ongoing concerns about China’s economic recovery. Australia’s ASX fell sharply as gold miners tracked steep losses in the precious metals market. European equity markets also opened lower. The FTSE 100 stood out with a +0.7% advance, supported by strength in miners and energy stocks as oil prices climbed.
Companies Mentioned: GE Vernova, Alphabet, Meta Platforms
S&P futures are up +0.1% and pointing to a flat open. Asian equities broadly advanced, buoyed by optimism over US-China trade relations and strong gains in Chinese and Japanese markets. European equity markets also opened higher, following Monday's broad-based gains. Markets initially reacted positively to signs of easing US-China trade tensions but have since pared gains. President Trump expressed optimism about reaching a deal with President Xi at the upcoming APEC summit, while reiterating the threat of a 100% tariff if no agreement is reached by November 1st.
Companies Mentioned: Apple, Core Scientific, Flour
S&P futures are up +0.4% and pointing to a higher open. Asian equities began the week's trading on a high note, with Japan's Nikkei surging over +3% as political clarity boosted sentiment. Hong Kong's Hang Seng also gained +2.4%, led by sharp advances in big tech. European markets are also higher in early trade as gains are being supported by easing US-China tensions and strong momentum from Asian markets. However, the French CAC is lagging slightly, following S&P’s decision to downgrade France’s credit rating late last week.
Companies Mentioned: Tesla, Hologic, The Cooper Cos, Boeing
US equity futures lower with S&P down (1.4%). European equity markets are sharply lower, follows firmer close on Thursday. Asian equity markets were weaker. Bonds strengthen, tracking big move in treasuries which sees US 10-year at 3.95%. Dollar is weaker. Oil down. Gold extends to new record high. Industrial metals mixed. Bitcoin lower. Markets have been keying off renewed turbulence in US regional banking space after KRX fell 6% to four-month low amid regional-bank credit concerns, which added to concerns over souring loans following collapse of subprime auto lender Tricolor and autoparts maker First Brands. Developments drew attention to JP Morgan CEO Jamie Dimon's warning about potential for more revelations. Press also highlighted concerns stemming from riskier credit as big investors dial back exposure.
Companies Mentioned: CME Group, Eli Lilly, Novo Nordisk
S&P futures are up +0.3% and pointing to a higher open today. Asian equities posted mixed results on Thursday, with Japan's Nikkei up +1.2% and Korea's Kospi outperforming on optimism around U.S.-South Korea trade talks. European markets opened narrowly mixed. The Trump administration maintained a hawkish stance on trade as U.S.-China tensions escalated. USTR Greer criticized China's new rare earth export restrictions, labeling them a global supply chain power grab and a violation of trade agreements. Treasury Secretary Bessent dismissed reports that China is leveraging U.S. stock market concerns to push for negotiations, asserting the U.S. won't capitulate due to market fluctuations.
Companies Mentioned: Microsoft, Estée Lauder, SL Green Realty
S&P futures are up +0.5% and pointing to a higher open today. Asian markets posted solid gains on Wednesday, led by Japan’s Nikkei and Hong Kong's Hang Seng, both up over +1.5% as tech shares rebounded. European markets are also moving higher in early trades. The French CAC is leading with a +1.5% advance as French PM Lecornu’s willingness to suspend pension reform to secure political support provided some relief, though a vote of confidence is looming on Thursday. U.S.-China trade tensions continue to generate volatility, with President Trump indicating on Truth Social a potential halt to trade on cooking oil products, citing China’s refusal to purchase U.S. soybeans. This follows recent threats to double tariffs in response to China’s expanded rare earth restrictions, although Trump later reassured that resolution is possible.
Companies Mentioned: Apple, Eli Lily, Papa John's
S&P futures are under pressure, down (1%) as risk sentiment deteriorates following Asian equity weakness and reports that Beijing imposed fees on U.S.-related shipping. China has added five U.S. units of Hanwha Ocean to its sanctions list, escalating trade tensions with the U.S. The move prohibits these entities from conducting business with China and follows reciprocal fee hikes on ships at ports by both nations. Japan’s Nikkei fell near (3%) today after reopening post-holiday, while Hong Kong also dropped (1.3%). European markets mostly opened in the red with major benchmarks down near (1%).
Companies Mentioned: Goldman Sachs, Broadcom, Ford, Robinhood
US equity futures sharply higher with S&P up around 1.5%. Follows worst S&P session on Friday since early April Liberation Day slide. European markets are higher while Asia's ended largely lower. Bonds are firmer in Asia after Treasuries made big gains on Friday. 2-year yield flat to 3.5% and 10-year flat to 4.1%. Dollar slightly higher versus European FX majors and Japanese yen, softer versus Aussie. Oil up. Gold rallies to fresh record high. Big gains also in copper and industrial metals space. Bitcoin near two-week low. Spike in US-China trade tensions remained talking point over the weekend after President Trump on Friday announced additional 100% tariffs on China in response to what he described as hostile actions by Beijing involving announcement of rare earths export curbs, a Qualcomm antitrust probe, tightened customs inspections of Nvidia chip imports, and new port fees for US ships.
Companies Mentioned: RPMGlobal Holdings, Big Yellow Group, Blackstone, Caterpillar
US equity futures are firmer. Asian equities ended mostly lower, and European markets opened mostly higher. Market attention remains centered on the AI sector, with growing debate over stretched valuations, circular investment flows, and limited productivity gains raising bubble concerns. In Washington, the government shutdown continues with little progress, as discussions shift to potential broader disruptions and delayed data releases. On the geopolitical front, Israel and Hamas have agreed to a ceasefire and the return of remaining hostages, while investors continue to monitor its potential impact on regional stability and energy markets.
Companies Mentioned: NVIDIA, Coinbase, Mastercard, AIG, Allianz, Coface
US equity futures are slightly higher. Asian equities advanced broadly, and European markets opened mostly softer. Market sentiment remained positive following a rebound in the AI sector, with Nvidia leading large-cap tech gains and continued momentum from recent M&A headlines. September FOMC minutes confirmed most policymakers favored holding rates steady, aligning with Chair Powell’s recent hawkish tone. Traders continued to price in the Fed’s risk-management stance amid mixed signals on inflation and labor market risks. Meanwhile, the 10-year Treasury auction tailed slightly, reflecting softer foreign demand.
Companies Mentioned: NVIDIA, Blackstone, Civitas Resources, SM Energy
S&P futures are up +0.2% and pointing to a slightly higher open. Asian markets were mixed with Japan and Hong Kong lower. New Zealand posted modest gains after a surprise RBNZ rate cut. Mainland China and South Korea remained closed for holidays. European markets are all firmer in early trades. Gold prices surpassed $4,000/ounce for the first time, driven by haven demand amid economic, fiscal, and geopolitical uncertainties. Year-to-date, gold has delivered over +50% returns, supported by concerns over potential market shocks, a possible US government shutdown, and expectations of further Federal Reserve monetary easing. Bullion-backed ETFs experienced their largest monthly inflows in over three years in September.
Companies Mentioned: Exxon Mobil, Intel, NVIDIA, Confluent
US equity futures are slightly softer. Asian markets are mostly higher, and European equities opened flat to lower. US stocks extended record highs Monday on continued optimism around AI and stable Fed expectations, while AMD surged after announcing a multibillion-dollar partnership with OpenAI. Political developments dominated global headlines — French Prime Minister Lecornu resigned, and Japan’s new LDP leader Takaichi’s victory fueled expectations for debt-funded stimulus. Rating agencies warned about France’s credit outlook, with BCA Research calling French bonds “uninvestable.”
Companies Mentioned: Apollo Global Management, Itron, Science Applications International
US equity futures are firmer with S&P up 0.25%. Asia equities trading mixed, European equity markets are lower. US 10-year yield add 2 bps at 4.14%. Dollar seeing decent gains versus Japanese yen, firmer versus euro and sterling. Softer versus Aussie. Oil gains. Gold at new high. Bitcoin also logged new record high. No real movement toward an end to the shutdown, though latest updates have focused on political implications that could ultimately offer path to resolution. A recent media report said the White House is increasingly concerned that allowing ACA healthcare subsidies to expire will become a political vulnerability for Republicans, worry GOP will take blame for allowing healthcare costs to jump ahead of next year's midterms. Potential for mass firings of federal workers remains a key market overhang given potential for economic implications beyond shutdown period.
Companies Mentioned: Firefly Aerospace Inc, Critical Metals, Brookfield Asset Management
US equity futures are firmer. Asian equities ended mostly higher, and European equities opened firmer. The US government shutdown remained the main headline focus, though markets have treated it as noise for now. Concerns are growing about potential mass firings of federal employees and delayed economic data releases, including nonfarm payrolls and CPI, that could complicate the Fed’s ability to assess conditions ahead of an expected October rate cut. Market is continuing to price in ~90% chance of October rate cut. In addition, AI-driven momentum continued to dominate market sentiment, with global semis rallying as OpenAI struck deals with Asian chipmakers on Stargate cooperation.
Companies Mentioned: Boeing, Nvidia, Alphabet
US equity futures are firmer. Asian markets advanced, and European equities opened firmer. Soybeans have become a flashpoint in US-China trade talks after President Trump criticized Beijing for halting US purchases, saying he will raise the issue with President Xi next month. In addition, the US government shutdown continued after the Senate again failed to pass stopgap funding legislation, however, shutdown widely telegraphed and remains more noise than news, though data delays and Trump threat of mass federal worker firings the near-term; Meanwhile, US macro releases showed weakness, with September ADP private payrolls falling, though September ISM manufacturing improved modestly from August.
Companies Mentioned: OpenAI, Exxon Mobil, Apple
US equity futures are weaker. Asia finished mixed, and European equities opened narrowly mixed. Focus remained on the US government shutdown after funding legislation failed to pass, though the Street continues to downplay broader economic risks. Market participants flagged the delay of key economic releases. AI names continued to attract attention with NVIDIA outperforming, while pharma stocks gained on favorable drug pricing developments. Trade tensions were also in focus after USTR Greer said 55% China tariffs remain "status quo" and Republicans voiced skepticism over renewed Chinese agricultural purchases. Greer was more positive on prospects of trade deals with South East Asian countries when Trump visits region next month.
Companies Mentioned: Meta Platforms, Lithium Americas, AES Corp
S&P futures are down (0.2%) and pointing to a slightly lower open. The White House expanded its export blacklist to include subsidiaries of firms like Huawei and SMIC, raising fears of heightened trade tensions. Separately, Trump announced new tariffs on timber, lumber, and furniture imports, though countries with trade deals will see tariffs capped at negotiated rates. Asian markets were mostly higher today with Greater China outperforming, while European benchmarks are mostly in the red in early trades.
Companies Mentioned: Boeing, Exxon Mobile, Coty
US equity futures are higher with S&P going up. European and Asian equity markets both higher. Hang Seng outperforms amid tech gains. Bonds firmer, which sees US 10-year yield off 4 bps at 4.1%. Dollar softer, oil down, gold up. Industrial metals are mostly firmer. After global pharma shares came under pressure last Friday from President Trump's announcement of a 100% tariff on branded drugs, Europe and Japan officials expressed confidence that their levies will be capped at the 15% stipulated in their respective trade agreements with US, according to press. White House official said UK faces 100% levy given there was no specific stipulation for pharmas in their US deal. Sources indicated British government set to concede UK should pay more for some medicines and Starmer chief business adviser Chandra will travel to Washington next week to convey such overtures.
Companies Mentioned: TotalEnergies, Occidental Petroleum, Merus, Genmab
S&P futures slightly higher, treasuries were weaker with the curve flattering. Asia equities ended mostly lower. European equities have been recovering from three-week lows. Yield flat to 3.7% at the short end, 10-year flat to 4.2%. Gold finished up, WTI crude was little changed at settlement. Dollar index up, bitcoin futures were down, but came off worst levels. Path of least resistance remained lower, as it has been over the last few days. Rates remains an overhang on sentiment as market dials back some of its near-term easing expectations. Thursday's macro data became the latest driver, particularly with another notable decline in initial claims. In addition, outside of Miran, Fed-speak today again highlighted some preference for a more cautious approach to easing.
Companies Mentioned: AAR Corp, Heritage Financial, Olympic Bancorp, Tiptree, DB Insurance
US equity futures are slightly higher. Asia mostly advanced, and European equity opened little lower. Fed commentary continued to temper expectations for near-term rate cuts; Market focus remains on Friday’s core PCE release and potential month-end rebalancing, with Goldman projecting $22B in US pension selling pressure; In other trade news, US-China tech and trade tensions persisted, with Washington launching new S.232 tariff probes into robotics, industrial machinery and medical equipment, and Reuters sources noted G7 and EU weighing rare earths price floors, as well as a tariff on Chinese rare earths imports, in bid to reduce reliance on China. Reports of upcoming US-China technical trade talks next Thursday and executive order on TikTok deal may be signed.
Companies Mentioned: Anglogold Ashanti, TechnoPro Holdings, Blackstone, Federal Signal
US equity futures are slightly higher. Asian markets were mixed, and European equities opened lower. Focus stayed on AI and Big Tech weakness after Monday’s strength; Federal Reserve Chair Powell reiterated inflation risks remain tilted to the upside, while other Fed officials signaled differing views on the pace of rate cuts; Geopolitics is also in focus after President Trump met with Zelenskiy and later declared Ukraine could retake all occupied territory, Kyiv welcomed remarks as "big shift", though no new US policy measures.
Companies Mentioned: Alibaba Group, Nvidia, Lithium Americas, OpenAI
S&P futures are flat. NVIDIA’s $100B strategic investment in OpenAI continues to support global sentiment around AI-related growth. Asian markets finished mixed with South Korea outperforming. After a strong bull run in tech stocks, concerns over a liquidity-driven bubble and regulatory oversight have led to a second day of declines in Chinese markets. European equities are firmer in early trades.
Companies Mentioned: Boeing, NVIDIA, TSMC, TikTok
S&P futures are down (0.3%) with major tech names edging lower in pre-market trading. Asian equities finished Monday mixed. Japan's Nikkei rebounded after Friday’s BOJ-related drop, and the Hang Seng underperformed. Gains were seen in Australia, Taiwan, and South Korea, supported by semiconductor optimism. European benchmarks are mostly softer in early trades.
Companies Mentioned: TikTok, Pfizer, Boeing, Comcast
US equity futures are slightly softer. Asia ended mixed, and European equities opened mostly firmer. Focus remained on the Fed’s rate cut cycle with markets highlighting the positive historical backdrop for equities despite rate headwinds from longer-dated yields. The September Philly Fed manufacturing index surged well above expectations, while weekly jobless claims normalized from last week’s distortions. Headlines also centered on the Nvidia/Intel partnership, Trump’s Supreme Court request to fire Fed Governor Cook, and confirmation of a 5-Nov hearing on IEEPA tariffs. Markets also looked ahead to the Trump–Xi call scheduled for Friday where trade, tariffs, and technology were expected to feature.
Companies Mentioned: Jefferies Financial Group, SMFG, Altria Group, Philip Morris International, Cracker Barrel
US equity futures pointed higher with the S&P up around 0.5% following the Fed’s rate cut. European equity markets were firmer, while Asian equities were mostly higher. The Fed cut rates by 25 bp and signaled another 50 bp of easing this year. Chair Powell flagged labor market slowdown as a supply issue, cautioned inflation risks remain, and emphasized there was no widespread support for a 50 bp cut. Market focus also on political interference concerns. AI trade came under renewed pressure after reports Beijing ordered big tech firms to stop buying Nvidia chips, with Huawei and Alibaba stepping up their domestic chip push.
Companies Mentioned: Apple, Alphabet, Walt Disney, Nexstar Media
Ahead of today’s FOMC decision, S&P futures are pointing to a flat open. Asian equities ended Wednesday trading mixed, with the Hang Seng surging on strength in internet and technology stocks, while European equity markets are mostly firmer in early trades. Attention is focused on the upcoming Federal Open Market Committee decision, with a 25 basis point rate cut fully priced in. Market reactions may hinge on Fed commentary and the updated dot plot, which will shape expectations for approximately 150 basis points of easing over the next year.
Companies Mentioned: Tiktok, Apple
S&P futures are up +0.2% and pointing to a higher open. Markets are also in a holding pattern ahead of key central bank decisions this week, with the Fed widely expected to cut rates by 25 bps on Wednesday and attention on the updated dot plot, while the BOJ is seen holding on Friday. Asian equities were mostly higher today with Japan and Greater China outperforming, and European markets are narrowly mixed in early trades. The US and China reached a framework agreement on TikTok ownership during talks in Madrid. While details remain unclear, discussions include potential licensing of TikTok's algorithm, with Beijing hesitant to fully transfer control to the US.
Companies Mentioned: TikTok, Nvidia, Chord Energy, Oracle
US and European futures are slightly higher. Asian equities tilting lower. US 10-year stays at 4.1%, 2- year yield flat to 3.6%. Gilts steady. Dollar softer versus yen, sterling and Aussie. Euro flat. Oil up. Gold down. Industrial metals firmer. Bitcoin gains. US and Chinese officials met in Madrid on Sunday to discuss issues such as trade and TikTok. Follows cautious-leaning press in lead-up to meeting with two sides said to be divided over fentanyl. Beijing's hesitation to cede TikTok's algorithm reportedly sticking point in sale negotiations. China also launched probe into US chips, day after US put more Chinese firms on an entity list. Divisions are seen imperilling likelihood of Trump and Xi summit in Beijing.
Companies Mentioned: JD.com, Peraso, Mobix Labs, TikTok
S&P futures are pointing to a lower open today, down (0.6%). European equity markets also opened in the red, with the major indices roughly down by (0.5%). Asian markets traded mixed with Greater China markets outperforming. The Hang Seng surged +1.8%, boosted by gains in consumer-oriented and property stocks, while the Shanghai Composite hit a 3.5-year high. President Trump announced a 35% tariff on Canadian goods not covered by the USMCA, effective 1-Aug, increasing from the current 25%. Energy-related goods remain at a 10% tariff. Trump hinted at potential baseline tariffs of 15 to 20%, up from the current 10%, and suggested similar measures might target the EU soon.
Companies Mentioned: Google, Boyd Gaming, Panasonic
S&P futures are pointing to a slightly lower open today, down (0.2%). Asian equities were mostly higher Thursday, supported by gains in Greater China markets. European equity markets are also broadly firmer, with the FTSE 100 leading at +0.7%. President Trump issued additional tariff letters targeting smaller trading partners. Japan is reportedly organizing trade talks with U.S. Treasury Secretary Bessent next week, while U.S.-Brazil relations remain tense after Trump threatened 50% tariffs. However, markets remain largely unshaken, with expectations of reprieves closer to the August deadlines.
Companies Mentioned: WK Kellogg, Canada Goose, Amazon
S&P futures are pointing to a flat open today. Asian markets traded mixed today with Japan’s Nikkei logging small gains, supported by resilience in manufacturing. The Hang Seng underperformed, as property and tech stocks lagged. European markets are trading higher, with the DAX and CAC leading gains. President Trump announced a 50% tariff on copper, set for late July or early August implementation, and proposed a 200% tariff on pharmaceuticals with a longer timeline. He ruled out extending the August 1 deadline, emphasizing his tough stance on trade while accusing BRICS nations of undermining the U.S. dollar and threatening an additional 10% tariff.
Companies Mentioned: Apple, Starbucks, Merck, Verona Pharma, AES Corp
US equity futures are little changed. European markets pointed to a weaker open, while Asian equities finished mostly higher. The market focus remains on trade developments after President Trump began issuing tariff letters to countries without deals, including Japan and South Korea, which now face 25% base tariffs starting 1-Aug. The White House said more letters will follow, though emphasized flexibility on the deadline and openness to negotiate rates. Reuters reported the EU is likely exempt, signaling progress toward a deal. Trump also threatened an additional 10% tariff for countries pursuing "anti-American" BRICS-aligned policies.
Companies Mentioned: Blackstone, SFR, Shein, Hess, Chevron, Exxon Mobil
US equity futures are lower with S&P pointing down. Bonds mixed. US 10-year yields holding at 4.3%, and 2-year down to 3.9%. Asian markets are trading mostly lower, European equity markets narrowly mixed. Dollar firmer. Oil down after OPEC+ producers announced agreement to boost crude output by larger-than-expected 548Kbpd in August. Gold lower. Industrial metals weaker. Tariff deadline nears as US warns it will begin imposing "take it or leave it" trade terms. Treasury Secretary Bessent warned tariffs to revert to Liberation Day/steeper levels though also signaled some leeway by adding that new tariffs to take effect on 1-Aug. Still there's some uncertainty whether Asian countries can secure trade agreements with US by the deadline.
Companies Mentioned: Capgemini, WNS Holdings, META Platforms, NFDG, ByteDance
S&P futures are pointing to a slightly higher open today, up +0.1%. Asian markets had a mixed session on Thursday. The Hang Seng dropped (0.6%) amidst weakness in property stocks while Japan’s Nikkei dipped as uncertainty around trade talks weighed on sentiment. European markets are broadly higher in early trades, with the STOXX 600 up +0.3% and the FTSE 100 leading at +0.5%. President Trump announced a trade deal with Vietnam, imposing a 20% tariff on exports to the U.S. and 40% on transshipments, reduced from an earlier proposed 46%. The U.S. will face zero tariffs on exports to Vietnam, though specifics on product groups and transshipment provisions remain unclear.
Companies Mentioned: Old Point Financial, Apollo Global Management, TripAdvisor
S&P futures are pointing to a higher open today, up +0.2%. Asian markets finished Wednesday trading mostly lower, with the Hang Seng slightly higher and Japan's Nikkei weighed down by renewed tariff concerns. European equities are broadly showing strength in early sessions with the French CAC leading gains. President Trump stated he is not considering extending the July 9 deadline for resuming higher tariffs and reiterated the possibility of imposing duty rates on several nations, including Japan. Trump criticized Japan's limited U.S. rice imports and imbalance in auto trade, suggesting future tariffs could range from 30% to 35%.
Companies Mentioned: Paramount Global, Intel, Spectris
US equity futures are fractionally lower after yesterday’s rally pushed the S&P 500 and Nasdaq to fresh record closes. Europe opened firmer and Asia finished mixed. Overnight narrative was largely upbeat, growing Fed rate cut expectations have provided the key directional driver, partly fueled by Trump scrutiny of Powell. Trade headlines remain front-and-center ahead of the 9—July tariff deadline: the White House says framework agreements with Canada and the EU are moving forward, while Japan and India talks still face sticking points over autos and market access. Senate Republicans continue amendment votes on the wide-ranging tax-and-spend bill, with final passage expected before the holiday. Soft US regional-activity surveys and falling job-vacancy indicators are feeding rate-cut expectations ahead of Thursday’s non-farm payrolls and Chair Powell’s remarks at Sintra this morning.
Companies Mentioned: TikTok, Paramount Global, OpenAI, Alphabet
US equity futures are higher with S&P up 0.4%. US 10-year and 2-year yield both point down . Dollar softer versus yen, slightly firmer elsewhere. Oil down ahead of another expected OPEC and production hike. Gold firmer. Industrial metals higher. Asian equity markets are mixed. Nikkei has been outperforming to hit twelve month high. European markets are firmer. In trade developments, Canada to rescind digital services tax after Trump threatened to pull out of trade talks on Friday. Trump said he doesn't think he'll need to extend tariff 9-Jul deadline, contrasting somewhat with Treasury Secretary Bessent. Somewhat better news on US-China trade talks after both sides confirmed details on framework agreement where China relaxes rare earth exports and US removes countermeasures.
Companies Mentioned: Torrent Pharmaceuticals, JB Chemicals & Pharmaceuticals, KKR, Avadel Pharmaceuticals
US equity futures higher, European markets extended gains, while Asian markets were mixed. White House announced a trade deal with China, though details were sparse, with the US set to remove countermeasures in exchange for rare earths curbs from Beijing. Commerce Secretary Lutnick flagged 10 additional deals ahead of the 9-Jul tariff deadline but said the date remains flexible. EU leaders considering tariff cuts on US imports to fast-track a deal. US to drop Section 899 "revenge tax" after G7 compromise.
Companies Mentioned: MRC Global, DNOW, Comcast, RTL Group, Saab, Embraer
US equity futures are higher. European markets opened firmer, while Asian markets were mixed. Trump may announce a replacement for Fed Chair Powell as early as September. Trade developments remain in focus ahead of the 9-Jul deadline; the Trump administration is reportedly close to deals with Japan, South Korea, and Vietnam, though major sticking points remain, especially over auto and steel tariffs. White House tweaked controls on ethane exports to China, signaling potential easing of restrictions. Powell noted trade deals may allow future rate cuts while all forecasters see significant increase in inflation.
Companies Mentioned: NVIDIA, Microsoft, OpenAI, Paramount Global
S&P futures are flat, unchanged from the prior close. Following broad gains on Tuesday, European equity markets are mostly firmer in rangebound trade. Asian markets continued to advance today, led by gains in Greater China and Japan. The ceasefire between Iran and Israel appears to be holding, with Iran signaling readiness for diplomacy. U.S. airstrikes reportedly caused limited damage to Iran's underground nuclear facilities, delaying its program by a few months but failing to destroy centrifuges or enriched uranium stockpiles.
Companies Mentioned: Glacier Bancorp, Brighthouse Financial
S&P futures are pointing to a strong open today, up +0.7% following the de-escalation signals in the Middle East. European equity markets are surging in early trades with the German DAX up +1.8% and STOXX 600 up +1.2%. Asian markets also closed sharply higher today with notable performances in Greater China and Japan. Israel and Iran have agreed to a ceasefire, confirmed by Israeli Prime Minister Benjamin Netanyahu, marking an end to hostilities after initial confusion over timing. The White House stated the agreement includes a 12-hour ceasefire, after which the war will be considered ended if calm persists.
Companies Mentioned: Meta, First Financial Bancorp, Westfield Bancorp
US equity futures are firmer with S&P up 0.3%, bond yields firmer, US 10-year treasury up 2 bps at 4.4%. Dollar firmer versus yen and Aussie, softer versus euro and sterling. Gold softer despite Middle East tensions. WTI crude adds to recent gains, around 0.5% higher. Industrial metals mixed. Crude oil and dollar index pared gains in Asia Monday after US strikes on Iran while gold defying bullish expectations on the back of haven demand. Risk aversion briefly took Bitcoin below $100K for the first time since May amid broad-based weakness in crypto. Press noted equity price action so far indicating a sanguine outlook. Most Gulf stock markets were steady while Israel TA-125 index was at a record high
Companies Mentioned: Bank of New York Mellon, Northern Trust, Shift4 Payments, SmartPay Holdings
US equity futures slightly softer. European equities opened firmer, while Asian markets were mixed with South Korea and Hong Kong outperforming. Trump to decide within two weeks on potential Iran strike, extending earlier timeline amid reported backchannel talks between US envoy Witkoff and Iran's foreign minister. Japan’s May core inflation came in above expectations, keeping BOJ tightening speculation in play, while China held loan prime rates steady. BoE kept rates steady while SNB and Norges Bank cut rates; ECB bulletin released. Japan’s Akazawa downplayed July 9 as deadline for US trade talks, mirroring tone from EU officials as negotiations drag on.
Companies Mentioned: GMS Inc, Home Depot, QXO, Inc, Paramount Global, Ares Management Corp.
US equity futures slightly higher. European markets opened narrowly mixed, while Asian markets were also mixed. Geopolitical focus dominated as Trump held a National Security Council meeting to discuss potential strikes on Iranian nuclear sites, including the Fordow facility. Reports flagged risks of Iranian retaliation and potential mining of the Strait of Hormuz. Trump reiterated a hard stance, demanding Iran’s unconditional surrender. Trade talks saw little movement. Trump criticized EU and Japan for failing to offer fair deals and reiterated tariff threats, including imminent action on pharmaceuticals.
Companies Mentioned: KKR & Co, Orange, Zegona Communications, Hasbro, Plains All American Pipeline, Keyera
US equity futures are pointing to a lower open today. European markets have opened in the negative territory, following mixed trades in Asian markets. Global markets today are digesting Trump's decision to cut short his G7 attendance to return to Washington after warning on Truth Social for people to evacuate Tehran. BOJ left interest rates unchanged as expected. Ishiba and Trump failed to reach agreement at G7. US and Canada are aiming to strike a trade deal within a month.
Companies mentioned: Verve Therapeutics, Eli Lilly, T-Mobile, Softbank
US equity futures slightly higher. European markets trading weaker and Asian markets ended mixed. Geopolitical risk remains high as Israel and Iran exchanged strikes for a third day. Market concern remains about potential for disruption to crude shipments via Strait of Hormuz. China’s May activity data came in mixed: industrial output and fixed asset investment growth slowed more than expected, while retail sales surprised to the upside amid holiday spending and a trade-in stimulus. G7 summit saw little progress on trade, though bilateral talks between Trump and other leaders continued. Japan and the US discussed a potential deal, while the US and Vietnam neared a framework agreement. Preliminary University of Michigan consumer sentiment rose for the first time in five months, while inflation expectations moderated.
Companies Mentioned: US Steel, Nippon Steel, Coinbase, Gemini, Google, Meta
US equity futures are sharply lower, as risk sentiment deteriorated amid escalating Middle East tensions. Asian markets fell broadly, European equities are also trading lower. Israel launched airstrikes on Iranian nuclear and military targets, prompting fears of regional escalation. President Trump said the US was not involved but convened his cabinet; Israel declared a state of emergency and signaled operations may continue for days. Trump reiterated unilateral tariff threats and raised the prospect of 25% auto tariffs. Trade talks with Japan, India, and the EU remain challenging ahead of the G7 summit. US inflation data showed further cooling; jobless claims steady but continuing claims rose to a multi-year high.
Companies Mentioned: NVIDIA, Thermo Fisher Scientific, CK Hutchison Holdings, COSCO SHIPPING Holdings, Blackrock
US equity futures were weaker. European equities opened lower and Asian equities were mixed with declines in Hong Kong and Taiwan offset by gains in South Korea. US and China reached a framework to implement last month’s Geneva consensus and agreed to dial back select export controls, though the rare earths relief is temporary and skepticism remains about a broader deal ahead of the July tariff deadline. Geopolitical tensions escalated as the US ordered partial embassy evacuations in the Middle East amid reported Iranian threats, contributing to a sharp oil rally Wednesday. Trump reiterated plans to impose unilateral trade deal terms in the next two weeks if no agreements are reached, while hinting at flexibility on the deadline for good-faith negotiators.
