Cautious start for Asia following a weak handover from US where the major indices snapped their streak of record closes after disappointing retail sales data, while attention is on a plethora of earnings & looming RBNZ decision; ASX 200 (-0.4%), Nikkei 225 (Unch.), KOSPI (+0.3%)
Newsquawk Wed 18 Aug 2021 00:14- They are gonna let a man who eats one meal per weekday and fasts all weekend decide what we can and can't tweet https://t.co/xpw2RHfQSu Newsquawk Tue 17 Aug 2021 19:14
- Consumer Discretionary big underperformer in sectors post miss in US Retail Sales and Home Depot earnings. Walmart posted a solid quarter also and still can't catch a bid. https://t.co/NFbw0Dwhhx Newsquawk Tue 17 Aug 2021 17:49
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- RT @C_Barraud: ?? Chinese Growth Hit The Brakes *Officials Have Multiplied Restrictive Measures To Contain #Delta Outbreak *Other Factors H… Newsquawk Tue 17 Aug 2021 16:49
- Spooz down 50 handles on the day, just under 10 away from support at 4413, the 20dma, which the future hasn't traded beneath since mid-July Newsquawk Tue 17 Aug 2021 16:44
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- US Retail Sales M/M (Jul) -1.1% (exp. -0.3%; prev. 0.6%, Rev. 0.7%) Ex-Autos M/M (Jul) -0.4% (exp. +0.1%; prev. 1.3%, Rev. 1.6%) Another disappointing print on the state of the consumer following Uni of Michigan survey. Newsquawk Tue 17 Aug 2021 12:34
- Citl adds, "[stocks] continue to set new highs, with investors evidently focusing more on the data showing a strengthening economy than the concerns over virus variants/rising infection rates." Strong data is paramount at the moment to be able to look past Delta Newsquawk Tue 17 Aug 2021 11:59
- DB, "should not be focused on whether delta will lead to new gov restrictions but on how it impacts consumer. In this context, the large mkt reaction to the neg. UoM data last wk should not be a surprise as it is giving important info on the mindset of the consumer post-lockdown" Newsquawk Tue 17 Aug 2021 11:49
- RT @tnewtondunn: Military charities like @HelpforHeroes are now beginning to report an increase in demand from veterans because of what has… Newsquawk Tue 17 Aug 2021 11:19
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- European equities/US futures are hindered as sentiment slips on China updates and NZ returning to lockdown; ES -0.5% DXY is firmer but within ranges as safe-haven's remain little changed but antipodeans lag, particularly NZD pre-RBNZ on updated calls; core debt is bid but off best China's market regulator issued draft regulations on banning unfair competition in the internet sector Fed's Rosengren would be supportive of announcing a taper program in September if there is another strong jobs report New Zealand is to enter a level 4 lockdown from Wednesday, according to PM Ardern; nationwide lockdown for three days and a Auckland lockdown for seven days US President Biden defended his decision to withdraw from Afghanistan Looking ahead, highlights include US retail sales, industrial production, Fed's Powell, Kashkari and earnings from Walmart
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Analysis details (11:07)
EQUITIES
European equities (Stoxx 600 -0.2%) started on a softer footing before trimming losses with the Stoxx 600 pulling back from its longest winning streak in over 10 years. Losses in Europe came in the wake of a despondent Asia-Pac session with downside observed in China amid further scrutiny from regulators in Beijing after issuing draft regulations on banning unfair competition in the internet sector. COVID concerns in New Zealand have also added to the negativity with NZ entering into a three-day nationwide lockdown (Auckland will lockdown for seven days); adds to recent restrictive measures in Australia and Japan. The...
Some Democrats are considering allocating a portion of their $3.5 trillion budget plan toward refugee resettlement for those fleeing Afghanistan, three Hill sources familiar with the early discussions tell Axios.
Why it matters: As President Biden defends his plan for complete withdrawal amid searing images of the Taliban’s swift takeover, Democrats who agreed with the plan, if not its execution, are scrambling for a way to protect some of the nation's most vulnerable — including women, children, interpreters and others who helped the U.S. over the past two decades.
- Market desks adjusting RBNZ rate hike calls this morning like... $NZD https://t.co/IQapo9FK0D Newsquawk Tue 17 Aug 2021 07:33
- Here's to hoping that the economic recovery is as strong as this guy's hairline https://t.co/abJodUMJ0F Newsquawk Tue 17 Aug 2021 06:53
- Asian equity markets were subdued following the mixed performance on Wall St; S&P 500 and DJIA posted a 5th consecutive session of record closes China's market regulator issued draft regulations on banning unfair competition in the internet sector Fed's Rosengren would be supportive of announcing a taper program in September if there is another strong jobs report In FX, the DXY is firmer above 92.50, antipodeans lag with NZD hampered by COVID concerns ahead of RBNZ US President Biden defended his decision to withdraw from Afghanistan Looking ahead, highlights include UK labour market report, EZ GDP (2nd), US retail sales, industrial production, Fed's Powell, Kashkari, supply from Germany & the UK, earnings from Walmart
- - Looking ahead, highlights include UK labour market report, EZ GDP (2nd), US retail sales, industrial production, Fed's Powell, Kashkari, supply from Germany & the UK, earnings from Walmart Newsquawk Tue 17 Aug 2021 05:28
- - US President Biden defended his decision to withdraw from Afghanistan Newsquawk Tue 17 Aug 2021 05:28
- - In FX, the DXY is firmer above 92.50, antipodeans lag with NZD hampered by COVID concerns ahead of RBNZ Newsquawk Tue 17 Aug 2021 05:28
- - Fed's Rosengren would be supportive of announcing a taper program in September if there is another strong jobs report Newsquawk Tue 17 Aug 2021 05:28
- - China's market regulator issued draft regulations on banning unfair competition in the internet sector Newsquawk Tue 17 Aug 2021 05:28
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