U.S. Corporate Earnings Season Begins Amidst China Trade Concerns

With markets now re-shuffling central bank rate cut calendars, attention switches abruptly to the first quarter U.S. corporate earnings season on Friday - against a backdrop of an alarming swoon in China trade last month and rising Middle East tension.

But clocking a 0.7% rebound in the S&P500, the general market mood improved considerably after Wednesday's inflation-related shakeout. Softer U.S. producer price readings for March - including in key components that feed the Fed's favoured PCE inflation gauge - were a big relief to interest rate markets.

Fed futures re-calibrated again, pushing back closer to pricing two rate cuts this year - starting in September just six weeks before the U.S election. While a June start is now off the agenda, the chance of a move as soon as July moved back above 50%.The easier producer price numbers and Fed speakers were also enough to drag Treasury yield back off the year's highs - with two-year yields recoiling from 5% to settle just over 4.90% first thing on Friday.

German two-year government debt yields fell back 10 basis points and European stocks jumped 1% on Friday as a result.The dollar was also bolstered by ongoing Japanese yen weakness to 34-year lows and the shocking Chinese trade data that hit the yuan. And former Federal Reserve Chair Ben Bernanke will set out on Friday how the Bank of England should reform its economic forecasting.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stocks Climb Most in Four Months on Fed, China EarningsA key measure of Asian stocks rose to its highest level since April 2022, powered by technology companies and the Federal Reserve’s supportive comments on the outlook for US interest-rate cuts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

China Stocks Rebound Cools as Earnings Disappoint, Yuan Weakens(Bloomberg) -- Chinese stocks declined Friday and were set to halt a five-week rally, weighed down by losses in Hong Kong-listed technology shares and a slew...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

China Stocks Rebound Cools as Earnings Disappoint, Yuan WeakensChinese stocks declined Friday and were set to halt a five-week rally, weighed down by losses in Hong Kong-listed technology shares and a slew of disappointing earnings reports.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Investors Shun Greater China and India, Reward Japan as Earnings Season Winds DownAs the Asia-Pacific reporting season takes a breather, a look at how investors have received earnings shows they’ve clearly been favoring Japanese companies’ stocks, while shunning those in Hong Kong, China and India.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

China's Huawei continues rebound with strongest earnings growth since 2019China's Huawei Technologies saw its fastest growth in four years in 2023, with a rebound in its consumer segment and income from new businesses like smart...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

China's Huawei continues rebound with strongest earnings growth since 2019Explore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »