Dow+0.32% S&P+0.09% Nasdaq-0.12% Russell-0.41% VIX 24.30 (-10.03%)
US Market closed near flat line. Falling oil prices in the face of global growth concerns continued to weigh on the overall sentiment, short-circuiting a rebound attempt. Looking overseas, China's Shanghai Composite surrendered 5.3% despite reporting economic data that was largely in-line with analyst expectations. WTI crude had slipped 5.3% to end at $31.41/bbl. commodity-sensitive energy (-2.1%) and materials (-1.6%) claimed the bottom two rungs followed by health care (-1.2%), industrials (+0.1%) and financials (+0.4%). Looking at the flipside, consumer staples (+1.0%), consumer discretionary (+0.9%), telecom services (+0.8%), and technology (+0.6%) lead the pack. MCK fell 10.3% after the company narrowed its guidance for FY 2016, citing weaker pricing on generics in the second half of the fiscal year. Fellow drug wholesalers ABC and CAH also declined, falling 4.0% and 5.5%, respectively...IBB-3.5%...Volume were still High with more than 1bil shares. US After Hours : ELOS +9.7%, BURL +8.2%, LULU +8.0%, UCTT +6.3%, TACO +3.7%, SKUL -20.9% following earnings/guidance, APOL +19.3% (following report that Apollo Global Management (APO) nearing deal to buy Apollo Education). Asian equity markets are trading mixed amid continued volatility across asset classes. Nikkei225 is the underperformer with catchup selling after Monday holiday, while Shanghai is marginally higher after yesterday's steep decline. PBoC has set Yuan little changed again, strengthening the fix relative to the close for the 3rd straight session, but the impact of that move is now more muted. Instead, fixed income traders are increasingly focused on the Hibor rate set at a new record high yet again. Analysts contend that the PBoC is trying to disarm Yuan sellers by boosting the cost of borrowing to short the currency prohibitively expensive. The spread between onshore and offshore Yuan has since moved to flat, the narrowest since October. NDRC's Li Pumin remarked that China economy has tracked to meet 2015 GDP target of 7% and added about 13M new jobs. Alcoa kicked off the unofficial start of the US earnings season with Q4 results largely in line with expectations. For 2016 AA's initial forecast of aluminum demand growth was set at 6%, which was below the 6.5% target for 2015 affirmed in last quarter's earnings. Shares fell slightly in the extended session.
Nikkei -2.71% ( was closed yest) Hang Seng -0.82% Shanghai +0.23%
Eur$ 1.0882 CNY 6.5756 CNH 6.5851 JPY 117.37 GBP 1.4527 RUB$ 76.9260 WTI $30.57 (-2.64%)
S&P -0.35% EuroStoxx -0.26% Dax -0.18% SMI -0.09%
Macro :
- Third Avenue Sees Assets Fall 21% in Quarter as Investors Flee
- China Steps Up Yuan Defense as Soaring Offshore Rates Slam Bears
- China Forecasts Vehicle Sales to Accelerate After Tax Cut
- Alcoa’s Jekyll and Hyde Results Underscore Coming Aluminum Split
- Goldman Sachs Sees $64 Billion in Buybacks Rescuing Japan Stocks
Keep an eye on :
- ABI BB : Asahi Says It’s Considering Tie-Ups After Peroni, Grolsch Report
- AF FP : KLM, Etihad Benefit From Cooperation, KLM CEO Tells Telegraaf
- BAS GY : BASF Must Repay Belgium About EU200m in EU Tax Decision: Tijd
- BC IM : Cucinelli 2015 Net Rev. Rises 16%, Sees Double-Digit 2016 Growth
- BMPS IM : Monte Paschi Short Selling Banned Tuesday By Italy Mkt Regulator
- CAP FP : Cap Gemini to Record Estimated EU520M Non-Cash Income in 2015
- ALCLS FP : +6% in after hours in US, announced the publication of a study describing the design and development of a new CAR architecture with an integrated switch-on system that permits control over CAR T-cell functions
- CBK GY : Commerzbank to Shrink Financial Institutions Unit: Handelsblatt
- CON GY : Continental AG Says No Plan for Major Acquisition in 2016
- CNHI IM : Deere, CNH Lease Risk Seen ’Ever-Rising’: Barclays
- CSGN VX : Credit Suisse Downgraded by Moody’s, Outlook Is Stable
- DTE GY : German Telco Companies Pledge EU8b in 2016 Broadband Investments
- FAGR BB : Worldquant Expands Fagron Short Position to 1.71%
- MEO GY : Metro 1Q Sales In Line With Ests., Confirms FY Outlook
- NOVN VX : Novartis Could Spend Up to $5b on M&A, Sees Alcon Plan Jan. 27
- PAH3 GY : Porsche Expects Sales Growth to Slow After Macan Rollout
- SIKA VX : Sika Reports Accelerated 4Q Sales Growth of 8.3%
- UG FP : Peugeot Citroen 2015 Sales Rose 1.2% to 2.97 Mln Vehicles
- PFE US : Pfizer CEO Thinks Drug Pricing Is a ’Political Issue’
- RIO LN : Rio May Miss 2015 Shipping Target as BHP on Track for FY16: UBS
- SAP GY : SAP 4Q Non-IFRS Oper Profit EU2.28b, Est. EU2.26b
- SHA GY : Schaeffler Owner Says He’s Open to Additional Stock Sales
- SHP LN : Shire, Baxalta Merger Pact Has Termination Fee Up to $369.0m
- TEC FP : Technip Agrees to Buy Minority Stake in Vallourec’s Serimax
- TWX US : Icahn Says He Doesn’t Own Any Shares in Time Warner: CNBC
- VIV FP : Universal Said to Near Licensing Deal With SoundCloud: NYP
- VOW3 GY : Volkswagen’s Mueller Doesn’t See Selling Off Any Brands