Dow+0.69% S&P+1.16% Nasdaq+0.78% Nikkei+0.20% Hang Seng-1.96% Shanghai-10% EuroStoxx+0.02% FTSE+1.77% CAC+0.50% Dax-0.34% IBex-1.14% MIB+0.13% SMI+1.13%
US equity markets recovered some ground this week and the Shanghai Composite appeared to stabilize after another round of government pledges. The DJIA is looking a little shaky, weighed on by pain in the commodities related industrials, but the S&P500 is within sight of the recent all-time highs, notching a 1.2% gain on the week. Despite pledging hundreds of billions to prop up its market, China's stocks sunk another 8.5% on Monday - the biggest one-day drop since 2007 - drawing another promise from the China Securities Finance Corporation(CSFC) to boost its stock purchases. The FOMC statement kept expectations of a September rate hike alive without pre-committing, while Thursday's upward revisions to past core PCE readings and a hotter than expect initial Q2 core PCE print only supported that notion. Short term US Treasury yields backed up to levels not seen since early June as traders rotated into the US long bond, likely on the belief that rates can only rise very gradually under the current subdued growth outlook. The US Q2 employment cost index threw markets a bit of a curve ball on Friday, unwinding some of the week's earlier bets the Fed was on the precipice of raising rates for the first time since 2006. The prospect of a Puerto Rico bond default over the weekend also dampened sentiment.
Macro :
- Varoufakis Says Fear Can't Be Foundation for New Europe: Pais
- Italy’s Poletti Sees More Stable Job Contracts: Repubblica
- Fed’s Bullard: ‘We Are in Good Shape’ to Raise Rates in Sept:WSJ --> Link : http://on.wsj.com/1LWDHU0
- Greece may seek up to 24 billion euros in first new aid tranche: paper - Reuters --> Link : http://reut.rs/1fTAGYs
- Did We Just Hit The Threshold For Short Covering In Gold?--> Link : http://bit.ly/1KHkTJM
- Altmaier Says Merkel Re-Election Plan Report ‘Speculation’: Bild
- A banking scandal is set to bankrupt Europe’s poorest country- The Economist
Keep an eye on :
- AIR FP : Iran to Buy as Many as 90 Planes to Start Fleet Renewal: IRNA
- AREVA FP : Areva Needs Chinese Nuclear Investment, Chairman Tells JDD
- BMW GY : BMW ‘Frequently in Talks’ With IT Cos Including Apple: FAS
- BMW GY : BMW Considers New Electric Car Between i3, i8 Models: FAS
- CNA LN : Centrica CEO Signals Pull Back From Exploration Business: FT
- DAI GY : Mercedes to Halt Truck Production in Brazil for 20 Days: Estado
- DAI GY : Daimler Workers in Germany Seek New Labor Deal in 2015: DPA
- DB1 GY : Deutsche Boerse Plans ‘Small’ Stock Sale to Fund 360T Deal: FAS
- DGO LN : ENOC Increases Offer for Dragon Oil to 800 Pence a Share
- DGO LN : ENOC Wins Over Dragon Oil Minority Owners After Boosting Offer
- EI FP : Essilor Studying Potential Acquisitions, CEO Tells Investor
- EIT IM : Ei Towers CEO Looking at Mid-Sized European Acquisitions: Sole
- FCA IM : Chrysler Recalls 284,153 Dodge Chargers on Oversensitive Air Bag
- FPE3 GY : Fuchs Petrolub Buying SFR Lubricants to Expand in Scandinavia
- HSBA LN : HSBC Said to Increase Provisions for Misconduct Probes: Sky
- IHG LN : InterContinental Weighing Bids for Fairmont, Movenpick: Times
- ISP IM : Intesa CEO Says Italy Out of Record-Long Recession: Corriere
- RR/ LN : Rolls-Royce urged to accelerate cost cuts - FT --> Link : http://on.ft.com/1M5beNv
- RSA LN : RSA Will Seek Minimum 600p/Shr Bid From Zurich: S. Telegraph
- UBER IPO : Uber Valued at More Than $50 Billion --> Link : http://on.wsj.com/1N08EWf
- ZC FP : Zodiac Aerospace Says Restart of Damaged Plant on Schedule
- ZURN VX : Zurich Said in Talks to Raise More Than $4b for RSA Bid