Companies Mentioned: Dana Inc, Allison Transmission Holdings, Moderna, CoreWeave, OpenAI, Alphabet, Microsoft
US equity futures are slightly lower after Tuesday’s gains. European markets are firmer in early trade, while Asian markets ended higher with broad gains across Greater China and Korea. US and China reached a framework to implement the Geneva consensus, though execution still requires approval from Presidents Trump and Xi. Commerce Secretary Lutnick suggested rare earth and magnet issues may be resolved through the deal, but any US export control easing depends on reciprocal Chinese moves. US-India and US-Mexico are reportedly close to interim trade deals addressing digital access and tariff relief, according to Reuters and Bloomberg. Eyes turn to Wednesday’s US CPI report, where tariffs are expected to show up in higher core inflation. Elon Musk just now said he regrets his recent comments about President Trump.
Companies Mentioned: Tesla, Lockheed Martin, Starbucks, General Mills
S&P futures slightly pointing down. European equity markets pared early loss. Asian equity markets mostly higher, with Nikkei seeing decent gains. Taiwan a notable outperformer on TSMC gains. China markets underperform. For treasuries, 10-year yields down 4bps to 4.5%. Dollar firmer. Oil up, gold down, industrial metals lower. Cryptocurrencies consolidating overnight gains. For latest update on trade talks, US and China meetings in London to extend through Tuesday after representatives from both sides met for more than six hours. Nothing substantive emerged from first day of talks with US officials describing them as fruitful. President Trump said he has received good reports from meeting though China's not easy to deal with. Export controls were a focus of talks after China and US traded criticisms of each other's curbs on rare earths and technology.
Companies Mentioned: GFL Environmental, EchoStar, Meta Platforms
US equity futures are pointing slightly up. European markets are narrowly mixed, while Asia go broadly higher, with decent gains for Nikkei and Hang Seng. Kospi extended recent post-election outperformance. For treasuries, 10-year yields stay steady at 4.5% after backing up sharply in prior session. Dollar softer, oil down, gold softer, industrial metals mixed. Attention on trade developments with US and China resuming talks in London with export licenses a key topic of discussion. NEC Director Hassett confirmed US is seeking agreement on rare earths from London talks. For its part China has taken issue with US principally over tech export controls and Huawei crackdown, which were attributed in part for Beijing maintaining its rare earths export curbs. Unclear whether the latest talks will lead to resolution of divisions between US and China, leaving fate of tariffs unknown.
Companies Mentioned: Qualcomm Inc, Alphawave IP Group, Quartzsea Acquisition Corp, Meta Platforms
US equity futures are firmer following Thursday’s mixed close. European equities opened flat, while Asian markets ended mixed with modest moves. Trump and Xi agreed to launch a new round of trade talks, though China’s readout urged the US to remove sanctions and show prudence on Taiwan. ECB cut rates by 25 bp for the eighth time, but signaled a likely pause in July. White House aides reportedly scheduled a Friday call as they seek to deescalate the feud between Trump and Musk, with both signaling openness to reconciliation. Focus turning to today’s US May employment report, where NFP is expected to rise 125K and unemployment rate expected to hold steady at 4.2%.
Companies Mentioned: Tesla, Blackrock, Peloton Interactive
US equity futures slightly weaker. European markets opened flat to slightly higher, while most Asian markets ended in positive territory with Kospi outperforming. Markets focused on trade and central bank updates. The ECB is expected to cut rates by 25 bps today amid cooling inflation. Uncertainty remains over the timing of a potential Trump-Xi call, with reports citing reluctance from China’s side. Institutional investors reportedly shifting away from US markets due to debt and trade concerns, with Europe seen as a relative beneficiary. Weaker-than-expected US ADP and ISM Services data added to Fed policy scrutiny ahead of Friday's jobs report. US fiscal concerns also back in focus, with the CBO projecting a $2.42T deficit increase from the reconciliation bill.
Companies Mentioned: NVIDIA, Amazon, Citigroup
US equity futures are little changed. European markets are firmer, while most Asian markets gained. US-China trade tensions remain in focus, with Trump-Xi call reportedly expected Friday, though no confirmation yet. China's restrictions on rare earths getting more attention with press highlighting growing concern among car makers that shortage of magnets could grind auto production to halt within weeks. Moreover, US Steel tariffs come into effect today, but a temporary 25% tariff remains for the UK until its trade deal comes into force. Korea's Lee Jae-myung won the presidential election, pledging economic stimulus and renewed trade talks. Markets also eye ECB’s Thursday meeting following soft Eurozone inflation and await US jobs data to gauge Fed’s rate path.
Companies Mentioned: BioNTech
S&P futures are pointing lower today, down (0.47%). European equity markets are firmer, following slightly weaker levels on Monday. Asian equity markets went mostly higher, with Hang Seng a notable outperformer. Overnight, US 2-year yield down 1 bps to 3.9% and 10-year down 3 bps to 4.4%. Dollar firmer, oil up, gold down, industrial metals lower. Renewed US-China trade tensions has spilled into public view with both sides accusing each other of reneging on Geneva deal. White House talking up prospects of a Trump-Xi call this week but no confirmation yet from China. Critical minerals remain source of tensions with China reportedly slow walking offer to relax rare earths curbs, a response to latest US tech curbs and revocation of Chinese student visas.
Companies Mentioned: Snowflake, Merck, Crunchy Data, MoonLake Immunotherapeutics
S&P futures are pointing lower today, down (0.5%). European equity markets are weaker. Asian markets are lower, with Nikkei, Hang Seng and Taiwan underperforming, mainland China closed for public holiday. Overnight, treasury yields went up, with the two year up 2bps and the ten year up 5bps. The U.S. dollar weaker, oil up, gold gains, industrial metals higher. Trade tensions weighing on risk appetite. US-China relations fraying a month with two sides accusing the other of violating Geneva agreement. Main disagreements revolve around US frustration at China slow walking offer of relaxing rare earths curbs and China taking issue with US at new export restrictions. On geopolitical front, China rebuked US after Defense Secretary Hegseth warned of potentially imminent Taiwan invasion. Renewed tensions come as press sources noted efforts underway to set up a Trump-Xi call in bid to move forward talks.
Companies Mentioned: Qualcomm, Alphawave IP Group, Sanofi, Blueprint Medicines, BASF
US equity futures are slightly lower after Thursday’s positive session. European markets are mostly higher, while Asian equities ended broadly weaker, with Hong Kong and Japan leading declines. US trade policy outlook clouded after Appeals Court stayed ruling that had blocked tariffs under IEEPA, leaving restrictions in place while further legal review proceeds. White House stressed alternative statutes could be used if needed, adding uncertainty to timing and process of trade decisions. US-Asia trade negotiations remain uneven: Bessent said China talks stalled and may require Xi-Trump call, while India highlighted progress and Japan prepares for next round. Tokyo inflation beat expectations, adding to market focus on BOJ tightening after Ueda reaffirmed data-driven approach this week.
Companies Mentioned: Synopsys, Seacoast Banking, Archer-Daniels-Midland
US equity futures are sharply higher after Wednesday's losses, with the S&P 500 up around 1.7%. European equity markets are firmer and Asian markets posted solid gains, particularly in Japan and South Korea. The US Court of International Trade blocked President Trump's reciprocal tariffs, adding uncertainty to ongoing trade negotiations ahead of the 9-Jul tariff deadline. Nvidia posted a $4.5B write-down tied to US export curbs and forecast another $8B impact this quarter, but left revenue guidance only slightly below consensus. The Trump administration is weighing further export restrictions targeting jet engines and semiconductor software. Secretary of State Rubio also flagged aggressive revocation of Chinese student visas. The May FOMC minutes showed officials continue to favor a cautious approach, citing uncertainty and the risk of persistent inflation amid labor market weakness.
Companies Mentioned: Tesla, GE Aerospace, Paramount Global
S&P futures are pointing to a slightly softer open today, down (0.2%). European equity markets are edging higher in early trades. Asia finished a mixed session with Japan and Korea flat or slightly higher, while Hong Kong and Australia traded lower. Bond markets remain in focus as yields initially rose on reports that Japan's finance ministry might reduce super-long bond issuance after last week's market turmoil. However, the latest JGB 40-year auction was softer than expected with a higher-than-expected accepted yield of 3.135%, the highest since 2007.
Companies Mentioned: Motorola, Travelers Cos., Chevron, Shein
S&P futures are pointing to a strong open today, up +1.5%. European equity markets are mostly higher in early trades with the FTSE 100 outperforming. Asian markets closed mostly lower, though Japan and Hong Kong saw modest gains. EU-US trade talks have intensified after President Trump delayed imposing 50% tariffs on EU imports, providing a 30-day window for negotiations. EU Trade Commissioner Maroš Šefčovič engaged with U.S. Commerce Secretary Lutnick and Trade Representative Greer, signaling a shift toward a cooperative tone. The EU may consider concessions, such as increased purchases of U.S. LNG and agricultural products.
Companies Mentioned: Chevron, Trump Media, MAC Copper
S&P futures are pointing up near 1.3%. European equity markets opened with strong gains after Trump extended EU tariff deadline. Asian equities posted a mixed response to the weekend developments. Overnight, treasury yields were flat, with the two year staying at around 4% and 10-year to 4.5%. US dollar weaker, Asia currencies stronger, Crude blends slightly higher, gold lower, base metals mixed. Cryptocurrencies higher with bitcoin back near its peak. Focus in Europe on Trump's tariff delay following von der Leyen call, which largely confirms Trump's tariff plans can be regarded as a negotiation tool. However, White House reportedly rejected EU proposal to completely remove tariffs on industrial goods and increasing opportunities for American agricultural products to reach EU. Potential meeting between Šefcovic and Greer may also be set for early June in Paris
Companies Mentioned: WiseTech Global, E2open, United States Steel, Nippon Steel, Nvidia
S&P futures are pointing to a slightly higher open today, up +0.2%. European equity markets are also broadly firmer in early trades, followed a mixed Asian session with Japan and Hong Kong outperforming. Risk sentiment improved following House's narrow approval of Trump's tax bill, though it now faces weeks of Senate debate. Concerns persist over the bill's impact on the U.S. budget deficit and weak demand for long-term bonds in Japan and the U.S. Investors are also awaiting progress on trade negotiations, with only 45 days left in Trump’s tariff pause.
Companies Mentioned: Apple, Weyerhaeuser, Goodyear Tire & Rubber
US futures are indicating a slightly positive open. European equity markets are mostly firmer, Asian equities mostly finished higher. Markets are on edge as geopolitical tensions rise. Israel is reportedly mulling its response to a missile barrage from Iran earlier this week. Oil prices spiked Thursday after President Biden indicated that the US is discussing support for an Israeli strike on Iranian crude facilities. Iranian oil production hit a six-year high in August, but analysts warn a strike could knock about 1.5 million barrels per day off the market. Brent crude is on track for its biggest weekly gain since early 2023, up around 10% from recent lows.
Companies Mentioned: Barnes Group, Apollo Global Management, Cisco Systems, CoreWeave, Spirit Airlines
US futures are pointing to a lower open today. European equity markets have opened under pressure but are off their lows, following mixed Asian market trades. Global markets still focusing on Middle East tensions as situation remains fluid while markets await Israeli response to Iran's missile barrage. Israel reportedly not looking to spark regional war, and markets do not envisage major hit to oil supply. Yen under pressure as markets process dovish-leaning comments from BOJ officials and new PM Ishiba. ECB officials increasingly backing October rate cut. BOE could get more aggressive on rate cuts if good news on inflation continues.
Companies Mentioned: Apollo Global Management, Vonovia, United Airlines, Ares Management Corp
S&P futures are pointing to a slightly lower open today, down (0.1%), as global markets navigate heightened geopolitical tensions in the Middle East. In Asia, Hang Seng extended recent rallies, while rest of the region closed broadly lower. European equity markets are higher in early trades.
Hang Seng Index surged over +6% today, continuing the rally fueled by recent stimulus. Hang Seng China Enterprises Index +7%, Hang Seng Tech +8.5%, and Hang Seng Mainland Properties Index +14.8%. The extended rally reflects optimism about Chinese assets following Beijing's stimulus package. Goldman Sachs reported record net purchases of Asian stocks by hedge funds in September, primarily in China and Hong Kong.
Companies Mentioned: KKR, Infinera, Summit Midstream, Apple
US equity futures are indicating a slightly weaker open today. European equity markets are trading mostly higher, and Asian markets finished mixed. Market attention today is on Eurozone inflation data, a key input ahead of the next ECB meeting later this month. Recent national inflation readings have surprised on the downside, and with weak PMI data, bets on an October ECB rate cut have risen to around 80%. Meanwhile, in the US, Fed Chair Jerome Powell said the FOMC is not in a rush to cut rates but emphasized that future decisions will be guided by incoming data. Overseas, the BOJ's September Summary reaffirmed its gradual path to policy normalization, though some members cited uncertainties supporting no immediate changes.
Companies Mentioned: Amazon, Google, Meta, PepsiCo
S&P futures are pointing to a flat open today, down (0.02%). In Asia, Greater China markets recorded historical gains, with the Shanghai Composite up +8%, while Japan's Nikkei 225 plummeted close to (5%) . European equity markets are broadly lower in early trades.
Chinese stocks have rallied for nine consecutive days as the CSI 300 surged +8.5%, its largest jump since 2008. Having lost over (45%) from its 2021 peak, the index has rebounded over +20%. Despite the rally, the MSCI China forward P/E remains at 10.8x. UBS has increased its target for MSCI China to $70. Morgan Stanley predicts an additional +10% upside for the CSI 300. HSBC notes that new measures from China's central bank may boost corporate buybacks.
Companies Mentioned: TPG, Boeing, OpenAI, Devon Energy
US futures are pointing to a flat open. European equity markets are slightly higher and Asian equities mostly finished higher, led by sharp gains in Greater China and Japan’s Nikkei. Risk appetite continues to lean positive, boosted by optimism around the technology sector and AI growth prospects. Market sentiment is also supported by encouraging US macroeconomic data and additional stimulus measures from China. The soft-landing narrative has gained traction, lowering expectations of a large Fed rate cut. In Europe, weaker economic data has increased the likelihood of a rate cut by the ECB in October, and the Bank of England may also ease policy by November. Meanwhile, the ongoing oil price selloff is attracting attention, with reports suggesting that Saudi Arabia may back away from its unofficial $100 price target.
Companies Mentioned: Intel, Arm, Amazon, EchoStar, AT&T, TPG
US futures are pointing to a higher open today on positive sentiment from after-hours rally in Micron. European equity markets have opened in the positive territory, following mostly positive Asian market trades. China set to issue one-off cash handouts to people in poverty to boost holiday spending, while reportedly considering CNY1T capital injection into state banks. RBA Financial Stability Review has no surprises. South Korean policy officials debate over measures. SNB cut rates by 25bps.
Companies Mentioned: Automatic Data Processing, Aramark, Johnson & Johnson
S&P futures are pointing to a lower open today, down (0.14%). Asian equities closed mixed for the day, while European equity markets are broadly lower in early trades. Chinese equities were slow to advance further following Tuesday's rally. The initial impact of China's stimulus measures is also diminishing in European markets, though the sentiment remains largely positive in the APAC region. Strategists note potential upside for market PE ratios, with sectors like high-dividend stocks, internet platforms, financials, and property developers expected to benefit. Economists are optimistic about the PBOC's easing measures but emphasize the need for additional fiscal support to stimulate private consumption.
Companies Mentioned: KKR, Lifeway Foods, SAP
S&P futures are indicating a higher open today, up +0.22%. Following China's policy easing announcements, Asian equities closed mostly higher, with Shanghai Composite and Hang Seng recording substantial gains. European equity markets are also higher in early trades.
In today's highlight, PBOC announced measures to stimulate China's economy, including a 50 bps cut to the RRR to release CNY1T in liquidity, with potential further cuts by year-end. The 7-day reverse repo rate will decrease by 20 bps to 1.5%, and interest rates on existing mortgages will be reduced, alongside a nationwide reduction in the down payment ratio for second homes to 15%. China will also allow funds and brokers to use central bank funding for stock purchases and establish special refinancing options for share buybacks.
Companies Mentioned: Chevron, Liberty Broadband, Visa, Brookfield Asset Management
US futures are indicating a softer open. European equity markets are mixed and Asian markets were mostly higher. Markets are still reacting to last week’s Federal Reserve rate cut, with futures indicating a 50% chance of another cut in November. In China, the PBOC reduced its 14-day reverse repo rate by 10 basis points ahead of the upcoming Golden Week holiday. This move follows weak macro data for August and comes as CNY1.5 trillion in funds are set to mature this week. In Japan, takeaways from the recent BOJ meeting, and Governor Ueda’s press conference, leaned dovish, signaling a potential delay in rate hikes to December.
Companies Mentioned: Intel, Tesla, BMW, Volkswagen, Vail Resorts
US futures are indicating a softer open today. European markets are lower, following Thursday's gains. Asian markets finished mixed. The focus today is on the BoJ decision, where no changes to policy were made, as widely expected. The policy statement was notably brief, with no forward guidance, leaving market participants evaluating the broader impact of the Fed's outsized rate cut. The BoE is tipped to cut rates again in November after leaving policy unchanged on Thursday. In US, optimism around a potential soft landing continues to drive rotation into big tech and cyclical stocks, while defensives are being sold off. There is growing anticipation around the Fed’s next steps, particularly how these cuts might impact inflation and economic growth in the coming quarters.
Companies Mentioned: Battalion Oil
US futures are pointing to a higher open today. European equity markets have opened in the positive territory, following higher levels in Asian markets. Fed's 50bp rate cut reverberating. Powell cautioned against presumption that outsized rate cuts will continue. But markets continue to price in more dovish rate path than implied by dot plot, expecting 70 basis points of additional cuts by end-2024. BOJ, Norges Bank, BOE expected to leave policy unchanged in coming days.
Companies Mentioned: Vistra, Bel Fuse, Palantir Technologies
US futures are indicating a flat open today. European equity markets are trading slightly lower, while Asian markets finished mixed. In top stories, the debate over the Fed’s upcoming rate decision remains front and center. The market is pricing in a 63% chance of a 50-basis point rate cut at today's FOMC meeting, though economists are leaning toward a 25-basis point reduction. The updated Summary of Economic Projections will be closely watched, with forecasts suggesting 75 basis points of cuts in 2024. However, market pricing implies as much as 110 basis points in cuts by year-end.
Companies Mentioned: Google, BlackRock, Microsoft, Brookfield Asset Management, NVIDIA, Nippon Steel, United States Steel
US futures are indicating a higher open today, up +0.2% as market awaits the upcoming macro events. Asian equities traded mixed in another quiet session, and European equities are broadly firmer in early trades. Anticipation builds for the FOMC meeting on Wednesday and the BOJ meeting on Friday. Futures increasingly suggest a 50 basis point Fed rate cut, but the focus may shift to expected rate cuts in 2024 and 2025, totaling an anticipated 250 basis points by the end of 2025. The BOJ is expected to maintain current policy, but market attention will be on Governor Ueda's communication to guide expectations for future rate hikes without inciting the volatility seen after the 31-Jul meeting.
Companies Mentioned: Intel, AMD, Sony
US futures are indicating a flat open. European equity markets are trading lower, following a mixed session in Asia where equities finished with minor gains and losses. Market attention is focused on central bank decisions this week, with the Fed, BoE, BoJ, and PBoC all on the agenda. A majority of economists anticipate a 25 basis points Fed rate cut, though markets are positioning for a potential 50 basis points cut at Wednesday’s FOMC meeting. Yen strength is the main story in FX markets. Another round of soft Chinese economic data has increased concerns over the country’s ability to meet its 2024 growth target.
Companies Mentioned: Blackstone, Walt Disney, Amazon, Samsung, Xiaomi
US futures are pointing to a slightly higher open today. European equity markets have opened in the positive territory, following mixed Asian market trades. Market attention is shifting back to Fed policy after ECB's 25-bp cut. It's expected to be close call between move of 25bp and 50bp. BOE expected to keep policy unchanged next week with next cut more likely in November. A BOJ rate hike in December is anticipated though some also see October hike at earliest.
Companies Mentioned: Blackstone, DigitalBridge, Liberty Global
US futures are pointing to a firmer open today. European equity markets are trading up, and Asian markets finished broadly higher, driven by a tech rally in Japan, Korea, Taiwan, and Hong Kong. Top stories today include bullish sentiment in the tech and AI sectors, buoyed by remarks from NVIDIA CEO Jensen Huang on demand for AI chips. In macro news, US core inflation came in slightly hotter than expected, prompting markets to scale back expectations of a 50 basis point rate cut by the Fed next week. However, the broader disinflation narrative remains intact, with the Federal Reserve now more focused on growth risks and the labor market.
Companies Mentioned: Google, OpenAI, Microsoft, Nippon Steel, US Steel
S&P futures are indicating a lower open today, down (0.27%). Asian equities were mostly lower this Wednesday, while European equities are exhibiting strength in early trades. Market attention is turning to tonight's US August CPI, expected to show annualized core holding at 3.2% y/y. In the recent presidential debate, Trump and Harris engaged in discussions on various issues without major revelations, largely reiterating their usual talking points and criticisms. Election betting markets favored Harris during the debate, and a CNN poll showed 63% of viewers believed she won. Trump criticized the Biden administration's immigration and economic policies, while Harris focused on Trump's stance on abortion rights. The race remains tight nationally and in battleground states. Both campaigns expressed readiness for a second debate.
Companies Mentioned: Rightmove, TPG, Elevance Health, Goldman Sachs
US futures are pointing to a lower open today. European equity markets are trading higher, while most Asia markets finished mixed, though gains were modest amid choppy trading. Market sentiment has improved, with recent US jobs data seen as not weak enough to undermine the narrative of a soft landing for the economy. However, the ongoing AI momentum has come under increased scrutiny, although the broader secular growth theme remains largely intact. In Japan, yen strength has weighed on equities, but the reduced likelihood of aggressive Fed rate cuts is helping to limit market volatility.
Companies Mentioned: KKR, Carlyle, Mizuho, CVC, Laboratorios Farmaceuticos Rovi
S&P futures are indicating a higher open today, up +0.61%. Asian equities were under pressure, with Hong Kong recording the greatest losses in the region. European equities are broadly firmer in early trades. In today's highlight, China's August consumer inflation rose by 0.6% y/y, slightly below the expected 0.7%. Food prices, particularly fresh vegetables and pork, significantly contributed to the rise. Notable declines were in airfares and hotel prices. YTD inflation remains at 0.2%, below the government's 3% target. Core inflation fell to 0.3%, its lowest in nearly 3.5 years. PPI declined by 1.8% y/y, marking the steepest drop since April and the 23rd consecutive month of deflation, due to weak demand and falling global commodity prices.
Companies Mentioned: Vista Outdoor, Alphabet, Arm Holdings, News Corp, Tesla
US futures are pointing to a lower open today with Broadcom dragging down Nasdaq afterhours on earnings. European equity markets have opened lower, following mixed Asian market trades. US nonfarm payrolls expected to show step-up in headline jobs growth and downtick in unemployment rate. Today's print takes on added importance in shaping hard vs soft-landing debate, as well as determining whether Fed is expected to cut by 25 or 50 basis points this month.
Companies Mentioned: Salesforce, Apple, Tencent, Mobileye, Qualcomm
US futures are pointing to a flat open today. European equity markets are trading mixed, while Asian equities showed a similarly mixed performance. Market attention today remains on the aftermath of Tuesday’s major selloff, which lacked a clear catalyst but was attributed to several factors including softer macro data, systematic unwinds, and yen strength. Growth concerns are increasing, particularly following weaker-than-expected JOLTS job openings data and cautious takeaways from the Fed’s Beige Book.
Companies Mentioned: Nvidia, Nippon Steel, US Steel, Sandy Spring Bancorp
S&P futures are pointing to a lower open today, down (0.37%). Asian equities closed broadly lower today, with Nikkei down (4.24%). European markets are also weaker in early trades. In today's highlight, Asia's semiconductor sector tumbled today following Nasdaq's sharp declines on Tuesday. Major semiconductor companies in Japan, Taiwan, and Korea faced their worst single-day fall since the Aug-5 meltdown. The sell-off is attributed to high valuations and concerns regarding AI capital expenditure and return on investment. Media reports indicate that NVIDIA and several other companies have received subpoenas from the DOJ concerning potential antitrust violations.
Companies Mentioned: NVIDIA, Apple, Fuji Soft
S&P futures are basically unchanged, suggesting a flat open today. Asian equities traded mixed in a quiet Tuesday session., while European markets are broadly higher in early trades. In today's highlight, South Korea's inflation fell to its lowest since March 2021, widening the scope for a rate cut in the coming months. Inflation rate eased to the Bank of Korea's target with the headline CPI increasing by 2% y/y in August, slightly below the expected 2.1% and down from 2.6% in July. With inflation now at the BOK's target, four out of seven board members are considering a potential interest rate cut by year-end, and some economists anticipate a move as soon as October.
Companies Mentioned: Blackstone, Tesla, Morgan Stanley, Fuji Soft
US futures are indicating a positive open today. European equity markets are mostly higher, following the mostly advancing Asian markets with China markets outperforming. Market attention today is centered on the upcoming PCE index release, which is expected to show core PCE inflation trending downward, potentially falling below the Fed's 2% target on a three-month annualized basis. Next week’s August nonfarm payrolls report is also anticipated to be a critical factor in shaping monetary policy decisions for the remainder of the year.
Companies Mentioned: Intel, Nvidia, OpenAI, Tencent, NetEase
US futures are pointing to a slightly lower open today. European equity markets have opened flat, following mixed Asian market trades. In US, attention is on chip sector with Nvidia down almost 9% afterhours. Eurozone market is now pricing in September cut and 60 basis points worth of easing for Q4. China's growth concerns in focus with UBS forecast downgrade.
Companies Mentioned: Nvidia, Apple, Big Lots, Agriculture & Natural Solutions Acquisition
S&P futures are indicating a flat open today, up +0.02% as the market awaits for NVIDIA's earnings. Asian markets finished Wednesday trading mostly lower, while European markets are broadly firmer in early trades. For today's highlight, in a recent speech, BOJ Deputy Governor Himino emphasized the need for vigilant market monitoring due to ongoing instability, aligning with Governor Ueda's earlier statements. He reaffirmed that the BOJ will consider market impacts and the July rate hike before adjusting monetary policy, contingent on confidence in their outlook.
Companies Mentioned: NVIDIA, Anglo American
S&P futures are indicating a higher open today, up +0.11%. Asian markets finished Tuesday trading mixed, while European markets are broadly firmer in early trades. For today's highlight, Chinese e-commerce firms are facing significant challenges due to a weak economy and intense competition. PDD Holdings warned of slowing revenue growth, causing its stock to drop (29%), the largest single-day loss since its IPO, erasing nearly $55B in market value. This impacted Alibaba and JD.com, which both fell (4%). Analysts see PDD's struggles as indicative of broader headwinds in China's e-commerce sector, as companies compete in a saturated market.
Companies Mentioned: Paramount Global, Disney, Zip Co, Apple
S&P futures are indicating a higher open today, up +0.13%. Asian markets finished Monday trading mixed, and European equity markets are also mixed in early trades. For today's highlight, the PBOC left the MLF rate unchanged while draining a net CNY101B after a delayed operation. The yuan's midpoint fixing is the strongest since mid-June, with policymakers focusing on preventing sharp appreciation. Economists have lowered their 2024 forecasts for China's inflation, investment, and consumption due to weak domestic demand, despite expected rate cuts. Retail sales growth is projected at 4%, the lowest outside the pandemic, and fixed asset investment is down to 4.2%. The CPI forecast is reduced to 0.5%.
Companies Mentioned: Intel, Visa, Carlyle, Blackstone, Paramount Global, Coupang
US futures are indicating a higher open today. European equity markets have opened strong, following the mostly advancing Asian markets. Market attention is focused on Fed Chair Powell's upcoming testimony at the Jackson Hole Symposium. Expectations are that Powell will set the stage for easing while reiterating the Fed's data-dependent approach, though he is likely to avoid any explicit signaling. The ongoing debate centers on whether the Fed will opt for a 25 or 50 basis point cut next month.
Companies Mentioned: Paramount Global
S&P futures are indicating a flat open today. Asian markets finished Thursday trading mixed, and European equity markets are extending recent rallies in early trades. For today's highlight, The July FOMC minutes highlighted increased employment risks and indicated that a majority of participants consider a September rate-cut likely appropriate. The minutes reaffirmed that inflation is moving toward the 2% target, though it remains somewhat elevated. While some officials supported a 25 basis point cut in July, the consensus leaned towards a September adjustment. Following BLS payroll revisions, markets increased odds of a 50 basis point hike in September.
Companies Mentioned: Paramount Global, Telefonica, Halliburton
S&P futures are pointing to a flat open today ahead of the annual payrolls benchmark revision and the July FOMC minutes. Asian markets finished Wednesday trading broadly lower, and European equity markets are higher in early trades. For today's highlight, China tech shares declined as the Hang Seng Tech index fell (1.9%). JD.com saw a (9%) drop after reports that Walmart sold its stake in the company, raising $3.6B at an 11% discount. Analysts suggest the sale affects sentiment across the tech sector, with local investment insufficient for a substantial recovery. Kuaishou Technology fell nearly (10%) due to disappointing ad revenue, while Vipshop Holdings dropped (18%) on falling sales and a weak outlook. Alibaba and Tencent's recent results did not ease concerns over the consumer environment.
Companies Mentioned: JD.com, Walmart, Hyatt Hotels, Arch Resources
US futures are indicating a higher open today. European equity markets have opened strong, following advancing Asian markets. More Fed officials signaling openness to near-term easing with Powell expected to reinforce expectations of September cut. Market also weighing prospects for rate path beyond next month as hard-landing fears ebb. Economists now expect three 25bp rate cuts at three final meetings of 2024.
