Financial markets around the world are preparing for rate hikes as lagging central banks in the U.S., U.K,, EU, and Australia lift rates. Central banks after a decade of supporting negative rates are preparing to hike rates as a 4-decade high inflation rages around the world.
Market indexes reversed losses in the final hour of trading lifting the Nasdaq 1.6% and the S&P 500 0.6%. 10-year U.S. Treasury bond yield rose to 3%. European and Asian markets struggled with rising prices and slowing economic activities.
London-based HSBC is facing pressure from its largest shareholder Ping An to break itself up. China-controlled insurance company Ping An suggested a plan to separate its Asian operations from the West.
HSBC
HSBC
U.S. stock futures showed negative bias as investors reprice assets with economic recession in view. The Fed is scheduled to release its monetary policy statement on Wednesday. Investors are looking ahead to earnings from MGM Resorts, Expedia, Lyft, Uber, and Starbucks.
Boeing dropped on revenue miss and larger loss. CME Group jumped on higher revenues. F5 Inc outlook disappointed. NCR plunged on revenue miss and unexpected loss. CoStar quarterly revenues jumped. Visa lifted annual outlook. Skechers USA revised higher quarterly and annual outlook range.
BA CSGP CVNA NCR V
BA CSGP CVNA NCR V
Benchmark indexes opened higher a day after the Nasdaq Composite index dropped to a new low in 2022. European markets rebounded and Russia halted gas deliveries to Poland and Bulgaria. In Asia, indexes in Japan and India dropped but in Shanghai rebounded.