Weekly Performance
Dow +2.86% S&P +1.53% Nasdaq -0.60% Russell Mexico -0.43$ Brazil -2.55% EuroStoxx -1.50% FTSE -147% Cac-1.36% Dax -1.52% Ibex +0.31% MIB -1.38% SMI -0.55% Nikkei +1.19% Hang Seng -2.65% CSI -2.58% Shanghai -1.08% Shenzen -0.31%
Stock indices moved further into uncharted territory this week on the belief tax cuts are coming from Washington DC. A mid-week rotation out of tech raised some eyebrows when high beta growth stocks fell sharply for a session. The Dow, S&P and Russell all charged ahead largely unabated, except for bouts of selling into Friday. A delayed Senate vote Thursday caused mild consternation heading into the session. Then on Friday, a report that former NSA Michael Flynn was prepared to testify against President Trump as part of plea deal caused flurry of risk off trade midway through the session. By the end of the day, markets recovered much of those losses, and for the week the DJIA gained 2.9%, the S&P500 added 1.5%, and the Nasdaq dropped 0.6%.
Macro :
- IFO Sees Brexit Net Trade Costs at EU16B for U.K., EU44B for EU
- Merkel Seeks to Expedite Infrastructure Projects in Germany
- Spain to Start 5G Network Frequency Auctions, Expansion Reports
- U.K.’s Clark Expects Agreement on Brexit Issues: Handelsblatt
Keep an eye on :
- ADS GY : Adidas CEO Wants Spending Caps for Soccer Clubs: Rheinische
- AET US : Aetna’s Board Is Said Set to Approve $68B Sale to CVS: Reuters
- CRG IM : Intesa, Unipol, Generali to Take Part in Carige Cap Hike: Ansa
- DIS US : Disney Is Said to Have Re-Engaged in Talks for Fox Assets: WSJ
- EOAN GY : Germany Should Make CO2 Polluters Pay More: EON CEO to Spiegel
- FCA IM : Fiat in Talks With U.S. to Settle Diesel Case, Marchionne Says
- FCA IM : Marchionne in Talks With Hyundai on Partnership, Not Merger, Fiat To Push Ahead With Marelli, Comau Spinoffs: Marchionne, Alfa Romeo-Maserati Spinoff Not For Many Years: Marchionne
- GSK LN : GSK Is Said to Invest in U.K. Research Ahead of Brexit: FT
- ISAT LN : potential target for Echostar & Dish - FT
- LHA GY : Lufthansa Plans Extra Charge for Business-Seat Selection: WiWo
- LHN SW : Three Men Charged as Part of French Lafarge Syria Probe
- MRK GY : Nestle, Stada Are Said to Prepare Rival Bids for Merck Unit:Rtrs
- MUV2 GY : Munich Re to Increase Investment in Equities: Boersen-Zeitung
- NOKIA FH : Nokia Is Said to Stop Pursuing Juniper After Reports: CNBC
- PRY IM : Prysmian readying all-cash bid for General Cable; could also seek to buy Nokia's Alcatel Submarine Network
- ROG VX : Roche Granted FDA Orphan Drug Status for Idasanutlin, Takeda Pharma Treatment Granted Orphan Drug Status by FDA
- RYA LN : Ryanair Bids for Landing Rights at Berlin Tegel Airport
- SAN FP : Sanofi Ends Development of Clostridium Difficile Vaccine
- TIT IM : Telecom Italia Board Is Said to Discuss Network Options: Reuters
- TEVA IT : Teva Rises With Mylan on Prospects For Own Herceptin Biosimilar
- TMG NA : De Mol Sells Entire TMG Stake To Largest Shareholder Mediahuis
- TRYG DC : Tryg Says It’s in Talks on a Potential Acquisition of Alka
- VOD LN : Vodafone May Seek New Audit Firm to Replace PwC: Sky
- VOW3 GY : Detained VW Manager Says Company Told Him to Lie, Bild Reports
- VOW3 GY : VW Is Said in Talks to Buy Stake in Russia’s GAZ: Reuters