Europe Market Open: Israeli strikes avoid Iran's energy infrastructure; Japan's LDP loses majority

European bourses & US futures are entirely in the red; Tech lags stateside given META & MSFT while European banks slipJPY leads post-BoJ with USD lower into PCE & weekly jobs, EUR unreactive to HICP while Cable nears 1.30Gilts remains for sale though the morning's DMO auction went well, EGBs and USTs soft in tandem with yields bid and curves flatteningCrude ultimately firmer with two-way geopolitical updates factoring, XAU softer after fading from another ATH, base metals mixed after similar China dataHighlights include US Challenger Layoffs, PCE (Sept), Initial Jobless Claims, Employment Costs, Canadian GDP, NZ HLFS Jobs.Earnings from Apple, Mastercard, Merck, Uber, Comcast, Eaton, ConocoPhillips, Bristol-Myers Squibb, Southern Company, Intercontinental Exchange, Cigna, Altria, Kellogg, Roblox, Ball Corporation, International Paper, Hyatt HotelsRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly subdued following the negative handover from the US; participants also digested mixed Chinese PMIs.BoJ kept rates unchanged as expected and refrained from any fresh policy clues.European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.5% after the cash market closed lower by 1.3% on Wednesday.US equity futures (ES -0.5%, NQ -0.7%) were hampered by after-market earnings from Meta (-3.1% after-hours) and Microsoft (-3.7% after-hours).DXY is steady and just above the 104 mark, JPY leads peers post-BoJ with other majors steady.Looking ahead, highlights include German Retail Sales, EZ CPI, US Challenger Layoffs, PCE (Sept), Initial Jobless Claims, Employment Costs, Canadian GDP, NZ HLFS Jobs, Comments from BoJ Governor Ueda & BoE’s Breeden, Supply from the UK.Earnings from Mastercard, Merck, Linde, Uber, Comcast, Eaton, ConocoPhillips, Bristol-Myers Squibb, Regeneron Pharmaceuticals, Southern Company, ICE, Cigna, Altria, Estee Lauder, Kellogg, International Paper, Hyatt Hotels, Mobileye, Norwegian Cruise Line, Universal Music Group, ING, BBVA, Caixabank, Repsol, Societe Generale, STMicroelectronics, TotalEnergies, BNP Paribas, Carlsberg, Haleon, Shell, Smith & Nephew, Intesa Sanpaolo, Prysmian, StellantisRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses opened in negative territory and continued to trundle lower as the morning progressed, Tech lags post-AMDStateside, futures are firmer but only modestly so with Alphabet supporting as AI bolstered cloud performanceDXY briefly dipped below the 104.00 mark, EUR aided by hawkish-data while GBP awaits the budgetUSTs continue to gain after Tuesday's 7yr into Refunding, Bunds weighed on by dataCrude firmer after the surprise inventory draw with specifics otherwise somewhat light, XAU at another ATHLooking ahead, German Inflation, US ADP, PCE Prices/GDP Advance (Q3), Japanese Retail Sales, UK Budget, ECB’s Schnabel, BoC’s Macklem & Rogers and US Quarterly Refunding.Earnings from Eli Lilly, AbbVie, Caterpillar, ADP, Kraft Heinz, Hess, GE HealthCare, Humana, Garmin, Biogen, Bunge, Microsoft, Meta, Amgen, Booking Holdings, Starbucks, DoorDash, MetLife, Coinbase, MicroStrategy, Robinhood, Carvana, MGM Resorts, Roku.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly lower after the mixed performance stateside and as participants braced for this week's key risk events.Alphabet Inc (GOOGL) Q3 2024 (USD): Adj. EPS 2.12 (exp. 1.84), Revenue 88.27bln (exp. 86.31bln). Co. shares were higher by 5.9% after-hours.European equity futures are indicative of a weaker cash open with the Euro Stoxx 50 future -0.4% after the cash market closed lower by 0.4% on Tuesday.DXY is steady on a 104 handle, EUR/USD maintains 1.08 status, Cable hovers around the 1.30 mark ahead of the UK budget.Looking ahead, highlights include French GDP, Spanish CPI, German Unemployment Rate, German GDP, German Inflation, US ADP, PCE Prices/GDP Advance (Q3), Japanese Retail Sales, UK Budget, ECB’s Schnabel, BoC’s Macklem & Rogers, Supply from Italy & US.Earnings from Eli Lilly, AbbVie, Caterpillar, ADP, Kraft Heinz, Hess, GE HealthCare, Humana, Garmin, Biogen, Bunge, Microsoft, Meta, Amgen, Booking Holdings, Starbucks, DoorDash, MetLife, Coinbase, MicroStrategy, Robinhood, Carvana, MGM Resorts, Roku, Next, Standard Chartered, GSK, Airbus, Schneider Electric, Biomerieux, Amundi, Nexans, Worldline, Capgemini, Endesa, Aena, Sandoz, UBS, Volkswagen, BASF.