Dow-1.45% S&P-1.39% Nasdaq-1.15% Russell-1.16%
US Market closed on lows after opening on highs. Equity indices hit their highs shortly after the opening bell with the early move fueled by strengthening risk appetite overseas. To that point, Asian markets posted solid gains with China's Shanghai Composite jumping 2.3% amid continued speculation about government involvement in the market while Japan's Nikkei soared 7.7%, registering its largest one-day gain since October 2008, after Prime Minister Shinzo Abe pledged to lower the corporate tax rate by at least 3.3% but as usual such moves are not very reassuring these last few days...Apple long awaited keynote was a bit disappointing for the investors, AAPL closed lower by 1.9%. energy sector (-1.9%) struggled throughout the day as renewed weakness in oil prices took its toll on the commodity-sensitive sector. The energy space is now down 0.5% for the week while crude oil tumbled 3.9% today to $44.15/bbl. Volume were above average with 905mil shares, and we continiue to see more participation on down mkt that up ones. US After Hours SIGM +7.2%, PANW +4.8%, BOX +3.5%, KKD -17.4%, MTH -8.0%, PPHM -2.5% following earnings/guidance CNW +32.9% (to be acquired by XPO Logistics (XPO) for $47.60/share, or ~$3 bln, EWZ -5.2% (Brazil ETF lower following rating cut at S&P)...Asian indices were on the defensive again after yesterday's outsized rally, tracking the aggressive selling in the US markets that were jolted by the record high JOLTS jobs data boosting expectations of September Fed liftoff. After yesterday's 7%+ jump in Tokyo, Nikkei225 is leading the downside with a near 3% drop in the afternoon session. Sept S&Ps were down another 10pts at the lows of 1,935 in early electronic trade before regaining composure. China Asian indices were on the defensive again after yesterday's outsized rally, tracking the aggressive selling in the US markets that were jolted by the record high JOLTS jobs data boosting expectations of September Fed liftoff. After yesterday's 7%+ jump in Tokyo, Nikkei225 is leading the downside with a near 3% drop in the afternoon session. Sept S&Ps were down another 10pts at the lows of 1,935 in early electronic trade before regaining composure. S&P became the first rating agency to cut Brazil status to junk, lowering credit rating one notch to BB+. S&P said credit profile has weakened further since July 28, citing revision to budget proposals late last month. Based on the fiscal target cited, S&P said, Brazil would remain in deficit for the next 3 years. Brazil ETF EWZ, along with PBR and VALE, were down sharply afterhours following the rating cut.
Nikkei -2.47% Hang Seng -1.93% Shnaghai -0.55%
Eur$ 1.1219 CNY 6.3846 JPY 120.79 BRL 3.78 RUB $68.62 WTI $43.95
S&P +0.27% EuroStoxx -1.16% Dax -0.97% SMI -0.82%
Macro :
- Brazil ETF Falls 4.6% Post-Mkt as Country Cut to Junk by S&P
- Fed Likely to Wait Past Sept W/ Hike Given Turmoil:DB’s Lavorgna
- Li Says China Confident to Achieve Growth Target This Yr
- China Aug. Auto Sales Fall 3.4% Y/y
Keep an eye on :
- ACA FP : Credit Agricole Close to $900m Agreement in U.S. Probe: Reuters
- DBK GY : Deutsche Bank Raised to Hold; Berenberg Sees Break With the Past
- DIA SM : Dia Says Warehouse Blockade Continues; Asks Govt to Help
- EAON GY : EON Sees 3Q Impairments in ‘Higher Single-Digit’ Billions
- ING FP : Ingenico Said to Make Revised Worldpay Bid for Over GBP6b: Sky
- KPN NA : America Movil Offers Bonds Exchangeable Into KPN Shrs
- LOGN SW : Logitech Holders Approve Proposals, Including Div at AGM
- LHA GY : Lufthansa to Offer Schedules Virtually Normal Tomorrow
- ML FP : Michelin Hires Investment Co. for Buyback Program
- MRW LN : Morrison Interim Div. Misses, to Close Another 11 Supermarkets
- NOVN VX : Novartis’s Afinitor, J&J’s Xarelto Get Paragraph IV Challenges
- PHIA NA : Philips Said to Be Interested in Taking Stake in Coway: Yonhap
- ROG VX : Roche’s Zelboraf Works in Hairy-Cell Leukemia Studies
- ROG VX : Roche Holdings Starts Tender Offer for Up to $1b of Notes
- RDSA NA : Shell CEO Said to Reassure Investors on Closing of BG Deal: WSJ
- RWE GY : RWE Municipal Holders Want Mueller as Spvy Board Head, FAZ Says
- MF FP : Wendel NAV/Share EU146.3 at Aug. 31, Up 13% on Year