Companies Mentioned: Apple, Boeing, Airbus, GE Licensing, Dolby Laboratories
US futures are indicating a flat open today. European equity markets are trading lower, following their best weekly performance in three months. In contrast, Asian equity markets were mostly higher, although the Nikkei was notably down. Market attention this week is squarely on the Jackson Hole Symposium, with a significant focus on Fed Chair Powell's upcoming speech on Friday regarding the economic outlook. There is considerable anticipation over whether Powell will reinforce expectations for a 25 basis point rate cut in September, especially after several Fed officials last week signaled support for near-term easing. In Europe, Germany has announced it will reject new aid requests from Ukraine due to budget cuts. Data indicates UK property buyers return, commercial real estate shows recovery, and job vacancies rise for the first time this year, reflecting a pick-up in economic activity.
Companies Mentioned: Hyatt Hotels
US futures are indicating a higher open today. European equity markets have opened strong, following advancing Asian markets. Markets in risk-on mode following better-than-expected US retail sales data, allaying concerns about US consumer health and putting more traction behind soft-landing narrative. Markets now ready for a 25 basis point rate cut next month.
Companies Mentioned: PropertyGuru Group, EQT Private Capital, Portillo's, Autodesk
US futures are indicating a slightly positive open today. European equity markets are trading firmer, while Asian markets have finished mostly higher. Market attention is focused on the softer-than-expected US CPI data, which has reinforced expectations for a potential September Fed rate cut. Core inflation is down to its lowest annualized level since early 2021. Eyes are now on today’s July retail sales and Walmart earnings for further indications on the health of the US consumer and the potential implications for the ongoing soft- vs. hard-landing debate. In Europe, Bank of England rate cut expectations have risen due to softer-than-expected inflation. Later today, the Norges Bank is expected to announce its policy decision, with markets anticipating the rate will remain at 4.5%.
Companies Mentioned: T-Mobile US, Arm Holdings, INTC, NVIDIA, XPO Inc.
S&P futures are pointing to a flat open today ahead of the July CPI data. Asian markets finished Wednesday trading mix, and European equity markets continue to climb in early trades. In today's macro news, Japan Prime Minister Fumio Kishida has announced that he will not run in the upcoming LDP presidential election, effectively stepping down as PM once a new leader is chosen. Kishida's withdrawal introduces market uncertainty, with no clear successor favored by markets. While most contenders support monetary policy normalization, the implications for fiscal policy and investor participation initiatives, such as the NISA program, remain uncertain. Analysts expect equities to be most affected, with yen direction influenced by external factors and JGBs by supply-demand conditions.
Companies Mentioned: Honeywell, Allstate, Alphabet, Kellanova, Southwest Airlines
S&P futures are indicating a higher open today, up +0.45% following mixed trading in Asian markets. European equity markets are edging higher in early trades. In today's macro news, China is intensifying its crackdown on a bond market surge, instructing rural banks in Jiangxi not to settle recent China Government Bond purchases. At least four Chinese brokerages have reduced CGB trading. The benchmark 10-year yield rose to about 2.25% from an all-time low of 2.12% earlier in August. Meanwhile, stock trading volumes in Mainland China hit four-year lows, with pessimism potentially near trough levels. Trading volume in Hong Kong also fell to its lowest since February, following recent optimism over a potential rotation from Japanese to Chinese stocks due to attractive valuations.
Companies Mentioned: General Motors, Albemarle, Apple
US futures are indicating a flat open today. European equity markets are trading little higher, continuing their recent rally, while Asian markets finished mixed on Monday. Market attention is focused on key data releases this week, including US CPI and retail sales figures, which could influence the Federal Reserve's monetary policy. The soft-landing narrative has gained traction, particularly following a strong market reaction to soft payroll data. Geopolitically, the US is sending additional forces to the Middle East in anticipation of a possible Iranian attack on Israel. In Europe, Moscow has reported that Ukrainian troops have advanced 30 kilometers inside Russia, as the offensive in the Kursk region entered its sixth day.
Companies Mentioned: Partners Group Holding, TPG, Inc.
US futures are indicating a higher open today, European equity markets are trading up, following a broadly higher session in Asia. Market sentiment improved after lower-than-expected US jobless claims alleviated fears of a hard landing, which had fueled recent market sell-offs. This has led to some dip buying, especially as valuations have pulled back. However, there are ongoing concerns about a potential US recession, weakening consumer health, and the continued unwinding of yen carry trades. Additionally, the rapid growth in AI-related capital expenditures and potential seasonal market weakness remain areas of focus.
Companies Mentioned: Walt Disney, Iteris
US futures are indicating a flat open today. European equity markets are trading lower, following mixed performances in Asian markets on Thursday. Uncertainty remains high in the markets. Sentiment has been somewhat dampened by Wednesday's poor US 10-year Treasury auction, which still lingers as a concern over potential mishandling of the US economy. A key focus today will be on the US weekly jobless claims report, especially after last week's slower employment growth.
Companies Mentioned: Google, Meta Platforms, Blue Owl Capital Corp, Blue Owl Capital Corp III
S&P futures are indicating a higher open today, up +0.55% following Asian markets extended their recent rebounds today. Optimism is being fueled by dovish remarks from the Bank of Japan's Deputy Governor Uchida, which have eased fears of another imminent rate hike amid financial instability. In today’s highlights, the yen continues its retracement, erasing this week's gains against the dollar following BOJ Deputy Governor Uchida's speech downplaying further rate hikes. Uchida emphasized the need to maintain monetary easing, citing volatile financial and capital markets. Uchida stated the Bank won't raise rates amid market instability and suggested recent US data reactions are exaggerated.
Companies mentioned: Illinois Tool Works, WPP Group, Cathay Pacific Airways
After Monday's significant drops in both Asian and U.S. markets, S&P futures are indicating a higher open today, up +0.9% following Asian markets' strong rebounds today. Japan's Nikkei surged over +10% in its largest single-day rise, and Topix climbed 9.3%. The top story today is the better-than-expected US ISM services data, which appears to have eased concerns over a hard landing fueled by last week's soft ISM manufacturing and US payrolls data. This has led to a risk-on session attributed to oversold conditions. While growth risks have increased, economists do not see recession as the base case. Analysts suggested the equity market meltdown was more due to a wind-down of carry trades than a change in the US economic outlook. However, the respite might be temporary as the VIX index remains elevated, signaling potential volatility ahead.
Companies Mentioned: Warner Bros. Discovery, Vornado Realty Trust
US futures are indicating a sharply lower open today. European equity markets are also trading significantly lower, following deep losses in Asian markets. Market sentiment remains highly negative following last week's trade, as concerns about global growth intensified after soft US payrolls data and a rate hike from the BoJ triggered yen-driven volatility. Technology stocks are particularly under pressure due to negative AI-related takeaways from recent US earnings. Additionally, Middle East tensions, US election uncertainty, and negative seasonality are adding to the overall market gloom. In Asia, Japan's TOPIX index triggered a circuit breaker after a steep drop, down around 20% from its peak.
Companies Mentioned: NVIDIA, Alphabet, Carlyle Group, Quantum Capital Group
US futures are indicating a lower open today. European equity markets have opened in the negative territory, following sharply lower levels in Asian markets. Markets fully pricing in three Fed rate cuts in 2024. Japan equities experienced biggest one-day drop since 2016. Economists now weighing the timing of next BOJ rate hike, with majority anticipating another 25bp hike by end-2024 and plurality eyeing December move.
Companies Mentioned: NVIDIA, Tradeweb Markets, CooperCompanies, Occidental Petroleum
Fed held the benchmark rate in a unanimous decision with policy statement mostly unchanged, while Powell said September rate cut could be on table. BOE policy decision later to be finely balanced. Positive US earnings takeaways seem to have renewed enthusiasm towards AI.
Companies Mentioned: Amazon, Reddit, Southern California Bancorp (San Diego), California Bancorp
S&P futures are indicating a higher open today, up +0.87% following mixed results from Mag 7 earnings. Asian equities closed broadly higher today, and European equity markets are firmer in early trades.
The Bank of Japan has increased its uncollateralized overnight call rate to 0.25% from the previous range of 0~0.1% by a 7-2 vote, defying market expectations for no change. The BOJ also unanimously agreed to reduce monthly JGB purchases to ¥3T ($19.6B) in 1Q26, with further quarterly reductions of ¥400B. The adjustments aim to achieve the 2% inflation target while maintaining accommodative financial conditions, as real rates are expected to remain significantly negative. The July Outlook Report revised the FY24 core CPI forecast down to 2.5% from 2.8%, upgraded FY25 to 2.1% from 1.9%, and kept FY26 unchanged at 1.9%.
Companies Mentioned: Microsoft, AMD, Intel
S&P futures are indicating a higher open today, up +0.2% following weak sessions in Asia. European equity markets are broadly firmer in early trades. Markets are in a mostly risk-off session as they await key catalysts from this week, including Wednesday's Fed and BOJ meetings, Thursday's BoE policy decision, and high-profile data such as Eurozone inflation, China PMIs, and US nonfarm payrolls. Additionally, of the Magnificent 7, Microsoft, Meta, Apple, and Amazon are set to report earnings this week. Recent tech underperformance has been driven by rotational flows amid concerns over stretched valuations, positioning, and increased scrutiny on AI.
Companies Mentioned: Renasant Corporation, First Bancshares, Warner Bros. Discovery, PDD Holdings
US futures are indicating a higher open today. European equity markets are mostly higher, following Asian markets finished mostly higher. Sentiment is positive at the start of the week as market participants anticipate dovish policy updates from the Fed and BoE. The Fed is expected to keep rates on hold, but markets are more interested in whether officials will give a firmer indication that a September rate cut is coming. Market participants are evenly split on Thursday's BoE decision. The yen is extending its biggest weekly advance against the dollar since the late April intervention. China's industrial profit growth rebounded in June, attributed to a surge in output and easing of factory-gate deflation pressures.
Companies Mentioned: Apple, Boeing, Abbott Labs
US futures are indicating a higher open. European equity markets are trading mixed, following Asian markets finished mixed on Friday. Market attention today is on the advance reading for Q2 GDP, which showed the economy growing at 2.8% q/q, well ahead of the consensus 1.9%. It indicates a healthy consumer and inflation moving in the right direction, which may prompt Fed Chair Powell to take a slightly more hawkish stance. Yen volatility continues, hitting its highest level against the dollar since early May, driven by a hawkish repricing of BOJ rates and a pickup in Fed easing expectations. BoE rate cut pricing is now more than 50% for August and fully priced for two moves of 25 bps by year-end.
Companies Mentioned: JPMorgan Chase, Johnson & Johnson, GE Vernova
US futures are pointing to a lower open today. European equity markets have opened in the negative territory, following weaker levels in Asian markets. Nasdaq experienced largest one-day drop since December 2022. Sell-off is attributed to disappointing tech earnings takeaways. Yen continues to strengthen ahead of next week's BOJ meeting, rallying to its highest against US dollar since early May. Pick-up in Fed rate cut expectations also comes as the BOJ nears decision to hike again.
Companies Mentioned: Disney, Amazon, Comcast, Warner Bros. Discovery, Edwards Lifesciences
S&P futures are indicating a lower open today, down (0.7%) following weak sessions in Asia. The top stories driving the global market today are the recent U.S. tech earnings, with Tesla and Alphabet both posting mixed results, weighing on investor sentiment. Tesla shares are down (8%) after hours following a bottom-line miss. The company's operating margin was weighed down by price cuts amid weaker EV demand and AI-driven rise in expenses. Elon Musk also confirmed the delay of the Robotaxi event to 10-Oct. Alphabet shares fell (2%) after hours despite Q2 revenue topping forecasts. AI-related demand underpinned Cloud revenue, though capex came in a bit higher than expected.
Companies Mentioned: Alphabet, Tesla, FTAC Emerald Acquisition
S&P futures are indicating a lower open today, down (0.37%) following mixed trading in the Asian markets. European equity markets are softer in early trades. US politics continues to dominate press coverage, as Democrats rally around Vice President Kamala Harris for the 2024 presidential election. Momentum behind her candidacy had been building since President Biden dropped out of race, with Harris nabbing support of several Democrats, including former House Speaker Pelosi. Though Harris has secured enough delegates to clinch nomination, Trump is still favored to win. Political analysts have noted she still faces an uphill battle in general election against Trump and has trailed Trump in nearly every national and battleground state poll this year. Trump's front-runner status leaves the market's focus on his economic and trade policies.
Companies Mentioned: United Parcel Service, Alphabet, Wiz, Warner Bros. Discovery, Amazon, Archrock
US futures are indicating a higher open today. European equity markets are trading higher, following mostly lower finishes in Asian markets on Monday. Market attention today is focused on the recent withdrawal of President Biden from the presidential race, endorsing Vice President Harris as the Democratic nominee. This development has raised questions about the potential impact on the election trajectory, with Trump still favored to win. China unexpectedly cut the 1-year and 5-year loan prime rates by 10 basis points and the 7-day reverse repo rate by 10 basis points, the first reduction since August. Discussions continue on Bank of England rate cut expectations for August amid mixed UK data last week.
Companies Mentioned: Tellurian, Woodside Energy Group, NVIDIA
US futures are indicating a lower open, European equity markets are trading lower, following Asian markets are also trading lower on Friday. Market attention today is that Donald Trump has formally accepted the presidential nomination. He insisted his policies will lower inflation, interest rates, and national debt. He reiterated promises to lower energy costs by drilling for more oil, make permanent the 2017 tax cuts, end the EV mandate, gut funding for green projects, and protect social security and Medicare. There is renewed speculation that Biden will soon exit the race. Numerous PC users worldwide, including airlines and the London Stock Exchange, have been affected due to Windows crashes this morning.
Companies Mentioned: Microsoft, R1 RCM, Surgery Partners
US futures are indicating a higher open today. European equity markets have opened mixed in choppy trades, following mixed to lower levels in Asian markets. Japanese yen volatility still in focus. US-Japan yield gap narrowed recently as markets dial up Fed rate cut expectations and BOJ nears decision on July rate hike. Trump's criticism of weak yen also a factor putting momentum behind yen. ECB widely expected to leave key policy settings on hold today.
Companies Mentioned: Warner Bros. Discovery, Ducommun, Hyatt Hotels
S&P futures are indicating a lower open today, down (0.64%) after mixed sessions in Asia. European equity markets are also softer, following lower finishes on Tuesday. The top macro stories driving the global market today are mixed macro data from Asia and Europe, alongside renewed geopolitical tensions following former President Trump’s comments on Taiwan. UK inflation remained at the BoE's target as June CPI came ahead of estimates at +2%, though services prices are still elevated. The BoE's August rate cut expectations dipped to 25% from 50% prior to the update. New Zealand’s Q2 inflation came in below forecasts, softening to +0.4% q/q. Former President Donald Trump’s comments on Taiwan defense costs have sparked geopolitical concerns, raising questions about potential changes to U.S. policy should he return to office.
Companies Mentioned: Gitlab, Primerica, Eni, KKR, Blackstone
S&P futures are indicating a higher open, up +0.2%, as markets continue to process the political implications of the recent assassination attempt on former President Donald Trump. Market's attention today is on the takeaways from China’s Q2 GDP and June activity data, which highlight persistent weakness in domestic demand and the property market. The weaker-than-expected GDP has renewed doubts about the achievability of the government's annual GDP target of ~5%, leading to calls for stronger policy support.
Companies Mentioned: KKR, Verizon, Match Group, Microsoft, Alphabet, Lineage Logistics
US futures are indicating a higher open today. European equity markets are trading lower, following mixed finishes in Asian markets on Monday. Market attention is on the fallout from the assassination attempt on former president Donald Trump over the weekend. This incident has sparked significant discussion about its potential impact on the upcoming election, with the odds predicting a higher probability of Trump’s winning. This is expected to bolster the 'Trump trade,' potentially leading to a steeper yield curve and a stronger dollar.
Companies Mentioned: Alphabet, Goldman Sachs, Boeing
US futures are indicating a flat open today. European equity markets are trading higher, following Asian markets finished mixed on Friday. Cooler-than-expected US CPI data added momentum to the disinflation trajectory. This firmed market expectations of a September rate cut, with some even pricing in a third cut by year-end. Media continues to focus on whether US President Biden will remain 2024 presidential race.
Companies Mentioned: FMC Corp, SoftBank Group, Boeing
US futures are indicating a marginally lower open today. European equity markets have opened in the positive territory, following advanced levels in Asian markets. For US CPI data, economists expect an in-line print to give Fed more confidence for September rate cut. UK interest rate market turning more hawkish on prospect of August BoE rate cut.
Companies Mentioned: HubSpot, Apple, Alphabet, BHP, TSMC
S&P futures are indicating a higher open, +0.08% as the market awaits for tomorrow's CPI data. Sentiments are improving, after Fed Chair Powell's remarks kept the possibility of a September rate cut in play. The primary macro story today is China's June CPI inflation, which unexpectedly softened amid weak domestic demand. China's CPI inflation rose by +0.2% y/y in June, below the consensus of +0.4%, driven mainly by falling food prices, especially fresh fruits and vegetables. Core inflation remained steady at +0.6%. The PPI fell by (0.8%) y/y, in line with expectations, showing easing declines in upstream prices.
Companies mentioned: RTX Corp, Eversource Energy, MarineMax, OpenAI, Microsoft
S&P futures are indicating a higher open, up +0.23% following broad rallies in Asia. European equity markets are lower in early trade, following broadly firmer levels on Monday. The primary macro story driving the global market is the ongoing hearings by the Bank of Japan regarding bond market adjustments, which kicked off today. Market feedback from these sessions will be critical in gauging a realistic pace for JGB purchase reductions.
Companies mentioned: TSMC, Dominion Energy, Paramount, ReNew Energy Global
The market is currently looking at a flat open today. European equity markets are mostly higher, following weaker trading in Asian markets. The attention is on the French election results, with a surprise win for the left-wing alliance, though no single group secured a working majority. Negotiations to form a coalition government are expected to be difficult. A gridlock scenario is seen as more market-friendly, though it might also lead to further fiscal slippage as parties make difficult tradeoffs to form a government. The new UK Chancellor Reeves will set out planning reforms today to support its aim of investing for growth. Other measures are also anticipated in the coming days to support investment and encourage institutional investors to take a leading role in supporting growth.
Companies Mentioned: Paramount, Grifols, Brookfield Asset Management, Boeing
US futures are pointing to a slightly higher open today. European equity markets are trading higher, following mixed trading in Asian markets. The UK election is dominating headlines today. Labour's sweeping victory is seen as a turning point in British politics, although FTSE futures and sterling remain little changed as markets had largely priced-in this outcome. Attention is also focused on the second round of the French election on Sunday, with Marine Le Pen's National Rally aiming for an absolute parliamentary majority. In the US, President Biden's candidacy remains uncertain amid growing calls for him to bow out, with betting markets favouring Vice President Harris as a potential replacement.
Companies Mentioned: Samsung, Neiman Marcus, Saks Fifth Avenue, Goldman Sachs,
US futures are pointing to a mostly flat open today. European equity markets are trading higher, following positive trading in Asian markets. The early focus today is on Fed Chair Powell's comments at the ECB conference, which highlighted progress on inflation and two-sided risks to the Fed's goals. His comments were seen as generally consistent with expectations of rate cuts starting in September. The record-high close in the S&P 500 has stimulated debate over its sustainability.
Companies Mentioned: Paramount, PDD Holdings, Shein
US equity futures are weaker as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are lower. Headlines from the ECB's Sintra conference are in the spotlight, as officials signal a cautious approach to rate cuts amid mixed economic signals. June RBA minutes showed the board weighed a rate hike in June amid upside inflation risks, but saw a stronger case to hold with households under financial pressure.
Companies mentioned: Paramount, Conn's
US market is anticipating a higher open. European equity markets are trading higher, following generally higher levels in Asian markets. Attention is on first round of the French election. Marine Le Pen's National Rally won approximately 33% of the vote. The second-round runoff vote is still to come next weekend. In the US, the fallout from Biden's weak debate continued following a drumbeat of calls for him to exit the race.
Companies Mentioned: BlackRock, Boeing, Spirit AeroSystems, Airbus, Meta Platforms
US futures are pointing to a higher open today. European equity markets have opened in the positive territory, following largely higher levels in Asian markets. Attention is on Biden-Trump debate with takeaways focusing on Biden's underwhelming performance. Trump's election odds also shortened. Nothing substantive from an economic standpoint.
Companies Mentioned: Infinera, Nokia, L'Oreal
US futures are pointing to a slightly lower open today. European equity markets are trading mixed, following lower trading in Asian markets. Markets are in a holding pattern amid macro volatility, technical-driven moves in AI stocks, the key US data on Friday, and the first round of the French election on the weekend. FX moves are also getting attention, with the Yen at the lowest level against the dollar since 1986.
Companies Mentioned: SM Energy, Carlyle, KKR, SpaceX
US futures are pointing to a slightly higher open today. European equity markets have opened higher, following firmer trading in Asian markets. The market is cautious ahead of the US PCE inflation on Friday, which is the Fed's preferred measure. European investors are also eyeing the first round of voting in the French election this weekend.
Companies Mentioned: AIG, Zurich Insurance Group, Sea Limited, Solera
US equity futures are firmer as of 05:00 ET. This follows mostly higher markets in Asia, while European equity markets are lower. The focus has turned to renewed tech weakness after Nvidia entered correction territory, as SOX fell to a two-week low. Yen weakness remains a talking point as it hovers near a 34-year low against the dollar.
Companies mentioned: Boeing, Spirit AeroSystems, Airbus
US futures are pointing to a higher open today. European equity markets have opened in the negative territory, following mostly weaker levels in Asian markets. Yen still in focus with Japan forex chief today reiterating government would address excessive yen moves.
Companies Mentioned: Boeing, United Parcel Service, HireRight
US futures are pointing to a slightly lower open today. European equity markets have opened weaker, following mostly lower levels in Asian markets. Dollar strength has pushed yen to 34-year lows, prompting Japan's forex diplomat to reiterate government's readiness to act if needed. US has added Japan to currency manipulation watchlist and called for China to be more transparent in its forex management. European markets have shrugged off political risk and keyed off central bank policy outlook.
Companies Mentioned: Spirit AeroSystems, Boeing, Airbus, Citigroup, Autodesk
US futures are pointing to a higher open today. European equity markets have opened higher, following mixed trading in Asian markets. The market returns today after the Juneteenth holiday on Wednesday. European central bank policy decisions in focus today. In other market news, overnight China left its 1-year and 5-year loan prime rates unchanged as expected. However, calls for further easing are growing louder following mixed May activity data.
Companies Mentioned: Vanda Pharmaceuticals, Discover Financial, Carlyle, KKR
US equity futures are broadly unchanged as of 05:00 ET. This follows higher markets in Asia, while European equity markets are firmer. Sentiment remains positive after yesterday's improved tone. US May Retail Sales headlines a busy macro calendar.
Companies mentioned: Apple
US futures are pointing to a very slightly higher open today. European equity markets have opened mixed to higher, following lower levels in Asian markets. Markets entering new week facing competing narratives. There’s renewed US disinflation traction following soft US CPI & PPI, driving dovish rate repricing and supported risk assets. But hawkish change to Fed's dot plot, pickup in concerns about US growth, French political turmoil, tariff fight with China are among bearish talking points.
Companies Mentioned: Carlyle Group, Amazon
US equity futures are mixed as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are lower. The Bank of Japan announced its intent to taper Japanese government bonds purchases and left rates unchanged as expected. Markets are fully pricing in two Fed rate cuts after cooler-than-expected US PPI provided further evidence on the disinflation trajectory. The G7 meeting saw the US and Ukraine sign a 10-year bilateral security agreement.
Companies mentioned: Mastercard, Visa, Adobe
US futures are pointing to a slightly higher open today. European equity markets have opened lower, following mixed trading in Asian markets. Markets are being influenced by the ongoing fallout from yesterday's US CPI data and FOMC meeting. US data was a positive influence on risk appetite on Wednesday, though sentiment is a bit more defensive today.
Companies Mentioned: Disney, Apple
US futures are pointing to a mostly flat open today. European equity markets have opened higher, following mixed trading in Asian markets. Sentiment is positive with strength in US big tech names supporting after Apple rallied to record highs. The broader focus now squarely on the upcoming US CPI data and FOMC meeting. CPI gains are seen as slowing sequentially, with year-ago little changed at the headline level and the core measure edging lower.
Companies Mentioned: Paramount Global
US futures are pointing to a slightly lower open today. European equity markets have opened with small gains, following mixed levels in Asian markets. After digesting fallout from European parliamentary elections, which had no meaningful spillover into US markets, attention now shifting to Wednesday's US CPI data and FOMC meeting. Consensus forecasts have indicated some division over dot plot, with one or two cuts on horizon.
Companies Mentioned: Apple, DXC Technology, Apollo Global, Kyndryl Holdings, Yext
US futures are indicating a lower open today. European equity markets have opened with losses, following mixed levels in Asian markets. US market now facing more complicated macro backdrop since Friday’s firmer-than-expected headline non-farm payrolls which again dampened Fed rate hike expectations. Sentiment rocked in European markets with euro dipping sharply on news of far-right surge in European parliament elections, and France's President Macron calling for snap general election.
Companies Mentioned: Diamond Offshore Drilling, Noble Corp, Walmart
US futures are pointing to a slightly higher open today. European equity markets have opened mixed, following lower levels in Asian markets. US dollar is flat, while Asia currencies have seen modest gains. Hawkish ECB officials reportedly regretted premature rate cut commitment. In US, markets back to pricing in two Fed rate cuts by end-2024.
Companies Mentioned: Patria Investments, Piper Sandler
US futures are pointing to a mostly flat open today. European equity markets have opened higher, following mixed trading in Asian markets. Focus on the ECB policy decision today, with the first rate cut in the cycle being anticipated. Attention is on comments related to policy outlook, with expectation the ECB will maintain a data-dependent approach and avoid signaling a further rate cut. Meanwhile, Fed rate cut expectations are supporting risk assets after the ADP private payrolls miss.
Companies Mentioned: Microsoft, OpenAI, Nvidia, Shein
US futures are pointing to a higher open today. European equity markets have opened mixed, following higher levels in Asian markets. Markets seeing dovish repricing of Fed rate path in recent sessions amid increase in growth concerns. Futures fully pricing in Fed rate cut by November, while odds for September move back above 50%. This has resulted in spillover in European rates market, where attention is turning to tomorrow's ECB decision with rate cut anticipated.
Companies Mentioned: Intel, Apollo, Kinetik Holdings
US equity futures are lower as of 05:00 ET. This follows mostly weaker markets in Asia, while European equity markets are lower. The USD is nearing its lowest levels since mid-March, as growth concerns lead markets to fully price in a Fed rate cut by December. Markets are eyeing signs that China's property support measures are working to stabilize the real estate market.
Companies mentioned: Johnson & Johnson, International Paper, Suzano, DS Smith
US futures are indicating a higher open today. European equity markets have opened in the positive territory, following mostly higher levels in Asian markets. Rate backup in focus with yield curves bear steepening amid hawkish Fedspeak and weak Treasury auctions. Markets also dialing back ECB rate cut expectations beyond June. BOJ rhetoric continuing to lean hawkish.
Companies Mentioned: Paramount Global, Sanofi, Stericycle, Waste Management
US futures are pointing to a lower open today. European equity markets have opened mixed, following higher levels in Asian markets. Downward revision to US GDP growth revived hopes of an interest rate cut before end of year. Investors also cognizant of US PCE price index due today, which may give clearer indication of Fed's next move.
Companies Mentioned: Apple, Hertz Global
US equity futures are pointing to a lower open as of 04:45 ET. This follows weaker markets in Asia, whilst European equity markets have opened mostly higher. Market sentiment has been undermined by the rate back-up following another softer Treasury auction. Supply concerns have added to the hawkish rate re-pricing. In overseas developments, Chinese Yuan is another focus as the on-shore rate hovers near a six-month low against the dollar.
Companies mentioned: OpenAI, Visa, Mastercard, Brookfield, Neoen
US equity futures are pointing to a lower open as of 04:45 ET. This follows weaker markets in Asia, whilst European equity markets have also opened lower. The rate back-up on supply pressures, firmer data, and the commodities rally are an overhang on the market. This follows last week's weakness in Treasuries on hawkish Fedspeak and minutes, and also positive macro surprise momentum.
Companies mentioned: ConocoPhillips, Marathon Oil, Merck
US equity futures are higher as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are narrowly mixed. The focus remains on the US economic backdrop and the Fed rate path. A rate cut looks like a done deal at next week's ECB meeting.
Companies mentioned: Petrobras
US equity futures are higher as of 05:00 ET. This follows weakness in Asia, while European equity markets are lower. The bond yield backup is in focus after markets responded to stronger-than-expected US PMIs that played into the good-news-is-bad-news dynamic. European PMIs were also stronger but price pressures are easing.
Companies mentioned: International Paper, Suzano, Nvidia
US futures are pointing to a higher open today. European equity markets have opened mostly in the positive territory, following mixed levels in Asian markets. May FOMC minutes noted disinflation likely to take longer than previously expected and discussion about maintaining current restrictive stance for longer. Also willingness to tighten policy further, should more inflationary pressures materialize. Markets now back to pricing in 1~2 rate cuts in 2024.
Companies Mentioned: Nvidia, McEwen Mining, Timberline Resources, Moderna, Pfizer, Live Nation Entertainment
US equity futures are broadly unchanged as of 04:45 ET. This follows mixed markets in Asia, whilst European equity markets have opened lower. Focus in Europe on UK inflation data, which eased sharply to 2.3% in April, but above the Bank of England’s forecast and services prices remain sticky. FOMC minutes due out later today, with previews noting a potential for a hawkish tilt, echoing recent Fedspeak that has pushed a higher-for-longer messaging on rates.
Companies mentioned: Snowflake, Schneider Electric, Bentley Systems, Panasonic, Tesla
US futures are pointing to a very slightly higher open today. European equity markets have opened in the negative territory, following lower levels in Asian markets. No fresh catalysts for markets as investors awaiting FOMC minutes to gauge timing and extent of possible rate cuts this year. Latest Fedspeak highlighted bumpy inflation, with comments from Fed officials signaling continued caution on interest rate policy. Prospects for European markets remain positive.
Companies Mentioned: Phillips 66, Suzano, International Paper
US futures are indicating a higher open today. European equity markets have opened in the positive territory, following advanced levels in Asian markets. Market sentiment remains bullish for risk assets amid hopes for US soft landing. Central bank comments in Europe leaning dovish in the meantime with summer rate cuts seeming likely. Speculation around timing of BOJ rate hike continues with Nikkei discussing potential of July increase.