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were ultimately mixed alongside a lack of fresh catalysts heading into this week's key data releases.European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 0.5% on Monday.In FX, DXY is steady, JPY is attempting to claw back recent losses, antipodeans marginally lag, EUR/USD remains on a 1.08 handle.The Israeli cabinet decided there could be another response against Iran soon, according to Channel 13.Looking ahead, highlights include US Advance Goods Trade Balance, Wholesale Inventories, US Consumer Confidence, JOLTS, BoC Governor Macklem & Rogers, Supply from UK, Germany & US.Earnings from McDonald's, Pfizer, PayPal, D.R. Horton, Phillips 66, Royal Caribbean, MSCI, Corning, Sysco, Alphabet, Visa, AMD, Stryker, Chubb, Mondelez, Chipotle, EA, Snap, ASM International, Saint Gobain, Ferrovial, Santander, Novartis, Clariant, BP, Pearson, Deutsche Lufthansa, Covestro & OMV.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are on a firmer footing, traders garnering optimism following the relatively moderate Israeli attack on Iran, which saw the former avoid hitting energy/nuclear facilities; US futures also benefit.USD is mixed, losing vs EUR & GBP but significantly stronger vs JPY after the Japanese general election which has seen the ruling coalition lose its parliamentary majority.Bonds are pressured by the removal of geopolitical risk premia, but have lifted off lows in recent trade given the continued pressure in oil prices.Crude gapped lower overnight and has continued to slip since the European cash open; Brent Jan’25 currently at lows of USD 71/bbl. XAU/base metals are also pressured.Looking ahead, Japanese Unemployment, Comments from BoC Governor Macklem & ECB’s de Guindos, Supply from US, Earnings from Waste Management, Welltower, Ford.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly positive as markets digested key events over the weekend including Israel's strike on Iran and the Japanese election.Israel's strike on Iran was aimed at military targets and not petroleum or nuclear facilities; Iran President said will respond.Japan’s ruling coalition lost its parliamentary majority in Sunday’s election; the ruling party may seek partners in an effort to form a government.European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed higher by 0.2% on Friday.JPY lags peers post-election, DXY is a touch higher, EUR/USD is sub-1.08 and Cable remains on a 1.29 handle.Looking ahead, highlights include Japanese Unemployment, Comments from BoC Governor Macklem & ECB’s de Guindos, Supply from US, Earnings from Philips, ON Semiconductor, Waste Management, Welltower, Ford, Wacker Chemie, KPN & PhilipsRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses hold a slight positive tilt after initially opening on a modestly weaker footing; US futures are entirely in the green.Dollar is flat ahead of Durable Goods, JPY was fairly unreactive to mixed Tokyo CPI.USTs are flat but directionally in-fitting with the pressure seen in Bunds, sparked by strong German Ifo metrics.Crude is very modestly firmer but ultimately within a contained range, XAU/base metals are pressured.Looking ahead, US Durable Goods, UoM (Final), Moody's on France, Comments from Fed's Collins, Earnings from Colgate-Palmolive.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks bolstered by the the Wall St. handover though with upside capped given ongoing geopolitical uncertaintyFX relatively contained with specifics light in overnight tradeFixed benchmarks remained afloat, JGBs edged mild gains after mixed Tokyo CPICrude benchmarks attempted to nurse Thursday's losses, metals rangebound echoing FXLooking ahead, highlights include EZ M3, German Ifo, US Durable Goods, UoM (Final), Moody's on France, Comments from Fed's Collins, Earnings from NatWest, Porsche, Mercedes-Benz & Colgate-PalmoliveClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are entirely in the green and reside just off session highs; US futures also gain, with NQ outperforming after strong TSLA (+10.7%) results.Dollar is on the backfoot giving back some of this week’s gains, JPY outperforms with USD/JPY scaling back to a 151 handle.USTs/Bunds are on a firmer footing, with EZ PMIs continuing to paint a dire picture in Europe; Gilts are the clear underperformer amid reports that Chancellor Reeves will announce major changes to fiscal rules releasing GBP 50bln for spending.Crude continues to pick up, catching a bid following unconfirmed reports which indicated a fire in proximity to an Iranian nuclear facility in Karaj; XAU/base metals are firmerLooking ahead, US Flash PMIs, US Weekly Claims, New Home Sales, ECB's Lane & McCaul, Fed's Hammack, BoE's Bailey & Mann.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk