Weekly Performance
Dow +0.80% S&P +1.37% Nasdaq +2.71% Russell +2.62% Mexico -0.57% Brazil +1.20% EuroStoxx +0.16% FTSE +0.42% CAC +0.37% Dax -0.21% Ibex -0.19% MIB +0.52% SMI +0.40% Nikkei +1.23% Hang Seng +0.38% CSI +0.92% Shanghai +1.07% Shenzen +2.42%
Stock markets moved higher this week in continued thin, late summer trading conditions. Investors once again quickly looked past the concerning escalation of hostility by the North Korean regime, and catastrophic floods in the Houston area brought about by the historic rains of Hurricane Harvey. A narrative emerged that politicians in Washington would be more likely to come together and pass legislation in order to support Texas in its hour of need, rather than bicker over raising the debt ceiling when they return to work next week. Wednesday, the President kicked off what is expected to be an all-out press to get major tax reform signed into law by the end of the year at a address in Missouri. By Friday reports circulated that Trump was going to request $5.9B in Harvey aid while also pulling back on a threat of a forced government shutdown over border wall funding. Major US indices rose back to within striking distance of all time highs, lead by the NASDAQ, while the VIX fell 10% to sit just above 10 once again. For the week the S&P rose 1.4%, the Dow added 0.8% and the NASDAQ gained 2.7%.
Macro :
- May Set to Agree on $65 Billion Brexit Bill, Sunday Times Says
- EU’s Vestager Says State Aid Rules Shouldn’t Hinder Innovation
- Padoan Says Italy Improving Debt Mgmt as It Plans for End of QE
- Sweden Proposes Welfare Profit Cap, Excludes Health Care: SVT
Keep an eye on :
- ABN NA : ABN Amro Group, Grifols to Join S&P Europe 350
- AB1 GY : Air Berlin Is Said to Pay 10% Interest for Bridge Loan: BamS
- ALPH SW : Alpiq Sees CHF2.2b Swiss Hydro Power Market Deficit By 2021: SaW
- AKE FP : Arkema Says Fire Seen at Texas Plant Soon After 5pm
- BAYN GY : Bayer, Monsanto May Need to Resolve Any Serious Concerns: EU
- BCP PL : BCP Says Requested Legal Assessment Won’t Halt Novo Banco Sale
- BOL FP : Bollore First Half Revenue EU7.1b
- CLN VX : White Tale Wants Clariant to Sell Plastics & Coatings Unit: SZ
- FB US : An Instagram hack hit millions of accounts, and victims’ phone numbers are now for sale
- FCA IM : Fiat CEO Says There Is No Big Deal on His Table: Marchionne
- FCA IM : Fiat Chrysler to Spin Off Car-Part Unit as No Big Deal on Table
- GL FP : Galeries Lafayette to Buy 100% of La Redoute by 2021: JDD
- GVNV NA : GrandVision Will Boost Its Stake in Visilab to 60% From 30%
- GRF SM : ABN Amro Group, Grifols to Join S&P Europe 350
- IMG LN : Rise of 82% in licensing revenue bodes well for upcoming sale - FT
- LUPE SS : Lundin Mining Could Buy Mining Company of Significant Size: DI
- NETS DC : Nets Is Said to Start Exclusive Talks for Takeover: Reuters
- PACD US : NYSE said the company is below compliance with its continued listing standards; to be delisted if unable to resume compliance within 6-months
- UG FP : PSA’s Opel Unit Said to Lose EU4m Each Workday: Automobilwoche
- SAN FP : Sanofi Gets Tentative FDA Approval of Admelog
- SPD LN : Sports Direct investors to fight share buybacks which would increase founder Mike Ashley’s stake
- TIT IM : Telecom Italia to Name New CEO Within Weeks: Recchi to Corriere
- TEVA IT : -2.75% in TLV
- TUI GY : TUI Seeking Acquisitions as Divestments Fill War Chest: FAZ
- VIV FP : Fininvest, Mediaset Seek EU3B Legal Damages From Vivendi: Sole