Companies Mentioned: United States Steel, Nippon Steel, Paramount Global, Sony Pictures Entertainment, Apollo
US equity futures are broadly unchanged as of 04:45 ET. This follows mixed markets in Asia, whilst European equity markets have opened lower. Investors' optimism after the US inflation data release has been dampened by the Fed's signal to keep interest rates higher for an extended period. Markets are fully discounting a Fed rate cut in November, with a 68% chance of a cut in September, the same situation seen ahead of US CPI.
Companies mentioned: Tesla, Snowflake
US equity futures are broadly unchanged as of 04:45 ET. This follows mostly higher markets in Asia, whilst European equity markets have opened lower. Markets overnight have continued to react to the cooler-than-expected US CPI print, which has put renewed impetus behind the disinflation narrative following a recent run of hot prints. The Australian market reacted dovishly to employment data showing a surprise jump in the unemployment rate.
Companies mentioned: Paramount Global, Amazon, Shein, Pfizer, Siemens
US equity futures are broadly unchanged as of 04:45 ET. This follows mostly mixed markets in Asia, while European equity markets have opened higher. Sentiment remains buoyant ahead of the key US CPI data later today, which is expected to show a marginally softer sequential print with year-ago inflation at a three-year low.
Companies mentioned: Boeing, Sony, Paramount Global, Apollo
US equity futures are broadly unchanged as of 05:00 ET. This follows mostly lower markets in Asia, while European equity markets are little changed. Markets are looking to PPI data today before Wednesday's CPI. Recent China equity strength continues to attract attention.
Companies mentioned: Anglo American, BHP, Uber Technologies, Delivery Hero
US futures are indicating a higher open today, extending Friday's gains. European equity markets have opened in the positive territory, following mostly lower Asian markets. Equity market sentiment broadly supported by justified optimism regarding corporate earnings, hopes of Fed easing amid signs of weakening US labor market, alongside more dovish guidance from ECB and BOE. Attention now shifting to April US CPI report with consensus looking for some moderation in core inflation.
Companies Mentioned: Apple, Arm Holdings
US futures are pointing to a higher open today. European equity markets have opened in the positive territory, following mostly higher levels in Asian markets. Renewed confidence in rate cuts has given rise to better risk sentiment in US. In UK, takeaways from yesterday's BoE decision highlight potential for June rate cut if inflation, wage growth continue to ease.
Companies Mentioned: Kinetik Holdings, Exxon Mobil
US equity futures are pointing to a lower open as of 04:45 ET. This follows mixed markets in Asia, with European equity markets also mixed. A focus in Europe today on the Bank of England policy decision. A steady hand is expected, though there is the possibility of more MPC members backing a rate cut after only one official voted against the majority in March. A lack of other major catalysts with the market in wait-and-see mode ahead of the next meaningful signals on US inflation, Fed policy and the economic growth outlook.
Companies mentioned: Paramount, Apollo, Sony, Yamaha, BeiGene
US futures are indicating a mostly flat open today. European equity markets have opened mostly in the positive territory, following lower levels in Asian markets. No change in the broader narrative. Sentiment has improved in recent sessions on a recalibration of the outlook after the Fed downplayed the potential for rate hikes. A solid earnings season remains an underpinning factor with added support from recent declines in long-end Treasury yields.
Companies Mentioned: Budweiser Brewing Co APAC, Apollo, Ares Management
US equity futures are broadly unchanged as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are higher. The latest Fed-speak is consistent with last week's message from Fed Chair Powell that a rate hike is unlikely. Earnings growth is tracking well above expectations. China President Xi is in France to discuss trade and security risks.
Companies mentioned: Paramount Global, Apollo Global Management, Sony, Apple
US futures are pointing to a higher open today, extending Friday's gains. European equity markets have opened in the positive territory, following solid sessions in Asian markets. Softer than expected US nonfarm payrolls and ISM services results boosted sentiment. Fed repricing also brought forward, with first rate cut expected in September instead of November. Some support also comes from US earnings. China back in spotlight as Xi meets Macron and Caixin services PMI remained buoyant.
Companies Mentioned: Paramount Global, Sony Pictures Entertainment, Apollo, Comcast, Boeing
US futures are indicating a higher open today. European equity markets have opened mostly in the positive territory, following higher levels in Asian markets. Big tech earnings are bright spot in market. Corporate fundamentals remain supportive though reactions to headline surprises skewed to cautious side. Broader support to market sentiment put down to latest Fed guidance offering reassurance that rate hike is unlikely.
Companies Mentioned: Apple, Walt Disney, Amazon, Airbus, Spirit AeroSystems, Boeing, EnerSys, Terreno Realty
US equity futures are indicating a higher open as of 04:45 ET. This follows higher markets in Asia, while European equity markets are also higher. Equity markets are benefiting from no further escalation in Middle Eastern tensions. Some thoughts are the recent sell-off is more technical than fundamental. There is also ongoing focus on the Fed outlook, with a reduction in rate cut expectations remaining a talking point.
Companies mentioned: DOW, Arkema, Freshworks, Exxon Mobil, Pioneer Natural Resources
US equity futures are indicating a lower open as of 04:45 ET. A large number of markets closed for Labor Day holidays, but the ones that are open were lower in Asian and European trading. Attention on rates heightening ahead of the upcoming FOMC meeting. No policy change is expected but markets are awaiting further guidance from Powell following significant erosion in rate cut expectations priced in the market.
Companies mentioned: IBM, PG&E, KKR, Pfizer
US equity futures are indicating a slightly lower open as of 05:00 ET. This follows mostly higher markets in Asia, while European equity markets are mixed. Monday's yen volatility continued to reverberate overnight. China official manufacturing PMI was little changed in expansion territory, while non-manufacturing index was softer than expected. Markets are mostly awaiting tomorrow's FOMC, employment data and Treasury quarterly refunding, along with megacap earnings.
Companies mentioned: Comcast, Walt Disney, Warner Bros Discovery, Goldman Sachs, General Motors, Barclays
US futures are pointing to a higher open today. And European equity markets have opened in the positive territory, following advanced levels in Asian markets. Yen in headlines as it rebounded. Market focus also on concerns over hawkish repricing of Fed pivot expectations with only one rate cut now being priced in for 2024. Also concerns that Fed will have no scope to ease at all in 2024.
Companies Mentioned: Heartland Financial, UMB Financial, Zoetis, Phibro Animal Health, Fulton Bank, Republic First Bancorp, Apple
US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened in the positive territory, following mostly higher Asian markets. BOJ left policy settings unchanged as expected. FY24 core inflation projection upgraded. FY26 core inflation around 2%. Bond purchases to be conducted in accordance with decisions made in March. Finance Minister Suzuki expressed concerns over negative effect of yen depreciation, repeating readiness to act if needed.
Companies Mentioned: MSFT, GOOG, SNAP, INTC
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened mixed, following mixed to lower Asian markets. Upcoming US GDP and PCE readings broadly highlighted as main risk events. Attention also on FX developments with yen breaking into 155 vs dollar and entering range expected to prompt MOF intervention. BOJ policy still widely expected to remain unchanged.
Companies Mentioned: Meta Platforms, HashiCorp, IBM, Boeing
US equity futures are indicating a higher open as of 05:00 ET. This follows broadly higher markets in Asia, while European equity markets are firmer. Sentiment remains positive with lower rates and a weaker dollar helping on Tuesday after softer US flash PMI data. The focus in US after-hours was on earnings from Tesla.
Companies mentioned: Tesla, Texas Instruments, Visa
US equity futures are indicating a mostly flat open as of 04:45 ET. This follows higher markets in Asia, while European equity markets are also higher. Equity markets are benefiting from no further escalation in Middle Eastern tensions. Some thoughts are the recent sell-off is more technical than fundamental. There is also ongoing focus on the Fed outlook, with a reduction in rate cut expectations remaining a talking point.
Companies mentioned: JD Sports Fashion, Hibbett, Novartis, SAP
US equity futures are indicating a higher open as of 04:45 ET. This follows higher markets in Asia, while European equity markets are also higher. Sentiment improving amid some tentative signs of easing in the Middle Eastern tensions. Iran continues to downplay the Israeli attack, suggesting no appetite to escalate the situation. The market continues to evaluate the Fed outlook. Some Fed officials warn of the potential for no rate cuts this year.
Companies mentioned: Express, NYSE, Unilever, Salesforce, Informatica
US equity futures are indicating a lower open as of 04:45 ET. This follows lower markets in both Asia and Europe, following escalation in the Middle-East overnight with reports of Israeli strikes on facilities inside Iran. However, much remains unclear, including what was struck and the extent of damage. Markets continue to pare back Fed easing expectations with futures pricing in 1-2 cuts and the first now not anticipated until September.
Companies mentioned: Paramount Global, Sony, Apollo Global Management, Meta, Apple, Google
US equity futures are indicating a higher open as of 04:45 ET. This follows higher markets in Asia, while European equity markets are also higher. Sentiment remains weighed down by hawkish repricing of the Fed rate path with futures now only pricing in 1-2 rate cuts in 2024. Some attention on US, Japan, and South Korea financial leaders' summit, where Treasury Secretary Yellen acknowledged counterparts' concerns over exchange rate depreciation.
Companies mentioned: Micron Technology, EasyJet, Nokia
US equity futures are indicating a higher open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are mostly higher. No change in the market drivers, as confluence of Fed policy repricing, risk aversion and elevated volatility continues. Markets are now pricing in less than 50 basis points of Fed easing this year amid the latest Fedspeak and data resilience.
Companies mentioned: Adidas, LVMH Moet Hennessy Louis Vuitton, Just Eat Takeaway.com
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows sharply lower markets in Asia, while European equity markets are broadly weaker. Middle East tensions continue to weigh on risk sentiment. Bond yields continue to backup, continuing the recent hawkish repricing of the Fed rate outlook amid firmer US data. FX volatility is the other big market development, especially in Asia.
Companies mentioned: International Paper, DS Smith, Live Nation Entertainment, Microsoft, UBS
US equity futures are indicating a higher open as of 05:00 ET. This follows weaker markets in Asia, while European equity markets are mostly higher. Markets are dealing with the fallout from the Iranian missile and drone assault against Israel. Treasury Secretary Yellen said nothing is off the table when dealing with China's overcapacity, including the use of additional tariffs. China pledges stronger stock market regulation and risk prevention measures.
Companies mentioned: Salesforce, Informatica, Tesla, Encore Wire, Prysmian
US equity futures are indicating a broadly unchanged open as of 05:00 ET. This follows mostly lower markets in Asia, while European equity markets are broadly higher. Markets are finding some reprieve from cooler-than-expected US PPI. However, markets are pricing in less than two Fed rate cuts in 2024. ECB-speak after yesterday's policy decision is supporting a June cut, in a divergence from Fed policy. US banks will kickoff Q1 earnings season today.
Companies mentioned: Brookfield Asset Management
US equity futures are indicating a broadly unchanged open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are mostly higher. Markets are digesting the implications from yesterday's hotter US CPI print. The data prompted another round of hawkish rate re-pricing with futures pricing in two Fed cuts in 2024 - one less than Fed's median projection. Focus is on the ECB’s decision today, as well as FX intervention watch after the Yen broke below the closely watched 152-per dollar handle.
Companies mentioned: Nippon Steel, US Steel
US equity futures are indicating a broadly unchanged open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are mostly higher. The market is in waiting mode for several potential catalysts, particularly the March CPI due later today. We also have the ECB decision on Thursday and the start of bank earnings season on Friday. In overseas developments, Reserve Bank of New Zealand left its official cash rate unchanged as expected and reiterated rates need to remain restrictive for a sustained period.
Companies mentioned: CVC Capital Partners, Tesco, Taiwan Semiconductor
US equity futures are indicating a broadly unchanged open as of 05:00 ET. This follows mostly firmer markets in Asia, while European equity markets are mostly lower. There are no fresh catalysts for markets, with the stronger US growth backdrop still the overriding influence. Wednesday's US CPI data is in focus, with the report expected to garner even more attention than usual given the firmer US growth backdrop.
Companies mentioned: Meta, WW International, TSMC
US futures are pointing to a mostly flat as of 04:45 ET. European equity markets have opened higher, following mostly higher Asian markets. Bond weakness the big story on global markets with yields propelled higher by a hotter-than-expected US payrolls report. In overseas developments, Asian market participants are eyeing a potential FX intervention from Japanese authorities with USD/JPY pair close to 152, eyed as a potential red line.
Companies Mentioned: Exxon Mobil, Shimao, China Construction Bank
US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened much lower, following mostly weaker Asian markets. Geopolitical tensions largely been ignored by markets, but Middle East fighting has driven risk-off move on equity markets. Oil is at 6-month high, fueling concerns it will slow disinflation momentum. Nervousness in US ahead of non-farm payrolls amid debate over when Fed will first cut rates. ECB minutes and bank officials highlighted gradual approach towards rate cuts.
Companies Mentioned: Vodafone, CK Hutchison, Samsung Electronics
US equity futures are indicating a higher open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are higher. Equity markets have taken encouragement from comments from Fed Chair Powell, who said on Wednesday if the economy evolves as expected then it’s likely appropriate to begin cutting rates at some point this year. However, the strength in commodities may undermine the disinflation narrative if sustained. Attention now centers on March US nonfarm payrolls on Friday, with the data taking on added importance in terms of shaping rate expectations.
Companies mentioned: Konica Minolta, Volvo
US equity futures are indicating a lower open as of 04:45 ET. This follows lower markets in Asia, while European equity markets are mixed. The rate backup is the main influence on the broader market sentiment. Blame has largely gone to the unexpected strength in US ISM. Attention is also on some high-profile warnings on the US deficit level.
Companies mentioned: Paramount Global, Disney
US equity futures are indicating a broadly unchanged open as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are higher. Attention is on largely in line core PCE, Fed Chair Powell's comments, and firmer-than-expected ISM manufacturing, which unexpectedly moved into expansion for the first time in 16 months. Final Eurozone manufacturing PMIs have been revised up, while China manufacturing PMI is adding to cautious optimism that the economy is bottoming.
Companies mentioned: Walt Disney, Humana, CVS Health, UnitedHealth, Elevance Health
US equity futures are indicating a higher open as of 04:45 ET. Light trade following the Easter weekend with a number of markets closed. Mainland China stocks rallied on Monday following a rebound in manufacturing activity which reinforced hopes around an economic recovery. Japan markets finished lower.
Companies mentioned: Rakuten Group, Nippon Steel, US Steel
US equity futures are indicating a mostly flat open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are higher. Momentum has been limited this week with activity light ahead of the long Easter weekend. The market continues to benefit from central bank rate cut expectations, though positioning dynamics and overstretched indicators are limiting gains. The Fed's Waller reiterated earlier views that there’s no rush to cut interest rates, but still anticipates the first move this year.
Companies mentioned: Take-Two, Embracer Group, Keysight, Spirent Communications, Viavi Solutions
US equity futures are indicating a higher open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are higher. Activity remains light ahead of the Easter holiday. The market continues to benefit from central bank rate cut expectations and a better macro backdrop. The Yen touched a new 34-year low against the dollar overnight.
Companies mentioned: Walt Disney
US equity futures are indicating a higher open as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are mixed. Geopolitical tensions are ratcheting higher after the US and UK accused China hackers of orchestrating a cyberespionage campaign against democratic institutions. Chinese regulators are urging banks to speed up loan approvals for "whitelist" real estate development projects.
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened in the negative territory, following mixed Asian markets. Central bank meetings have provided tailwind for risk assets. Economists see BOJ potentially hiking again as soon as July. BOJ members increasingly confident on inflation target with discussions revolving around ending NIRP. European policymakers also increasingly comfortable with June rate cut.
Companies Mentioned: Blackstone, Qualcomm, Boeing, United Airlines
US equity futures are indicating a flat open as of 04:45 ET. This follows a lower Asian session, and European equity markets opening mostly down. Markets are largely in a waiting mode ahead of the US CPI data later today, and also the ECB decision coming tomorrow. US data previews see an energy-driven rise in headline CPI but no change in core figures. Market expectations are shifting to the likelihood of an ECB rate increase after a Reuters report said the ECB expects inflation to stay above 3% next year.
Companies Mentioned: Apple, Arm Holdings, BP
US equity futures are indicating a lower open as of 05:00 ET. This follows mixed Asian equities, while European equity markets are mixed after paring early gains. Economists expect further RRR cuts after China credit demand improved. BoE's Mann said rates must rise further to slow inflation. Markets are waiting for US CPI data tomorrow and the ECB meeting on Thursday.
Companies Mentioned: WestRock, Smurfit Kappa, Alibaba
US futures are pointing to a higher open as of 04:45 ET. European equity markets have opened with gains, following mixed Asian markets. Strong US macro data and surging oil prices are driving the "good news is bad news" narrative and spurring more talk about waning disinflation momentum. Markets are still not pricing in additional Fed rate hikes this year even as US August CPI previews note expectations for a pickup in headline inflation.
Companies Mentioned: JM Smucker, Hostess Brands, Meta, Arm
US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened with small gains but are now trading lower, following mostly weaker Asian markets. Markets continue to digest fallout from reports that China is widening its ban on iPhone. Futures market now see 40% chance of another 25bp increase in November but latest Fedspeak still points to September pause.
Companies Mentioned: Chevron, Goldman Sachs, Zoom, Microsoft
US futures are pointing to a lower open as of 04:45 ET. European equity markets have opened down, following lower Asian markets. The market tone remains defensive following a renewed backup in rates in the prior session. There’s speculation Chinese policymakers will announce further support for the property market, fueling big gains among real estate developers.
Companies Mentioned: Apple, Sculptor Capital Management, Instacart, Taiwan Semiconductor
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened with little change, following mixed to lower Asian markets. Oil prices touched 10-month highs and set off jitters disinflation momentum might have peaked. This then led to a Treasury market selloff and a stronger USD.
Companies Mentioned: Amazon, Google, Coinbase
US equity futures are indicating a lower open as of 05:00 ET. This follows mixed Asian equities, while European equity markets are softer. China Caixin services PMI fell by more than expected. Russia's President Putin told Turkey's President Erdogan that Russia is ready to restart its grain deal if sanctions on agricultural exports are relaxed.
Companies Mentioned: NextGen Healthcare, Apple, Microsoft, Country Garden
US futures are pointing to a higher open. European equity markets have opened positive. Asian markets mostly went higher, though gains were relatively modest overall. Equity market has been supportive following the recent bounce in risk appetite due to rate reprieve. Disinflation narrative is also intact.
Companies Mentioned: Goldman Sachs, Walt Disney, Charter Communications
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows a mixed Asian session, while European equity markets are higher in early trading. A couple of Central Bank speeches to digest; ECB's Schnabel highlighted activity has moderated visibly but underlying price pressures remain stubbornly high, and talked up the likelihood of policy remaining restrictive. Fed's Bostic warns against overtightening and said the current stance is appropriate. Concern also remains on the slowdown in China, particularly the property sector.
Companies Mentioned: Country Garden, Tesla, Microsoft, Goldman Sachs
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows a mostly positive session in Asia, while European equity markets are higher in early trading. Sentiment remains positive after Tuesday's US data supported expectations of a Fed pause and fits in with the soft landing narrative. Other supportive factors include reduced volatility, China stimulus and recent M&A pickup, along with favorable positioning dynamics.
Companies Mentioned: Amazon, Centene
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows broad strength in Asia, while European equity markets are firmer. Bond markets are rallying with the Treasury curve bull steepening. Chinese authorities are stepping up efforts to shore up investor confidence. China's economic growth forecasts continue to come down with the government's GDP growth target of ~5% considered increasingly in doubt absent aggressive stimulus.
Companies Mentioned: Catalent, Google
US futures are pointing to a slightly higher open as both Nasdaq and the S&P 500 broke three-straight weekly declines. European equity markets have opened positive, following upbeat Asian markets. Markets unfazed by hawkish speeches from chair Powell at Jackson Hole and pricing in almost two-thirds probability of a November rate hike.
Companies Mentioned: XPeng, Didi, BYD, Jabil, Evergrande
US futures are pointing to a slightly higher open. European equity markets have opened in the positive territory, following Asian markets trading lower. Market attention coming into Friday is on Powell's speech in Jackson Hole, though previews have already flagged expectations for some hawkish leanings, in line with the Fed's tightening bias. Some attention is also on options price action that might portend higher volatility around the event.
Companies Mentioned: Amazon, Disney, Hertz, Hawaiian Electric
US futures are pointing to a higher open. European equity markets have opened in the positive territory, following upbeat Asian markets. Risk-on rally in US overnight with optimism fueled by Nvidia. Soft PMIs and mortgage rates at 23-year highs triggering fresh warnings of potential US recession. Powell expected to still lean hawkish in Jackson Hole speech tomorrow.
Companies Mentioned: Nvidia, KKR, Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, UBS
US equity futures are indicating a higher open as of 05:00 ET. This follows mostly higher levels in Asia, while European equity markets are firmer. We’ve seen a pullback in yields from recent highs, which is being supportive for equity markets. This will likely remain a focus heading into Friday's Jackson Hole conference. Ahead of Friday we’ll see earnings come back to fore, particularly with attention heightening on Nvidia’s results later today.
Companies Mentioned: Nvidia, Manchester United, Qualcomm
US equity futures are indicating a higher open as of 05:00 ET. This follows mostly higher levels in Asia, while European equity markets are firmer. The focus remains on global bond markets as sovereign yields globally break to multi-month or even multi-year highs. The PBOC set the daily yuan fixing with the strongest bias on record as Beijing pushes to stabilize its currency.
Companies Mentioned: Microsoft, Activision Blizzard, Ubisoft Entertainment
US futures are pointing to a slightly higher open as of 04:05 ET. European equity markets have opened in the positive territory, following mixed trades in Asia. While markets await Fed Chair Powell's Jackson Hole speech, some Fed officials have recently warned of a significant upside risk to inflation, which could require further tightening. Elsewhere, China made smaller-than-expected cuts to its 1Y and 5Y loan prime rates.
Companies Mentioned: Goldman Sachs, Citigroup, Yellow, Old Dominion Freight Line
US futures are pointing to a very slightly lower open as of 04:05 ET. European equity markets have opened down, following negative trades in Asia. Higher rate backdrop has been a high-profile focus amid concerns disinflation momentum may start to wane, while economic resilience could leave rates higher for longer. Market attention now turning to Fed Chair Powell's speech at Jackson Hole Symposium next week, and whether he will provide any explicit policy signal.
Companies Mentioned: Evergrande, Bloomin' Brands
US equity futures are indicating a largely flat open as of 04:45 ET. This follows a lower Asian session and European equity markets also opening lower. The higher interest rate backdrop is in focus after FOMC minutes showed most members remained concerned about upside risks to inflation. A focus also remains on the China slowdown and possible spillover from the real estate sector.
Companies Mentioned: BAE Systems, Ball Corporation, Hawaiian Electric, Tyson Foods
US equity futures are indicating a slightly higher open as of 04:45 ET. This follows a lower Asian session and European equity markets opening mixed to lower, following on from Tuesday's weak US session. China growth concerns and spillover risks from the real estate sector are still undermining broader sentiment. In addition, the recent backup in bond yields is also an overhang, along with conjecture that central banks could flag structurally higher neutral rates.
Companies Mentioned: Occidental, Intel, Tower Semiconductor, Esmark, US Steel
US equity futures are indicating a lower open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are under pressure. The higher rate backdrop is in focus as the Treasury 10Y real yield hit its highest level since 2009. China unexpectedly cut the MLF rate while injecting a net CNY1B in medium-term liquidity. Russia has raised rates by 350 bps to 12% after recent rouble weakness.
US futures are indicating a higher open as of 04:05 ET. European equity markets have opened mixed, following a largely disappointing performance in Asia. Markets are taking lead from weakness in China with no change in broader themes. Latest US data has little bearing on Fed policy outlook, as July CPI underpinned disinflation narrative, though firmer-than-expected PPI cited as an overhang for the stock market.
Companies Mentioned: United States Steel, Cleveland-Cliffs, SoftBank, Arrival, Country Garden
US futures are pointing to a very slightly higher open as of 04:05 ET. European equity markets have opened negative, following mixed to lower levels in Asian markets. US CPI data largely supported disinflation narrative, leading markets to reduce already low probability of further Fed rate hikes. But some note disinflation path likely to be bumpy, while others highlight risk of pass-through to goods prices from resurgence of energy and food costs.
Companies Mentioned: Arco Platform, EMIS Group, UnitedHealth Group
US equity futures are indicating a higher open as of 05:00 ET. This follows higher Asian trade, with European equity markets also trading up. Risk appetite still in recovery mode ahead of the key US CPI data later today on hopes China deflation may lead to a pause (or end) in central bank hiking cycles. Some attention also on EU gas prices, which jumped 40% on Wednesday as Australia labor strikes risk 10% of global LNG.
Companies Mentioned: Baidu, Tencent, Alibaba, ByteDance, Nvidia, Tapestry, Capri Holdings, Deustche Telekom, Siemens AG, Allianz
US equity futures are indicating a higher open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are higher. China's CPI has dipped into deflation territoryfor the first time since early 2021. The offshore yuan is rebounding amid reports China state banks were seen selling dollars. The US is set to limit the scope of its China investment ban.
Companies Mentioned: Penn Entertainment, Walt Disney, Ford Motor, General Motors, Stellantis
US equity futures are indicating a lower open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are lower. There is nothing in the way of big directional drivers in play and still a lot of push and pull surrounding the big themes. Earnings takeaways over the last several weeks seem to fit with the soft-landing narrative.
Companies Mentioned: Amazon, Snap, Ant Group, Disney
US futures are pointing to a higher open. European equity markets have had a tepid open, following mixed to lower levels in Asian markets. Pickup seen in soft-landing expectations. Concerns now over corporate earnings guidance downgrades. Treasury Department's larger-than-expected borrowing needs also highlight risk of growing deficits and rising interest costs further out into future.
Companies Mentioned: New York Times, NRG Energy
US futures are indicating a higher open, with Amazon supporting Nasdaq futures amid upbeat revenue guidance and signs of AWS stabilization in its earnings highlights. European equity markets have also opened positive, following a rebound in Asian markets. Risk appetite attempting to stabilize after strong declines in past three sessions and ahead of US employment data print due later.
Companies Mentioned: Amazon, Paramount Global, KKR, Apollo Global Management
US futures are pointing to a lower open after climbing slightly higher in afterhours. European equity markets have also opened negative, following lower levels in Asia. Fallout continues from Fitch's downgrading of US credit rating. Downgrade blamed in part for risk-off move in equities though sell-side firms downplayed significance for Treasuries.
Companies Mentioned: Hasbro, Lions Gate Entertainment, Pacific Biosciences
US futures are indicating a lower open as of 04:45 ET. APAC traded lower overnight, with Europe markets also opening lower in morning trading. Equity markets remain defensive after yesterday's downturn seemed to accelerate after a move back up in bond yields, despite mostly softer economic data. Attention is also on Tuesday’s Fitch downgrade of US credit after the agency put the US on Watch Negative in May.
Companies Mentioned: Coca-Cola, Homestreet, Nomura
US futures are indicating a lower open as of 04:45 ET. APAC traded mixed overnight, with Europe markets opening largely lower in morning trading. A string of better-than-expected macro data, falling inflation, resilient consumer spending, and still-tight labor markets are underpinning a pickup in soft landing expectations. However a resurgence in commodity prices threatens to fuel upward pressure on headline inflation rates.
Companies Mentioned: CVS, Coinbase, UPS, BMW
US futures are pointing to a lower open. European equity markets also peeled lower at the open, following higher levels in Asia. Some believe markets are prematurely pricing in rate cuts next year as resilient economic data prints strengthen soft-landing expectations. Resurgent commodity prices also posing a risk to disinflation momentum. Peak Fed and peak ECB expectations impacted by slowing China PMIs.
Companies Mentioned: Walmart, Johnson & Johnson
US futures are indicating a higher open. European equity markets have opened lower as they catch up with Wall Street's late drop. Asian equities finished mixed in a strong catalyst-based trading day. BOJ decided to increase flexibility around YCC target, saying it will keep 0.5% ceiling but allow for moderate movements above that level. No other changes to policy settings. US data points to possibility of soft landing.
Companies Mentioned: Pfizer, AstraZeneca, Topbuild
US futures are pointing to a higher open. European equity markets have opened positive, following largely higher levels in Asia. Muted reaction to well-expected 25-bp Feb hike. Markets pricing out likelihood of another increase. ECB likely to hike by 25bps later. And expectations for no policy change from BOJ tomorrow.
Companies Mentioned: Tesla, Netflix, Microsoft, Xpeng, Volkswagen
US futures are indicating a flat open as of 04:45 ET. APAC traded mixed overnight, with Europe markets opening largely lower in morning trading. News flow in the markets has recently been dominated by company earnings, which is set to continue throughout today’s US equities session. We also have the US Fed decision due later today, which is still seeing debate around some of the key themes.
Companies Mentioned: Ant Group, X Corp (Twitter), Deutsche Bank
US futures are pointing to a slightly higher open. European equity markets have opened mixed, following a largely positive performance in Asia. Equity markets remain supportive amid increasing disinflation traction, potential for soft landing and expectations that central banks are moving close to peak. China Politburo takeaways are dovish.
Companies Mentioned: Community Health Systems
US futures are indicating a slightly higher open as of 04:45 ET. APAC traded mixed overnight, with Europe markets opening largely lower in morning trading. Central bank meetings and corporate earnings headline this week's calendar. A lot of attention will be on the Fed meeting. The ECB is expected to raise its policy rate by 25bp, with some attention on President Lagarde's press conference.
Companies Mentioned: American Airlines, AMC Entertainment, Gilead Sciences, Eisai
US futures are indicating a higher open. European equity markets have opened positive, following mixed to lower Asian markets. High-profile tech earnings disappointments are key area of focus, though no meaningful shift in market narrative. Attention also on next week's central bank policy decisions, with Fed and ECB expected to deliver 25-bp hikes.
Companies Mentioned: TSMC, Google
US futures are pointing to a lower open as NFLX, TSLA, and IBM have all gone down in post-market trade following underwhelming results. European equity markets have opened positive, following mixed but mostly weaker Asian markets. Attention on US afterhours earnings. Q2 earnings metrics running ahead of their one-year averages and nothing surprising from a thematic perspective.
