TOP MARKETS NEWS: Week 05/01 – 05/07

May 1, 2023
  

Weekend 05/06 & 05/07

Newsquawk Week Ahead 8-12th: US CPI, Fed SLOOS, UK GDP, China Inflation, BoJ SOO – forexlive
Top 5 things to watch in markets in the week ahead
COLUMN-Markets brace for one-two US credit conditions punch: McGeever – Reuters
Fed’s Progress on Inflation Set for Latest Test – bbg

Wall Street Is in No Mood to Celebrate the Fed’s Last Rate Hike – bbg
Debt-Ceiling Standoff Hurts Economy Even Without Default: Q&A – bbg
Berkshire Hathaway Boosts Pace of Share Buybacks to $4.4 Billion – bbg
Oil Crash Sends Speculators Fleeing at Fastest Pace in Six Weeks – bbg
World Trade Data Begin to Show Early Signs of ‘Reglobalization’ – bbg
Charting the Global Economy: Fed, ECB Policies May Diverge – bbg
Burden or Benefit? The Economics of King Charles’ Coronation – bbg
US Bank-Run Escalates: Deposit Outflows Top $360 Billion In Last 3 Weeks – Zerohedge
Wall Street Week Ahead: U.S. Consumer Price Data to Test Feared Stagflation Scenario – Reuters

 

Friday 05/05

Business Live – guardian
JPMorgan Defends Regional Banks Even as Negative Sentiment Hits 2008 Highs – bbg

US Bank Lending Rises for Fourth Week, Led by Small Institutions – bbg
US Bank Lending Touches Record as Deposits Fall, Fed Data Shows – Reuters
Stocks and yields soared into the weekend amid hot jobs data and regional banks/AAPL surging – Newsquawk US Market Wrap
Despite Big Bounce, Banks & Crude End Week Down Hard; Gold At Record Highs – Zerohedge
Dow jumps 500 points to break four-day losing streak as regional banks and Apple shares surge – cnbc
US Consumer Borrowing Climbs on Surge in Credit Card Balances – bbg
Consumer Credit Shocker: Credit Card Debt Explodes At 2nd Fastest Pace On Record Just As Rates Hit All-Time High – Zerohedge
Fed’s Bullard: ‘Open Mind’ on June Meeting, Though Rates Still May Need to Rise – Reuters
Fed Can Still Achieve Soft Landing, Bullard Says – bbg
Stocks making the biggest moves midday: Apple, Lyft, Carvana, VF Corp and more – cnbc
Used-Car Prices Fall in April as Rising Rates Start to Erode Sales – bbg
Refinitiv Data Shows Further Improvement in Q1 U.S. Earnings Forecast – Reuters

US PREMARKET
Stocks making the biggest moves premarket: Cigna, Apple, DraftKings, Lyft & more – cnbc
Futures Rise Ahead Of Payrolls To End Week Of Bank Turmoil – Zerohedge
Three make-or-break crises impacting the US – ing
Ignore The Noise: Job Market Is Cracking As Birth-Death Model “Adds” Near Record 378,000 Jobs – Zerohedge
April Payrolls Smash Expectations After Huge Downward Revisions; Black Unemployment Hits Record Low – Zerohedge
Hot Jobs Report Raises Odds Fed Keeps Rates Higher for Longer – bbg
Solid April US Jobs Report Undermines Case for Fed Cut Soon – Reuters
US Job Gains and Wages Pick Up, Signaling Labor Resilience – bbg
US Jobs Data Keep On Defying Expectations for Imminent Slowdown – bbg
Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows – cnbc
Fed Rate-Hike Pause No Reason to Buy Stocks, BofA Says – bbg
“Going To Be Bumpy”: World’s Largest Container Shipper Warns Of Downturn – Zerohedge
JPMorgan Sees Investors Moving to Gold, Tech Amid Recession Risk – bbg
Goldman, BofA Strategists See Glum 2023 Global Profit Growth – bbg
ECB Officials Get Behind Lagarde’s Pledge of More Rate Hikes – bbg
Visualizing The Assets & Liabilities Of US Banks – Zerohedge
Short Sellers Flocking to US Banks Are Risking a Painful Squeeze – bbg
IAG Swings to Profit in First Quarter, Raises Full-Year Outlook – bbg
Air France-KLM Prepares for Busy Summer as Bookings Come Back – bbg
Air France-KLM Posts Q1 Revenue Beat Driven by Strong Summer Bookings – Reuters
Adidas ‘Optimistic’ as First-Quarter Sales Beat Expectations – Reuters
Adidas Shows Sign of Improvement While Still Mulling Yeezy Plans – bbg
Most Economists See ECB Raising Rates Twice More by July – bbg
European markets set to nudge higher as investors assess monetary policy, data – cnbc

