Weekly Performance
Dow +2,34% S&P +2,41% Nasdaq +2,68% Russell Mexico -0,56% Brazil +2,53% Nikkei +1,27% Hang Seng +3,99% CSI +2,60% Shanghai +2,34% Shenzen +2,02% EuroStoxx +0,42% FTSE +2,96% CAC +0,47% Dax +1,42% Ibex +1,66% MIB -0,72% SMI +1,71%
US stock indices moved out to the best levels since March this week, after inflation readings remained relatively benign, keeping a lid on Treasury yields and lingering inflationary concerns. Regardless, WTI crude finished the week with a $70 handle for the first time since 2015 after Trump made good on his campaign promise to pull out of the Iran nuclear deal. The Greenback continued to melt up causing consternation for several emerging market currencies and resulted in various central bank interventions. The BOE met and, as expected, ratcheted back expectations for further hikes this year. Brexit, NAFTA, and China trade negotiations wore on with little concrete progress to speak of. North American trading partners met in D.C. and remained hopeful that some kind of agreement can be reached by next week's self-imposed deadline, with some speculation that negotiators might shift toward a ‘skinny’ NAFTA deal as a starting point. For the week the S&P500 rose 2.4%, the DJIA added 2.3%, and the Nasdaq gained 2.7%. In corporate news this week, Walmart confirmed an agreement to acquire 77% of India’s Flipkart for $16B in order to accelerate its move into commerce in South Asia. Nestle and Starbucks announced a $7.2B partnership to market, sell, and distribute Starbucks’ coffee brands, excluding the ready-to-drink products. AthenaHealth received an unsolicited $160/share cash offer from holder Elliott Management, who see promise for the company in the healthcare IT industry. Nvidia posted a beat on revenue and earnings in its quarterly report, but warned investors that their cryptocurrency-related chip sales will be reduced substantially this quarter. Disney earnings also exceeded top and bottom line estimates thanks to a slew of blockbusters that drove 21% rev growth in its studio division. Wendy's and Papa John’s lost ground following disappointing results once again.
Macro :
- Trump Said to Propose 20% Tariff on Imported Cars: WSJ
- Trump Presents Drug-Pricing Proposal: TOPLive Key Takeaways
- Drug-Pricing Overhang May Remain Into 2019, Credit Suisse Says
- North Korea Sets Date for Shutting Down Its Nuclear Test Site
- Germany Expects Difficult Energy Talks with Russia, Ukraine
Keep an eye on :
- AENA SM : London Luton Airport Staff Vote Strike, Warns Holiday Disruption
- AIR FP : SpaceX Likely to Build 30 to 40 Rocket Cores Over 5 Years: Musk
- AF FP : Air France-KLM to Stay Merged, Board Member Says: Nieuwsweekend
- BAYN GY : Bayer/Monsanto Syngergies Cut by Divestments, Dietsch Tells BZ
- BP/ LN ; BP CEO: U.S. Sanctions on Iran Could Cut Oil Supply by 1m B/D
- CVG US : Convergys Is Said in Talks With Several Potential Buyers: WSJ
- DIS US : Disney: ‘Avengers: Infinity War’ Globally Collects $1.61 Bln
- IGY GY : Innogy: Still Open Questions on Job Security in RWE-EON Deal
- LHA GY : Brussels Airlines Says There Is No Plan to Cut 200 Jobs
- LUX IM : Luxottica Exits Italy Industry Lobby Ahead of Merger: Repubblica
- MTC LN : Mothercare Is Said Planning to Announce Measures Next Week: Sky
- UG FP : PSA’s Opel Suspends Voluntary Redundancies: Reuters
- QTA CN : Quaterra could be targeted as copper prices rise, COO says (MicroCap)
- SAN SM : Santander Is Said to Be Planning U.K. Digital Bank: Telegraph
- SGO FP : Haelg Sees Saint-Gobain Selling Sika Stake After 2 Years: SamW
- SIE FP : Siemens Says No Plans to Sell Shares in Digital Factory Unit
- SIK SW : Haelg Sees Saint-Gobain Selling Sika Stake After 2 Years: SamW
- TELIA SS : Sweden Should Sell Stakes in SBAB and Telia, Moderates Tell TT
- TEVA IT : Perrigo Won’t Launch Generic of Teva’s ProAir in 4Q --> TEVA +1,6% PRGO -2,6%
- FP FP : Total Signs Agreement to Develop Natural-Gas Resources in Oman
- FP FP : Zanganeh: Total Hasn’t Commented on Leaving Iran Project: IRNA
- VIV FP : Bollore Now Owns More Than 24% of Vivendi: Reuters
- VOD LN : Moody’s Weighs Vodafone Downgrade
- WPP LN : *EX-AOL CEO ARMSTRONG IS SAID CONSIDERED FOR WPP CEO: FT