Companies Mentioned: Tesla, Netflix
US futures are pointing to a flat open as of 04:45 ET. European equity markets have opened mostly higher, following an Asian trading session closing with a positive tilt. UK CPI for June dominates the European macro calendar, with the reading showing headline inflation easing sharply in June. Attention is also on a FT report that Russian President Putin has ordered seizures of Carlsberg and Danone assets after businessmen close to the Kremlin expressed an interest.
Companies Mentioned: Carlsberg, Danone, AT&T, Foxconn, Walt Disney
US futures are pointing to a very slightly higher open as of 04:05 ET. European equity markets have opened mostly lower, following mixed but mostly weaker Asian markets. Focus on hawkish comments from ECB official Knot, who signaled core inflation may have plateaued. Some positive UK inflation developments as well. Nothing new from RBA minutes. Sell-side analysts lowered China GDP growth forecasts.
Companies Mentioned: Microsoft, Activision Blizzard
US futures are indicating a flat open as of 04:45 ET. APAC traded largely lower overnight, with Europe markets also opening lower in morning trading. Markets are turning defensive after last week's decent gains. While the Fed is still expected to hike by 25 bp this month, the odds of another rate increase by end-2023 have diminished.
Companies Mentioned: Microsoft, Activision, Sony, Tesco, Charles Schwab, Intel, Qualcomm
US futures are indicating a flat open as of 04:45 ET. APAC traded largely higher overnight, with Europe markets also opening higher in morning trading. Not a lot of new drivers in the market, with France closed for the Bastille Day holiday and equity markets consolidating after recent gains.
Companies Mentioned: Roivant Sciences, Roche, SpaceX, Microsoft, Activision, Nokia
US futures are indicating a higher open as of 04:45 ET. APAC traded sharply higher overnight on the back of the US CPI reading, with Hong Kong tech stocks continuing their outperformance. Europe markets have also opened higher in morning trading. The smaller-than-expected increase in CPI has reinforced the disinflation narrative, while the prospect of the Fed nearing an end to its tightening cycle plays further into expectations of a soft landing.
Companies Mentioned: Meta, Microsoft, Activision, Liquid Death
US futures are indicating a slightly higher open as of 04:45 ET. APAC traded mixed overnight with the Hang Seng continuing to move higher while Japan was lower again. Europe is broadly higher early. The US dollar is at two-month lows with the focus this morning on US CPI data for June.
Companies Mentioned: IBM, Coty, NVIDIA, Intel, LG Electronics
US futures are indicating a flat to slightly lower open as of 04:45 ET. Broad strength in Asia overnight with the Hang Seng outperforming as the PBoC announced an extension of lending support to the real estate sector. European equity markets are trading firmer early in their sessions. Some focus on UK labor market data.
Companies Mentioned: Thoma Bravo, ForgeRock, Renault, Geely
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened with losses, following a mixed Asian session. June CPI is the main event for this week. Forecasts are for an uptick in monthly headline inflation but a drop in core. China tech stocks outperformed in Monday's Asian session after regulators ended a multi-year probe of Ant Group by levying $1B fine over company's planned IPO in 2020.
Companies Mentioned: Ant Group
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened with losses, following mostly negative Asian trade. Hotter-than-expected US ADP payroll data sending Fed fund futures flying for year-end 2024, fueling concerns of drawn-out tightening cycle. Prospect of ongoing rate hikes also heightening concerns of policy mistake as yields push higher and curves remain inverted.
Companies Mentioned: Alibaba, Meta
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened with losses, following lower levels in Asia. Market is waiting for some key employment data over the final two days of this week, along with next week's release of the June CPI and the start of Q2 earnings season. Traders see a July rate increase as a done deal and there is also the possibility of further hike beyond, though data is likely to be key.
Companies Mentioned: Meta, Bank of China, ICBC, Industrial Bank, Bank of Communications, Hua Xia Bank
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened with small losses, following lower levels in Asia. July FOMC minutes expected to mirror Powell's recent hawkish-leaning comments hinting at two further rate hikes in 2023. Fed Fund Futures currently pricing in 89% chance of a hike this month but only 32% chance of a second hike in September.
Companies Mentioned: Thermo Fisher Scientific
US futures are pointing to a slightly higher open as of 04:05 ET. European equity markets have opened with modest gains, following a positive performance in Asia. Path of least resistance remains higher for equity markets as disinflation traction and soft-landing hopes overshadow concerns about a longer tightening cycle. Treasury yields back to March highs as deeply inverted curve continues to give off recession signals.
Companies Mentioned: Stratasys, 3D Systems, Apple, Goldman Sachs
US futures are indicating a higher open as of 04:05 ET. European equity markets have opened with solid gains, following mostly positive Asian trade as markets met a resilient handover from Wall Street. Risk appetite is benefiting from soft-landing hopes outweighing expectations of more central bank tightening, particularly in US.
Companies Mentioned: Air Liquide, Cummins
US futures are pointing to a slightly higher open as of 04:05 ET, with Micron rallying after guiding Q4 revenue above analyst expectations, and with US banks higher afterhours following Fed stress test result. European equity markets have opened in positive territory mostly, following mixed Asian levels. Hawkish takeaways from ECB Forum. Fed Chair Powell said he would not rule out moving at consecutive meetings.
Companies Mentioned: Micron Technology, Visa, Keysight, ESI Group
US futures are indicating a lower open as of 04:05 ET. European equity markets have opened in the positive territory, following mixed Asian levels. Soft landing hopes up in US with strong economic data helping market tone. However, in Europe worries remain over risk of central bank policy mistake as ECB continues to talk tough on inflation and BOE is tipped to continue to tighten aggressively. US-China tensions back in focus following reports Biden is considering new curbs on exports of AI chips to China.
Companies Mentioned: Whole Earth Brands, KKR, Blackstone, Qantas Loyalty
US equity futures are indicating a higher open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are higher. The fallout continues from Wagner boss Yevgeniy Prigozhin's aborted advance on Moscow. There was nothing incremental from China Premier Li at the World Economic Forum, where he flagged measures to boost demand but did not go into specifics.
Companies Mentioned: Blackstone, American Equity Investment Life, Brookfield Reinsurance
US futures are indicating a slightly lower open. European equity markets have opened with losses, following weaker levels in Asia. Press takeaways from weekend's Wagner developments in Russia concur Prigozhin's insurrection attempt has weakened Putin's grip on power. Meanwhile, narrative of rates staying "higher for longer" and concerns of slowing growth may continue to spill over and weigh on risk sentiment.
Companies Mentioned: Horizon Therapeutics, Amgen, IBM,
US futures are pointing to a lower open. European equity markets have opened with sizable losses, following sharp decline in Asian equities on concerns central banks are set to extend tightening cycle deeper into H2. Rate hikes by Swiss, Norwegian and UK central banks on Thursday have prompted new fears as global central banks have either resumed or stepped up pace of tightening with inflation proving stickier than assumed. But it's a different story in China and Japan.
Companies Mentioned: Celanese, Mitsui, lululemon athletica
US equity futures are indicating a lower open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are softer. Fed Chair Powell's Congressional testimony on Wednesday saw him reiterate that the Fed expects more tightening by year-end; Powell is also set to appear before the Senate Banking committee today. It is a big day for European central bank policy decisions, including the BoE, which is set to hike rates by at least 25 bps. China stimulus prospects remain uncertain.
Companies Mentioned: Paramount Global, Amazon, Ocado
US futures are indicating a slightly lower open as of 04:05 ET. European equity markets have opened flat, following mostly weaker Asian equities. Overall market sentiment still on edge over disappointment at size of China’s rate cuts yesterday and lack of follow-through on stimulus plans. Markets also anxious ahead of Powell’s testimony with futures still seeing only one more Fed hike versus two on dot plot.
Companies Mentioned: Activision Blizzard, Microsoft, SoftBank
US futures are pointing to a lower open. European equity markets have opened flat, following mostly weaker Asian equities as investors reacted negatively to a modest LPR cut in China. US-China relations now on more stable footing after Blinken's visit to Beijing. His visit has also improved prospect of Biden meeting Xi later this year, spurring hopes of more regular dialogues at senior level. China has lowered 1Y and 5Y loan prime rates by 10bps.
Companies Mentioned: Adobe, Civitas Resources
US futures are indicating a slightly lower to flat open as of 04:05 ET. European equity markets have opened with some gains as they catch up with the late surge in the US. Asian markets were mostly higher. Bullish market sentiment remains supported by optimism from moderating US inflation and subsequent data releases reinforcing views that Fed is near end of its tightening cycle, which also gives support to soft landing prospects.
Companies Mentioned: Squarespace, Google, Goldman Sachs
US futures are pointing to a slightly lower open. European equity markets have opened with some losses, following mixed levels in Asia. Fed left rate unchanged as expected and markets now expecting 2 more rate hike to follow. Slim majority looking for rate cuts to begin 2Q24 and some projecting a 4Q23 start.
Companies Mentioned: Balyo, SoftBank Group
US equity futures are indicating a higher open as of 05:00 ET. This follows broad strength in Asia, while European equity markets are higher. The Fed is expected to maintain the fed funds target range at 5.00-5.25% at the June FOMC meeting today. There is more follow-through on China stimulus headlines, as China's NDRC announced 22 measures aimed at reducing costs for businesses this year.
Companies Mentioned: Advanced Micro Devices, UnitedHealth, CVS Health, Humana
US futures are pointing to a strong open. European equity markets have opened with gains, following mostly higher levels in Asia. Another rally in US stocks overnight with tech stocks outperforming almost everything else. Macro focus remains on CPI data today and upcoming central bank decisions. Fed expected to leave policy unchanged, though a close call.
Companies Mentioned: Google, Bank of America
US futures are indicating a slightly higher open. European equity markets have opened with small gains, following mixed to higher levels in Asia. Focus is on this week's CPI and FOMC meeting. Fed is expected to leave policy unchanged with 25bp bump anticipated in July. BoJ Friday decision tipped to result in unchanged stance. Markets fully priced for another ECB rate hike by 25bps Thursday.
Companies Mentioned: Oracle, American Airlines, JetBlue
US futures are indicating a slightly lower open. European equity markets have opened with some losses, following mostly positive Asian trade. Higher-than- expected US jobless claims leading to decline in Treasury yields overnight, while giving Wall Street tech stocks support with bets increasing that Fed will pause rate hikes next week.
Companies Mentioned: Option Care Health, Walgreens Boots Alliance, Visa
US futures are pointing to a slightly lower open. European equity markets have opened in the negative territory, following mostly weak Asian trade. Central bank policy developments leaving cautious tone for markets. Consensus is for Fed to hike one more time, although it is expected to leave rates on hold next week.
Companies Mentioned: Lucid Group, Apple
US equity futures are indicating a lower open as of 05:00 ET. This follows mostly higher Asian markets, while European equity markets are lower. US Secretary of State Blinken will travel to China for talks in the coming weeks. Discussions continue to revolve around valuations with the S&P 500 on the cusp of bull market territory. China trade surplus shrinks as exports see a bigger-than-expected drop.
Companies Mentioned: Salesforce, Microsoft, Activision
US futures are pointing to a slightly higher open. European equity markets have opened flat to lower, following mixed Asian levels. No change in broader narrative. Markets now in holding pattern ahead of next week's FOMC meeting, with participants increasingly looking for pause.
Companies Mentioned: Ryman Hospitality Properties, Illumina
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows mostly higher Asian markets, while European equity markets are firmer. Saudi Arabia announced a unilateral crude output cut of 1M bpd in July and flagged an extension if needed. Friday's US jobs report had little impact on Fed rate expectations. The macro data focus is on global services PMIs today.
Companies Mentioned: Microsoft, Activision, UBS Group, Credit Suisse
US futures are pointing to a higher open. European equity markets have opened with gains, following higher Asian levels. US debt ceiling legislation cleared Senate with comfortable majority. Bill will now head to Biden for signature into law. Dovish comments from Fed officials raising possibility of pause in tightening cycle, while ECB officials continue to talk up likelihood of further hikes despite positive inflation developments.
Companies Mentioned: Stratasys, 3D Systems
US futures are indicating a slightly higher open. European equity markets have opened with gains, following mixed Asian markets. Latest Fed commentary offers support for June pause, sending market-implied odds of a hike sharply lower. Markets now pricing out dovish pivot in 2023. Markets also taking positive hints from debt ceiling bill and China Caixin PMI.
Companies Mentioned: Google, Lucid Group, American Airlines, JetBlue Airways
US futures are pointing to a lower open. European equity markets have opened weaker, following negative Asian trade. US Debt ceiling remains in headlines with House set to vote on bill later. Market attention also on China PMIs, which show further deterioration in manufacturing activity with production turning negative. Data plays into increasingly negative sentiment towards China's economy.
Companies Mentioned: Twilio, Credit Suisse, UBS
US equity futures are indicating a higher open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are mostly lower. White House and GOP leaders are in a race to sell the Biden-McCarthy debt ceiling deal to their parties ahead of a potential House vote on Wednesday. China investors nervously await manufacturing PMIs tomorrow for the latest clue on China's macro development.
Companies Mentioned: Illumina, Bunge, Glencore
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are firmer. White House and Republican negotiators are closing on a deal that will raise the debt ceiling for two years. Markets are less nervous about the prospect of a default, with the frothiness out of short-dated bills as well as the US dollar.
Companies Mentioned: Paramount Global, Marvell Technology, Workday
US futures are indicating a higher open. European equity markets have opened mixed, following mostly lower Asian levels, with semiconductor and tech equipment stocks rallying in these markets following Nvidia’s positive outlook. US debt ceiling headlines leaning negative with two sides having not made meaningful progress towards a deal. While McCarthy is optimistic an agreement will be reached, markets now increasingly nervous with spread widening to 4% between T-bills maturing in early June and shorter-dated securities. Also some uncertainty around extent of additional tightening needed, even if there is pause in rates in June.
Companies Mentioned: NVIDIA, Tradeweb Markets, Illumina
US futures are pointing to a slightly lower open. European equity markets have opened weaker, following mostly negative Asian trade. Headwinds remain on US debt ceiling front as two sides have yet to make meaningful progress despite talks being characterized as "productive." Staff-level talks will continue but fundamental differences remain over proposed spending caps.
Companies Mentioned: Tegna, NVIDIA
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are mostly lower. President Biden and House Speaker McCarthy met late Monday to discuss the debt ceiling, with talks described as "productive". Flash PMIs for May headline macro releases today.
Companies Mentioned: AIG, RenaissanceRe, Yelp, Angi
US futures are pointing to a slightly lower open as of 04:05 ET. European equity markets have opened mixed in a cautious early trade, following mostly upbeat Asian markets. Hawkish remarks from Fed officials including Chair Powell have prompted markets to dial back bet on 2023 policy pivot. While June pause remains consensus, equity futures are also pricing in probability of 25bp hike.
Companies Mentioned: Micron Technology, Meta Platforms, Exxon Mobil
US futures are indicating a slightly higher open. European equity markets have opened positive, following mostly upbeat Asian markets. Hopes are rising that US debt default will be avoided, as two sides discuss scope of spending cuts and debt ceiling lift potentially into 2025. Focus today is on central banks. Fed Chair Powell will be on tap later following a busy week of Fedspeak that leaned hawkish. Central banks appear reluctant to play into rate-cut expectations.
Companies Mentioned: Apple, Microsoft
US futures are pointing to a higher open. European equity markets have opened positive as they catch up with Wall Street surge late Wednesday. Asia equites finished largely higher on US debt-ceiling deal. Equity markets buoyant on signs US debt ceiling deal could be reached by weekend. Some issues yet to be resolved and lawmakers on recess over coming weeks, leaving little time to conclude agreement.
Companies Mentioned: Snowflake, Madison Square Garden, Micron Technology
US futures are pointing to a slightly higher open. European equity markets have opened mildly negative, following mixed levels in Asia. Downbeat macro prints fueling global growth concerns. US debt ceiling impasse another overhang with two sides still far apart ahead of early June X-date. Fed officials maintaining hawkish bias despite markets pricing in dovish pivot in 2023. Yield curves stay deeply inverted, driving hard-landing concerns despite strong labor markets.
Companies Mentioned: Blackstone, Baidu
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are lower. There is more optimism surrounding US debt ceiling negotiations with key players meeting again at the White House today. China activity data missed consensus, confirming a stuttering recovery.
Companies Mentioned: Amgen, Horizon Therapeutics, Walt Disney, TSMC
US futures are pointing to a higher open. European equity markets have opened in the positive territory, following mixed to higher levels in Asia. Signs of progress in US debt ceiling impasse as President Biden, House speaker McCarthy and congressional leaders plan to meet Tuesday. Markets still pricing in dovish turn with support from falling core services inflation, while tight labor markets continue to underpin soft-landing expectations.
Companies Mentioned: Microsoft, Activision Blizzard, Shake Shack
US futures are indicating a higher open. European equity markets have opened in the positive territory, following largely lower levels in Asia. Growing concerns over US debt ceiling problem as clock ticks down to predicted 1-Jun X-date. More signs that China’s reopening momentum is losing steam with speculation about potential additional policy support continues. Tentative signs that US-China tensions are easing after Sullivan met with China's top diplomat.
Companies Mentioned: Walgreens Boots Alliance, AmerisourceBergen
US futures are pointing to a higher open. European equity markets have opened in the positive territory, following narrowly mixed to lower markets in Asia. US CPI report supports expectations of Fed pause in June. Moderation of pricing pressures in certain categories also leads market to price in greater probability of dovish pivot beginning in July. Focus in Europe is on today's BoE rate decision.
Companies Mentioned: Citigroup, Blackstone, Walt Disney
US equity futures are indicating a lower open as of 05:00 ET. This follows weakness in Asia, while European equity markets are lower. Markets await the April US CPI report today. Debt ceiling negotiations remain in stalemate. Geopolitical tensions between China and several western capitals are deepening on several fronts.
Companies Mentioned: Syneos Health, Livent, Allkem, Entegris, Fujifilm
US futures are pointing to a slightly lower open. European equity markets have opened negative, following mixed performance in Asia. US banking turmoil impacting real economy with Fed survey showing bank lending standards tightened while credit demand weakened across residential real estate. Strong labor market and consumer resilience also supporting soft-landing expectations.
Companies Mentioned: Google, New York Times
US futures are indicating a slightly higher open. European equity markets have opened positive, following mostly higher levels in Asia. Markets wrestling with competing narratives. While inverted yield curves continue to signal risk of recession, resilient labor market remains key component of soft-landing scenario. Markets pricing in steady rates in June and 38% chance for cut as soon as July.
Companies Mentioned: Meta Platforms, Estée Lauder
US futures are pointing to a slightly higher open, rebounding on Apple’s upbeat iPhone sales. European equity markets have opened with gains, following mixed Asian levels. Fed data shows big drop in bank borrowing from emergency lending facilities in latest week. Near-term focus also on US April nonfarm payrolls, which are expected to show moderation in headline jobs growth and uptick in unemployment rate.
Companies Mentioned: Apple, Google, Alibaba
US equity futures are indicating a broadly flat open as of 05:00 ET. This follows mixed Asian markets, while European equity markets are lower. Central bank policy is in focus, with the ECB set to step down the pace of its tightening cycle with a rate hike of 25 bps tipped for today's policy decision, after the Fed hiked rates yesterday by 25 bp as expected. Regional bank weakness continues with PacWest Bancorp down sharply after-hours yesterday following reports it is evaluating options.
Companies Mentioned: PacWest Bancorp, Western Alliance, Zions Bancorporation, Comerica, Apollo Global, Arconic, Qualcomm
US futures are indicating a slightly higher open. European equity markets have opened positive. Asian equities traded lower on Wednesday. Market sentiment turns negative with most attention on latest turmoil in US regional banking sector. US debt ceiling issue no closer to resolution. There's also concern that Fed will maintain tightening bias at today’s meeting.
Companies Mentioned: Pfizer, Haleon, Unity Software, American Financial Group, American International Group
US futures are pointing to a slightly lower open. European equity markets have opened marginally higher, following mostly positive Asian trade. Big week for central bank updates. Markets looking ahead to Wednesday's Fed meeting. Fed set to hike rates by 25bps and signal possibility of pause thereafter. Forward commentary in focus as strategists flag potential for hawkish surprise that can trip up markets given dovish rate outlook.
Companies Mentioned: First Republic Bank, JPMorgan, Morgan Stanley, UnitedHealth Group
US equity futures are indicating a slightly lower open as of 05:00 ET, with most markets around the world closed. JPMorgan Chase will acquire all of the deposits and most of the assets of First Republic Bank. China's manufacturing sectorunexpectedly slipped back into contraction in April. Markets are in waiting mode ahead of central bank meetings this week, headlined by the Fed on Wednesday.
Companies Mentioned: JPMorgan Chase, First Republic Bank, Iveric Bio, Astellas Pharma
US futures are pointing to a slightly lower open. European equity markets have opened mixed to lower as they catch up with the overnight action on Wall Street. Asia equities advanced on Friday. BOJ dominating headlines after leaving policy unchanged as expected. Attention also on mixed set of US tech earnings afterhours.
Companies Mentioned: Intel, Amazon, Snap Inc, First Republic Bank, JPMorgan
US equity futures are indicating a higher open as of 05:00 ET, aided by Meta's after-hours earnings beat. This follows mostly firmer Asian markets, while European equity markets are higher, with earnings the main influence. China industrial profits shrank at a smaller pace in March. The macro focus today will be on US Q1 GDP.
Companies Mentioned: Meta Platforms, Johnson & Johnson, Samsung Electronics
US futures are indicating a higher open after closing sharply lower on Tuesday with MSFT up ~8% afterhours following earnings beat and positive commentary on AI. European equity markets have opened negative, following mixed trade in Asia. First Republic Bank’s larger-than-expected deposit outflow in March continues to reverberate with KBW regional banking index down 4%. Situation is driving renewed discussions about banking sector stress. US recession fears also resurfacing after the consumer confidence hit a nine-month low.
Companies Mentioned: First Republic Bank, Carrier Global, Tencent
US futures are pointing to a lower open. European equity markets have opened with losses, following mostly negative performance in Asia. No major catalysts for market today. Focus remains on looming risk events. FOMC still in spotlight with Fed on track for another 25bp hike at May meeting. ECB officials also push for more tightening, with 50bp hike still on table next week.
Companies Mentioned: Alibaba, Netflix
US futures are indicating a lower open. European equity markets have opened with losses, following mixed sessions in Asia. Longstanding themes remain in focus with markets continuing to digest risk of recession from inverted yield curves, though mitigating banking stress and reduction in stock and bond market volatility has helped sentiment. Markets now fully pricing in 25bp hike in May, while chances of a dovish pivot later in 2023 are all but extinguished.
Companies Mentioned: Paramount Global, PacWest Bancorp, First Citizen Bancshares, SVB
US futures are pointing to a lower open. European equity markets have opened in the negative territory, following Asia’s weak performance. Risk assets losing steam after poor US data and another round of hawkish Fedspeak. April Philly Fed manufacturing index contracted more than expected while continuing claims hit highest level since November, suggesting rate hikes started to bite in economy.
Companies Mentioned: T-Mobile, Hasbro
US futures are indicating a lower open amid Tesla loss. European equity markets have opened lower, after Asian markets finished down. Global sentiment damaged by high UK headline and core inflation. Rate decision an overhang on US risk sentiment. Focus in Europe on ECB Minutes and German PPI, which may be a welcome development for ECB policymakers.
Companies Mentioned: Tesla, Nordstrom, Google
US equity futures are indicating a lower open as of 05:00 ET. This follows a mixed performance in Asia, while European equity markets are mostly lower. Netflix recouped after-hours losses in the wake of its Q1 subscriber miss. UK inflation came in higher than expected, which has strengthened Bank of England rate hike expectations.
Companies Mentioned: Netflix, Intuitive Surgical, United Airlines
US futures are pointing to a marginally higher open. European equity markets have opened positive, following lower levels in Asia. There’s attention on disconnect between markets pricing in dovish pivot this year and Fed continuing its higher-for-longer narrative. RBA members debate another 25bp hike. China Q1 GDP growth stronger than forecast.
Companies Mentioned: BELLUS Health Inc, GSK, Alibaba, Ant Group
US futures are indicating a slightly higher open. European equity markets have opened positive, following a mostly strong performance in Asia. Cautious start to this week given the influential Chinese growth update and global PMIs. Fed officials still push the higher-for-longer narrative. Focus in Europe stays on ECB, with markets pricing in 46% chance of 50bp hike on May 4.
Companies Mentioned: Prometheus Biosciences, Merck, Amazon, Google
US futures are indicating a slightly lower open. European equity markets have opened with modest gains, following positive Asian trade. Lower-than-expected US CPI and PPI results are lending support to disinflation traction and expectation that Fed will cap rate hikes next month. More signs that US banking sector is stabilizing. Deposit dynamic will be focus of big banks' earnings calls.
Companies Mentioned: Boeing, Wells Fargo
US equity futures are indicating a slightly higher open as of 05:00 ET. European equity markets are firmer, following mostly softer levels in Asia, where markets shrugged off unexpectedly strong Chinese exports. FOMC minutes reiterated the need for data dependence and policy flexibility. March US CPI was cooler-than-expected, but there was not enough in the data to shift expectations away from a final Fed rate hike in May.
Companies Mentioned: Alibaba, SoftBank, Apple
US futures are indicating a higher open. European equity markets have opened positive territory, following mixed to higher levels in Asia. US CPI in focus. March FOMC minutes also expected to provide color on policymaker’s view for rate outlook. Markets are pricing in final 25bp Fed rate hike in May, before dovish pivot later in 2023.
Companies Mentioned: National Instruments, Emerson Electric, Fortive, TSMC
US futures are pointing to a higher open. European equity markets have opened in the positive territory, following mostly higher levels in Asia. Market focus remains on recession signaling from deeply inverted yield curves, collapsing money supply growth, and tightening bank lending standards. Fed is expected to hike again in May, but markets still price in rate cuts by year-end.
Companies Mentioned: Boeing, Playtika
US equity futures are indicating a broadly flat open as of 05:00 ET. Asian equity markets were mostly higher, while European equity markets are closed for Easter Monday. The US labor market is seen as strong enough to justify a 25 bp rate hike next month, following Friday's US employment data. CPI data out this week is expected to show inflation remained elevated in March. China launched military drills around Taiwan in response to President Tsai Ing-wen's meeting with US lawmakers.
Companies Mentioned: Exxon Mobil, Pioneer Natural Resources, Walt Disney
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are firmer, following mixed markets in Asia. Markets are treading water after sentiment turned mixed in recent sessions. The next set of catalysts include Friday's payroll data and CPI next Wednesday. Central bank commentary continues to lean hawkish for now.
Companies Mentioned: Costco, Lumentum Holdings
US equity futures are indicating a slightly lower open as of 05:00 ET. European equity markets are mixed, following a mixed session in Asia. Japan finished notably lower on Wednesday while markets in China were closed.
Companies Mentioned: Brookfield, EQT, China Everbright
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are firmer, following mixed markets in Asia. Oil is extending recent gains with WTI crude above $81/bbl. There are limited catalysts in this holiday-shortened week. The Fed is expected to hike rates by another 25bp next month if stability in the banking sector continues to hold.
Companies Mentioned: Merck, Bayer, AMC Entertainment
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are firmer, following mixed markets in Asia. Oil is dominating the headlines after OPEC+ made the surprise decision to cut daily crude output by more than 1M barrels. A stabilization in the global banking sector and bond markets has been attributed to the recent rebound in equities and risk assets.
Companies Mentioned: World Wrestling Entertainment, Endeavor Group, Apellis Pharmaceuticals, McDonald's, Baidu
US futures are indicating a higher open. European equity markets have opened in the positive territory, following mostly higher levels in Asia. No change in broader narrative as markets continue to benefit from banking sector stabilization and prospects for Fed pivot. Latest Fedspeak has leaned hawkish. Debate revolving around how much banking turmoil equates to in terms of effective rate hikes. Official worries policy tweaks could damage Fed’s credibility.
Companies Mentioned: Netflix, JD.com
US futures are pointing to a higher open. European equity markets have opened positive, following mixed performance in Asia. Equity market is underpinned by rate-driven rally in growth stocks. But concerns of another wave of deposit outflows remain, amid drag on economic growth from tightened lending standards.
Companies Mentioned: Meta, Alibaba, Concentrix
US futures are indicating a higher open. European equity markets have opened in the positive territory, following mostly higher levels in Asia. Risk appetite continues to benefit from stabilization in banking sector. Fed balance sheet re-expansion, policy pivot expectations are also supporting risk assets. Still, there are lingering concerns over hard-landing scenario. Alibaba news also brings bright spot for markets.
Companies Mentioned: Alibaba, Cardinal Health, Medical Properties Trust, HMC Capital
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are firmer, yet off best levels, following mostly firmer levels in Asia. Risk appetite remains positive. While a deepening inversion of yield curves is influencing discussions about a harder economic landing, economic headwinds are also fueling expectations of an aggressive Fed pivot in H2.
Companies Mentioned: Mastercard, Visa, Google
US futures are pointing to a higher open. European equity markets have opened positive after Friday's deep losses and following mixed levels in Asia. Some encouragement for broader sentiment coming from news that First Citizens BancShares has agreed to buy Silicon Valley Bank from FDIC, terms undisclosed. Market uncertainties remain high in the wake of banking sector turmoil, with latest concerns about credit default swaps in Europe, mainly focused on Deutsche Bank.
Companies Mentioned: First Citizens BancShares, SVB Financial Group, Deutsche Bank, Berkshire Grey, SoftBank, JetBlue Airways, Spirit Airlines
US futures are pointing to a slightly higher open. European equity markets have opened negative, following mostly lower levels in Asia. Markets continue to digest banking sector developments and implications for central bank policy after updates this week. Futures market is pricing in no Fed rate hike for May and rate cut in July, but there are concerns that Fed won't pivot as easily with inflation too high still and labor market tight.
Companies Mentioned: SVB Financial Group, Customers Bancorp, Citizens Financial Group, Excelerate Energy
US futures are pointing to a higher open. European equity markets have opened lower, following mixed Asian trade. Initial takeaways from March FOMC meeting note tone of statement could signal potentially earlier end to Fed's tightening cycle. Also attention on Fed dialing back its commitment to further rate hikes, as Chair Powell noted bank officials weighed a pause at Wednesday's meeting. Concerns remain over banking crisis after Yellen said not working on unilateral extension of deposit insurance.
