(Bloomberg) — Equity markets slipped on Wednesday after tech giant Microsoft Corp. and a slew of other major firms forecast slowing earnings, while lackluster US business activity data reminded investors of the likelihood of recession in the world’s biggest economy.
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Contracts for the Nasdaq 100 fell more than 0.5%, after a two-day rally in the underlying index ground to a halt on Tuesday when Microsoft warned of decelerating revenue growth in its cloud-computing business. Earnings reports from companies such 3M Co. and chipmaker Texas Instruments Inc. also reinforced concerns about the health of corporate America and added to investors’ jitters as they await updates from the likes of Tesla Inc. and IBM Corp.
Europe’s Stoxx 600 equity index weakened too, with shares in major software firms such as SAP SE and Sage Group Plc. feeling the heat from Microsoft and Dutch chip-tool maker ASML Holding NV posting a profit miss.
“The risks that dominated 2022 trading would seem to still pose major hurdles to a lasting equity bull market; namely, economic uncertainty, approaching recession, and a hawkish Fed actively wanting to keep financial conditions from loosening,” Bank of America strategists told clients in a note.
The Federal Reserve is widely expected to raise interest rates by 25 basis points at its upcoming meeting and expectations it will soon wind down its policy-tightening cycle have weighed on the dollar and Treasury yields. The dollar, down around 1.8% this year, was hurt on Tuesday by data showing US business activity still in contractionary territory.
However, the greenback’s gauge held around flat on Wednesday, as the yen, euro and pound retreated and the global market mood soured.
The euro slipped for the first time in six sessions, while the pound edged lower as data showed sharp declines in factory costs, fanning speculation that the Bank of England is close to completing its rate-hiking cycle. The Australian dollar on the other hand jumped to the highest since August after scorching inflation figures, that boosted rate-hike bets and sent 10-year Australian yields soaring about 10 basis points.
Elsewhere, oil prices steadied after Tuesday’s sharp decline caused by the weak US business activity, while gold inched lower after recent gains that pushed the precious metal to the highest level since April.Bitcoin fell as much as 2.5% and faced its first two-day drop this year.
Клучни настани оваа недела:
Earnings for the week include: Abbott Laboratories, ASML Holding, AT&T, Boeing, International Business Machines, NextEra Energy, Tesla (Wednesday); American Airlines, Blackstone, Comcast, Diageo, Intel, LVMH Moet Hennessy Louis Vuitton, Mastercard, SAP, Southwest Airlines, Visa (Thursday); American Express, Charter Communications, Chevron, HCA Healthcare (Friday)
Апликации за хипотека во САД за МБА, не-производствена активност на ФЕД во Филаделфија, среда
US fourth-quarter GDP, new home sales, initial jobless claims, Thursday
US personal income/spending, PCE deflator, University of Michigan consumer sentiment, pending home sales, Friday
Некои од главните потези на пазарите:
Акции
S&P 500 futures fell 0.3% as of 3:37 a.m. New York time
Фјучерсите на Nasdaq 100 паднаа за 0.6%
Фјучерсите на Dow Jones Industrial Average паднаа за 0.2%
Stoxx Europe 600 падна за 0.1%
Индексот MSCI World беше малку променет
Фјучерсите на S&P 500 паднаа за 0.3%
Фјучерсите на Nasdaq 100 паднаа за 0.6%
Азиско-пацифичкиот индекс MSCI порасна за 0.3 отсто
Индексот на пазарите во развој MSCI се зголеми за 0.2%
Валути
Индексот на точка на долар на Блумберг беше малку изменет
Еврото малку се промени на 1.0889 долари
Британската фунта беше малку променета на 1.2327 долари
Јапонскиот јен беше малку изменет и изнесуваше 130.27 долари за долар
Офшор јуанот порасна за 0.1% на 6.7746 за долар
Cryptocurrencies
Биткоинот падна за 0.9% на 22,690.21 долари
Етерот падна за 3% на 1,551.68 долари
обврзници
Приносот на 10-годишните трезори се намали за еден базичен поен на 3.44%
Германскиот 10-годишен принос се намали за три базични поени на 2.13 отсто
Британскиот 10-годишен принос се намали за четири базични поени на 3.23 отсто
СТОКИ
Цената на нафтата „West West Intermediate“ порасна за 0.2% до 80.33 долари за барел
Фјучерсите на златото паднаа за 0.1% до 1,949.60 долари за унца
Оваа приказна е направена со помош на Bloomberg Automation.
– Со помош на Ричард Хендерсон.
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Source: https://finance.yahoo.com/news/asian-stocks-stumble-tech-damps-004428261.html