US MArket Closed Lower, mkt was stronger after Draghi reaffirm commitment to current policy and news of potential US strike in IRaq send the market lower, S&P closed below its 100d MA, DOW settled just above its 200-day moving average (16343) after crossing that level for the first time since February 6. Healthcare was worth performers @ -1.2%, Other countercyclical sectors like consumer staples (-0.8%) and telecom services (-1.0%) also underperformed, while the utilities sector (+1.1%) displayed relative strength to narrow its week-to-date loss to 2.0%, Meanwhile, all six cyclical groups posted losses with the materials space (-0.9%) having the worst showing. Similarly, the other commodity-related sector—energy (-0.7%)—also finished near the bottom of the leaderboard, volume were below average @ 600mil shares...VIX @16.66 +1.77%...- Shanghai Composite is the only regional index with mild declines, erasing post Obama-conference losses on much stronger than expected China trade data. $47B surplus for July is a record high, and even though imports surprisingly
fell 1.6%, double-digit rise in exports more than made up for that decline. Shipments to Europe were particularly strong, up about 17% y/y, while exports to Japan reversed last month's drop with a 3% increase....- Monetary policy statement from the BOJ saw the central bank maintain it overall economic assessment unchanged for the 12th consecutive meeting, b
also downgraded its view on exports and industrial output as had been speculated in local press. BOJ said exports "have shown some weakness", a also added output "recently shown some weakness" though still increasing moderately as a trend. BOJ was also a bit more upbeat on wages, noting "employment and income situation is improving steadily"...Nikkei -2.86% Hang Seng +0.07% Shanghai +0.22%
Eur$ 1.3362 S&P -0.54% EuroStoxx -0.9% FTSE -0.66% Dax -1.05% SMI -0.7%
Macro
- Israel Says That Hamas Has Resumed ‘Indiscriminate Rocket Fire’
- EU Considers WTO Complaint Over Russian Import Ban, BNS Reports
- China July Retail Auto Sales Rise 11.5% on Year, PCA Says
- S&P 500, Dow Jones Futures Fall as Obama Authorizes Air Strikes
Keep an eye on :
- ALV GY : Allianz Confirms FY Outlook, Upper End of Target Range in Reach
- AZA IM : Alitalia to Name Montezemolo Chief on Etihad Signing: Messaggero
- BES PL : Portugal Says Loan to Resolution Fund for BES Aid Will Be EU3.9b
- DEXB BB : Dexia Has EU9.3b Cash Surplus Even as Cash Collateral Up EU3.9b
- GTO NA : Gemalto Buys SafeNet for $890 Million; Closing Seen in 4Q
- HYC LN : *NIPPON KOEI TO PAY 680P-SHR FOR HYDER; HIGHER THAN ARCADIS BID
- III LN : 3i Said to Hire Goldman Sachs for Sale of Agent Provocateur, Value £200m
- NRE1V FH : Nokian Renkaat 2Q Sales, Profit Miss Ests. as Russia Weakens
- RHK GY : Rhoen-Klinikum 1H Ebitda Rises; Still Can’t Provide 2014 Outlook
- S92 GY : SMA Solar’s Urbon Sees 2H Boost From China, U.S.: Handelsblatt
- TOD IM : Tod's 1H Rev., Ebit Miss Ests., Says Confident on 2H