Companies Mentioned: SVB Financial Group, Ryanair, Boeing, Tencent
US futures are indicating a lower open. European equity markets have opened weaker after two sessions of higher levels. Asian markets have finished strong. Ahead of today’s Fed meeting, consensus is for 25bp hike, with speculation of possible tweaks to balance-sheet policy amid credit crunch. Chair Powell's press conference is expected to acknowledge uncertainties in banking sector, though he will likely continue to stress more work needs to be done on inflation.
Companies Mentioned: First Republic Bank, Manchester United, Virgin Orbit Holdings
US futures are indicating a positive open after finishing higher in Monday trade. European equity markets have opened firmer, following broad strength in Asia. Focus remains on banking sector turmoil. US is studying ways to guarantee all deposits without Congressional approval if situation worsens. Market is digesting implications for monetary policy. Strategists flag concerns about harder economic landing, driven by pullback in lending amid tightening of financial conditions. Wednesday's Fed meeting is consequential, with markets pricing in a 25bp rate hike.
Companies Mentioned: UBS, Credit Suisse, First Republic Bank, Baxter International
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following broad weakness in Asia. Markets are digesting more banking sector developments on the weekend, as UBS agreed to acquire Credit Suisse for $3.25B in a government-brokered deal. Congress is facing calls to authorize the guarantee of all uninsured deposits. Central banks announced measures to improve US dollar liquidity.
Companies Mentioned: Credit Suisse, UBS, Signature Bank, New York Community Bankcorp, First Republic Bank, SVB Financial Group
US futures are pointing to a higher open. European equity markets have opened positive , following higher levels in Asia. Banking turmoil remains big driver behind market volatility, and has driven a pickup in hard-landing concerns. There’s also view that tighter financial conditions will remove pressure on Fed. Consensus is a final 25bp Fed rate hike next week, with possibility of rate cuts beginning this summer.
Companies Mentioned: First Republic Bank, Silicon Valley Bank, Credit Suisse, UBS, Amgen, Okta, PayPal
US futures are pointing to a higher open. Asian equity markets have finished weak. European equity markets have opened positive as confidence returns with Credit Suisse surviving market turmoil. US banks have managed their Credit Suisse exposure. Takeaway is potentially earlier end to global central bank tightening cycle, with ECB set to announce rate decision today.
Companies Mentioned: Credit Suisse, First Republic Bank, Silicon Valley bank, Signature Bank
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are lower, following broad strength in Asia. Mixed US February CPI data did little to shift market expectations surrounding the Fed rate outlook. Deposit flight concerns continue to get a lot of attention. China activity data was mixed, with signs of a turnaround in real estate.
Companies Mentioned: Goldman Sachs, SVB Financial Group, Charles Schwab
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mostly firmer, following a sharp selloff in Asian equity markets, where major financials were under pressure like price action seen in European markets on Monday. The market's attention remains on the spillover effects from SVB's collapse amid turmoil in banking stocks, and as the fallout leads to a rapid repricing of monetary policy expectations. US CPI is due later today, and is forecast to show y/y moderation in headline and core reads, although previews have flagged upside risk.
Companies Mentioned: Momentive Global, SVB Financial Group
US futures are pointing to a higher open, extending the rally after the regulators announced rescue plan for Silicon Valley Bank depositors. European equity markets have opened with losses, following mixed Asian trade. Joint statement by Fed, FDIC and Treasury notes all SVB depositors will have full access to their funds from today. The Fed will also make additional funding available to banks to safeguard deposit. A 25bp increase in March is now the consensus with lower terminal rate forecasts.
Companies Mentioned: SVB Financial Group, HSBC, Meta Platforms, Illumina, Qualtrics
US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened with losses, following sharply lower levels in Asia. Fed terminal rate expectations continue to rise higher with markets now pricing in peak of 5.5-5.75%. A 50bp March rate hike is now the consensus, though it might take a significant NFP miss to shift forecast back down to 25bp.
Companies Mentioned: SVB Financial Group, Tesla, Stratasys, Nano Dimension
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following a mixed performance in Asia. The Fed continues to get all of the attention, as Powell's message tweak at the House Committee hearing did not meaningfully shift market expectations of a 50 bp rate hike in March. Bonds remain under pressure with the 2/10Y Treasury yield spread the most inverted since 1981. China CPI inflation shrank by more than expected, while PPI deflation deepened.
Companies Mentioned: Uber, Apple, Silvergate Capital
US futures are pointing to a slightly higher open but mostly hovering around the flatline as of 04:05 ET. European equities markets have had a weak open, following mostly lower levels in Asia. Hawkish Powell testimony continues to impact markets with 50bp rate hike in March now the market consensus, and analysts are dialing up peak rates forecasts. February payrolls due Friday and CPI due next Tuesday will go a long way in determining whether Fed steps up pace of tightening.
Companies Mentioned: WeWork, SoftBank, Silvergate Capital
US futures are pointing to a slightly higher open as of 04:05 ET. European equities markets have opened flat, following mostly higher levels in Asia. Market participants are waiting for Fed Chair Powell's monetary testimony to Congress today, at which he is expected to reiterate more work is needed on rates. No change to market narrative with recent higher-for-longer message from the Fed officials.
Companies Mentioned: Meta Platforms, Black Knight, Intercontinental, WW International
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are firmer, following mostly higher levels in Asia. Equity market sentiment remains upbeat despite the recent Fed rate repricing. Early China National People's Congress takeaways noted disappointment over the conservative GDP growth target. President Biden is close to signing an executive order restricting US investment in China's high-tech sector.
Companies Mentioned: Tesla, Walt Disney
US futures are indication a slightly higher open as of 04:05 ET. European equities markets have opened with modest gains as they catch up with the higher US closing move. Asian markets ended largely positive. No change in broader market narrative. Focus remains on central bank policy, as the latest Fedspeak is increasingly indicating support for raising terminal rate with Waller and Bostic open to revising peak rate beyond the current projection.
Companies Mentioned: Walmart, Boeing
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are weaker, following mixed Asian trade. Markets continue to weigh the ongoing rise in peak rate forecasts, with the swaps market now pricing in peak US rates at 5.50-5.75%. China PMIs suggest that the economy is rebounding quicker than top Chinese officials had expected. Eurozone inflation data headlines today's macro releases.
Companies Mentioned: Bristol Myers Squibb, Salesforce
US futures are pointing to a higher open as of 04:05 ET. European equities markets have opened in the positive territory, following largely higher Asian trade. No change in broader market narrative with string of strong macro prints in recent weeks denting disinflation narrative, which has been accompanied by more hawkish central bank commentary. Markets now pricing in more policy tightening, while continued yield curve inversions heighten risk of a policy mistake.
Companies Mentioned: Apollo, Arconic, General Motors
US futures are indicating a slightly lower open as of 04:05 ET. European equities markets have had a weak start after early strength in its futures contracts on the Brexit deal. Asian markets ended the day mixed. While equity market sentiment improved in prior session, investors remain cautious amid increased wariness over further central bank rate hikes. Most focus has been on Fed and expectations for higher terminal rate.
Companies Mentioned: Tesla, Broadcom, VMware, Baytex Energy, Ranger Oil
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following broad weakness in Asia. Markets continue to digest the hawkish repricing of the Fed rate path and futures also pricing in high terminal rates elsewhere. ECB President Lagarde says that core inflation and wage negotiations remain under scrutiny. President Biden says that he does not think China will send weapons to Russia to aid its military campaign in Ukraine.
Companies Mentioned: Pfizer, Seagen, Pioneer Natural Resources, Range Resources
US futures are indicating a lower open as of 04:05am ET. European equities markets have opened with modest gains, following mixed performance in Asia. As worries about a Fed policy mistake grow, market sentiment overall has been dampened along with earnings risks and recession fears. Focus is also on positive macro surprise momentum and accompanying support for soft landing or no landing at all scenarios.
Companies Mentioned: Boeing, Adobe
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mixed, following a mixed performance in Asia, supported by tech sharesfollowing Nvidia's earnings beat. Bond markets are volatile amid a big backup in yields attributed to renewed concerns over inflation and a more aggressive Fed. US-China tensions remain in focus after Moscow and Beijing vowed to deepen ties, and the Pentagon warned ofconsequences if China provides lethal aid to Russia.
Companies Mentioned: Google, Nvidia
US futures are pointing to a marginally higher open as of 04:05am ET. European equities markets have opened with losses, following weak performance in Asia. Markets are returning to the 'good news is bad news' interpretation of better-than-expected flash global PMIs, especially in the US. This has led to a slide in bond prices on expectations of higher-for-longer rates, and a selloff in equities, especially on the Nasdaq.
Companies Mentioned: Wells Fargo, 1Life Healthcare, Amazon
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mostly weaker, following a mixed performance in Asia. Risk appetite is weak, following Monday's North American market closures. The main focus remains on central bank tightening plans, as futures now price in three more Fed rate increases with risks skewed to the upside. Flash PMI data is likely to be the macro focus today.
Companies Mentioned: Tesla, Sigma Lithium, Meta Platforms
US futures are indicating a lower open as of 04:05am ET. European equities markets have opened sharply down, following broad weakness in Asia. Markets are in risk-off mode following comments from Fed officials indicating support for further 50bp rate hikes. Developments have driven markets expectations towards a steeper rate path beyond Fed's projected peak from December.
Companies Mentioned: General Motors, Life Storage, Public Storage
US futures are pointing to a higher open as of 04:05am ET. European equities markets have opened with gains, following broad strength in Asia. Equity market sentiment remains positive, concentrating on a positive interpretation of stronger-than-expected retail sales as beneficial for US economy, rather than a negative one that says strong consumer sentiment could keep Fed rates higher for longer.
Companies Mentioned: Tesla, Apple
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mostly firmer, following broad weakness in Asia, where markets were in risk-off mode following US CPI data, with the Hang Seng leading losses in the region. The early macro focus in Europe is on UK inflation data, with headline inflation softer than expected in January. The US economic calendar is in focus again today with retail sales the highlight.
Companies Mentioned: Emergent BioSolutions, Bavarian Nordic, Ford Motor, CATL
US futures are indicating a slightly higher open as of 04:05am ET. European equities markets have opened mostly higher, following mixed trading in Asia. US CPI result is in focus today with consensus looking for m/m pickup in headline and core inflation. The expected inflation rebound is attributed to higher energy prices and weaker drag from core goods.
Companies Mentioned: Apple, Amazon
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are firmer, following a mostly lower performance in Asia as investors grapple with the BOJ's choice of new governor. The main focus this week may be US CPI. Geopolitical posturing continues as the US shot down a fourth object in little more than a week.
Companies Mentioned: Fidelity National Information Services, Meta Platforms
US futures are pointing to a slightly higher open as of 04:05 ET. European equities markets have opened lower, following broad losses in Asia. Market sentiment is undermined by a string of hawkish central bank comments from more Fed officials and ECB members. Most of ECB commentary has reinforced likelihood of at least one more rate hike after March. US-China tensions set to notch higher as White House prepares rules to restrict American investment in China.
Companies Mentioned: Black Knight, Intercontinental Exchange, Berkshire Grey, SoftBank
US futures are pointing to a higher open. European equities markets have opened with gains, following mixed Asian trade. Increased volatility in US is underlined by uncertainty over Fed's message on future rates, and between whether central banks globally will hike rates to their peaks soon before cutting later in the year, or continue to raise rates to a higher-than-currently-expected terminal rate, and hold them there for some time. Fedspeak continues to lean hawkish with officials stressing more effort is needed to tame the 'excessive' inflation and high wage growth.
Companies Mentioned: Abbott Labs, Cardiovascular Systems, Salesforce, Sumo Logic
US futures are indicating a lower open. European equities markets have opened with gains as the benchmarks catch up with the overnight US action. Asian markets ended mixed. Markets welcome the comments from Fed Chair Powell, which align with post-FOMC press conference. The comments suggest that the Fed's policy calculus has not really changed following the stronger-than-expected jobs report. Analysts find the comments mildly hawkish.
Companies Mentioned: Microsoft, Google, Activision Blizzard, Sony, Apple
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mixed Asian trade. Markets are awaiting Fed Chair Powell's remarks later today. The yen is trading above its one-month low against the dollar.
Companies Mentioned: CVS Health, Oak Street Health, Baidu
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following broad weakness in Asia, where tech stocks were under pressure. Markets continue to digest the implications of Friday's hot US payrolls report, with bonds and risk assets weakening as a result. A US military fighter jet shot down a suspected Chinese spy balloon over the weekend.
Companies Mentioned: Newmont, Newcrest Mining, Public Storage, Life Storage, Danaher, Catalent
US futures are indicating a lower open with Nasdaq sharply down, after big tech names such as Apple, Amazon and Google reported underwhelming earnings and guidance. European equities markets have opened lower, following mixed Asia trade. US NFP result is expected to show weakest monthly job gain since Dec-2020. Unemployment rate is forecast to tick up and no change to average hourly earnings. The print may support soft-landing narrative and expectations that Fed is close to end of its tightening cycle.
Companies Mentioned: Nordstrom, FirstEnergy, Brookfield, Carlyle Group
US futures are indicating a higher open. European equities markets have opened higher as the region catches up with market action in the US, following a mixed performance in Asia. Dichotomy between the Fedspeak and markets has widened overnight, following the Fed’s move to raise rates by 25bps as expected, and Chair Powell’s clearly indication that it would not be the last hike in this cycle and no cuts would be considered this year. Nevertheless, Fed Fund futures have now priced in 50bps of rate cuts by year end.
Companies Mentioned: Citi Group
US futures are indicating a slightly lower open. European equities markets have opened slightly higher as the region catches up with the strong US close, following mostly higher levels in Asia. Fed is widely expected to slow pace of rate hikes to 25 bps. Previews are hinting at only minor tweaks to the policy statement, reiterating more tightening will be appropriate.
Companies Mentioned: Snap Inc, Visa, Paypal
US futures are indicating a slightly lower open as of 04:05 ET after a sharply higher close yesterday. European equity markets have opened with gains, following higher levels in Asia. Fed Chair Powell said the moderating pace of rate hikes may come as soon as this month, confirming to markets what they had already priced in over the past two weeks. He later added that the bank did not want to over-tighten. Economic prints are also supportive of dovish comments with Europe, Asia and US data indicative of slowing growth and easing inflation.
Companies Mentioned: Byline Bancorp, Arco Platform
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mostly higher levels in Asia. Fed Chair Powell will speak today, following a flurry of Fedspeak deemed to be on the hawkish side recently. Among today's key data releases are US ADP, JOLTS, GDP and Chicago PMI. China market sentiment has improved following early week volatility.
Companies Mentioned: Horizon Therapeutics, Amgen, Johnson & Johnson, Sanofi, Airbnb
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following broad strength in Asia. European markets are benefiting from weaker German state CPI and softer Spanish inflation data. Fed officials also pushed back against market bets for rate cuts in 2023 on Monday. China said it will boost vaccine rates among the elderly in a move regarded as crucial before a full reopening.
Companies Mentioned: Sony, Apple, Walt Disney
US futures are indicating a lower open as of 04:05 ET. European equity markets have opened lower, following broad weakness in Asia. Developments in China are dominating headlines. Beijing's zero-Covid policy and lockdowns have triggered civil unrest in multiple Chinese cities. The government has yet to publicly respond but the situation adds another layer of uncertainty to China's Covid restrictions with some debate it may accelerate reopening plans.
Companies Mentioned: Amazon, Apple, Foxconn (Hon Hai), T. Rowe Price, News Corp, Fox
US futures are indicating a higher open as of 4:05 ET. European equity markets have opened mixed to higher, following lower levels in Asia. Central bank speak from ECB and BoE backs the expectations for further rate tightening. Markets are still anticipating a move towards a more moderate pace as the economic contraction gains momentum but positive signs in Eurozone that the economic downturn may be milder than feared have dampened those expectations.
Companies Mentioned: Apple, Foxconn (Hon Hai), Microsoft, Salesforce
US futures are pointing to a slightly lower open as of 4:05 ET ahead of Fed minutes and flash PMIs. European equity markets have opened mixed to lower but are now edging higher, following higher levels in Asia. PMI results from the US and Europe are influencing the macro narrative in markets, with investors anticipating an economic contraction in Q4 and early next year. Other influence will come from the central bank side with FOMC minutes due to be released and likely to reflect a shift towards moderating the pace of rate hikes.
Companies Mentioned: Foxconn (Hon Hai), Manchester United
US futures are pointing to a slightly lower open as of 4:05 ET. European equity markets have started a tad weaker but are now climbing, following a second slow and lackluster day's trading in Asia. Fed's Mester has mentioned the possibility of slowing down from a 75bps jumbo hike at next meeting. ECB's Holzmann is pushing for a potential 75bps hike in December if inflation does not moderate, but chief economist Lane seems to advocate foundations for a smaller hike.
Companies Mentioned: GameStop, Norfolk Southern
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following mostly weaker levels in Asia. Early attention is on China Covid developments and its implications for the growth outlook as the outbreak continues to widen. Attention remains on central bank policy as Atlanta Fed's Bostic said on Saturday that he favors slowing the pace of rate hikes and sees 75-100 bps of additional tightening.
Companies Mentioned: Bristol Myers Squibb, UnitedHealth, News Corp, Fox Corp
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mixed Asian trade. Fed officials continue to talk tough on rates. Investors in Europe continue to digest yesterday's UK budget. China Covid developments are still negative,with daily infections hitting an outbreak high of ~25K.
Companies Mentioned: Amazon, Palo Alto Networks
US futures are pointing to a positive open as of 4:05 ET. European equity markets have started higher, following mostly lower levels in Asia. Wednesday’s stronger-than-expected US retail sales data has dampened the pivot narrative. Fed's George is the latest to call for a slower pace of rate hikes, but Daly has said that pausing is off the table. ECB still appears to be willing to take a few more hikes, BoE has also signaled the likelihood of more rate hikes, while G20 has pledged to calibrate the pace of monetary tightening amid spillover risks.
Companies Mentioned: Tesla, Blizzard, NetEase
US futures are indicating another solid opening as of 4:05 ET. European equity markets have started mostly in the positive territory, following higher Asian trade. Markets are still taking encouragement from last week’s softer US inflation data, which is giving traction to the peak inflation narrative and expectations for a possible lower Fed rate hike in December. However, central bankers including Fed official have largely pushed against notion of pivot. ECB members and SNB are talking up the likelihood of further rate hikes.
Companies Mentioned: Estée Lauder, Kering, Credit Suisse, Apollo, TSMC
US futures are pointing to a lower open as of 4:15 ET. European equity markets have started with a small gain, following mixed Asian trade. Fed Governor Waller has reiterated that there’s still a long way to go before concluding rate hikes, adding rates will stay high until inflation is closer to the 2% target. Fed officials are maintaining the notion of inflation staying higher for longer. Elsewhere, China announced a property sector rescue package, and President Biden will meet with China's Xi in Bali today.
Companies Mentioned: Luther Burbank, Washington Federal, Walt Disney, Chevron, Softbank
US futures are pointing to a higher open as of 4:15 ET. European equity markets have started in the positive territory, following higher Asian trade. The cooler-than-expected US CPI result has sent ripples across markets, fueling expectations for lower Fed terminal rate forecasts now that there’s downshift room. The second driver for the markets today is the news that Beijing will ease visitor quarantine restrictions and end flight bans.
Companies Mentioned: Booking
US futures are indicating a higher open as of 4:15 ET. European equity markets have started mostly in negative territory, following lower Asian trade. The US CPI data is in focus. Markets are already in risk-off mode, following a few sell-offs this year in the wake of hotter-than-expected inflation prints. The data comes as Fed officials increasingly give support for slowing the pace of tightening.
Companies Mentioned: CBRE Group, Sonoco Products, Westrock, Amazon
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are weaker, following mixed Asian trade. US midterm elections are in focus, with the GOP on track to win the House, although there are few signs of a 'red wave', with the Senate a toss-up. China PPI fell into deflation for the first time in almost two years. China Covid infections continue to climb.
Companies Mentioned: Tesla, Walt Disney
US futures are indicating a lower open as of 4:15 ET. European equity markets have started mostly in negative territory, following mixed Asian trade. In the absence of other leads, macro focus today is on the US midterm elections for markets. Polls suggest that Republicans will likely take both the Senate and the House. Some attention is also on banking stocks in Europe after the ECB's top supervisor said it is carefully scrutinizing payout plans, while the ECB Vice President earlier vowed to continue to hike rates to ensure inflation gets back to target.
Companies Mentioned: American Tower, IHS Holding, Helios Towers, Ooredoo, NorthView Acquisition
US futures are indicating a lower open. European equity markets have had a mixed start, following mostly positive performance in Asia. The market is in for a choppy start after China health officials on Saturday reiterated the intent to maintain the current Covid Zero strategy as daily infections hover near the highest level since early May. Companies Mentioned: Apple, Meta Platforms, Activision Blizzard, Microsoft, Walgreens Boots Alliance, Summit Health, Exxon Mobil
US futures are indicating a higher open. European equity markets have opened in the positive territory, following a choppy session in Asia that ended with a mostly higher performance. A few surprises came from RBA's Statement on Monetary Policy, which showed that inflation is projected to remain above target band with a tightening cycle extending further into 2023. Similar comments came from Norway’s central bank. ECB officials also said that rates must rise further with inflation remaining too high, and that 1Q23 to be optimal for QT to start, while the BOE issued a notably downbeat statement. Companies Mentioned: Apple, PayPal, General Mills, Audi, Mondelez, Pfizer
US futures are indicating a slightly lower open. European equities are weaker, with Asian markets mostly down following a sharply lower US close after the Fed's 75bps rate-hike decision yesterday. Chair Powell's hawkish press conference has marked the latest pushback against hopes for a central bank policy pivot that had supported markets in recent weeks. While officials have signaled a slower pace of tightening, higher peak rate forecasts are feeding into the notion of a smoother, but more elongated tightening cycle stretching further in 2023. Companies Mentioned: Adobe, Marathon Oil, Lumen Technologies
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mixed Asian trade. Attention today is on the FOMC policy decision, with the Fed widely expected to hike by 75 bp. Hong Kong and China stocks surged on hopes Covid restrictions would be eased. Companies Mentioned: DuPont de Nemours, Rogers, CVS Health, Walmart, Walgreens Boots Alliance
US futures are indicating a higher open. European equity markets have opened in the positive territory, following a strong performance in Asia. There is no change in the broader market narrative, with market participants still eyeing the possibility of a central bank pivot given growth risks. However, while some central banks have signaled a slowdown in their pace of tightening, the peak rate forecasts have been upgraded with inflation still too high. Strategists are converging on the view that the global rate hike cycle will end in early 2023 amid potential flexibility on inflation targets. Companies Mentioned: Microsoft, Activision Blizzard, Apple, Pegatron, Luxshare Precision, Hon Hai Precision Industry, Tesla
US futures are indicating a slightly lower open. European equity markets have opened softer, following mostly positive performance in Asia. Market participants are evaluating the potential for a central bank policy pivot ahead of the key Fed meeting this week. Some ECB takeaways have noted signs of dovish hints. BoE is set for big rate increase, but could signal smaller moves later. Tuesday's RBA meeting is widely expected to deliver another 25bps rate hike. Companies Mentioned: Tesla, Glencore, Emerson Electric, Blackstone, Thermo Fisher Scientific
US futures are indicating a lower open, with Amazon down after guiding slower sales growth as consumer spending wears out. The EU non-food retailers are also under pressure following Amazon’s poor outlook. European equity markets have opened lower, following weaker performance in Asia. The focus now centers on next week's FOMC meeting and whether policymakers will signal a step-down in the pace of rate hikes beyond November. In the meantime, disappointing results from the US tech giants are supporting the notion that the recession concerns are taking precedence over monetary policy concerns. Companies Mentioned: Amazon, Twitter, Tesla, Comcast, Citigroup, Grupo Financiero Inbursa, Grupo Mexico
US futures are indicating a higher open. European equity markets are mostly weaker, following broadly higher levels in Asia. Despite underwhelming US tech earnings and growing recession fears, the lower rate backdrop is underpinning market resilience. The ECB is expected to hike by 75bps at today's meeting while the market is also looking for possible hints on QT plans. Companies Mentioned: Twitter, Tesla, Credit Suisse, Apollo
US futures are indicating a lower open following poor results from Alphabet and Microsoft after hours on Tuesday. European equity markets are trading higher, following positive Asian session. While markets have benefited from less hawkish Fed headlines and lower yields, the risk of a global recession has increased, and inflation is expected to remain higher for longer. Companies Mentioned: Google, Microsoft, Amazon, Spotify, Telefonica, Liberty Global, Cornerstone
US equity futures are indicating a slightly lower open as of 05:00 ET. European equity markets are mostly firmer, following mixed Asian trade. The US is indicating no change to its stance on China following the CCP Congress. It will be a busy day of earnings ahead. Companies Mentioned: Amazon
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mostly firmer, yet off best levels. This follows mixed Asian trade, with the Hang Seng seeing sharp losses amid weakness in tech stocks. FX volatility continues, with the yen whipsawing amid speculation authorities followed up Friday's intervention with another on Monday. In the UK, former chancellor Sunak is the favorite to become prime minister after Boris Johnson pulled out of the contest. The macro focus is on flash PMI data. Companies Mentioned: Myovant, Sumitomo Pharma, Twitter
US futures are indicating a lower open as of 5AM ET. European markets moving lower following a broadly lower session in Asia. Bullish sentiment retreated amid higher yields, broad skepticism about the sustainability of the latest upside narratives, and some cautious takeaways from the latest batch of earnings. Companies mentioned: Twitter, SNAP, Veris Residential
US futures are indicating a lower open. European equity markets have opened lower, following mostly lower Asian trade. Risk appetite remains soft as are yields supported on hawkish Fedspeak by Bullard, Kashkari and Evans, suggesting rate hikes may end only in 2023. News that China is debating cuts to inbound Covid quarantine did little to support. The pullback has followed a big two-day bounce that most analysts regarded as a bear market bounce, driven by UK fiscal U-Turn, extended technical readings and positioning. Companies mentioned: Philip Morris, Swedish Match, Brookfield Asset Management, EQT, Orange
US futures are indicating a higher open, with Netflix earnings post-close adding support. European equity markets have opened higher but are now turning softer, following mixed Asian trade. Market sentiment on corporate earnings is turning from downbeat to mixed amid some optimistic takeaways. But the underlying macro narrative is still on the bearish side on recession risks, elevated inflation and Fed tightening. Fed members are reportedly settled on an around 75-bps hike in November and serious talks on a pivot are likely to be pushed back into December. Companies mentioned: Twitter, Tesla, Nestlé, Starbucks, News Corp, Fox Corp
US futures are indicating another higher open, extending Monday's sharp gains. European equity markets have opened strong, following mostly positive performance. Broad risk sentiment has been supported by the UK dynamics, as new Chancellor Hunt scrapped most of PM Truss's economic plan, and scaled back the energy support scheme, making a historic policy U-turn to try to stem dramatic loss of investor confidence. Pound supported against both US Dollar and EURO on the news. The BoE is expected to delay quantitative tightening, while the ECB's Nagel reiterated the need for the bank to continue tightening policy due to high inflation. Companies mentioned: Intel, Boeing
US futures are indicating a higher open. European equity markets have opened higher, following mixed Asian trade. Asian markets have started the week off with losses as a follow-on to the Friday US session. However European equities have held-up, on the back of US futures pointing up some 1%. Developments in the UK and ongoing inflationary pressure remain front and center. In that regard, new UK Chancellor Hunt is due to make a statement later today on measures from the medium-term fiscal plan ahead of delivering a full plan and official forecasts on 31-Oct Companies mentioned: Credit Suisse, Goldman Sachs
US futures are indicating a higher open. European equity markets have had firmer open, following positive Asian trade. Risk assets have turned positive after a big reversal in the US equity markets on Thursday. There’s no clear consensus on what drove bounce despite a higher-than-expected CPI, but some commentaries suggest technical support and short covering. Now Up to a total of 150 basis points of rate hikes are priced in for the next two Feb policy meetings. Companies Mentioned: Twitter, Tesla, Meta, Kroger, Albertsons, Schlumberger
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mostly lower, following lower Asian trade. Markets have been somewhat in a holding pattern as all eyes will be firmly fixated on the US CPI number due out later today. We’ve also had comments from Bank of England members arguing the case for continued aggressive rate increases. Companies Mentioned: Chevron, Kohl's, Toshiba, Digital World Acquisition
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are lower, following mixed Asian trade. Bank of England policy communication is under scrutiny after mixed signals on its Gilt buying program. FOMC minutes are due for publication today. Companies Mentioned: Brookfield Business Partners, Cameco, Brookfield Renewable, Intel
US futures are indicating a lower open. European equity markets are weaker as well, following broadly negative Asian trade. Yesterday's Fedspeak showed awareness of the risk of a policy mistake. But Fed's relentless raise-and-hold strategy stays the key focus, with tightening cycle and higher rates weighing on market multiples and continuing to play into the growing recession fears. ECB’s ability to hike rates is also said to be potentially compromised if the economic downturn accelerates. Companies mentioned: Nektar, PureTech Health, Coinbase
US futures are indicating a lower open. European equity markets have opened weaker, following negative Asian trade. Asian markets have started the week off with losses as a follow-on to the Friday US session. The losses have continued into the European session, notwithstanding the Bank of England announcing additional measures to support Gilts and ease liquidity issues. Attention has also remained on Ukraine developments after the Kerch bridge from Russia to Crimea was hit by a massive explosion on the span that carries railway traffic. Companies mentioned: Renault, Nissan, Tat Motors
US futures are indicating a slightly lower open. European equity markets have opened weaker, following mostly negative Asian trade. There is some skepticism about the sustainability of the recent market bounce given Fed shows no signs of deviating from the raise-and-hold strategy and continues to push back against pivot hopes. This is sending dollar and bond yields on an upward path, contributing to the tightest financial conditions since the pandemic crash and heightening concerns about market stability. Companies mentioned: Twitter, Tesla, PepsiCo, DraftKings, Walt Disney, Caesars Entertainment
US futures are indicating a lower open. European equity markets have opened higher, following mostly higher Asian trade. The early week rally has been pinned on hopes for a central bank pivot following the RBA's smaller-than-expected hike and signs of cooling in US labor market activity. However, the pivot narrative faces increasing scrutiny after Fed officials reinforced hawkish messaging and warned against expectations of a rate cut. Outsized OPEC+ production cut also complicate the 'peak inflation' narrative with strategists revising up crude price targets Companies mentioned: Google, Compass, BrightSphere, Generali
US futures are indicating a lower open. European equity markets have opened lower, following higher Asian trade. Markets continue to digest the possibility of a central bank pivot as growth concerns and financial stability risk take on a renewed focus. The catalyst was yesterday's smaller-than-forecast Reserve Bank of Australia hike, but the Reserve Bank of New Zealand raised rates by 50-bps overnight, discussed a 75-bp move, and gave no sign of a pivot Companies mentioned: Amazon, Uber
US futures are indicating a higher open. European equity markets have opened higher, following higher Asian trade. Overseas markets followed on from the strong US session on Monday, with most indices posting strong gains for the day. Australian markets were also buoyed by the Reserve Bank of Australia raising interest rates by 25bp, lower than the expected 50bp. There were also reports of North Korea firing a missile towards northeastern Japan, but even that could not dampen investor sentiment. Companies mentioned: Twitter, Naver, Poshmark, SciPlay, Light & Wonder
US futures are mixed with S&P futures indicating a slightly lower open . Asian markets were mostly lower, though Japan was up. Mainland China and South Korea out for public holidays. European markets trading lower with speculation and market chatter around Credit Suisse weighing on sentiment. Oil higher as OPEC+ reportedly to agree on more than a 1M bpd output cut at Wednesday's meeting. Companies mentioned: Myovant Sciences, Sumitovant, Sumitomo Pharma
US futures are indicating a higher open. European equity markets have opened higher, following lower Asian trade. Numerous headwinds continue to stalk markets. However we have seen possible signs that the UK government is starting to respond to the magnitude of the crisis, with Truss and Kwarteng to hold an emergency meeting with independent fiscal watchdog today, but they have pushed back against a U-turn on the proposed tax cut plans. Companies mentioned: Softbank, Ashton Martin, Geely, Puma, Adidas, Nike
US futures are indicating a lower open. European equity markets have opened lower, following mixed Asian trade. Market sentiment is deteriorating after the brief reprieve in the prior session. Better risk sentiment attributed to yesterday's BoE Gilt buying operation, which exerted strong downward pressure on yields. However, still a lot of skepticism that the rally will be sustained Companies mentioned: Philip Morris, Swedish Match, Warner Bros. Discovery
US futures are indicating a lower open. European equity markets have opened lower, following lower Asian trade. The bearish narrative has continued to strengthen in the wake of latest US market performance. Headlines have included the S&P 500 touching the lowest level since 30-Nov, ending the bear-market rally, the unrelenting global rate hike cycle led by the Fed remaining the core driver, and concerns about UK fiscal policy heightening on negative implications from plans for unfunded tax cuts Companies mentioned: Apple
US futures are indicating a higher open as of 5AM ET. European equity markets are firmer. Trading in Asia was mixed. Some choppy action in equity markets, with attention on fluctuations on bond and FX markets. Companies mentioned: Biffa, TSMC
US futures are indicating flat to slightly lower as of 5AM ET. European equity markets are mixed early in their session. Asian markets under pressure overnight with multiple markets sharply lower. FX markets highly volatile Monday. The Sterling fell to a record low against the dollar amid heightened concerns after the UK finance minister indicated more tax cuts could come on top of those announced in Friday's budget.
