Here are today's main market standouts as China data sends oil lower, while US IT monitoring and analytics company Datadog's shares leapt higher.
- Global government bond yields slumped as peak rate bets are still in play.
- Tech powered Wall Street’s rally as the S&P 500 extended a seven-day winning streak. Amazon led gains.
- The US dollar strengthened as the BOE’s official hinted rate cuts in 2024, and the RBA did a dovish hike.
- Chinese data sank oil prices, with WTI and Brent futures hitting the lowest level since July.
- Gold retreated further due to a firmed USD, whilst risk-off abated.
- Asian stock markets are set to open slightly higher. ASX 200 futures were up 0.08%, and Hang Seng Index futures rose 0.18%.
Chart of the day
WTI, daily
Company news
- WeWork filed for Chapter 11 bankruptcy, which threatens office closures in the US and London.
- Datadog (NDX: DDOG) soared 28% as AI-powered cloud revenue beat estimates and raised full-year guidance. CEO Olivier Pomel said “AI native customers” contributed 2.5% of its annualized revenue.
- Uber (NYSE: UBER) rose 3.7% despite an earnings miss as gross bookings, trips and active consumers saw strength.
ASX corporate actions
- JHX to release Q2 FY24 earnings call. Consensus calls for EPS at a 9.7% average growth in the past three years.
- WDS is set to launch Investor Day
- RMD Dividend Ex. US$0.48. Pay Date: 12/14/23
Today’s agenda
- New Zealand Inflation Expectations
- Japan’s Leading Indicators
- ECB’s President Lagarde Speaks
- BOE’s Governor Bailey Speaks
- Fed Chair Powell Speaks
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