Dow+0.05% S&P-0.02% Nasdaq-0.49% Russell-0.58% VIX 14.41
US Market closed near the flat line after a weak start, rebound was fueled a rebound in oil, vacillating price action in the dollar, a healthy dose of Fed speak, Seven sectors finished in the green with telecom services (+0.7%), materials (+0.5%), and consumer staples (+0.5%) leading the pack. Conversely, health care (-0.6%), technology (-0.4%) and consumer discretionary (-0.3%) finished with the only losses. Volume were above average at 923mil shares. US After Hours SHAK +6%, PBR +1%, DDS-6% following earnings/guidance; TTPH -24% following guidance from FDA. Asian equity markets are tracking the losses on Wall St, where less dovish Fed-speak from Rosengren and Mester underscored the notion that markets are underpricing expectations of further FOMC tightening this year. USD rallied and commodities fell on those remarks. Rosengren endorsed more hikes, stating that early Q2 data is consistent with inflation closer to 2% target. Mester also noted that inflation is rising toward desired levels. BOJ Gov Kuroda delivered a speech for Research Institute of Japan, defending negative rate policy, calling for more time to allow easing to work itself through the economy, but also reiterating the door remains open to more measures. Kuroda did note that risks to the outlook are tilted to the downside and export recovery has paused, but also pointed to 3rd straight year of higher wages, momentum of non-manufacturing, and expectations of improving domestic demand.
Nikkei -1.4% Hang Seng -1.10% CSI -0.19% Shanghai -0.08%
Eur$ 1.1375 CNH 6.5455 CNY 6.5206 JPY 108.78 GBP 1.4439 CHF 0.9715 RUB 64.9396 WTI 46.38 (-0.69%)
S&P -0.32% EuroStoxx -0.50% Dax -0.52% SMI -0.20%
Macro :
- Two Fed Officials Make Their Cases for Interest-Rate Increase
- BOJ will act decisively using its 'ample' tools: Kuroda http://reut.rs/2236nS2
- Gundlach Sees 50% Odds of Fed Move as Treasury Volatility Falls
- Treasurers Worry Draghi’s Bazooka May Chase Away Their Investors
- Auto Sector : EU28 April Car Registrations Rise 9.1% Y/y to 1.274m Units
Keep an eye on :
- ABG SM : Abengoa 1Q Ebitda Drops 85% to EU48M as Activity Slows
- ABI BB : AB InBev, AmBev Agree to Exchange Some LatAm Businesses
- ACS SM : ACS 1Q Net Rises 6.3% to EU220M; Ebitda Falls to EU597M
- ATC NA : Altice to Deliver Commitments in Countries it Operates: Combes
- ATCOA SS : Atlas Copco Sees Mining Margin Improvement by End Year: Barclays
- AAPL US : Apple Backs Didi With $1 Billion in Blow to Uber in China
- POST AV : Austrian Post 1Q Rev, Profit Fall; Sees EU2b FY Rev, Stable Ebit
- B5A GY : Bauer 1Q Ebit Rises, Confirms Full Year Forecast From April
- BC8 GY : Bechtle 1Q Sales Rise 13%, Profit Up 22%; Confirms Outlook
- BMW GY : Brilliance-3.5% in HK
- BOL FP : Bollore 1Q Reported Revenue Rose 9% to EU2.41B
- EN FP : Bouygues 1Q Rev. Matches Ests.; Confirms Full-Year Outlook
- BVI FP : Bureau Veritas 1Q Rev. Falls to EU1.06b, FY Outlook Unchanged
- DBK GY : Deutsche Bank to Cut 30,000 Investment Banking Clients: FAZ
- DWNI GY : Deutsche Wohnen 1Q FFO I Improved by 25% to EU0.30/Shr
- EDF FP : EDF: Cost of Hinkley Point Project Won’t Exceed GBP18b
- EDF FP : EDF Credit Rating Cut to A2 From A1 by Moody’; Outlook Negative
- ENI IM : Eni CEO Sees Balance Between Oil Supply and Demand by Yr End
- RF FP : Eurazeo in 1-For-20 Reverse Stock Split
- ENX FP : Euronext in Talks to Acquire 20% of Euroccp for EU14m, Targets Ebitda Margin to Reach 61%-63% by 2019
- ETL FP : Eutelesat Cuts FY Sales Growth Guidance, Plans Strategic Review
- SFER IM : Ferragamo 1Q Ebitda Beats Ests., Names Eraldo Poletto CEO
- FIA1S FH : Finnair should be prepared for M&A; state not to reduce its ownership
- FUM1V FH : Fortum Interested in Buying Ekokem, Kauppalehti Reports
- GFK GY : GfK 1Q Net More Than Doubles; Sees Modest Organic Growth in 2016
- GLEN LN : Glencore, Vitol Near Deal to Buy Iranian Crude: WSJ -- > -3.4% in HK
- PARRO FP : Parrot Reports 1Q Net Loss EU39.1m After Reorganizing for Drones, Resuming Share Buy Back
- P IM : Pirelli Posts 1Q Sales of EU1.4b, Oper Profit of EU215.5m
- PFD LN : FCA Said to Probe Premier Foods Share Price Fluctuation: Sky
- RNO FP : Nissan +4.8% Mitsubishi -4.7%
- RWE GY : RWE Plans to Cut 700 Jobs at Dortmund Subsidiary Westnetz: WAZ
- SAZ GY : Salzgitter Confirms FY Forecast, 1Q Pretax Falls Y/y
- SAN FP : Sanofi Files for HSR Notification Regarding Medivation Deal
- SHA GY : Schaeffler 1Q Net Income EU253m, Up 52% Y/y
- SHP LN : Shire Drops as Funds Sell Baxalta for Baxter Exchange Offer
- SIX2 GY : Sixt 1Q Sales Rise 16%; Pretax Gains 11%; Net Income Drops 16%
- SOI FP : Soitec Starts EU75m Rights Offer
- SON PL : Sonae Buys 50% Stake in Portuguese Clothing Company Salsa
- TLX GY : Talanx 1Q Premiums Decline on FX, Confirms FY Forecast
- TEVA IT : MSCI Says It May Use Teva ADRs If Tel Aviv Volumes Don’t Recover
- TOM2 NA : TomTom CEO Reports Increase in Company Shares Options: Filing
- UBI FP : Total U.S. Video Game Sales, Software Drop Y/y in April: NPD
- UCG IM : UniCredit Capital Target Looking a Bit Less Safe, Barclay Says
- UNI IM : Unipol Targets 2016-2018 Consolidated Net EU1.5b-EU1.7b
- US IM : UnipolSai Sees 2016-2018 Total Consol Net Profits EU1.4b–EU1.6b
- DFG FP : Lyon and Nice airports receive four and three indicative offers respectively
- VIV FP : Canal+ Gets EU97m/Year French Rugby Contract, Les Echos Says
- VIV FP : Total U.S. Video Game Sales, Software Drop Y/y in April: NPD
- VOLVB SS : Volvo CEO Sees ‘Good Opportunities’ in China in Long Term: DI
- YOOX IM : Yoox Net-A-Porter 1Q Rev. Up 14.5% Constant FX