US futures are indicating a lower open. European equity markets have opened weaker, following broad weakness in Asia. Markets continue to digest the recent central bank updates. After Fed's hawkish rate hike, the BoE followed up with a 50-bps rate hike. South Africa, Indonesia, Taiwan, Vietnam and the Philippines were among the other central banks raising rates, bringing this week's total to more than 600 basis points. Companies mentioned: Boeing
US futures are indicating a higher open. European equity markets have opened weaker but have rallied from their bottoms. following broad weakness in Asia. The early attention is on the Fed meeting after it raised rates by 75-bps as expected. Powell’s comments firmly reinforced the commitment to curbing inflation while acknowledging economic tolls in the process, and admitted that a soft landing scenario looks less certain. Companies mentioned: Digital Realty, Digital Core REIT, Credit Suisse
US futures are indicating a flat open. European equity markets have opened lower, following lower Asian trade. Markets are currently looking ahead to the results of today’s FOMC meeting, which is expected to generate a 75bp rate hike and a potentially hawkish new set of economic projections. We also saw overnight Russian President Putin announcing a partial mobilization to call up reservists to fight in the Ukraine. We saw global indices dip on the back of the Russian president’s comments, and also EU defense stocks are trading higher. Companies mentioned: Sinclair Broadcast Group, Tencent Music Entertainment Group, Uniper
US futures are indicating a lower open. European equity markets have opened firmer, following positive Asian trade. There’s an outsized focus on synchronized tightening by central banks. Ahead of Wednesday's FOMC decision, Riksbank surprised with a 100-bps hike versus the expectation for a 75-bps move. Despite firmer tone for equity markets, the path of least resistance remains to the downside, given concerns about higher-for-longer rates, accompanying growth fears and impact on earnings outlook. Companies mentioned: UnitedHealth, Change Healthcare, Chubb, Hang Seng Bank
US futures are indicating a lower open with major indexes negative globally as caution prevails ahead of this week's Fed meeting. European equities are weaker, but off worst levels following broadly weaker sessions in Asia. UK markets are closed for the Queen's funeral and Japan closed for a public holiday. Companies mentioned: Volkswagen, Porsche, Ant, Didi, Wix.com
US futures are indicating a lower open. European equity markets have opened weaker, following broadly negative Asian trade. The ramp in Fed tightening expectations following the hotter-than-expected US CPI data remains the widely cited drag on risk assets. At the same time, the deepening Treasury yield curve inversion is playing further into concerns of a hard landing. Companies mentioned: Uber, Applied Optoelectronics, SoftBank
US futures are indicating a flat open. European equity markets have opened higher, following mixed Asian trade. The market narrative continues following the fallout from the US CPI reading, and with yield curve inversion driving talk of a hard landing. Predictions of a higher peak rate and rise in real yields are also tying into concerns around tighter financial conditions, putting market valuations under the spotlight. We have also seen Chinese property stocks rallying overnight amid hopes for a relaxation of housing curbs. Companies mentioned: Tesla, Blackstone, Swedish Match
US futures are indicating a higher open. Trading in both Asian and European markets has been significantly weaker, following Tuesday’s weak US session. Reverberations have been felt in global markets following the weak Tuesday US trading session as a result of the hotter-than-expected August CPI data. We’ve also seen signals of intervention from the Bank of Japan, with an announcement that it would increase outright JGB purchases, and also reports that it has conducted a so-called rate check, a move interpreted as a precursor to direct currency intervention. Companies mentioned: Citigroup, Bed Bath & Beyond, Tencent Music Entertainment Group
US futures are indicating a higher open. European equity markets have opened higher following Monday's strong gains. Asian markets went higher in a subdued day's trading. The August US CPI data is the focus for global markets, with headline inflation seen moderating amid sharply lower energy prices. However, the data is considered unlikely to impact the expectations for a 75-bps Fed rate hike next week. Companies mentioned: Twitter, Tesla, Applovin, Unity Software, Uber
US futures are indicating a higher open. European equity markets have opened up, following a higher albeit quiet Asian session. Some focus on geopolitics with Reuters, citing sources, reporting that the Biden administration plans to broaden curbs on US shipments of semiconductors used for AI and chipmaking tools to China. Companies mentioned: Disney
US futures are indicating a higher open. European equity markets have opened higher, following positive Asian trade. Markets are on track to snap a run of weekly losses that were driven in large part by hawkish central banks, the dollar rally and corresponding tightening of financial conditions, Europe's energy crunch, and tightening Covid restrictions in China. At the same time falling commodity prices continue to provide support for peak inflation narrative. Also tight labor markets and strong balance sheets are tempering recession concerns. Companies Mentioned: Tesla, Revlon, Citigroup, Atom Bank, Ross Acquisition Corp II
US futures are indicating a slightly lower open after Wednesday's Wall Street rally. European equity markets have opened higher, following mostly positive Asian trade. Fed Chair Powell is due to speak and markets are anticipating another 75-bps hike later this month. The hawkish Fed policy and dollar’s strength put pressure on policymakers in other jurisdictions. Japan’s Yen remains under sustained selling pressure. The ECB policy decision is in focus for Europe, with the market pricing in a 75-bps hike as it continues to frontload tightening cycle. Companies Mentioned: Principal Financial Group, Tencent
US futures are indicating a slight higher open. European equity markets have opened lower, following weaker trading in Asian markets. Market momentum has remained to the downside as the Fed's raise-and-hold messaging, expectations for a more hawkish ECB, tightening financial conditions, stagflationary headwinds from Europe's energy crisis, and China's Covid lockdowns weigh on the growth outlook. Bond market volatility is also another talking point as central banks prepare for more outsized rate hikes in response to elevated inflation and a still-tight labor market. Companies Mentioned: EQT, Meta Platforms, Nissan Motor, Honda Motor, Dongfeng Motor Group, Guangzhou Automobile Group
US futures are indicating a higher open. European equity markets have opened higher, following mixed Asian markets. A few developments over the US long weekend. Gas futures spiked more than 30% Monday in the wake of Russia prolonging the Nord Stream 1 suspension. Markets on Tuesday benefiting from headlines related to European measures under discussion to cap energy prices. The RBA rose 50bps, as expected, while the ECB decision is set for Thursday. Companies Mentioned: CVS Health, Signify Health, EQT Corp, THQ Appalachia, Volkswagen, Porsche
US futures are indicating a slightly lower open. European equity markets have opened with small gains, following mixed Asian markets. Fed officials are increasingly talking up the 'raise and hold' strategy, while the ECB rate path continues to steepen with economists expecting a 75-bps rate hike next week. Markets are also turning attention to US Non-Farm Payrolls data due later, which could shape September’s FOMC rate decision. A strong reading could support the case for another 75-bps hike. Companies Mentioned: Apple, Google, Amazon
US futures are indicating a lower open. European equity markets have opened lower, following weak Asian trade. The Fed pushback against a dovish pivot and in favor of a raise and hold strategy, ramp-up in quantitative tightening from September, and expectations of a 75 bp ECB rate hike next week are heightening concerns over increasing central bank hawkishness. At the same time, the peak inflation narrative is coming under scrutiny amid surging energy costs while slowing growth is focusing attention on a stagflationary economic environment. Companies Mentioned: 3M, Advanced Micro Devices, Meta Platforms
US futures are indicating a higher open. European equity markets have opened lower, following mostly weaker Asian trade. Central bank policy expectations continue to dominate the market narrative. Some thoughts expressed were that markets are not adequately pricing-in the implications of recent hawkish Fed messaging. Eurozone and UK policy tightening expectations continue to firm amid elevated inflation forecasts. Companies Mentioned: Netflix, Snap, DigitalBridge, Equinix, TIME dotCom
US futures are indicating a higher open. European equity markets have opened higher, following mixed Asian trade. Markets continue to digest hawkish central bank commentary at Jackson Hole. The message has reinforced determination by policymakers to continue tightening and leave rates at restrictive levels for an extended period. The Hawkish Fed commentary is heightening the focus on the US policy and rate differentials with Japan and China. Companies Mentioned: Morgan Stanley, SolarEdge Technologies
US Futures are indicating a lower open. European equity markets have opened lower, following a broadly weaker performance in Asia. Markets are digesting the lack of any pivot to more dovish settings at Jackson Hole, and on the contrary, Fed Chair Powell and ECB policymakers acknowledged tightening will hurt households and businesses but that a larger sacrifice will be needed to tame inflation. Companies Mentioned: Walmart, Massmart Holdings, Netflix, Morgan Stanley
US Futures are indicating a slightly lower open. European equity markets have opened higher, following positive performance in Asia. Macro headlines focus on the speech by Fed Chair Powell later today at Jackson Hole. Expectations are for a hawkish commentary that echoes recent pushback against a policy pivot and repeats the need to continue tightening until inflation is retreating in a convincing manner. Companies Mentioned: Merck, Seagen, KKR, Ramsay Health Care, Everbridge
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are higher, following a mostly higher trading in Asia. The narrative remains with markets concerned about a more hawkish leaning speech from Fed Chairman Powell later this week, albeit one that has already been telegraphed by a flurry of Fedspeak. We also had further Central Bank action today, with the Bank of Korea hiking its benchmark 7-day repo rate by 25bp to 2.5% as expected. Companies Mentioned: Amazon, Bed Bath & Beyond, Honda Motor
US equity futures are indicating a broadly flat open as of 05:00 ET. European equity markets are lower, following a mostly weaker performance in Asia, with Greater China markets logging the heaviest losses. The Fed's Kashkari reiterated that monetary policy needs to be tightened to bring inflation under control. The latest China policy support measures have failed to gain meaningful traction. Companies Mentioned: Bed Bath & Beyond, Pfizer, Johnson & Johnson, Global Blood Therapeutics
US Futures are indicating a slightly higher open. European equity markets have also opened lower and are now trading mixed, following mostly weaker performance in Asia. All eyes are on Fed Chair Powell's Jackson Hole speech on Friday, making it the key risk event for markets amid thoughts he will lean hawkish and push back against hopes for a dovish pivot. In Europe, the recent ECB speakers are also on the hawkish side. Companies Mentioned: Apple, Olympus, Carlyle, EQT, KKR
US Futures are indicating a lower open. European equity markets have opened softer, following lower Asian trade. We have the Jackson Hole Symposium will being held Thursday to Saturday this week, with Fed Chair Powell's speech on Friday due to get most of the attention. It is unclear if his remarks will settle the debate on whether the Fed will opt for a 50bp or 75bp hike in September. Companies Mentioned: Signify Health, Amazon, UnitedHealth, CVS Health, Option Care Health, SoftBank
US Futures are indicating a lower open. European equity markets have opened softer, following mixed Asian trade. There’s no big directional drivers in play, while the attention remains on Fed policy after the FOMC minutes reinforced its hawkish policy stance. As global markets look ahead to the Jackson Hole symposium next week, there are some thoughts that the central bank could use the summit to bolster its policy pivot pushback. Companies Mentioned: Bed Bath & Beyond, Keurig Dr Pepper
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mixed, following mostly lower markets in Asia. Central Bank actions continue to remain a key focus following the July FOMC minutes, with other developments including doubts about a dovish pivot for the Reserve Bank of New Zealand and Bank of England rate forecasts dialed up aggressively after another surge in UK CPI. Companies Mentioned: Amazon
US equity futures are indicating a lower open as of 05:30 ET. European equity markets are lower, following mostly higher markets in Asia, with Japan the best performer. Attention will turn to FOMC minutes today, though it is unlikely to sway the immediate debate over whether the next hikes will be 50 or 75 bps. European markets are taking their lead from UK inflation data, which was the UK's first double-digit inflation print in 40 years in July. Companies Mentioned: Apple, Manchester United
US Futures are indicating a lower open. European equity markets have opened higher, following broadly higher Asian trade. The path of least resistance remains to the upside, but there’s still some thought that the current upside is merely a bear rally driven by short covering, thin liquidity and systematic fund buying, and that another move lower could be sparked by negative developments on inflation. Companies Mentioned: Apple, Navitas
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are broadly higher, following largely higher Asian equities. Bullish sentiment continues to be underpinned by the peak inflation narrative, which has gained more traction following recent softening of price pressures. Companies Mentioned: Wells Fargo, DoorDash, Facebook
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following a mixed Asian session. Market focus remains on the cooler-than-expected US July CPI data, although eyes have moved to Fed officials and if the data will lead to a dovish pivot. Companies Mentioned: Li Ning, Kinder Morgan, Honda Motor
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following broad strength in Asia. Market focus remains on the cooler-than-expected US July CPI data, which has prompted a dovish market reaction. Terminal rate projections have also ticked down. Biden administration officials are reportedly rethinking whether to scrap tariffs on China imports, while China has concluded military drills around the island but has also pledged to continue regular patrols. Companies Mentioned: HCA Healthcare, Blackstone, CVS Health, Amazon, Apple
US equity futures are indicating a higher open as of 05:30 ET. European equity markets are little changed, following broad weakness in Asia, where tech/semis were under notable pressure in the wake of Micron's warning of weaker chip demand. Markets are bracing for potential volatility with US July CPI due to be released today. In Asia, China CPI inflation strengthened, while PPI inflation fell by more than expected. Companies Mentioned: Tesla, Google, SoftBank
US Futures are indicating a higher open. European equity markets have opened flat-to-lower, following mostly higher levels in Asia. Markets are playing a waiting game ahead of the US July CPI report on Wednesday. The peak inflation narrative is still getting a lot of airplay amid sharp pullback in oil and food prices, and fall in inflation expectations. However, recent recession concerns have been mitigated to some extent by the hot labor market. Companies Mentioned: Snap, Groupon, Azenta
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are broadly higher, following mixed Asian equities. The Fed rate hike path remains the key macro theme in the wake of Friday's better than expected payrolls data. Geopolitical risks also remain a focus in Asia following Pelosi's visit to Taiwan. Companies Mentioned: Veolia Environnement, Suez, Macquarie, United Parcel Service, Signify Health, CVS Health, Apple
US Futures are indicating a higher open. European equity markets have had a mixed start, following broad gains in Asia. Markets are assessing the risk of a policy mistake where central banks tighten too aggressively in a slowing economy. In the US, democrats have secured Sinema's support for the Inflation Reduction Act. Companies Mentioned: Tesla, Amazon, Didi Global
US equity futures are indicating a flat open as of 05:00 ET. European equity markets are broadly firmer, following mostly higher Asian equities. While markets appear to have moved on from Pelosi's Taiwan visit, the fallout continues with China conducting live fire drills off Taiwan's coast, marking the most serious provocation in decades. The BoE is expected to raise its key rate by 50bp, and Philadelphia Reserve Bank President Harker is due to speak today. Companies Mentioned: Alibaba, SoftBank
US equity futures are indicating a slightly higher open as of 05:00 ET. European equity markets are weaker, following mostly higher Asian equities. The press continues to focus its attention on House Speaker Pelosi's visit to Taiwan. Fed rate expectations remain the key driver on the macro front. China Caixin services PMI unexpectedly strengthened in July. Companies Mentioned: Semtech, Sierra Wireless, Apollo, Atlas Air Worldwide, PayPal, Match Group, Airbnb
US Futures are indicating a lower open. European equity markets have opened lower, following broad weakness in Asia. Market focus today is on the US-China frictions over Taiwan amid reports that Pelosi will visit the island and meet with President Tsai. While Pelosi's visit has largely been a background issue, markets have become more sensitive to the headlines amid uncertainty around how China will respond. Companies Mentioned: TD Bank, Cowen Group, Charles Schwab, Twitter, Citigroup
US Futures are indicating a lower open. European equity markets have opened higher, following a mostly higher Asian trade. Macro Data in focus with PMI's on the calendar. Some concerns around China's economic health as China factory weakened in July and home sales again fell sharply. Companies Mentioned: China Evergrande, Boeing, Braskem, Talos Energy, EnVen Energy
US Futures are indicating a higher open, with Apple and Amazon strengthening after-hours following earnings. European equity markets have opened higher, following mixed Asian trade. More traction behind the peak Fed narrative has supported risk assets this week after Chair Powell scrapped forward guidance on rates and stressed data dependency. US-China tensions over Taiwan notched higher after Biden and Xi swapped warnings over the island. Companies Mentioned: Denison Mines, UEX Corporation, Kaltura, Alibaba
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are broadly firmer, following mostly higher Asian equities. Reverberations from Wednesday’s Fed policy statement have largely driven the risk-on move in global markets. However the expected contraction in US Q2 GDP tonight may also heighten recession expectations as the Treasury yield curve inversion deepens. Companies Mentioned: JetBlue Airways, Spirit Airlines, Frontier Group Holdings, Twitter
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer with earnings influencing, following mostly higher Asian equities. Markets are awaiting the Fed, which is widely expected to raise rates by 75 bp. Biden will speak with Xi on Thursday. Some key tech earnings missed on the current quarter, though were initially well-received in after-hours trading yesterday. Companies Mentioned: Google, Microsoft, Visa, Texas Instruments, PayPal
US Futures are indicating a lower open after Walmart's guidance disappointed. European equity markets have had a mixed open, following mixed Asian trade. Markets are in waiting mode ahead of Wednesday's Fed meeting. While a 75-bps rate hike is largely baked in, the bigger question is the extent to which Fed will guide expectations for September and beyond. Companies Mentioned: Walmart, Coinbase, Meta, Alibaba
US Futures are indicating a higher open as of 05:00 ET. European equity markets are trading broadly higher after opening in negative territory, following generally lower trading in Asia. Focus remains on the Fed's hiking path with a 75 bps rate hike priced in for this week. A big question will also be the extent to which the Fed looks to guide expectations for the September meeting. Companies Mentioned: Apple, Amazon, Google
US Futures are indicating a lower open after Snap went down in extended trade on earnings and the company's plan to cut cost in ads. European equity markets have had a weak open, following mixed Asian trade. The disappointing US initial claims and Philly Fed data played into recession concerns. Biden could temporarily lower tariffs on China in response to rising inflation and supply chain disruptions. Companies Mentioned: Snap, Rivian
US Futures are indicating a lower open as of 05:00 ET. European equity markets are trading lower, following mixed trading in Asia. Markets are in a bit of a waiting mode in advance of a number of companies due to report earnings, today’s ECB meeting, and next week's Fed meeting Companies Mentioned: ConocoPhillips, Microsoft, Nokia
US Futures are indicating a higher open, with broad-based rally on major markets with tech outperforming after Netflix reported earnings showing its subscriber loss was less than expected. European equity markets have had a strong start, following broad gains in Asia. The European Central Bank policy is in focus amid speculation that the bank could hike rates by 50-bps this week to end negative rates. Companies Mentioned: Netflix, L'Oreal, Johnson & Johnson, Procter & Gamble, Kao
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are weaker, following mostly lower Asian equities. Gazprom declares force majeure on Russian gas shipments to European customers through Nord Stream 1. The ECB bank lending survey points to tighter credit standards as risks increase. Companies Mentioned: Twitter, IBM
US Futures are indicating a higher open as of 05:00 ET. European equity markets have had a positive start, following higher trading in Asia. Markets continue to dial back the odds of a July 100bp Fed rate hike following recent pushback by some Fed officials against tightening too aggressively. Companies Mentioned: Starbucks, Fresh Del Monte Produce, Netflix, Boeing
US Futures are indicating a higher open as of 05:00 ET. European equity markets have had a positive start, following mixed performance in Asia. Markets are still processing the implications of the hotter-than-expected US CPI report, while the reassuring comments from Fed officials downplaying likelihood of a 100-base-point move this month has helped risk sentiment. Companies Mentioned: Google, Microsoft, Netflix, Pinterest, Amazon, Alibaba
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are weaker, while Asian equities ended mixed. Higher-than-expected US inflation continues to reverberate on markets, which are pricing in greater probability of a 100 bp Fed rate hike in July. The narrative has continued with record low Australian jobs data, and unexpected monetary intervention from Singapore's MAS and the Philippines Central Bank Companies Mentioned: DigitalBridge, Brookfield Infrastructure, Deutsche Telekom, Tokyo Electric Power Co. Holdings, Celsius Network
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are weaker, while Asian equities ended higher. Central bank action and recession concerns remain top of mind, with the IMF downgrading its US GDP growth forecast for the second time in less than a month. Also the BOK and RBNZ both raised their interest rates by 50 basis points. Companies Mentioned: Google, Netflix, Apple
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are weaker, while Asian equities ended lower, with tech stocks under pressure and weighing on major indexes. Markets await key US CPI tomorrow. The focus in Europe revolves around energy and UK politics. Companies Mentioned: Google, Match Group, Pershing Square Tontine Holdings
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are modestly lower, following a weak performance in Asia. The White House is still debating rolling back China tariffs. Macau has shut all its casinos for a week from Monday amid a widening Covid outbreak. EU leaders are suggesting that a total Russian gas cut-off is likely. Companies Mentioned: Twitter, Amazon, Alibaba, Tencent
US equity futures are indicating a lower open as of 05:00 ET. Asian markets traded broadly higher, however early trading in European equity markets is mixed. Former Japanese Prime Minister Shinzo Abe has been shot and is in a critical condition. US President Biden is due to meet with advisers on Friday to discuss possible reductions in US tariffs on Chinese consumer goods. Companies Mentioned: Meta, Swedish Match
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, while tech-heavy benchmarks outperformed in Asia after Samsung reported Q2 revenue that was better than feared. Boris Johnson has agreed to resign as UK Prime Minister. Merck is reportedly in advanced talks to acquire Seagen in a ~$40B deal. Companies Mentioned: Merck, Seagen, Samsung Electronics
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are higher, aided by a retreat in gas prices after Norway's oil & gas strike ended. All Asian benchmarks were negative, as recession fears returned and the US dollar hit 19-year highs. China's reopening is under threat as several regions battle Covid outbreaks. UK PM Johnson's position is under threat after two senior ministers resigned late Tuesday. Companies Mentioned: Amazon, Just Eat Takeaway, Walmart
US Futures are indicating a lower open. European equity markets opened higher but are now trading lower, following mixed trading in Asia. From the July 4th weekend we have news of positive steps in the US and China relationship, with reports President Biden may announce as soon as this week a rollback of some US tariffs on Chinese consumer good. This is followed by reports that China Vice Premier Liu He held a video conference with US Treasury Secretary Yellen on Tuesday morning. Companies Mentioned: SAS, Intel, GlobalFoundries, Taiwan Semiconductor, GlobalWafers
US Futures are indicating a lower open. European equity markets have opened lower, following negative performance in Asia. Economic growth concerns are intensifying after top central bankers this week conceded the risk of recession while stressing that the priority is on combating inflation. The pullback in commodities continues to support the policy mistake narrative with markets pricing in policy easing by mid-2023. Companies Mentioned: Kohl's, Google, TSMC
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are weaker, while Asian trade was mixed, with China markets outperforming after PMIs returned to expansion. NATO has taken aim at Russia and China in its updated mission statement. Markets are pricing in 50 bp of Fed rate cuts after the funds rate peaks in March 2023. Companies Mentioned: Nexstar Media Group, Warner Bros Discovery, Paramount Global, Uniper
US equity futures are indicating a flat open as of 05:00 ET. Asian markets finished mostly lower, and European equity markets are also currently lower. This continues reverberations in equity markets following Tuesday's weak batch of US data. Companies Mentioned: Imperial Oil, ExxonMobil, Whitecap Resources, 2U, BYJU, Walgreens Boots Alliance
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mixed Asian trade. The G7 communique is expected to include a proposal to impose price caps on Russian energy imports. A NATO strategy document is set to label China a "systemic challenge" this week. China has achieved a Covid milestone after Beijing and Shanghai recorded zero local infections. Companies Mentioned: JetBlue Airways, Spirit Airlines, Nike
US Futures are indicating a higher open. European equity markets have opened higher, following positive performance in Asia. Oversold conditions, broadly negative sentiment, depressed positioning indicators and quarter-end portfolio rebalancing have been mentioned as factors behind the market bounce Companies Mentioned: Goldman Sachs, Reliance Industries, Walgreens, Amazon, Netflix
US Futures are indicating a higher open. European equity markets have opened stronger, following positive performance in Asia. Market narrative is shifting from supply-chain concerns to demand-destruction concerns, as central banks pledge to tame inflation at any cost. Companies Mentioned: Merck, Seagen, Zendesk, Walgreens Boots Alliance
US Futures are indicating a lower open. European equity markets are lower, despite mostly positive Asian sessions. Risk sentiment remains weak after Fed's Powell acknowledged that there is a clear risk that policy-tightening could tip the US economy into recession, and that the narrative of a 'soft landing' will be 'very challenging'. Companies Mentioned: Synopsys, Meta, Uber, Toshiba
US equity futures are indicating a weak open as of 05:00 ET, following weak trading in both Asian and early European markets. Fed Chair Powell is due to speak at a Congressional testimony today, with expectations he is likely to be grilled regarding his response to inflation. The UK's May CPI hit a fresh record high. Companies Mentioned: Alibaba, Ant, China Evergrande
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following broad strength in Asia. Treasury Secretary Yellen said recession isn't inevitable, but inflation is unacceptably high. Yellen also said that the US is discussing a Russian oil price-cap plan with its allies. China's Covid outbreak is shifting to other regions with flareups in Shenzhen and Macau. Companies Mentioned: Mondelez International, JetBlue Airways, Spirit Airlines, Leonardo DRS, Rada Electronic Industries
US equity futures are indicating a higher open as of 05:00 ET. Central bank moves and inflation concerns have continued to reverberate across global markets, with broadly weaker trading in Asia, however higher trading in early European equity markets. Companies Mentioned: AstraZeneca (AZN.LN), Mereo BioPharma (MREO), Snap (SNAP)
US Futures are pointing to a lower open. European equity markets are lower. Asian stocks were mixed. Attention remains on central bank policy tightening and recession risk. FOMC takeaways note satisfaction that the Fed is doing enough to contain inflation with the 75bp rate hike. However, analysts see increasing risk of recession following decision. Companies Mentioned: Twitter, Tesla, World Wrestling Entertainment
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, with the euro and bonds rallying on news of an unscheduled ECB meeting today on the recent bond selloff. Asian trade was mixed, with China activity data for May somewhat better than expected. Attention is squarely on today's FOMC meeting, with the Fed now expected to raise rates by 75bp. Companies Mentioned: Zendesk, BP
US equity futures are indicating a higher open as of 05:00 ET. Asian equities fell again Tuesday but most closed well off the lows. European equity markets are struggling to hold on to gains early in their sessions. Attention on yield curve signaling with the 5/10Y spread widening by the most in over two decades on Monday. Companies Mentioned: ResMed
US equity futures are indicating a lower open as of 05:00 ET. Asian markets saw their worst day in three months on follow through Friday's sell off as concerns over inflation returned. European equity markets have also opened lower. Companies Mentioned: Goldman Sachs, Credit Suisse
US equity futures are indicating a slightly higher open as of 05:00 ET. European equity markets are lower, following mixed markets in Asia. European markets continue to digest Thursday's ECB decision. China's Covid situation is a concern again. The key macro impetus today will come from US CPI data. Companies Mentioned: Apollo, Just Eat Takeaway, MGM Resorts, DocuSign, Illumina
US equity futures are indicating a higher open as of 05:00 ET. European equity markets lower. Follows mostly weaker levels in Asia. ECB policy decision front and center today, with questions whether rate liftoff could come in larger 50-bp move rather than expectations for 25-bp hike. In APAC some renewed concerns on the COVID situation in China Companies Mentioned: Brookfield, Mitsui OSK Lines, Sharp, Electricite de France
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mostly lower, following higher levels in Asia. Attention continues to center on Fed-led global tightening, which continues to dominate. Companies Mentioned: Hasbro, TSMC, BYD
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower following weaker trading in Asia. Companies Mentioned: Kohl's (KSS), Ted Baker (TED.LN)
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are higher following higher levels in Asia. Asia shares with a modest risk-on rally Monday as technology and other growth stocks rose. Companies Mentioned: Boeing, Li Auto, Telecom Italia
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are higher following higher levels in Asia. Quiet session overnight with a number of markets (China, HK, Taiwan, UK) out for public holidays. US payrolls data in focus this morning with eyes on average hourly earnings and the participation rate. Companies Mentioned: Kohl's, Okta
