Markets Steady, Evergrande Woes, IBM and Other Earnings - What's Moving Markets

21 Tháng Bảy 2021
Markets Steady, Evergrande Woes, IBM and Other Earnings - What's Moving Markets © Reuters.

By Geoffrey Smith

Investing.com -- Global markets stabilize after Monday's sell-off - except for crypto, which is still falling after breaking some key support levels. The massive settlement of claims against the makers and distributors of opioids is drawing near. IBM (NYSE:IBM) posts strong revenue growth as earnings season kicks into top gear, and China's biggest property developer lurches toward a possible default. Here's what you need to know in financial markets on Tuesday, 20th July.

1. Markets stabilize - except Bitcoin, which is still falling

Global financial markets have stabilized after Monday’s sell-off, which was caused by growing alarm at the ongoing spread of Covid-19 and its ability to derail the economic recovery worldwide.

The bellwether 10-year U.S. Treasury yield has however only risen 1 basis point from its overnight low of 1.18%, which represented a five-month low. The dollar index, meanwhile, has edged down 0.1% to 92.838.  

While Asian stocks followed Wall Street lower overnight, the selling slackened toward the end of the session, and European stocks have bounced smartly.

Some risk assets remain under pressure: Bitcoin was down 5.3% at $29,711 by 6:15 AM ET (1015 GMT), having finally fallen through a support level at $30,000 that had withstood numerous tests. Other crypto assets posted even larger losses, with Ethereum and DogeCoin hitting their lowest in over three months.

2. Evergrande ever deeper in trouble

The shares and bonds of China’s biggest real estate developer fell to historic lows on mounting fears that the company will default on its debts of over $300 billion.

China Evergrande Group shares have fallen 23% so far this week, while its offshore and local bonds have hit record lows (Bloomberg cited its 2025 dollar bond trading at only 54c on the dollar).

Evergrande has previously been seen as ‘too big to fail’ and enjoying the implicit support of the Chinese state. However, many state lenders have stopped making new loans to it, something that has undermined confidence.

A default would likely trigger a sharp reassessment of credit risk in China, where the government has often talked about wanting to reduce leverage in the property sector, but repeatedly backed off tough enforcement.

3. Opioid settlement nears, lifting JNJ and others

Four companies accused of helping to fuel the opioid epidemic across the U.S. over the first two decades of the millennium are close to settling a suite of charges against them for around $26 billion, according to various reports.

Johnson & Johnson (NYSE:JNJ), Cardinal Health (NYSE:CAH), Amerisource Bergen and McKesson (NYSE:MCK) are all expected to agree to an outline of a settlement with state and local governments within the week, according to Bloomberg and The Wall Street Journal. The settlement will draw a line under proceedings that have been going on for over two years.

Plaintiffs will have several months to sign on to the deal, which will see compensation payments spread over 18 years, according to the reports. The shares of the four companies all rose in premarket trading in response to the greater clarity over their outlook.

4. IBM impresses as earnings season moves into top gear; more warnings of chip shortages from Europe

Earnings season kicks into top gear, just as the world starts to worry that the current economic momentum may be as good as it gets. The mood in markets will be overshadowed by Apple’s announcement on Monday that it is pushing back plans to have its staff return to the office.

The day’s most eagerly awaited release, Netflix (NASDAQ:NFLX), only comes after the close. Before then, there will be updates from a broad cross-section of the economy, including Chipotle Mexican Grill (NYSE:CMG), United Airlines, Halliburton (NYSE:HAL), Omnicom and Philip Morris (NYSE:PM).  

IBM stock will also be in focus after announcing its strongest revenue growth in years after the close on Monday. Mining giant BHP may also draw interest after shying away from plans to expand its production capacity dramatically. Warnings from European manufacturers such as Volvo, Electrolux and Kone about the extended impact of chip shortages may also find an echo.