Marketmind: German Data in the Rear-View Mirror – Reuters

Asia markets mixed as Wall Street marks four-day losing streak on banking woes – cnbc
This Week in China: Beware Sleepy Yuan as Macro Trades Falter – bbg
China’s Services Activity Expands For Fourth Straight Month – bbg
China’s service sector remains a bright spot as factory data disappoints, Caixin reading shows – cnbc
RBA Cuts GDP, Inflation Forecasts as Rate Hikes Cool Activity – bbg

Asia Stocks Face Headwinds From US Local Bank Rout: Markets Wrap – bbg

 

Thursday 05/04

Business Live – guardian
Fed Pause Baked in After ‘Dovish’ Hike – Reuters
What is the debt ceiling? Why it’s important and how it affects you – cnbc
Analysis-Markets Bet ECB Will Pause Hikes Soon as Economy Feels Rate Pinch – Reuters

Saudi Arabia Cuts Asia Oil Prices as Energy Market Weakens – bbg
Stocks making the biggest moves after hours: Apple, Carvana, DoorDash, Block and more – cnbc
Massive Retail Money Market Inflows Suggest Bank Deposit Run Accelerating – Zerohedge
Apple Jumps After Beating Across The Board, Announcing Massive $90 Billion New Stock Buyback – Zerohedge
Apple reports ‘better than expected’ quarter driven by iPhone sales – cnbc
Risk off sustains on more bank woes and mixed ECB ahead of NFP – Newsquawk US Market Wrap – Zerohedge
Wall Street Ends Down as PacWest Fuels Fears of Deeper Bank Crisis – Reuters
May The 4th Be With The Shorts: Regional Bank Rout Sparks Bond & Bullion Bid – Zerohedge
Stocks close lower for a fourth day on renewed bank worries, Dow goes negative for 2023 – cnbc
Return of Regional Bank Angst Batters Corporate Credit Markets – bbg
Asian Oil Imports Dipped In April As China And India Slowed Crude Buying – Zerohedge
US Crude Sets the World’s Most Important Oil Benchmark for First Time – bbg
AMD jumps 9% on report Microsoft is collaborating on A.I. chip push – cnbc
Regional Bank Crisis Spreads To Big Banks As PacWest, US Bancorp Tumble, Stocks Dump Amid Widespread Liquidations – Zerohedge
Regional bank stocks continue to slide on Thursday with PacWest leading the way down 54% – cnbc
48% Of Americans Are Worried About Their Money’s Safety In US Banks, More Than During Peak Of 2008 Crisis – Zerohedge
Stocks making the biggest moves midday: PacWest, Western Alliance, Paramount Global & more – cnbc
The Real Oil Market Shows $20-a-Barrel Price Collapse Is Excessive – bbg
A “Pause” That Does Not Refresh – Zerohedge

