This content was published on <\/p>\n
July 22, 2025 – 01:24\n<\/p>\n
(Bloomberg) \u2014 Asian shares are poised for a muted open after US stocks gave up most of their gains on Monday, with traders looking for signs of resilience in corporate earnings amid tariff risks.\u00a0<\/p>\n
Equity-index futures pointed to small gains in Hong Kong and Sydney in early trading. Shares in Tokyo \u2014 where Prime Minister Shigeru Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the upper house election \u2014 may open flat as trading resumes after a public holiday Monday.<\/p>\n
While the S&P 500 closed above 6,300 for the first time, the gauge rose just 0.1%. Chipmakers almost erased their advance as Nvidia Corp. slipped. Gains in Treasuries were led by longer maturities, with the 30-year yield down four basis points to 4.94%. The dollar slid.<\/p>\n
A cohort of the world\u2019s largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink.<\/p>\n
Tesla Inc. and Alphabet Inc. will report this week. The stakes will again be high as investors look for updates on artificial-intelligence spending.<\/p>\n
\u201cEarnings season will move into full swing this week, and the guidance will be more important than usual,\u201d said Matt Maley, chief market strategist at Miller Tabak. \u201cThis guidance is going to have create a very large increase in earnings estimates if the market is going to reach some of the targets that exist on Wall Street right now.\u201d<\/p>\n
Investors also kept a close eye on tariff headlines. Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added.<\/p>\n
Meanwhile, Philippine President Ferdinand Marcos Jr. will be the latest foreign leader eager to make a deal before the US-imposed Aug. 1 tariff deadline when he visits Trump in the Oval Office later Tuesday.<\/p>\n
Japan\u2019s stock and bond markets will reopen after a national holiday following its election, with government bonds vulnerable to further selling. The yen strengthened versus the dollar on Monday, after weakening for most of July.<\/p>\n
In the US, the second-quarter earnings season is off to a ripping start, with consumer strength powering resilient corporate profits. Yet after hitting a series of all-time highs, the S&P 500 is trading around 22 times expected 12-month profits.<\/p>\n
\u201cWhile stocks may be due for a breather, we believe the bull market remains intact,\u201d said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. \u201cWe maintain our June 2026 S&P 500 price target of 6,500, and recommend using volatility as an opportunity to phase into markets.\u201d<\/p>\n
The S&P 500 hasn\u2019t posted a 1% up or down day since late June, and Mark Hackett at Nationwide notes that volatility gauges also remain \u201csuspiciously quiet.\u201d\u00a0<\/p>\n
\u201cThis calm is unusual and may reflect both investor fatigue and institutional hesitation to fight the current trend,\u201d he said. \u201cWe\u2019re in a window where calm can quickly turn to complacency. While a break in either direction is possible, current positioning suggests we\u2019d bet on a rally before a drop.\u201d<\/p>\n
Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
S&P 500 futures were little changed as of 8:13 a.m. Tokyo timeHang Seng futures rose 0.3%S&P\/ASX 200 futures rose 0.1%<\/p>\n
Currencies<\/p>\n
The Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1693The Japanese yen was little changed at 147.46 per dollarThe offshore yuan was little changed at 7.1708 per dollar<\/p>\n
Cryptocurrencies<\/p>\n
Bitcoin rose 0.3% to $117,351.23Ether was little changed at $3,757.51<\/p>\n
Commodities<\/p>\n
West Texas Intermediate crude fell 0.1% to $67.10 a barrelSpot gold was little changed<\/p>\n
This story was produced with the assistance of Bloomberg Automation.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on July 22, 2025 – 01:24 (Bloomberg) \u2014 Asian shares are poised for a…\n","protected":false},"author":2,"featured_media":10407,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,5471,99,12354,13895,171,2004,12355],"class_list":{"0":"post-12063","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-au","9":"tag-australia","10":"tag-bonds","11":"tag-business","12":"tag-business-general","13":"tag-currency-values","14":"tag-markets","15":"tag-stocks","16":"tag-ticker"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/12063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=12063"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/12063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/10407"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=12063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=12063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=12063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}