The Wall Street rally lost steam as the tech-led rebound slowed, with the energy sector continuing to lag. Here are the headlines:
- The Wall Street rally lost steam as the tech-led rebound slowed, and energy continued lagging
- Long-dated US bond yields fell after a US$40bn auction, with the 30-year Treasury yield slumping to a month-low
- The US dollar was slightly higher, while Asian currencies weakened amid ongoing China’s property woes
- USD/JPY reclaimed 151, which may spark intervention bets again
- Crude oil deepened losses on economic concerns. WTI and Brent futures fell off the 200-day moving averages at a fresh three-month low
- Gold extended a three-day losing streak, testing key support as haven demands abated
- Asian stock markets are set to open slightly higher. ASX 200 futures were up 0.38%, and Hang Seng Index futures rose 0.19%
Chart of the day
Gold, daily
Company news
- Disney (NYSE: DIS) rose 2% in after-hours trading following Q3 earnings result. The entertainment giant beat EPS expectations but missed revenue estimates. Disney+ subscribers saw higher than expected growth of 150.2 million...
- Robinhood (NDX: HOOD) tumbled 15% due to a miss on earnings expectations. Its third-quarter revenue fell short of market’s prediction due to reduced trading volume.
- Rivian (NDX: RIVN) cut early gains and finished flat following an earnings beat. The EV maker upgraded its full-year guidance to 54,000 vehicles from 52,000 vehicles.
- Roblox (NYSE: RBLX) soared 12% following the strong quarterly earnings report. The gaming platform’s third-quarter bookings and revenue far exceeded expectations.
ASX corporate actions
- VEA is set to launch the Investor Day.
- XRO is due to report S1 2024 earnings.
- WBC is on Dividend Ex. US$0.72. Pay Date: 19/12/23
Today’s agenda
- Japanese Current Account for September
- China’s PPI and CPI for October
- US Unemployment Claims
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