US PREMARKET
US Jobs Market Softening; Slumping Productivity Boosts Labor Costs – Reuters
US Productivity Drops in First Quarter; Labor Costs Jump – Reuters
US Productivity Declines More Than Forecast, Labor Costs Climb – bbg
US Jobless Claims Rise Most in Six Weeks, Continuing Claims Fall – bbg
PacWest, First Horizon Slump, Reigniting Regional Bank Jitters – bbg
Stocks making the biggest moves before the bell: Paramount, PacWest, Shopify & more – cnbc
ECB Vows More Hiking to Come After Slowing Tightening Pace – bbg
ECB Bid to Diverge From Fed Pits Lagarde Against Tide of History – bbg
Instant View: ECB Delivers Seventh Consecutive Rate Hike – Reuters
ECB Slows Rate Hikes and Keeps Options Open – Reuters
ECB Hikes Rates By 25bps (As Expected), Warns “Inflation Continues To Be Too High For Too Long” – Zerohedge
European Central Bank raises rates by 25 basis points, slowing the pace of hikes – cnbc
Futures Slide As Fed Pauses Rate Hikes, Regional Banks Resume Plunge – Zerohedge
Royal Caribbean Boosts Guidance as Cruise Travel Demand Surges – bbg
ConocoPhillips Lifts Annual Output Forecast After Upbeat Quarterly Profit – Reuters
Peloton Gives Upbeat Forecast But Dish Settlement Pressures Cash – bbg
Shopify Cuts Jobs for the Second Time in Less Than a Year – bbg
Shopify cuts 20% of its workforce; shares surge on earnings beat – cnbc
IMF: Saudi Arabia Needs Oil Prices At $80.90 To Balance Budget – Zerohedge
German Exports Fall Significantly More Than Expected in March – Reuters
Euro Zone April Business Activity Grows on Strong Services Demand – PMI – Reuters
Upturn in German Services Sector Activity Continues in April – Reuters
ArcelorMittal Beats Profit Expectations on Higher Steel Demand – Reuters
Volkswagen Revenue Jumps on Growth in Europe, North America – Reuters
Volkswagen posts drop in quarterly profit, says it must speed up to catch Chinese EV market rivals – cnbc
BMW Cars Business Gets Earnings Boost From Price Hikes – Reuters
Shell, Equinor Profits Beat Forecasts as Trading Offsets Lower Energy Prices – Reuters
Shell Posts $10 Billion Profit, Lifted by Trading – Reuters
Shell beats expectations with $9.6 billion in first-quarter profit, boosted by fuel trading – cnbc
Shell makes record first-quarter profits of nearly $10bn – guardian
AB InBev Profit Jumps as Consumers Absorb Higher Beer Prices – Reuters
Budweiser-owner AB InBev reports profit hike as beer drinkers shoulder higher prices – cnbc
Euro and ECB Poised to Add to Dollar’s Woes, Deutsche Bank Says – bbg
Analysis-Fed’s Hiking Pause May Not Signal All-Clear for US Stocks – Reuters
Oil’s Dramatic Open Leaves Traders Puzzled After WTI Crashes – bbg
Oil’s Chaotic Selloff Worsens With 7.2% Tumble at Asia Open – bbg
European markets set to lose steam ahead of European Central Bank rate decision – cnbc

Asia markets mixed after Fed raises rates and hints hikes could end – cnbc
Asian Equities Receive Biggest Foreign Inflows in Three Months – Reuters
China’s Factories Struggle in Further Sign of Economic Imbalance – bbg

Asia Stocks Face Headwinds From US Slide After Fed: Markets Wrap – bbg

 

Wednesday 05/03

Business Live – guardian
Morning Brief: Focus on Fed And Debt Ceiling; China Tourists Overwhelm Attractions; Europe’s Gas Crunch Could Return – CB
How a US Debt Crisis Standoff Could Cause a Recession – a Bad One – Reuters
Watch Fed Chief Jerome Powell speak after central bank raises interest rates for a 10th time – cnbc
What Wall Street Is Saying About the Fed Rate Decision – bbg
The Banking Collapse Of 2023 Is Now Officially Bigger Than The Banking Collapse Of 2008 – Zerohedge

