Weekly Update
Dow +0.18% S&P +0.05% Nasdaq +0.23% Russell -0.12% Brazil +1.11% Nikkei +4.09% Hang Seng +2.80% CSI +2.78% Shanghai +2.49% Erostoxx+2.40% FTSE+1.80% CAC+2.03% Dax +3.34% Ibex+2.07% MIB +2.23% SMI +1.23%
The DJIA and the S&P500 both notched fresh all-time highs this week and the Nasdaq came very close to record levels as markets kept melting up in the August heat. Crude prices saw their second week of gains off the late July low, providing an assist to higher US equity valuations, while the dollar is gradually softening. Trading volumes were about 20% below average. In the US, decent retail sector earnings were seen, with the quarterly earnings season coming to a close. Economic data was less than stellar, with the July retail sales report flat after three months of solid gains. Both the July PPI report and the import prices data showed inflation losing steam again. The focus in both Japan and China was on the possibility of fresh central bank action to help prop up growth, while in the UK, the Bank of England had trouble finding enough bonds to purchase under its restarted QE program. For the week, the DJIA gained 0.2%, the S&P500 edged up less than 0.1% and the Nasdaq added 0.2%.
Macro :
- U.S. Declares Public Health Emergency in Puerto Rico on Zika
- Lyft Said to Rebuff Takeover Approach From GM: The Information
- Brazil’s Diniz Says Tax Raise Necessary to Fix Economy: Estado
- Encore of Low Volatility Betrays Yellen, Trump Risks: Analysis
- The Tokyo Whale’s Unstoppable Rise to Shareholder No. 1 in Japan
- Brexit May Be Delayed as U.K. Struggles to Set Up New Ministries
- Record hedge fund bets against sterling
Keep an eye on :
- AIR FP : SpaceX’s Falcon 9 Rocket Lifts Off Carrying JCSAT-16 Satellite
- AMZN US : Amazon July Comp Sales Up 6.4%, EBay Up 3.5%: ChannelAdvisor
- AAL LN : Anglo American Asked by Top Investor to Sell S.A. Ops: S. Times
- EZJ LN : takeover chatter about a PE interested
- ENGI FP : Engie Delays Restart of Tihange-1 Belgian Reactor to Aug. 14
- ETO LN : KKR Said to Consider Entertainment One Offer After ITV Rejection
- GOOGL US : Google Loses Bid to Dismiss Privacy Suit Over Gmail
- ILD FP : Inwit Interested in Managing Iliad Towers: Cicchetti to Il Sole
- INW IM : Inwit Interested in Managing Iliad Towers: Cicchetti to Il Sole
- LHA GY : Lufthansa, Pilot Union End Negotiations Without Accord
- MAERSK DC : Maersk to Unveil New Strategy at End of 3Q, Berlingske Reports
- MGGT LN : Elliott Management Contacting Other Meggitt Holders: Telegraph
- NESN VX : Nestle CEO Sees Strong Franc as Obstacle to New Swiss Plants: SZ
- PNL NA : Bpost no longer in talks with PostNL
- POP IM : Popolare Milano’s U.S. Investors Increase Stakes: Corriere
- RTN LN : New CEO could led a business through a takeover - Telegraph
- RTN LN : The Restaurant Group strategy review to recommend sale of 40 restaurants - The Times
- SGE LN : Sage Data Breach May Affect Information of 300 Users: FT (Yday)
- SKY LN : Sky Said Planning to Start ‘Now TV’ Service in Spain: Telegraph
- VOW3 GY : VW Probing Cars That Can Be Opened With Fake Remote: BBC (Yday)
- VOW3 GY : VW Gets Go-Ahead of German Transport Authority to Modify EA189
- WMH LN : Rank, 888 Said Weighing Improved William Hill Bid: Telegraph