Dow-1.60% S&P-1.23% Nasdaq-0.39% Russell-1.1%
US Market Closed lower after Hong Kong reopened and closed lower by 3.9%, European financials concerns. WTI closed lower byy 5.1% to $26.14 per barrel. Yellen comments didn't help the sentiment, Fed Chair Yellen didn't provide any reprieve from the selling pressure during her testimony either. She did acknowledge that negative interest rates are still on the table as a potential tool for further policy accommodation, yet she also asserted that economic evidence to date is not enough to suggest a rate cut is the Fed's next move. Tech get a boost from CSCO +9.6% after earnings. Financials (-3%)was the worst performers, consumer staples (-0.8%), telecom services (-0.5%), energy sector (-0.4%) and consumer discretionary (-0.1%). Gold rise 4.4% to $1,247.30. Volume were above average with 1.32b. US After Hours GRPN +18.3%, VCRA +13.6%, COLM +8.4%, NUS -20%, SCSS -15.9%, ATVI -13.8%, ZG -10.8%, P -3.7%, FEYE -2.3% following earnings/guidance, JPM+2.7% on WSJ Article that Jamie Dimon purchased 500k Shares. Asian trading session has been as volatile as late afternoon in the US hours, where another day of extreme selling was thwarted by reports of UAE energy minister expressing the willingness for OPEC to capitulate on production cuts as all producers see prices "not appropriate", oil traded as high as $27.75 in electronic session, while closely watched USD/JPY spiked up to ¥113 handle on speculation of more intervention. Earlier today (early US hours), USD/JPY spiked up from 111 to 113 on unconfirmed dealer rumors that BOJ is checking rates for intervention. Today Fin Min officials refused to comment on those reports but most defended Japan's fundamentals and reiterated the blame for volatility with external factors.
Nikkei -4.84% Hang Seng -1.05% Shanghai Closed
Eur$1.1307 CNH 6.5413 CNY 6.5743 JPY 112.16 GBP 1.4472 CHF 0.9735 RUB$79.22 WTI$27.47 (+4.81%)
S&P+0.15% EurStoxx+0.45% Dax+0.65% SMI +0.27%
Macro :
- OPEC Ready to Cooperate on Cut, UAE Energy Minister Says: WSJ
- WTI Crude Drops to 12-Year Low, Settles at $26.21/Bbl
- Gundlach Says Negative Rates Harmful, Not Helpful: CNBC
Keep an eye on :
- AIR FP : Philippine Air May Announce Purchase of 6 Airbus A350: Inquirer
- AFX GY : Carl Zeiss Meditec 1Q Rev. Rises 9%; Confirms Margin Goal
- CO FP : Berli to Seek Shareholder Approval March 21 for Big C Purchase
- CBK GY : Commerzbank 4Q Net Income Beats; CET1 Ratio Rises to 12.0% Commerzbank Plans Div. 20c; Non-Core Loss Narrows
- ATLN VX : Actelion Uptravi Solves Class Dosing Stigma, May Boost Opsumit
- BKG LN : To be add to MSCI UK on the close of the 29th of Feb
- DAI GY : Daimler Said to Restructure Management Board: Handelsblatt
- DBK GY : Deutsche Bank Share Drop Not Subject of Bafin Probe: Reuters
- EDF FP : EDF Said to Plan Subcontracting for Hinkley Point C: The Times
- FB US : Facebook Says Testing SMS Access in Messenger: VentureBeat
- NK FP : Imerys 2015 Net EU68.4m Vs Yr Ago EU272m
- BAER VX : OCBC, Julius Baer Said to Bid for Barclays Asia Wealth: Reuters
- LHN VX : LafargeHolcim Investor Schmidheiny Not Cutting Stake: HZ
- OR FP : L’Oreal 2015 Op. Profit Matches Ests.; Seeks Earnings Growth, CEO Says Brexit Not a Big Issue for Cosmetics Maker, CEO Agon Says Co. Can Deliver in Any Environment: Figaro
- P US : Pandora Said to Explore Sale, Has Retained Morgan Stanley: NYT
- RI FP : Pernod Ricard could consider US acquisitions of up to EUR 1bn
- REC NO : REC Silicon 4Q Revenue Falls to $74.9m; EBITDA Loss $29.6m
- RNO FP : Renault 2015 Profit Beats Estimate, Forecasts Further Growth
- SAN SM : Funds Offer EU2.8B to Buy Santander Headquarters: Expansion
- SCHP VX : Schindler Sees 2016 Sales Growth as 2015 Hit by Strong Franc
- GLE FP : SocGen Expects Slowdown in Energy-Lending Origination: Valet
- GLE FP : SocGen’s Oudea Says There Is No New Banking Crisis: Figaro
- SSABA SS : SSAB 4Q Loss Wider Than Estimates; Within Co. Forecast Range
- TEMN SM : Temenos 4Q Non-IFRS Total Rev. Tops Estimates, Ebit In Line
- TKA GY : Thyssenkrupp 1Q Profit Falls 26%, Missing Estimates
- UBSG VX : UBS Wins Lawsuit Against Singapore Private Wealth Client Tan
- US IM : UnipolSai 2015 Net EU711.3m; Combined Ratio at 93.9%
- WBMD US : WebMD Rises; Betaville Says May Be in Talks w/ Walgreens
- WPG LN : To be add to MSCI UK on the close of the 29th of Feb