Weekly Performance
Dow +1.94% S&P +1,54% Nasdaq +1.73% Russell Canada +0.28% Mexico +1.14% Brazil +2.36% Nikkei +0.65% Hang Seng +2.68% CSI +1.43% Shanghai +0.38% Shenzen -1.41% EuroStoxx +1.01% FTS -0.62% CAC+0.17% Dax +1.43% Ibex +0.16% MIB +1.36% SMI -0.39%
US stocks extended their climb, powering through 26K on the Dow and 2,800 on the S&P for the very first time. Trading resumed following the MLK break with a key reversal in US equity indices which spawned some hope for the bears, but as has been seen so often markets sprang back to new all-time highs within 24 hours. Economic data faded into the background while corporate headlines came into focus. Earnings season picked up in intensity while preannouncements dotted the landscape. Though it is early in the year, it has become increasingly clear that analysts have more work to do to reconcile their estimates for corporation earnings impacted by the tax reform package passed late last year. For their part, firms continued to release details on how they intend to put the expected tax windfalls to work for both investors and employees. By Friday, even the real threat of a US government shutdown did little to dent the momentum. For the week the S&P500 gained 0.9%, while the DJIA and Nasdaq each added 1%.
Macro :
- *U.S. GOVERNMENT PARTIAL SHUTDOWN STARTS AMID FUNDING LAPSE
- Economy Minister Says Swiss Tax Rate Still Attractive: SamW
- Spain Raised to A- From BBB+ By Fitch; Outlook Stable
- Greece Raised to B From B- by S&P
Keep an eye on :
- AES US : ValueAct’s Ubben Owns 1.53m Shares in AES
- AIR FP : Airbus Cash Flow to Rise From A320, A350 Production, JDD Says
- BMY US : Bristol-Myers: Median OS Not Yet Reached in Opdivo/Yervoy Study
- CELG US : Celgene Says Results From Abraxane Regimen Study ’Encouraging’
- CLLN LN : PE Investors Are Said to Be Eyeing Carillion Assets: FT
- CON GY : Continental CFO Sees Potential EU4b-EU5b M&A Volume: Euro am S.
- CSGN SW : Credit Suisse, UBS Are Said to Increase Bonus Pool, SaW Reports
- DIA SM : LetterOne Increases DIA Stake to 25%, Plans no Takeover Bid
- DIS US : CNN Says Jeff Zucker Loves His Job, Has No Interest to Run ESPN
- DIS US : Disney Says ‘Last Jedi’ Becomes No. 9 Global Release of All-Time
- DXNS LN : Dixons Carphone Names Alex Baldock Group CEO
- EDF FP : Dalmore Capital Mulls Stake in EDF’s Sizewell: Sunday Telegraph
- ENGI FP : Engie Board to Keep CEO, Chairman Roles Separate, Le Maire Says
- FEVR LN : Rumor could be a target for Unilever
- GEN DC : Genmab Says FDA Grants Priority Review for Daratumumab
- GKN LN : GKN Sees Driveline Sales to Increase to GBP500m by 2022
- GLEN LN : Bunge Soars on Report ADM Is Said to Have Made Takeover Approach
- IWG LN : Brookfield, Onex Get More Time to Bid for Office Provider IWG
- MC FP : LVMH Names Hedi Slimane as Creative Director of Celine brand
- MN IM : Reworld Media May Consider Bidding for Mondadori France: Sole
- ORA FP : French Finance Min. Says Orange CEO Should Resign if Convicted
- PUM GY : Puma recovery gathers pace, Sportswear brand hopes to close gap on rivals but concedes it has much to do
- RMG LN : Royal Mail Offered to Draft New Pension Regulations: FT
- SANM US : *SANMINA DROPS 17% POST-MKT AFTER 1Q PRELIM. RESULTS MISS ESTS.
- SIE GY : Siemens Employee Shareholders Won’t Back CEO Kaeser at AGM: WamS
- SIK SW : Sika CEO Says Ready to Make Offer for Burkard Family Stake: FuW
- 9984 JP : Softbank aims to create a global ride hailing alliance after recent acquisition of 15% Uber stake - Nikkei - Partnerships may emerge with rivals like China's Didi Chuxing, Singapore's Grab, and India's Ola.
- UBSN SW : Credit Suisse, UBS Are Said to Increase Bonus Pool, SaW Reports
- VIV FP : Vivendi appeal against telecoms regulatory ruling regarding Mediaset postponed until 4 July
- WYN US : Airbnb Said to Drop Bid for Wyndham’s European Ops: Sunday Times