5 Oil stable as API inventory data eyed

Crude oil futures also rebounded a little in line with other risk assets as Monday’s sell-off played itself out. However, the sell-off in crude was even more savage than in equities: U.S. crude futures at $66.55 a barrel are almost $10 below their peak only two weeks ago. Brent futures meanwhile rebounded 0.3% to $68.80 a barrel but are likewise $9 off their peak.

At 4:30 PM ET, the American Petroleum Institute will release its weekly estimate of U.S. inventories. Last week’s number showed the smallest draw on inventories in five weeks, suggesting that the rebound in demand in the U.S. may be slackening in the near term.

Để lại bình luận
28-07-2021 20:41:20 (UTC+7)

EUR/USD

1.1795

-0.0019 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (4)

EUR/USD

1.1795

-0.0019 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (4)

GBP/USD

1.3861

-0.0013 (-0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

USD/JPY

110.14

+0.38 (+0.35%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.7332

-0.0028 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

USD/CAD

1.2590

-0.0010 (-0.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

EUR/JPY

129.93

+0.26 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

1.0803

0.0001 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (7)

Gold Futures

1,795.75

-4.05 (-0.23%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Silver Futures

24.777

+0.128 (+0.52%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Copper Futures

4.4897

-0.0548 (-1.21%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Crude Oil WTI Futures

72.06

+0.41 (+0.57%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (4)

Brent Oil Futures

73.85

+0.33 (+0.45%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

Natural Gas Futures

3.955

+0.013 (+0.33%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

US Coffee C Futures

203.80

+2.05 (+1.02%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

Euro Stoxx 50

4,089.97

+25.14 (+0.62%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

S&P 500

4,396.60

-4.86 (-0.11%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

DAX

15,541.60

+22.47 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

FTSE 100

7,015.05

+18.97 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Hang Seng

25,421.00

+360.13 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Small Cap 2000

2,210.90

+21.17 (+0.97%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

IBEX 35

8,742.00

+42.80 (+0.49%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (5)

BASF SE NA O.N.

66.520

-0.540 (-0.81%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (7)

Bayer AG NA

50.37

-0.22 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Allianz SE VNA O.N.

210.88

+0.60 (+0.29%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (4)

Adidas AG

309.48

+0.48 (+0.16%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

Deutsche Lufthansa AG

10.012

+0.108 (+1.09%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

Siemens AG Class N

133.10

-0.23 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (8)

Deutsche Bank AG

10.622

+0.017 (+0.16%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (5)

 EUR/USD1.1795↑ Sell
 GBP/USD1.3861↑ Sell
 USD/JPY110.14↑ Sell
 AUD/USD0.7332↑ Sell
 USD/CAD1.2590↑ Buy
 EUR/JPY129.93↑ Sell
 EUR/CHF1.0803↑ Sell
 Gold1,795.75↑ Sell
 Silver24.777↑ Sell
 Copper4.4897↑ Sell
 Crude Oil WTI72.06Neutral
 Brent Oil73.85Neutral
 Natural Gas3.955↑ Sell
 US Coffee C203.80↑ Sell
 Euro Stoxx 504,089.97↑ Sell
 S&P 5004,396.60Neutral
 DAX15,541.60↑ Sell
 FTSE 1007,015.05↑ Buy
 Hang Seng25,421.00↑ Buy
 Small Cap 20002,210.90↑ Buy
 IBEX 358,742.00Sell
 BASF66.520Sell
 Bayer50.37↑ Sell
 Allianz210.88Neutral
 Adidas309.48Sell
 Lufthansa10.012↑ Sell
 Siemens AG133.10↑ Sell
 Deutsche Bank AG10.622Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,715
(0/ 0) # 708
SJC HCM5,650/ 5,720
(-10/ -10) # 713
SJC Hanoi5,650/ 5,722
(-10/ -10) # 715
SJC Danang5,650/ 5,722
(-10/ -10) # 715
SJC Nhatrang5,650/ 5,722
(-10/ -10) # 715
SJC Cantho5,650/ 5,722
(-10/ -10) # 715
Cập nhật 28-07-2021 20:41:22
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Cập nhật lúc 18:54:22 28/07/2021
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