Weekend News Round Up - Newsquawk Asia-Pac Market Open

US stocks gave up moderate gains on Friday and traded in a choppy fashion with the Utilities the outperformer and the Tech sector lagged, while further choppiness was seen towards the end of the session which traders attributed to the Nasdaq 100's special rebalancing and ahead of this week's risk events.
North Korea fired "several" cruise missiles into the Yellow Sea early Saturday morning, according to the South Korean military cited by Japan Times.
Highlights include New Zealand Trade Data, Australian Flash PMIs, Japanese Flash PMIs, New Zealand Credit Card Spending & Singapore CPI.

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Highlights include New Zealand Trade Data, Australian Flash PMIs, Japanese Flash PMIs, New Zealand Credit Card Spending & Singapore CPI.

US TRADE

US stocks gave up moderate gains on Friday and traded in a choppy fashion with the Utilities the outperformer and the Tech sector lagged, while further choppiness was seen towards the end of the session which traders attributed to the Nasdaq 100's special rebalancing and ahead of this week's key risk events.
SPX +0.03% at 4,536, NDX -0.26% at 15,425, DJIA +0.01% at 35,228, RUT -0.35% at 1,960.
Click here for a detailed summary.

NOTABLE HEADLINES

Chevron (CVX) Q2 (USD) Adj. EPS 3.08 (exp. 2.98), adj. net income 5.8bln (exp. 5.6bln), rev. 6.0bln (exp. 5.5bln).

IEA’s Executive Director Birol said they will revise global oil demand growth projections based on the economic growth prospects of China and some other countries, while he reiterated the view that oil markets are expected to tighten in H2.
UAE Energy Minister said the role of OPEC+ is crucial in the energy market for producers and consumers, while OPEC+ actions are crucial for the stability of markets and what it is doing is adequate.
UK Energy Minister Schapps vowed to max out the UK’s North Sea oil and gas reserves and said Britain has no option but to extract remaining fossil fuel reserves to ensure energy security, according to FT.

North Korea fired "several" cruise missiles into the Yellow Sea early Saturday morning, according to the South Korean military cited by Japan Times.
G7, EU, Australia, New Zealand and South Korea urged China to help stop North Korea from evading UN sanctions by using Chinese territorial waters, according to a letter.
US Secretary of State Blinken said Ukraine has taken back 50% of land Russia seized and noted that Ukraine’s counteroffensive against Russia is tough and will play out over several months, according to a CNN interview.
Russian Defence Ministry said Ukraine launched an artillery strike on a group of journalists, according to Reuters.

NOTABLE APAC HEADLINES

PBoC party chief attended a meeting with BoJ and BoK heads in Yokohama for the 12th Trilateral Central Bank Governors Meeting.
China's top diplomat Wang Yi proposed high-level official talks among China, Japan and South Korea in a meeting with the Japanese Foreign Minister this month, according to Kyodo.
UK Foreign Secretary Cleverly postponed a planned trip to Beijing this month, according to Bloomberg.
Hong Kong strengthened radiation inspections on seafood imports from Japan, according to Kyodo.

NOTABLE HEADLINES

UK Treasury will summon the heads of Britain’s largest banks for a meeting on new free-speech rules and to explain how they intend to ensure customers are not “de-banked” for their political views after former UKIP leader Farage’s account was closed by Coutts, according to FT.
None of the individual parties, nor the left or right blocs are seen to win an outright majority in the Spanish parliamentary election after 95% of votes counted. Spain’s conservative People’s Party is seen ahead with 136 seats of the 350-seat parliament and PM Sanchez’s socialists PSOE is in second place with 122 seats, while far-right Vox is seen third with 33 seats and left-wing Sumar is seen to win 31 seats, according to Reuters.
Greece’s Emergency Communications Service issued evacuation orders for part of Corfu due to wildfires, according to Sky News.