15 minutes ago
JP Morgan strategist is cautious about global earnings growth
Global corporate profit growth may come under pressure this year as the global economy declines slightly, according to Mislav Matejka, a strategist at JP Morgan.
“We are generally cautious on global earnings prospects given high margins, pricing risks and volume disappointments,” Matejka wrote. “The consensus forecast for EPS momentum to re-accelerate this year and next may be too optimistic.”
“Within this, relative regional earnings prospects are important to relative regional performance. More recently, outperformance in the US has been supported by better relative EPS momentum,” Matejka added.
8 hours ago
Oil prices rose slightly after Iran-linked missiles killed US forces
Oil prices rose after missiles fired by Iranian-backed militants killed American soldiers in Jordan.
Global benchmark Brent crude traded 0.35% higher at $83.84 a barrel on Monday, while US West Texas Intermediate crude futures rose 0.42% to $78.34 a barrel.
According to the White House, Three American soldiers were killed in a drone attack on forces stationed at a site in northeastern Jordan near the Syrian border on Sunday.
-Li Ying Shan
9 hours ago
Evergrande shares fell 12% before trading was halted after a court ordered the liquidation
Evergrande's Hong Kong-listed shares fell 12.2% in early trading before being halted on Monday after a Hong Kong court ordered the Chinese property developer to be liquidated.
Once one of the country's largest real estate developers, Evergrande has been hit by Beijing's debt crisis in recent years.
The world's most indebted real estate developer defaulted in 2021 and announced a program to restructure external debt. in March last year.
before the ruling, Wall Street Journal It was reported that Evergrande's overseas creditors failed to reach an agreement at the 11th hour this weekend for a restructuring, which could mean an imminent liquidation of the property.
– Shreyashi Sanyal
11 hours ago
Singapore's central bank remains firm at its first policy meeting of the year
Singapore's central bank kept its monetary policy unchanged as expected on Monday in its first quarterly monetary policy decision for 2024.
The Monetary Authority of Singapore said it will maintain the exchange rate policy band known as the Singapore dollar nominal effective exchange rate, or S$NEER.
“The Monetary Authority of Singapore will closely monitor global and local economic developments, and will remain vigilant towards risks to inflation and growth,” the central bank said in a statement. Policy statement.
The central bank said it expects the country's gross domestic product to improve in 2024, and estimates growth between 1% and 3%.
Core inflation is expected to rise in the current quarter “partly due to the one-time impact of the 1% GST increase from January this year,” the Monetary Authority of Singapore said. Singapore raised the goods and services tax by one percentage point on January 1.
The benchmark Straits Times Index rose 0.1% in early trading.
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– Shreyashi Sanyal
12 hours ago
Six Dow Jones companies report earnings this week
Six of the 30-stock Dow Jones Industrial Average will release quarterly results this week.
Microsoft will report its earnings on Tuesday after the bell. Boeing, which has been hit by problems with its 737 Max 9 planes, will report its quarterly earnings on Wednesday morning.
On Thursday, Honeywell and Merck will report, followed by Apple after the bell. Chevron will announce its results on Friday morning.
— Hakyung Kim
13 hours ago
Stock futures open lower
US stock futures fell on Sunday night.
Futures contracts tied to the Dow Jones Industrial Average fell 86 points, or 0.2%. S&P 500 and Nasdaq 100 futures fell 0.2% and 0.3%, respectively.
— Hakyung Kim
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