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Rise and shine everyone
US Equity Futures are trading marginally higher; Bitcoin and Gold remain higher. US Dollar pulls back alongside Oil. The Yield Curve steepens slightly to -0.97%
Walgreens Boots Alliance reported this morning. Misses by $0.07, beats on revs; guides FY23 EPS below consensus; immediate actions to improve profitability including $600 million of incremental cost savings. Shares are down over -7% in pre-market trading.
IMF's Gopinath says central banks may have to tolerate longer period of above-target inflation to avoid financial crisis
Asia and Australia
Asian equities finished mixed Tuesday. Greater China led by a surge on the Hang Seng, which gained almost 2%, strong gains in mainland bourses too.
Chinese premier Li Qiang said China is still on track to hit its annual growth target of around 5% and Q2 growth expected to be faster than Q1.
PBOC set its daily yuan reference at a stronger-than-expected level for a second day. Onshore yuan rate set at 7.2098 per dollar, 111 pips stronger than Bloomberg estimate.
Baidu says its ChatGPT-style service has outperformed OpenAI's on key measures
Consumer-led slowdown in Australia gathering pace following trading updates from discretionary retailers over past month that highlighted a sharp drop in demand.
Europe, Middle East, Africa
European equity markets edge lower after giving up earlier gains. EuroStoxx volatility index jumped above 17 for the first time in more than 3 weeks on Monday.
ECB's Lagarde says rate hike pauses possible in coming months, but end of cycle not near
BoE seen implementing two more 25 bp rate hikes in coming meetings; will likely tip UK into recession
Volkswagen cuts EV production at Emden citing weak demand
The UK government announced it will sign a cooperation pact with the EU in financial services
The Americas
Robinhood to lay off 7% of workforce amid decline in trading activity
Blackstone considering offers for half its interest in real estate of Bellagio hotel, reported by Bloomberg. This comes after news of Blackstone selling industrial properties to Prologis.
Quarter-end rebalancing could drive outsized equity selling
Google axes development of Iris augmented-reality glasses - Business Insider, citing people familiar with the matter
Delta Airlines raises guidance ahead of investor day.
Calendars
(news taken from Reuters, FT, Bloomberg; Calendar from Benzinga Pro)
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