Here We Go Again: Troubled California Bank Pacwest Craters 60% On Report It Is Seeking Buyers Or Capital Raise – Zerohedge
PacWest Is Weighing Strategic Options, Including Possible Sale – bbg
PacWest falls 40% after hours on report bank is weighing sale – cnbc
Stocks making the biggest moves after hours: PacWest, SolarEdge, Etsy, Qualcomm and more – cnbc
Albemarle’s Quarterly Profit Jumps, but Annual Forecast Cut – Reuters
Qualcomm Forecast Indicates Smartphone Slump Will Drag On – bbg
Qualcomm gives light forecast, phone chip sales fall 17% – cnbc
US: A final 25bp hike from the Fed as tighter lending conditions weigh heavily – ING
Post-Powell bank selling sees stocks close lower; Fed set for June pause – Newsquawk US Market Wrap
Stocks & Bond Yields Tumble On ‘Hawkish Pause’; Gold Gains As Crude Collapses – Zerohedge
Dow closes more than 250 points lower Wednesday after Fed hikes rates for a 10th time – cnbc
Wall Street Reacts To Powell’s Hawkish Pause – Zerohedge
Here’s What We Learned From Fed Rate Decision and Powell’s Remarks – bbg
Fed Hikes 25bps As Expected, Signals ‘Hawkish Pause’; Warns Of ‘Tighter Credit Standards’ – Zerohedge
Fed increases rates a quarter point and signals a potential end to hikes – cnbc
Fed Hikes Another 25 Basis Points, Hints It May Be the Last Increase – Reuters
Oil Plunges To Most Oversold In Two Years Amid CTA Shorting Frenzy – Zerohedge
Stocks making the biggest moves midday: CVS Health, Eli Lilly, Clorox, Yum and more – cnbc
First US Treasury Buybacks in Decades Aim to Spur Liquidity – bbg
Treasury Keeps Quarterly Debt Sales Unchanged Ahead Of Second Half Surge, Stuns Market With Launch Of Treasury Buybacks – Zerohedge
Airbus Posts Lower Q1 Profit, Delays New Freighter – Reuters
Airbus First-Quarter Profit, Sales Slip on Slow Deliveries – bbg
U.S. Services Sector Grows Steadily in April -ISM Survey – Reuters
US Service Industry Expands at a Modest Pace as Activity Cools – cnbc
Services Survey Show Growth In April But Export Demand Is “Reigniting Inflationary Pressures” – Zerohedge

Marketmind: Bank Reverb Frames Fed Decision – Reuters

ADP Data Surprise With Biggest Private Payrolls Gain Since July – bbg
ADP Payrolls Unexpectedly Surge To 9 Month HIgh Amid “Clear Slowdown In Pay Growth” – Zerohedge
Stocks making the biggest moves premarket: Starbucks, AMD, Pearson, PacWest & more – cnbc
Futures Grind Higher Ahead Of Fed Hike Amid Continued Regional Bank Jitters, Oil Exten – Zerohedge
Eli Lilly Drug Slows Alzheimer’s Disease, Study Finds – bbg
Eli Lilly Alzheimer’s treatment donanemab slowed disease progression in clinical trial – cnbc
Estee Lauder Sinks After Dour 2023 View on Slow Recovery in Asia – Reuters
CVS Cuts Earnings Outlook on Health-Care Acquisition Costs – bbg
AI ‘Will Cause Real Damage,’ Microsoft Chief Economist Warns – bbg
Porsche Sees 25% Operating Profit Jump in Q1 on Record Deliveries – Reuters
Porsche Profit Rises on Stronger Sales, Pricing Power – bbg
Stellantis Faces Inventory ‘Challenge’ as Chip Supply Helps Sales – Reuters
Stellantis Sales Jump on High Car Prices, Recovery in Shipments – bbg
Lufthansa Sees Earnings Boost From Strong Summer Travel – Reuters
Lufthansa Sees Earnings Above Pre-Crisis Levels Amid Rebound – bbg
Europe’s Banks See Drop in Loan Demand But Stay Upbeat on Profit – bbg
UniCredit Raises 2023 Goals After Stronger Than Expected Quarter – Reuters
UniCredit Boosts Profit, Payout Targets After Record Quarter – bbg
BNP’s Fixed-Income Traders Defy Gloom in Challenging Quarter – bbg
Deutsche Post Q1 Operating Profit Slumps Amid Economic Downturn – Reuters
14 Million Jobs Will Be Slashed Globally By 2027 Owing To AI And ESG Standards: WEF – Zerohedge
Morgan Stanley, UBS Pick Bonds Over Stocks on Recession Risk – bbg
What to Watch as Fed Readies to Pause With One Last Hike – bbg
European markets head for positive open ahead of Fed rate decision – cnbc

