Dow+0.64% S&P+0.47% Nasdaq+0.46% Russell+0.48%
US MArket closed higher, with all 3 index setting new records. crude oil rallied 4.2% ($43.50/bbl; +$1.74) on the news, likely benefiting from a fair amount of short covering. S&P 500 (+0.5%) found resistance near the 2186/2187 price level in the final hour. Nine sectors finished in the green with industrials (+0.6%), health care (+0.6%), consumer discretionary (+1.0%), and energy (+1.3%) leading. Retail names outperformed in the consumer discretionary space (+1.0%) as the group moved higher in sympathy with Kohl's (KSS 44.19, +6.15) and Macy's (M 39.81, +5.81). participation was below the recent average as fewer than 761 million shares. US After Hours ACIA +21%, RUN +15%, JWN +11% on earnings/guidance, SGI +29% on acquisition news... VJET -16.4% and RT -6% following earnings/guidance. Asian equities trading positive following US markets. China July data was the main event risk for the session, with industrial production and retail sales both a bit weaker than expected, raising the question, will China need QE to meet GDP target of >6.5%? China Stats Bureau (NBS) spokesman Sheng noted that the economy is structurally slow but trending stable, affirming that China will expand overall demand, but new growth drivers are not ready to replace traditional ones. Sheng went on to say July surveyed unemployment remains ~5.0%, with employment in the northeast being even higher. PBoC research director Yao Yudong, expects that the yuan will now appreciate over a longer term. He notes the current situation of excess liquidity will eventually give way to a long period of declining global liquidity as the Fed normalizes rates and other central banks exit their ultra-loose monetary policies.
Nikkei +1.09% Hang Seng +0.92% CSI +0.93% Hang Seng +0.94%
Eur$ 1.1143 CNH 6.6535 CNY 6.6451 GBP 1.2962 CHF 0.9747 RUB$ 64.2634 WTI$ 43.95 (+1.06%)
S&P -0.02% EuroStoxx +0.10% Dax +0.03% SMI +0.14%
Macro :
- US Banks Said to Ask Fed for 5 Yrs to Comply With Volcker: Rtrs
- VIX May Drop Below 11 in ‘Field of Dreams’ Mkt in Aug.: Mischler
Keep an eye on :
- ADS GY : Adidas’s Reebok Files Complaint to Block Copycat Sneakers
- B5A GY : Bauer 1H Rev. Drops, After Tax Loss Widens, Confirms FY Forecast
- AFX GY : Carl Zeiss Confirms FY Annual Revenue Forecast Range
- DK US : Delek Jumps 12.8% Post-Mkt; CVR Preparing Offer, N.Y. Post Says
- DBK GY : Buy Deutsche Bank Puts vs CDS on Volatility Dislocation: SocGen
- GFK GY : GFK 2Q Sales Fall, Says Market Conditions Remain Challenging
- GLEN LN : Glencore Said Shelving Plan to Sell Chile Copper Mine: Reuters
- SKBN NO : Skandiabanken 2Q Net Jumps After Visa Sale; NII Increases
- STL NO : Statoil Says Need New Areas to Boost Norway Devpt Post 2025: DN
- TALK LN : Vodafone Said Not to Be Interested in TalkTalk: Telegraph
- TRE SM : Tecnicas Reunidas Awarded Construction of U.K.’s Tees Rep Plant