[Truman]

There is speculation that the Bank of England will announce another rate hike at next week’s meeting after above-consensus wage growth in April.

U.K.’s April Average Earnings Index + Bonus 6.5% yr/yr (expected 6.1%; last 6.1%), April three-month employment change 250,000 (expected 150,000; last 182,000), April Unemployment Rate 3.8% (expected 4.0%; last 3.9%). May Claimant Count change -13,600 (expected 21,400; last 23,400)

[Truman]

Bunge (BG 92.00, -1.79, -1.9%): and Viterra to combine to create a premier diversified global agribusiness solutions company; plans to repurchase $2.0 billion of Bunge’s stock to enhance accretion

[Truman]

Oracle (ORCL 122.68, +6.25, +5.3%): beats by $0.09, reports revs in-line, guides Q1 EPS in-line, guides Q1 revs above consensus, sees Cloud revenue, excluding Cerner, growing at rates at least similar to what co experienced in FY23

• This reply was modified 5 months, 4 weeks ago by Truman.

[Truman]

Intel (INTC 33.80, +0.73, +2.2%): Arm (SFTBY) in discussions with strategic investors including Intel (INTC) regarding anchor for IPO, according to Bloomberg

[Truman]

Manchester United (MANU 23.06, +2.88, +14.3%): Qatari might have succeeded in bid for Manchester United, according to UTD District

[Truman]

Apple (AAPL 182.37, -1.37, -0.8%): downgraded to Neutral from Buy at UBS

Urban Outfitters (URBN 33.42, +1.02, +3.2%): upgraded to Overweight from Equal Weight at Morgan Stanley

Home Depot (HD 302.95, +2.09, +0.7%): reaffirms FY23 outlook at Investor Conference

[Truman]

Toyota Motor (TM 155.52, +5.93, +4.0%): introduces new technology that will change the future of cars

[Truman]

Oil prices are rebounding, up 1.4% to $68.06/bbl. Other commodity prices are moving higher this morning
Natural gas futures are up 2.0% to $2.31/mmbtu.
Copper futures are up 2.0% to $3.83/lb.

Treasury yields are somewhat lower compared to yesterday’s settlement levels.
2-yr note yield is down two basis points to 4.56%
10-yr note yield is down three basis points to 3.72%.

[CautiousInvestor]

Dow 34,212.12 145.79 0.43%
S&P 500 4,369.01 30.08 0.69%
Nasdaq 13,573.32 111.40 0.83%
VIX 14.61 -0.40 -2.66%
Gold 1,955.50 -14.20 -0.72%
Oil 69.21 2.09 3.11%

[Truman]

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.

Japan’s Nikkei: +1.5%,
Hong Kong’s Hang Seng: -0.6%,
China’s Shanghai Composite: -0.1%,
India’s Sensex: +0.1%,
South Korea’s Kospi: -0.7%,
Australia’s ASX All Ordinaries: +0.3%.

[Truman]

South Korea’s unemployment rate reached its lowest level since the series began in 1999
South Korea’s May Import Price Index -12.0% yr/yr (expected -9.1%; last -6.0%) and Export Price Index -11.2% yr/yr (expected -13.4%; last -7.2%).
May Unemployment Rate 2.5% (expected 2.6%; last 2.6%)

.

[Truman]

India’s May WPI Inflation -3.48% yr/yr (expected -2.35%; last -0.92%)

[Truman]

New Zealand’s May FPI 0.3% m/m, as expected (last 0.5%).
Q1 Current Account deficit 8.5% of GDP (expected 9.3% of GDP; last 9.0% of GDP)

[Truman]

Japan’s Prime Minister Kishida said that policies supporting growth and a higher birthrate will be pursued. The prime minister may dissolve the lower house of parliament if his opposition files a no-confidence motion on Friday.

[Truman]

The People’s Bank of China cut its seven-day and one-day standing lending facility rates by ten basis points and there was ongoing speculation about broad stimulus measures.

[Author]

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