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are higher, with London markets closed for the remainder of the week for Queen's Jubilee celebrations. Asian markets were mostly lower, however mainland China rose again on reopening hopes and more stimulus. Saudi Arabia is prepared to boost crude production if sanctions curtail Russian output. Companies Mentioned: Blackstone, Barclays, KKR, Ramsay Health Care, Delta Air Lines, Boeing
US equity futures are indicating a mixed open as of 05:00 ET. European equity markets are mixed after failing to sustain early gains, following a mixed session in Asia. Attention remains on bond yields and central bank policy dynamics. Russia has widened gas cuts. Biden will send advanced rocket systems to Ukraine. The macro data focus is on final manufacturing PMIs. Companies Mentioned: Amazon, Apple, Salesforce
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mostly lower, following a mixed session in Asia. Early attention on Eurozone inflation after upside surprise in national readings in Monday and hawkish commentary from ECB officials. In APAC better-than-expected China PMI well received. On Monday night European leaders agreed to a partial ban on Russian crude imports that will be phased in over several months Companies Mentioned: Qualcomm, DSM, Firmenich, GSK, Affinivax, Advent, Royal DSM
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mostly higher, following broad strength in Asia. Better-than-expected earnings from big China internet stocks Alibaba and Baidu offered support in Asia. Companies Mentioned: Samsung Electronics, Air France, ITA Airways
US equity futures are indicating a slightly lower open as of 05:00 ET. European equity markets are mostly higher, following mixed trade in Asia. The market remains underwhelmed by China's seemingly unrelenting policy support announcements. A few markets are closed for a public holiday in Europe today. Companies Mentioned: Twitter, Qualcomm, Apple
US equity futures are indicating an unchanged open as of 05:00 ET. European equity markets are mostly higher, following broad gains in Asia. The ECB has warned that financial stability conditions have deteriorated. The key macro focus today is US FOMC minutes from 4-May meeting. Companies Mentioned: Wendy's, Lyft, Apple, Nike
US equity futures are indicating a lower open as of 05:00 ET. US futures took a turn lower just after yesterdays close following a profit warning from SNAP. Multiple tech shares fell in sympathy, with the likes of Amazon, Pinterest, Google, Twitter, and Meta moving lower. European equity markets opened lower on Tuesday, following broad weakness in Asia. Companies Mentioned: SNAP, DexCom, Insulet, Petrobras
US equity futures are indicating a higher open as of 05:00 ET. Asian equities traded mixed to higher on Monday. European equity markets are largely higher. Latest news on the China Covid situation mixed, with more cases reported in Beijing while Shanghai cautiously reopens public transport. In Europe, ECB President Lagarde said negative rates are likely to end in Q3. Companies Mentioned: VMWare, Broadcom, Apple, Electronic Arts
US equity futures are indicating a higher open as of 05:00 ET. European equity markets opened higher. Asian equities finished higher Friday as risk sentiment improved and the PBOC took steps to support the China economy. Companies Mentioned: Kohl's, Holcim, Heidelberg, Sika AG, Amazon
US equity futures are indicating a lower open as of 05:00 ET. European stocks are broadly lower, following mostly weaker levels in Asia. The risk appetite is weak after the sharp Wall Street selloff on Wednesday. Markets are looking ahead to Friday's PBOC rate decision for potential policy support. Companies Mentioned: Brookfield Asset Management, HomeServe, Chevron, Schlumberger, Tencent
US equity futures are indicating a lower open as of 05:00 ET. European stocks are mostly softer, following mostly firmer Asian markets. Fed members support 50bp rate hikes in the near term. Companies Mentioned: JetBlue
US equity futures are indicating a higher open as of 05:00 ET. European stocks moving higher Tuesday with cyclicals leading the advance. This follows a positive session in Asia with Hang Seng leading in China with big tech outperforming. Bullish sentiment has been chalked up to improving China Covid trends, oversold conditions and positioning indicators still flagged as contrarian buy signals. Companies Mentioned: Twitter, Lordstown Motors
US equity futures are indicating a lower open as of 05:00 ET. European indices opened mostly in negative territory following a mixed session in Asia. Chicago wheat futures climbed by their 6% limit in Asian trade after India announced it will suspend wheat exports to manage food security. China activity data the main macro focus with the April update showing deeper-than-expected contraction
Companies Mentioned: JetBlue, Spirit, Frontier Airlines, Yamaha, Honda
US equity futures are indicating a higher open as of 05:00 ET. A bit of a relief rally on Friday following some heavy selling as Central bank policy remains in focus with markets taking encouragement from Fed Chair Powell reiterating support. European equity markets opened higher following broad strength in Asia. Companies Mentioned: Roper Technologies, Toshiba
US equity futures are indicating a lower open as of 05:00 ET. Asian equities finished sharply lower though mainland China markets were a modest outperformer after more supportive comments on the economy from the State Council. European markets also lower as global markets digest yesterday's US CPI data Companies Mentioned: Twitter, Instacart, Petrobras, Vodafone Group, Three UK
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, while Asian markets were mostly higher. The macro data focus is on US CPI data today; expectations are for an increase in headline m/m but base effects are expected to bring down the y/y rate. Companies Mentioned: Phillip Morris, Swedish Match, Twitter, Apollo, Tesla
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer while Asia was mixed, with Mainland China stocks the best performers of the day on increasing hopes of central government support. The EU's proposed embargo on Russian oil may turn out to be less onerous than feared. Companies Mentioned: Google, Dover, Qualcomm
US equity futures are indicating a lower open as of 05:00 ET. European equity markets lower. Asia finished mostly weaker with the Nikkei and ASX experiencing sharp losses. Companies Mentioned: Blackstone, Atlantia, Vodafone
US equity futures are indicating a lower open as of 05:00 ET. Markets overnight feeling the impact of yesterdays negative session on Wall Street with Asia mostly lower and Europe also lower. Companies Mentioned: Peloton, Barrick Gold, Kinross Gold
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are broadly higher following broad gains in Asian markets. The market is taking its lead from the Fed raising rates by 50 bps and from Chair Powell's downplaying of a 75 bp rate hike. The market is fully priced for the BoE to raise rates by 25 bps today. Companies Mentioned: Twitter, Google, Caesars Entertainment, Silicon Motion Technology
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are lower following mostly weaker Asian markets. The Fed is widely expected today to raise the funds rate by 50 bp and announce that it will begin balance sheet runoff in June. Biden administration officials are split on whether to reduce China import tariffs. The EU is increasingly at risk of Russian retaliation as a sixth round of sanctions approaches. Companies Mentioned: Didi Global, Twitter
US equity futures are indicating a flat open as of 05:00 ET, after being slightly higher at 04:30ET . European equity markets higher, following a mixed Asian trade. Volumes light in APAC with several markets closed for public holiday, including Japan and mainland China. Some volatility in HK tech after state broadcaster CCTV reported authorities in Hangzhou imposed restrictions on an individual surnamed "Ma". Shares recovered as authorities later clarified the spelling of the name, indicating it was not Jack Ma. Companies Mentioned: BABA
US equity futures are indicating a higher open as of 05:00 ET. European equity markets lower , following a weak performance in Asia. Lighter activity than normal with multiple markets including China and the UK offline for public holidays. Companies Mentioned: Berkshire Hathaway, Alimentation Couche-Tard, EG Group, Activision Blizzard
US equity futures are indicating a lower open as of 05:00 ET, with Amazon, Apple and Intel shares falling in the wake of their results after yesterday's close. Equity markets were supported in Asia on China's Politburo pledging further support to the economy. Companies Mentioned: Amazon, Apple, Intel, Tesla, Twitter
US equity futures are indicating a higher open as of 05:00 ET. US futures positive on the back of Meta 's better-than-expected results posted post close on Wednesday. European equities firmer Thursday. Follows a mostly positive performance in Asia. Companies Mentioned: Meta, Albioma, KKR, Thoma Bravo, Temenos
US equity futures are indicating a higher open as of 05:00 ET. European equities have opened lower following a mixed session in Asia. Earnings are in focus, as Microsoft shares rallied after-hours yesterday while Google shares fell after both companies reported earnings. Russia will halt gas supply to Poland and Bulgaria. Companies Mentioned: Microsoft, Google, Mattel, Apollo
US equity futures are indicating a lower open as of 05:00 ET. European equities opened higher following a mixed session in Asia. Global growth a concern as China's zero Covid-policy and continued aggressive tightening signals from the Fed and ECB weigh on markets.
US equity futures are indicating a lower open as of 05:00 ET. Broad weakness in APAC on Monday with China markets underperforming. Concerns continue to grow over the extent of the economic slowdown in China. This as the Covid situation appears to be worsening, with several Beijing districts entering lockdown and Shanghai still struggling to contain infections. European markets also beginning the week mostly lower. Companies mentioned: Twitter, Roche, Philips, Kuaishou Technology , Baidu, Xiaomi, Alibaba
US equity futures are indicating a lower open as of 05:00 ET. Asian markets were weaker on Friday, while European equity markets are lower in early trade. Risk aversion is chalked up to yesterday's hawkish Fed comments and dovish ECB comments. The French presidential election run-off is in focus, with polls still favoring Macron. Companies mentioned: Twitter, Citigroup, Banorte
US equity futures are indicating a higher open as of 05:00 ET. Asian markets mixed but Greater China markets sold off again as internet & IT names in HK in particular underperformed. Some of the recent weakness was blamed on policy easing disappointment. European equity markets higher. Companies mentioned: Humana
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are higher, while Asian markets were mixed overnight with mainland China markets lagging after the PBOC left benchmark lending rates unchanged. Netflix shares slid 25% in after-hours trade yesterday following a shock decline in subscribers. Russia is stepping up action on the eastern front of Ukraine. Fedspeak continues to lean hawkish, but there is also some focus on recessionary risks. Companies mentioned: Netflix, DSM, Avient, Meta
US equity futures are indicating a flat open as of 05:00 ET, after being slightly higher just before 04:30 ET. Asian markets mixed overnight with China trading lower again. European equity markets opened lower in a cautious trade on their first trading day this week. Companies mentioned: Zendesk, China Merchants Bank
US equity futures are indicating a lower open as of 05:00 ET. Asian equities finished mostly weaker Monday in a quiet session. In Asia, China GDP data a focus as growth beat expectations. A large number of markets closed on Monday for the Easter holiday. Companies mentioned: TWTR
US equity futures are indicating a roughly flat open as of 05:00 ET. European equity markets are mostly higher, while Asian equities were broadly stronger on Thursday. The China market benefited from PBoC easing speculation. The ECB policy decision is the highlight on the European macro calendar today. The inflation impact on consumers is a key focus ahead of today's US retail sales report.
Companies mentioned: Starbucks, Warner Bros Discovery
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are narrowly mixed, while Asian equities were mixed on Wednesday. The latest Fedspeak is still advocating a quick return of the Fed funds rate to neutral. The big banks kick off Q1 earnings season today.
Companies mentioned: GlaxoSmithKline, Sierra Oncology, Twitter
US equity futures are flat just before 05:00 ET. European equity markets broadly lower; following a mostly weaker session in Asia. China stocks continue to travel outside the confines of global equity markets momentum, rising today just as the rest of Asia fell. Main highlight for US session is CPI data with annual data expected to hit highest level since 1981.
Companies mentioned: Deutsche Bank, Commerzbank, Tencent
US equity futures are indicating a lower open as of 05:00 ET. Asia lower Monday as markets in China were again under pressure with tech weighing due to Covid issues in Shanghai and renewed regulatory concerns. European markets have opened mixed to lower with the focus on bond markets and French politics.
Companies mentioned: Twitter, Tesla
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are higher, while Asian equities finished mostly higher on Friday.TheEU has banned Russian coal imports, and member states may target Russian oil in the next round of sanctions. France will vote for a new president on Sunday.
Companies mentioned: Biogen, Blackstone, Atlantia, Twitter
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mostly higher, while Asian equities finished weaker on Thursday with the Nikkei, Hang Seng and mainland China sharply lower. The recent backup in bond yields remains in focus as markets price in aggressive Fed tightening. Ukraine is calling for tougher sanctions on Russia to end the conflict.
Companies mentioned: Frontline, Euronav, Meta, Walmart
US equity futures are indicating a lower open as of 05:00 ET. Asian equities finished mostly lower on Wednesday with China stocks back under pressure, representing partial pullback from recent rally driven by China regulatory efforts to avoid US exchange de-listings. Europe opened lower with sentiment said to be cautious ahead of todays FOMC minutes.
Companies mentioned: JetBlue, Spirit, Gogo, Array Technologies, Lenovo
US equity futures are indicating a flat open as of 05:00 ET. Asian equities were mostly higher in a quiet session with Greater China and Taiwan markets closed for a holiday. European markets are higher early in their sessions.
Companies mentioned: Renault, Advent International, Centerbridge, Aareal Bank, Microsoft, Activision, Arcus Biosciences
US equity futures are indicating a slightly lower open as of 05:00 ET. Shares in Asia finished mostly higher on Monday while European markets are slightly lower early in their session. News of the concessions underpinned a surge in IT, internet and other growth stocks in Hong Kong, after Chinese regulators in altered a rule that will provide US regulators more detailed access to auditing reports.
Companies mentioned: KKR, Telecom Italia, Walgreens Boots Alliance, Delivery Hero
US equity futures are indicating a higher open as of 05:00 ET. European equity markets higher, following a mostly weaker session in Asian markets. Oil extends recent weakness after the US announced record release of strategic reserves
Companies mentioned: ATVI, Toshiba, Gamestop
US equity futures are indicating a slightly higher open as of 05:00 ET. European equity markets opened mostly higher, following a mixed to lower Asian trade. Nothing really new overnight in term of focus and headlines heading into the end of Q1.Some disappointment over a lack of progress in Russia-Ukraine ceasefire talks. Also outsized focus on potential recession signaling from curve inversion, though still a lot of debate about which spreads should get the most scrutiny.
Companies mentioned: Royal Bank of Canada, Brewin Dolphin
US equity futures are indicating a lower open as of 05:00 ET. European equity markets lower. Asia finished mostly higher , with China markets outperforming. The inversion of parts of the US Treasury curve is generating more debate about possible recession signaling though oversold conditions and peak market hawkishness are said to be playing into suggestions of a potential reversal.
Companies mentioned: UBS, AXIS Bank, Citi, Lululemon, Chewy
US equity futures are indicating a higher open as of 05:00 ET. European equities higher following a positive session in Asia. Bond volatility continues with yield curves bear flattening, with markets discounting economic slowdown.
Companies mentioned: FedEx, Dave & Busters
US equity futures are indicating a flat to lower open as of 05:00 ET. European equities higher Monday, following a mixed performance in Asia. Mainland China weaker with consumer stocks weighed down by a Shanghai lockdown. Bond markets and volatility also remain in focus.
Companies mentioned: InPost, CVC, Telecom Italia, UBER
US equity futures are indicating a slightly lower open as of 05:00 ET. The China stock rally has seemingly paused as traders reassess factors attributed for the rebound. European equities opened slightly softer.
Companies mentioned: Toshiba, CVC, Telecom Italia, DigitalBridge, Telenet
US equity futures are indicating a slightly lower open as of 05:00 ET. The Fed raised rates by 25 bps yesterday as expected, with early takeaways leaning hawkish. The focus in Europe today is on the BoE policy decision later; widely expected to raise rates by 25 bps. Chinese equities continue to rally following promises of economic support.
Companies mentioned: Microsoft, OVHCloud, Datto, KKR, Mitsubishi, UBS
US equity futures are indicating a higher open as of 05:00 ET. The market's improved risk appetite reflects hopes for a diplomatic solution in Ukraine and expectations for China policy stimulus. The Fed will meet at 14:00 ET today, where it is expected to hike by 25 bp. The bigger focus will be on the dot plot amid predictions that the 2022 median will show six hikes vs three in December.
Companies mentioned: EQT, Avast, NortonLifeLock
US equity futures are indicating a lower open as of 05:00 ET. Further substantial pressure on Chinese equities today with even a mid-morning rally petering out after an hour. European equity markets also weaker. The selloff in China equity markets the focus overnight, as the recent Covid outbreak compounds existing pressure on stocks from the latest regulatory developments and geopolitical tensions
Companies mentioned: Coupa Software, Telecom Italia, Apollo
US equity futures are indicating a higher open as of 05:00 ET. European equity markets mostly higher. Follows a mixed Asian trade which saw Japan and Australia move higher while Greater China markets fell under pressure. The Hang Seng saw a steep selloff with the tech sector underperforming. Busy weekend of Ukraine headlines although reports of more upbeat assessment of talks between Ukraine and Russia on Sunday.
Companies mentioned: Volkswagen,Hon Hai Precision Industry, Apple, Google, Rio Tinto, Turquoise Hill
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mostly weaker Asian markets. President Biden is set to call for an end to Russia's preferred trade status, while the EU is weighing additional sanctions on Russia. Iran nuclear talks remain at an impasse over Russia's demand for sanctions relief.
Companies mentioned: Oracle, DoorDash
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following mostly firmer Asian markets. Amazon announced a 20-for-1 stock split and a share buyback of up to $10B. The macro focus today is on US CPI data.
Companies mentioned: Amazon, Brookfield, Blackstone, Boeing, Citigroup
US equity futures are indicating a higher open as of 05:00 ET. Geopolitical instability remains a major driver of risk sentiment as fighting in Ukraine continues. A lot of discussion around the US and UK ban of Russian crude imports, as White House efforts to increase supply elsewhere so far not yielding results. Greater China saw a sharp selloff in the afternoon after Norway's sovereign wealth fund pulled its investment in Li Ning.
Companies mentioned: Li Ning, Bumble
US equity futures are indicating a higher open as of 05:00 ET. Equity markets in Europe and US futures have moved higher early this morning following reports that the EU will unveil a plan to jointly issue bonds on a potentially massive scale to finance energy and defense spending to cope with the fallout from the Ukraine conflict.
Companies mentioned: KKR, Albioma, Microsoft , Google GOOG, Mandiant
US equity futures are indicating a lower open as of 05:00 ET. Asia equities finished their Monday sessions sharply lower and European equities as are also down significantly after reports the US is in talks to ban Russian oil imports, this has fueled sharp oil price gains and plays into worries over global supplies . Multiple commodities including wheat, nickel and oil have seen significant spikes.
Companies mentioned: AGL Energy, Brookfield, Occidental Petroleum, Bed Bath & Beyond
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are sharply lower, following broad weakness in Asia. Russia has shelled the site of Ukraine's nuclear power station, but no change in radiation levels has been detected. US Nonfarm Payrolls is the key data release today.
Companies mentioned: Amazon, MGM, Visa, Walt Disney, Panasonic, Tesla
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following mostly higher Asian markets. Markets have all but ruled out a 50 bp Fed rate hike following Fed Chair Powell's House testimony. Reports suggest that Russian troops may have seized control of a first big Ukrainian city. The macro focus is on services PMIs today.
Companies mentioned: Allscripts Healthcare Solutions, Constellation Software, AT&T, Discovery
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following mostly weaker Asian markets. Ukraine and Russia will hold more talks in the coming days, as Russian troop movement points to an intensification in attacks on Kyiv. President Biden delivered his State of the Union address, saying that bringing down inflation is a top priority, with a focus on strengthening domestic supply chains and lowering costs.
Companies mentioned: Netflix, Next Games, Ford
US equity futures are indicating a lower open as of 05:00 ET. European equity markets broadly lower, following mostly firmer Asian markets. Ukraine-Russia dominates headlines as fallout from the financial and economic sanctions on Russia continues amid concerns developments could worsen inflation. Asia saw a steady if unspectacular rally with many bourses opening in the red only to turn around on optimism for the Russia-Ukraine talks that are set to resume, and also on some stronger-than-expected PMI data sets
Companies mentioned: Amazon, Taiwan Semiconductor, J&J, Legend Biotech, Toshiba
US equity futures are indicating a lower open as of 05:00 ET. European equity markets lower, following a mixed Asian trade. Market volatility pulled around by news around Ukraine. Shares sold off first thing during the Asian Monday morning as, over the weekend, Western powers stepped up sanctions on Russia by excluding some of its banks from SWIFT and limiting its central bank from deploying FX reserves. Some relief seen as markets recovered a bit on reports Ukraine and Russia were preparing to meet in Belarus.
Companies mentioned: BP, Rosneft, Toshiba, Bayer, Cinven, Chorus Aviation, Chevron, Renewable Energy
US equity futures are indicating a lower open as of 05:00 ET. European equity markets higher, Asian stocks also firmer. Western powers imposed fresh sanctions against Russia, however, measures fell short of most serious measures.
Companies mentioned: Carvana, KAR Auction Services, Healthcare Trust of America, Healthcare Realty Trust, Volkswagen, Porsche Automobil Holdings
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are sharply lower, following deep losses in Asia. Russian President Putin announced special military operations in Ukraine, setting in motion a full-scale invasion of the country. TheEU has imposed fresh sanctions on Russia, with more penalties to be discussed today. US President Biden will meet with allies today.
Companies mentioned: Meta, eBay
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are seeing broad gains, following mostly higher levels in Asia. The Russia/Ukraine crisis is dominating headlines.The proposed Biden-Putin summit, and Blinken-Lavrov meetings are off the table, after Biden said that an invasion is underway. Biden's sanctions on Russia are less severe than feared.
Companies mentioned: Telecom Italia, KKR, Ovintiv
US equity futures are indicating a lower open as of 05:00 ET. European equity markets lower, but off worst levels and following broad losses in Asia. Risk-off moves widely attributed to the increasing tensions in Ukraine. Russian President Putin recognized two breakaway regions of eastern Ukraine, with immediate condemnation coming from US and European leaders in response.
Companies mentioned: Alibaba, Tencent, Apple, Raytheon, Lockheed Martin, Ant Group
US equity futures are indicating a higher open as of 05:00 ET. European equity markets mixed to higher following a mixed Asian trade. Market taking encouragement from signs of diplomatic effort to defuse Russia-Ukraine tensions after US Secretary of State Blinken and Russian Foreign Minister Lavrov agreed to meet next week.
Companies mentioned: Celanese, DuPont, Tencent, Alibaba, Renault, Allianz
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mostly lower, following mixed Asian trade. Geopolitical risk is still dominating headlines, as Russian-backed separatists in eastern Ukraine accused government forces of a mortar attack. The USTR's annual report to Congress on China's WTO compliance reaffirmed US criticism of China's trade practices.
Companies mentioned: Amazon, Hasbro, Spotify
US equity futures are indicating a slightly higher open as of 05:00 ET. European equity markets are higher following a mixed Asian trade. Hong Kong and Shanghai turned negative on reports 33 Chinese entities would be added to the US Commerce Department's unverified list, as well as concerns over US export restrictions on Chinese tech companies.
Companies mentioned: NVIDIA, Softbank, BNP Paribas
US equity futures are indicating a lower open as of 05:00 ET. European equity markets mixed. Follows mixed Asian trade. Mainland China benchmarks ended higher on Monday with Shanghai up 2.03% and Shenzhen 1.04% higher in their first day of trading since the Lunar New Year holiday break.
Companies mentioned: Peloton, Nike, Amazon, Toshiba, Unilever
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mixed, with the German DAX underperforming amid weakness in the auto/parts sector. Asian equities finished largely higher . Central banks remain in focus amidsts recent hawkish leans in policy. On the macro front In focus today will be US nonfarm payrolls
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are mostly lower, following mixed Asian trade. Attention is on corporate earnings with disappointing results posted by Meta and Qualcomm after Wall Street's close yesterday. Central bank developments are in focus today with ECB and BoE meetings taking place.
Companies mentioned: Meta, Qualcomm
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following higher levels in Asia. Attention is on corporate earnings with strong results posted by Alphabet and AMD after Wall Street's close yesterday. Eurozone inflation hit a new record of 5.1%, much stronger than forecast. The US and Russia are still working on a diplomatic solution to tensions on the Ukraine border.
Companies mentioned: Google, AMD, PayPal
US equity futures are indicating a lower open as of 05:00 ET. European equity markets broadly higher, following a quietdue to the lunar new year holiday.In Europe Macro focus on final PMI readings from the Eurozone and UK. Australia's RBA announced an end to QE, as expected, however, forward commentary leaned dovish .
US equity futures are indicating a higher open as of 05:00 ET. Asia equities finished mixed on Monday in light
trading amid the Lunar New Year holidays. European indices are higher early in their sessions.
Companies mentioned: Vodafone, Citrix Systems,
US equity futures are indicating a flat to slightly lower open as of 05:00 ET. European equity markets broadly lower, following mixed but mostly higher levels in Asia. Fed rate hike expectations remain a headwind with markets still seemingly digesting this weeks FOMC meeting.
Companies mentioned: Google, Bharti Airtel, DBS Group, Citibank, Tencent, DouYu
US equity futures are indicating a higher open as of 05:00 ET, as S&P futures have moved into postive territory over the last hour. European equity markets are mixed-to-lower after recovering from session lows, while Asian indices were sharply lower overnight. Yesterdays Fed policy statement in focus as it appeared to validate views of a March rate liftoff and Chair Powell did not rule out a more aggressive rate hike path.
Companies mentioned: Evergrande, Meta, Netflix, Pershing Square
US equity futures are indicating a higher open as of 05:00 ET. European markets are notably higher early in their session. This follows a mixed Asia trade with Japan finishing lower. All eyes on the FOMC today as the Fed is expected to layout a rate path for rest of the year and signal likelihood of a March rate liftoff.
Companies mentioned: Microsoft, Meta
US equity futures are indicating a lower open as of 05:00 ET. European equities are broadly higher, following under pressure Asian markets. The US has put 8,500 troops on high alert for possible deployment to Eastern Europe. This week's FOMC is expected to set the stage for a March rate liftoff.
Companies mentioned: Change Healthcare, UnitedHealth, Nvidia, SoftBank, LyondellBasell Industries, IBM
US equity futures are indicating a higher open as of 05:00 ET. European equities broadly lower Monday.This follows a mixed session in Asia although the Nikkei and ASX finished well off lows, buoyed by PBOC policy easing. Central banks in focus with this week's FOMC meeting seen as likely to give the clearest indication yet on Fed thinking on the timing of rate hikes and balance sheet reductions.
Companies mentioned: Peloton, Kohl's, Wynn Resorts, Google, Unilever
US equity futures are indicating a lower open as of 05:00 ET. European equity markets are lower, following broad weakness in Asia. Corporate developments are negative after Netflix guided subscriber numbers well below expectations. Bond volatility remains a feature, with yields sharply lower following rate stabilization on Wednesday.
Companies mentioned: Netflix, Peloton Interactive, Apple
US equity futures are indicating a higher open as of 05:00 ET. European equity markets are mostly lower, following mixed Asian trade. China loan prime rate cuts overnight were mostly in line with expectations. The push to remove UK PM Johnson looks like it may have fizzled out for now.
Companies mentioned: United Airlines, Uber, Chesapeake Energy
US equity futures are indicating a higher open as of 05:00 ET after paring overnight losses. European equity markets are mostly higher, following broad losses in Asia. Bond yields are extending the recent move higher; US 10-year yields are at 1.89%, while the German Bund yield is positive for the first time since 2019.
Companies mentioned: Zogenix, UCB, BJ's Wholesale Club, Alliance Data Systems, Capital One Financial
US futures are indicating a lower as of 05:00 ET, following the MLK day holiday. European equity markets lower, with technology underperforming amid backup in yields. This follows mostly weaker levels in Asia. Bond volatility remains elevated with front end of US curve leading broader backup in rates.
Companies mentioned: Toyota, NeoGames, Aspire Global, Unilever, GlaxoSmithKline, Citigroup, DBS
US futures are indicating a higher open as of 05:00 ET. European equity markets are mostly lower, following mostly lower levels in Asia. Much of the focus remains on Fed policy as overnight Asian markets moved lower following-through from yesterdays tech-led selloff on the Nasdaq and after recent hawkish Fedspeak.
Companies mentioned: Citigroup, UOB Group, SAP, Tesla
US futures are indicating a broadly flat open as of 05:00 ET. European equity markets are mostly lower, following mostly weaker levels in Asia. Attention remains on yesterday's US CPI release, with the data supporting expectations of a Fed rate liftoff in March. The hawkish Fed rhetoric continues, and the Dollar extends weakness.
Companies mentioned: Apple, Blackstone, Crown Resorts, Citigroup
US futures are indicating a slightly higher open as of 05:00 ET. European equity markets are higher, following broad strength in Asia overnight. The World Bank cut global growth forecasts for 2022. Global attention will be on US inflation later today.
Companies mentioned: Lockheed Martin, Aerojet, Dish Network, AT&T, Exxon Mobil, Biogen
US futures are indicating a higher open as of 05:00 ET. Asian equities were mixed overnight with Covid concerns weighing on Japan and greater China. European markets are higher with technology, reopening stocks and cyclicals doing well. Some positive sentiment said to be flowing over from yesterdays bounce in the Nasdaq.
Companies mentioned: Darktrace, Apple, Intel, Micron Technologies, Delivery Hero, Nokia