5 minutes ago
JPMorgan strategists cautious about global profit growth
JPMorgan strategist Mislav Matejka said a slight slowdown in the global economy could weigh on global corporate earnings growth this year.
“We are generally cautious about our global earnings outlook, given the rising margins and the risk of disappointing pricing and volumes,” Matejka said. “Consensus forecasts for EPS momentum to reaccelerate this year and next may be too optimistic.”
“In this context, relative regional earnings outlook is important for relative regional performance.Recently, US performance has been helped by improved relative EPS momentum,” Matejka said. added.
— Fred Imbert
8 hours ago
Oil prices rise slightly after US troops killed by Iran-related missile
Oil prices rose after a missile fired by Iranian-backed militants killed a US soldier in Jordan.
On Monday, global benchmark Brent crude oil traded 0.35% higher at $83.84 per barrel, while U.S. West Texas Intermediate futures rose 0.42% to $78.34 per barrel.
Three U.S. service members were killed Sunday in an unmanned aerial drone attack on troops stationed at an outpost in northeastern Jordan near the Syrian border, the White House said.
—Li Yingshan
9 hours ago
Evergrande shares plunge 12% before trading halts as court issues liquidation order
Evergrande's Hong Kong-listed shares plunged 12.2% in early trading, but trading was halted on Monday after a Hong Kong court ordered the Chinese real estate developer to be liquidated.
Evergrande, once one of China's biggest real estate developers, has been embroiled in Beijing's debt crisis in recent years.
The world's most indebted property developer defaulted on its debt in 2021 and announced an offshore debt restructuring program in March last year.
Before the ruling, the Wall Street Journal reported that liquidation of the estate could be imminent after Evergrande's overseas creditors failed to reach a restructuring agreement in the 11th hour this weekend.
— Shreyashi Sanyal
10 hours ago
Central Bank of Singapore expresses support at first policy meeting of the year
Singapore's central bank on Monday left monetary policy unchanged as expected in its first quarterly monetary policy decision of 2024.
The Monetary Authority of Singapore has announced that it will maintain an exchange rate policy range known as the Singapore Dollar Nominal Effective Exchange Rate (S$NEER).
“MAS will closely monitor global and domestic economic developments and remain vigilant against risks to inflation and growth,” the central bank said in a policy statement.
The central bank expects the country's gross domestic product (GDP) to improve in 2024, with growth expected to be between 1% and 3%.
MAS said core inflation is expected to rise in the current quarter “partly due to the temporary impact of the 1 percentage point hike in GST from January this year”. Singapore increased its goods and services tax by 1 percentage point on January 1st.
The benchmark Straits Times Index rose 0.1% in early trade.
Read the full text here.
— Shreyashi Sanyal
12 hours ago
Six Dow companies report earnings this week
Six of the 30 Dow Jones Industrial Average stocks will report their quarterly results this week.
Microsoft is scheduled to report earnings after the bell on Tuesday. Boeing, which has been hit by problems with its 737 Max 9 planes, will report quarterly results on Wednesday morning.
Honeywell and Merck are expected to report Thursday, followed by Apple. Chevron plans to announce results Friday morning.
— Ha-Kyung Kim
13 hours ago
Stock futures start lower
U.S. stock futures fell Sunday night.
Futures, which track the Dow Jones Industrial Average, fell 86 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures fell 0.2% and 0.3%, respectively.
— Ha-Kyung Kim
