US Market closed lower, a big drop in the energy sector (-3.1%) keeping the market under pressure throughout the session...The energy sector widened its fourth-quarter loss to 15.9% with crude oil settling lower by 4.5% at $60.92/bbl. Today's slide took place after China reported its lowest year-over-year growth in CPI (1.4%) and OPEC cut its demand forecast. In addition, crude stockpiles showed an unexpected build. Following today's drop, the energy component is down 33.4% since the end of the third quarter...materials sector(-2.1%) spent the day at the bottom of the leader board...the industrial sector (-1.9%) slumped under the weight of Boeing -3,9% after Airbus investor day -10% in europe...YUM -6,2% after disap. guidance that echoed global growth concerns...volumes were ahead of average 890mil shares...VIX @ 18,53% +24,45%...US After Hours RH +6.8%, CTVI +3.9%, URBN +2.9%, WTSL-39.1%, LAKE -8.3%, MW -0.3% ...Asian indices echoed another pummeling in the US markets where year-end profit taking has taken stocks down for the 3rd straight day. Safe-haven US bonds are firmly bid amid political uncertainty in Greece, slowdown in China, and looming FOMC meeting next week, with the yield on the US 10-yr at 2-month lows and 30-yr at 20-month lows. Tracking lower US yields, USD/JPY fell below 117.50 - a 2-week low...China Securities Regulatory Commission (CSRC) said it plans to inspect margin trading leverage issues for brokers next week due to outsized volatility in the A-shares over the past week. Separately, a press report indicated PBoC has been easing lending conditions, targeting 2014 Yuan loans to hit CNY10T v CNY8.9T reached in 2013...Nikkei -0.89%...Hang Seng -1.12%...Shanghai -0.97%.
Eur$1.2454 S&P +0.10% EuroStoxx -0.38% Dax -0.34% SMI -0.44%
Macro :
- Germany Has EU1b Anti-Red Tape Plan for Startups: Handelsblatt
Keep an eye on :
- ACS SM : ACS Wins Contract to Build Highway in Colombia: Cinco Dias
- ATC NA : Altice’s Ratings Under Review for Downgrade by Moody’s
- BARC LN : NY Regulator Said to Probe Deutsche Bank, Barclays FX Algorithms
- BMW GY : BMW CEO Change Was Pushed by Quandt Family, Handelsblatt Says
- BOL FP : Bollore to Supply Electric Buses in France, La Tribune Says
- CON GY : Schaeffler Plans to Work Closer With Continental: Sueddeutsche
- DBK GY : NY Regulator Said to Probe Deutsche Bank, Barclays FX Algorithms
- DBK GY : Deutsche Bank Preferred to SocGen, Jefferies Says; Both PTs Cut
- ELE SM : Endesa to Replace Viscofan in IBEX 35 Index
- FER SM : Ferrovial Teams With Firstgroup to Challenge Renfe: Expansion
- ITX SM : Inditex 9-Month Sales, Net In Line With Ests.
- DEC FP : JCDecaux, Vodafone Sign 15-Yr Contract for Small Cells
- REP SM : Repsol to Revise Profit Outlook on Oil Plunge: El Confidencial
- RWE GY : RWE Said to Mull Raising Savings Target for Generation Unit: WSJ
- SBMO NA : SBM Offshore to Cut 600 Jobs, ‘Release’ 600 Contractor Staff
- SHP LN : Shire CEO Says ‘We Have the Money to Move’ on M&A
- GLE FP :Deutsche Bank Preferred to SocGen, Jefferies Says; Both PTs Cut
- TIT IM : Telefonica, Oi, Claro Said to Plan $15b Offer for Tim --> TSU US +5,72% {http://reut.rs/1ICkzJe}
- VOD LN : Vodafone Expects to Cut Jobs on Spain Ono Purchase, Pais Says