Asian markets fall ahead of Fed policy decision, tracking losses on Wall Street – cnbc
China Isn’t Going to Save the World This Time, Macquarie Says – bbg

Asia Stocks Set to Drop as Bank Woes Hit US Shares: Markets Wrap – bbg

 

 

Tuesday 05/02

Business Live – guardian
Morning Brief: U.S. May Default On June 1; RBA Interest Rate Rise Catches Markets By Surprise; Focus On Eurozone CPI And Lending Survey – cb
NYSE to Delist First Republic Bank Shares – Reuters

Stocks making the biggest moves after hours: Ford, Starbucks, Clorox and more – CNBC
Starbucks earnings beat as China reverses same-store sales declines – CNBC
Ford posts stellar first quarter, boosted by fleet and legacy truck divisions – CNBC
AMD Gives Tepid Forecast as It Tries to Recover From Slump – bbg
AMD revenue drops 9% as PC chip sales decline sharply – CNBC
Risk off as regional banks slide while JOLTS data falls ahead of Fed – Newsquawk US Market Wrap
Bonds & Bullion Burst Higher, Banks Battered As JOLTs Plunge Ahead Of Jay Powell – Zerohedge
Dow tumbles more than 300 points as banking sector worries reignite before Fed rate decision – CNBC
WTI Holds Ugly Losses Despite 3rd Weekly Crude Draw In A Row – Zerohedge
Short Sellers Tightened Grip on Regional Banks in Runup to Rout – bbg
Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & more – cnbc
Europe’s Gas Crunch Could Return as Goldman Sees Winter Spike – bbg
US Regional Bank Stress Urges Big Preferred Investor to Sell – bbg
PacWest, Western Alliance Lead Regional Bank Stock Rout – bbg
PacWest falls 30% as regional banks stocks slide to new lows – cnbc
Dollar Gloom Scenario Faces Big Test With Market Risks Mounting – bbg
Traders Zero In on June US Default Risk, Pushing Yields Above 5% – bbg
US Job Openings Drop; Layoffs Hit Highest Level in More Than Two Years – Reuters
Job openings fell more than expected in March to lowest in nearly two years – cnbc
US Factory Orders Rebound on Aircraft in March – Reuters

Marketmind: Volatile News, Not Markets – Reuters

US PREMARKET
Stocks making the biggest premarket moves: Uber, Pfizer, Chegg, Dell & more – cnbc
Marriott Beats Estimates As Travel Booms Despite Uncertainty – bbg
Uber Confident on Profit as Ride-Sharing Rebounds in 2023 – Reuters
Uber revenue beats expectations and the stock is up – cnbc
Pfizer Leans on COVID Products to Top Estimates – Reuters
Pfizer Beats Estimates as Covid Shot, Drug Sales Outperform – bbg
Refiner Marathon Petroleum Expects Strong Margins in 2023 on High Demand – Reuters
ECB cheat sheet: Difficult to pull away from the Fed – ing
First Republic’s failure shows we are fighting an unwinnable war – telegraph
Eurozone Headline Inflation Ticks Higher, Core Rate Slips – livesquawk
Euro Zone Inflation Picks up but Core Unexpectedly Slows – Reuters
Headline inflation in the euro zone rises slightly in April, but core price growth slows unexpectedly – cnbc
Euro-Zone Core Inflation Slows, Supporting Smaller ECB Hike – bbg
Euro Zone Factory Downturn Deepened in April – PMI – Reuters
EUROZONE: HCOB final manufacturing Purchasing Managers’ Index (PMI) – spglobal
How JPMorgan’s Dimon Won the First Republic Deal – Reuters
ECB Says Euro-Area Banks Curbed Credit by More Than Expected – bbg
ECB: BANKS TIGHTENED #CREDIT STANDARDS MORE THAN EXPECTED IN 1Q – europa
BP Profit Rises to $5 Billion as Share Buyback Slows – Reuters
BP Slows Pace of Share Buybacks as First-Quarter Profit Dips – bbg
Oil major BP reports drop in first-quarter profit on weaker commodity prices – cnbc
HSBC Announces $2 Billion Buyback After Profit Beats Estimates – bbg
European markets head for mixed open as investors look to upcoming Fed meeting – cnbc

