US MArket Closed lower after Trump executive order on refugee program. The Federal Reserve will release its latest policy statement on Wednesday, which, combined with Friday's release of the January Employment Situation report (consensus 170K), could build a case for a rate hike at the subsequent FOMC meeting. In addition, a full slate of quarterly reports awaits with Apple (AAPL 121.63, -0.32) scheduled to release its results after Tuesday's closing bell. Nine of eleven spaces finished the day in negative territory. Countercyclical sectors populated the upper half of Monday's leaderboard, with consumer staples (+0.1%) eking out a slim gain. The consumer discretionary sector (-0.1%) was the best performer on the cyclical side, finishing just a tick from its flat line. Walt Disney (DIS 110.94, +1.64) underpinned the sector's performance, adding 1.5%, after the company's stock was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley. energy sector occupied the bottom spot on the leaderboard, finishing 1.8% lower after pressure on multiple fronts. US After Hours SANM +10%, WERN +8%, DHT +3% higher following earnings, Shippers extending higher... IDTI and RMBS both 4% lower following earnings/guidance, TEVA -11% after unfavorable patent ruling. JPY and Gold remain bid while Asian equities and US futures are under pressure. Obama-appointed Acting Attorney General Sally Yates has instructed DoJ attorneys not to defend the EO - one which has already been criticized by lawmakers of both parties, foreign leaders, tech and financials (Goldman) CEOs, and State Sec nominee Tillerson. In response, Pres Trump has fired Yates, proclaiming her to be "weak on borders and very weak on illegal immigration". Knee-jerk market response to the firing was to the downside, as the contentious stance could further polarize the anti-Trump protests and complicate the confirmation process for AG-nominee Sessions.
Today's Bank of Japan policy decision was accompanied by continued resilience of economic data, as jobless rate remained at a low 3.1%, household spending decline was lower than expected, and industrial output m/m beat consensus. As speculated BOJ raised its GDP target for FY16, FY17, and FY18 to 1.4%, 1.5%, and 1.1% respectively, while maintaining inflation expectations.
Nikkei -1.69% Hang Seng CSI Shanghai Closed
Eur$ 1.0690 CNH 6.8547 CNY 6.8840 JPY 113.66 GBP 1.2491 CHF 0.9960 RUB 60.04 WTI$ 52.47 -0.30%
S&P -0.24% EuroStoxx +0.18% FTSE +0.10% Dax +0.05% SMI -0.10%
Macro :
- ETF Buyers Return to Precious Metals as Trump Turmoil Sows Angst
Keep an eye on :
- AF FP : Air France’s KLM Transported 30m Passengers in 2016: Echos
- ALFA SS : Alfa Laval 4Q Net Sales Beats Highest Est.
- ATK LN :
- BT/A LN : Orange Said Planning to Hold On to BT Stake Until Shares Rebound
- COMH SS : Com Hem 4Q Underlying Ebitda Beats Ests.; Dividend SEK4.00
- DBK GY : Deutsche Bank Said Near Settlement on Russia Probes: Reuters
- DBK GY : FCA Fines Deutsche Bank GB163m Over Money Laundering Failures
- DGE LN : Diageo Said to Unveil Its Own Irish Whiskey in War With Jameson
- DNA FH : DNA 4Q Rev. Beats Ests.; Sees FY Sales at 2016 Level
- DRX LN : Drax Catalysts Lack Clarity, Cut to Equalweight: Barclays
- EDF FP : EDF Signs Turbine Supply Deals for >3GW of U.S. Wind Projects
- EDF FP : EDF Halts French Belleville-1 Reactor Until Wednesday: RTE
- GFK GY : GfK 2016 Profit. Sales Retreat, Impacted by Growth Projects
- GIVN VX : Givaudan 2016 Ebitda 1.13B, Sales 4.7B; Confirms 2020 Goals
- ITP FP : Interparfums Says 2017 Sales May Reach EU385m-EU390m
- KPN NA : Royal KPN Files 12 Lawsuits After Patent Licensing Talks Fail
- LHA GY : Lufthansa CEO Spohr Wants to Lower Ticket Prices Slightly: WAZ
- MDLZ US : Mondelez Holder Pershing Square Boosts Stake to 6.4%
- NOVN VX : Novartis: Votubia Approved in EU for Seizures in Patients W/ TSC
- REC BB : Recticel Says Clean-Up Ongoing at Czech Plant Damaged by Fire
- CFR VX : Four Richemont Brand CEOs Said to Depart as Overhaul Widens
- RYA LN : Ryanair CEO Says Free Airfare Is an Objective: Handelsblatt
- SBRY LN :
- SDRL NO : Seadrill Restructure Talks Continuing; Targets Deal by April 30
- SFR FP : Drahi Wants to Buy Remaining 51% in NextRadioTV, Echos Says
- SYNN VX : Syngenta CEO ‘Very Optimistic’ on ChemChina Deal Closing: T-A
- TEVA IT : Teva Patents on Copaxone Drug Invalidated by U.S. Judge --> -10% in after hours
- TKA AV : Telekom Austria FY Edbitda EU1.35b, Est. EU1.34b
- TESSB BB : Tessenderlo Names Azzarello CEO of U.S. Fertilizer Business TKI
- TLG GY : TLG Immobilien Placing at EU17.20/Shr, is 3.5% Discount to Close
- UCG IM : UniCredit 2016 Profit Update Disappointing, Goldman Says
- VOD LN : Vodafone-Idea May Face India Regulatory Hurdles, Goldman Says
- VOLVB SS : Volvo’s Europe Heavy-Trucks Market Share Increased in 2016: DI
- VOW3 GY : VW To Pay Departing Compliance Chief EU13 Million: Handelsblatt