Weekly Performance
Dow+1.11% S&P+0.91% Nasdaq+2.60% Russell+0.53$ Nikkei-1.54% Hang Seng -3.56% Shanghai-7.85% Brazil+3.14% EuroStoxx+1.21% Eurostoxx 600 +0.52% FTSE +0.97% CAC+0.95% Dax+1.72% Ibex+0.79% MIB+1.14% SMI -0.15%
After China refrained from expected stimulus moves over the weekend, global markets went into hysterics on Monday morning. Chinese stocks went negative on the year, helping to trigger a mini flash on at the New York open, sending the S&P 500 into its first correction in three years. China fears hit emerging markets again, exacerbating tensions in the market that were already on edge about the uncertainties surrounding an impending Fed rate hike. Chinese stimulus finally materialized after the Shanghai market closed on Tuesday, helping to reverse US stocks that morning though they retested the Monday lows by the end of the session. The fever broke on Wednesday as Chinese stocks stabilized, and bargain hunters began pouring in, sending most global equity markets higher through the back half of the week. Trading volumes remained very heavy during what is normally a quiet late August week and currency and commodity markets experienced wild volatility spikes as well. By the end of a week that shook complacent markets, the DJIA ended with a 1.1% gain, the S&P500 was up 0.9%, and the Nasdaq added 2.6%.
Macro :
- ECB’s Constancio: Inflation Influenced by Negative Demand Shocks
- El-Erian Says Jobs Report Could Be Key to Fed in September
- Obama Inches Closer to Veto-Proof Support for Iran Nuclear Deal
- Fed, ECB, BOE Officials All Say They See Inflation Rising
- 3 Reasons Markets Lost Faith in China's Economy, At a Glance
Keep an eye on :
- ABG/P SM : Abengoa in Talks With BlackRock to Back Share Sale: Cinco Dias
- AGS BB : Ageas Agrees to Sell Hong Kong Unit to JD Capital for EU1.23b
- AH NA : Ahold Raised to Baa2 from Baa3 by Moody’s, Outlook Stable
- ALU FP : Alcatel Changed Incentive Plan Conditions Because of Nokia Deal
- ALU FP : Alcatel CEO May Get Up to EU13.7 Million as He Quits, JDD Says
- ALV GY : Borealis, Allianz Said to Jointly Bid for City Airport:Telegraph
- AVV LN : Aveva shares gain on talk of possible counterbids from US and German engineering groups - FT
- BXLT US ; Baxalta Said in Talks to Buy Ariad to Boost Oncology Offerings
- BAYN GY : Bayer to Weigh New Three-Pillar Structure, Handelsblatt Reports
- DBK GY : Deutsche Bank Job Cuts May Cost Billions, Welt Am Sonntag Says
- ENI IM : Eni discovers ‘supergiant’ gasfield near Egypt - FT
- ISAT LN : Inmarsat Confirms Successful Launch of Third GX Satellite
- LHA GY : Lufthansa to Combine Airline’s Pilot Training Centers: Spiegel
- SAB LN : SABMiller Said to Strengthen Takeover Defenses: Sunday Times
- SHP LN : Shire Said Ready to Cut Costs $1b on Baxalta Deal: Sunday Times
- SYNN VX : Artisan Partners Says Syngenta Threw Away $15b-$20b: WSJ
- VOW3 GY : German Carmakers Cut 2015 China Sales Outlook on Turmoil: Focus
- VOW3 GY : Volkswagen to Sell 19.9% Stake in Suzuki Motor Corp After Ruling
- VOW3 GY : Volkswagen Says It’s Undecided Regarding Buyer for Suzuki Stake