Marketmind: RBA Shock Hike Starts Huge Week for Central Banks – Reuters

 

Australia’s central bank hikes rates by 25 basis points; Asia-Pacific markets mixed – cnbc
IMF raises 2023 economic outlook for Asia, sees China and India making up half of global growth – cnbc
Weak Yen Pushes Japan Inflation Expectations to Four-Month High – bbg
Hong Kong’s Economy Grew 2.7% in First Quarter After Reopening – bbg
China’s KWG Faces $4.5 Billion of Payment Demands After Default – bbg
RBA’s Shock Hike Spurs Strategists to Remap Bond, Aussie Trades – bbg
Alibaba’s Faded Rally Signals Grim Outlook Ahead: Tech Watch – bbg

Asia Stocks Set for Mixed Open as Bond Sales Jump: Markets Wrap – bbg

 


Monday 05/01

First Republic Becomes Second-Largest Ever US Bank Failure – bbg
Explainer-Why First Republic Bank Failed and What JPMorgan’s Deal Means – Reuters
Factbox-JPMorgan’s Deal for Collapsed First Republic Explained – Reuters
First Republic stock investors face ‘wipe-out,’ analyst says – yahoofinance

MicroStrategy Posts Profit on Benefit Tied to Bitcoin Holdings – bbg
Yellen Warns Congress Treasury May Run Out of Cash Soon as June – bbg
Bonds, Bitcoin, & Bullion Battered After Bank Bailout, Stagflation Scare – Zerohedge
Dow closes slightly lower following JPMorgan’s takeover of fallen First Republic – cnbc
Factbox-U.S. Debt Ceiling Standoff: Platinum Coins, the 14th Amendment Could Be Paths Out – Reuters
First Republic Leaves Bank World Still Seeking All-Clear Signal – bbg
US Weighs More Business Deposit Insurance After Bank Failures – bbg
Stocks making the biggest moves midday: JPMorgan Chase, General Motors, Exxon Mobil & more – cnbc
First Republic Collapse Sparks Sector-Wide Regional Bank Shares Sell-Off – Reuters
First Republic’s Jumbo Mortgages Brought On the Bank’s Failure – bbg
Trader ‘Exhaustion’ Drags April ETF Volume to Lowest Since 2020 – bbg
US Factory Activity Contracts for a Sixth Month, ISM Data Show – bbg
U.S. Manufacturing Sector Contracts for Sixth Straight Month in April – ISM – Reuters
ISM Manufacturing Screams Stagflation, Still Contracting With “Reigniting Inflationary Pressures” – Zerohedge

 

Marketmind-Another One Bites the Dust – Reuters

 

US PREMARKET
Stagflation Is the Risk That Eludes Investors Mispricing Markets – bbg
Stocks making the biggest moves premarket: First Republic, JPMorgan Chase, SoFi Technologies & more – cnbc
Futures Flat On First Republic Failure Day – Zerohedge
Morgan Stanley’s Wilson Says Hawkish Fed Surprise to Roil Stocks – bbg
JPMorgan Buys First Republic Bank’s Assets – Reuters
JPMorgan to acquire First Republic’s deposits as US regulators step in – ft
First Republic Seized by Regulators, to Be Sold to JPMorgan – bbg
JPMorgan takes over First Republic after it’s seized by Californian financial regulator – cnbc

Australia and Japan trade higher while most Asian markets close for Labor Day – cnbc
BOJ Signals Rising Confidence Over Wage Growth This Year – bbg
Yen Bulls Are Pushing Back Bets on BOJ Tailwind to the Summer – bbg

Asia Stocks to Rise as Earnings Outweigh Bank Woes: Markets Wrap – bbg

Apple, Qualcomm, AMD Earnings to Put Tech Rebound In Focus – bbg
Key Events This Very Busy Week: Fed, ECB, Apple And April Payrolls – Zerohedge
Weekly house view, Biden for 2024 – pictet
THIS WEEK IN EARNINGS – REFINITIV

 

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