Newsquawk Rundown, Daily Podcast

The S&P 500 and Nasdaq extended on record highs led by growth and techAsian equity markets traded cautiously as participants digested disappointing Chinese PMI dataChinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 monthsThe DXY remains subdued just above 92.50, EUR/USD has traded on either side of 1.18, NZD outperforms after reclaiming...

European equity bourses and US futures are modestly firmer but near unchanged levels in minimal newsflow; ES +0.1%, RTY +0.3%USD is bid but the index remains sub-93.00 as antipodeans and CHF take the brunt of the downside while core debt is marginally firmerChina has unveiled new restrictions on young people playing online games, Xinhua; separately, China is said to ask brokers to increase supervision of margin tradingOil producers in the...

Asia-Pac stocks were mostly positive with the region mildly taking impetus from last Friday's gains on Wall StThe S&P 500 and Nasdaq extended on record highs post-PowellIn FX, the DXY remains softer and sub-93.00, EUR/USD has reclaimed 1.18 statusThe SPD has continued to make further gains in the latest polling data with Scholz coming out on top in the latest debateOil producers in the Gulf of Mexico shut in...

European bourses are little changed while US futures have a marginal upward bias in limited newsflow pre-PowellFed speak via just Bostic thus far, who stuck to his familiar 'hawkish' language around a taperThe DXY straddles 93.00 and is marginally softer with peers contained; core debt is slightly softer but well within proximity to the U/C markFurther reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard...

Asia-Pac bourses traded mixed although have shown an improvement compared to the losses in global counterpartsLosses in the US came in the context of recent hawkish Fed rhetoric ahead of Powell and events in AfghanistanThe DXY straddled 93.00 amid a non-committal tone and contained price action in the FX spaceFurther reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard could be appointed as...

European bourses are softer across the board with US futures also pressured albeit to a lesser extent, ES -0.1%DXY is firmer but capped by 93.00 with peers subdued across the board while debt continues to pullback but has stabilised slightly most recentlyFresh newsflow has been sparse and largely on geopols/COVID-19 boosters and as such not moving the macro dialThe BoK became the first major Asian central bank to hike rates since the...

Asia-Pac stocks traded cautiously amid a deluge of earnings releases and as markets await Jackson HoleUS equity futures trickled lower overnight following another consecutive day of record highs on Wall StThe BoK became the first major Asian central bank to hike rates since the pandemic beganIn FX, the DXY remains lacklustre beneath 93.00, EUR/USD and GBP/USD remain steady on 1.17 and 1.37 handles...

European equity bourses/US futures are essentially unchanged amid minimal newsflow in the European morning; ES +0.1%The DXY has been choppy within ranges and currently sub-93.00 with peers mixed but near-unchanged; debt is downbeat after earlier upside fizzled out in EGBsUS VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullyingThe House voted to approve the USD 3.5tln budget blueprint and advance...

Asian stocks traded somewhat mixed and failed to fully sustain the early momentum from the USThe S&P 500 and Nasdaq extended on record highs amid notable strength in cyclicalsUS VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullyingThe House voted to approve the USD 3.5tln budget blueprint and advance the USD 1tln infrastructure billThe DXY heads into the European...

US equity futures are firmer off-best levels, with NQ modestly outperforming while European bourses are mixed/lower after a firmer startIn FX, the DXY trades above 93.000, EUR/USD encountered resistance ahead of 1.1750 while Cable briefly lost 1.37 and antipodeans outperformRBNZ's Hawkesby said the RBNZ considered raising the OCR by 50bps at the recent meeting; decided to hold rates due to a communications challenge not economic risks.US...