Dow +0.09% S&P +0.11% Nasdaq -0.15% Russell -0.03% VIX 15.91 (+3.58%) VXX 34.37 (+0,26%)
US Market closed on a flat note on this Yom Kippour Day, even the FED Minutes didn't get any motivation in this market. The minutes from the FOMC's September policy meeting indicated that there were a number of arguments for raising rates in September, but that the committee opted to wait for further data. All in all, there wasn't really any "new" news in the minutes, which essentially reinforced preconceived policy notions held by the market ahead of their release. According to the CME's Fed Watch Tool, the probability of a rate hike at the November meeting is just 9.3% while the probability of a hike at the December meeting sits at 69.9%. All yield plays sector Outperformed today, real estate (+1.3%), utilities (+1.0%), telecom services (+0.6%), and consumer staples (+0.5%). Eight sectors finished in positive territory while three -- health care (-0.6%), energy (-0.4%), and materials (-0.2%) -- ended the day with a loss. energy sector (-0.4%) underperformed amid a 1.1% decline in crude oil futures ($50.15/bbl, -$0.56). Volume were light today on Observance of Yom Kippour with only 655mil shares traded. US After Hours CSX +2.3% on earnings and modestly boosting rail names, WFC +1.7% on Chairman/CEO John Stumpf retirement news... FLDM -18.4% on dismal Q3 sales/suspending 2016 guidance. In Asia, Yen spikes, equities slide on soft China trade data. China trade surplus slows to 6-month lows in both USD and Yuan terms; USD-denominated exports fall -10.0% v -3.3%e, biggest decline in 7 months; Imports fall -1.9% v +0.6%e; Disappointing data sparks selloff in Hong Kong equities as Hang Seng index falls to a 2-month low below 23,200. BOJ speculated to downgrade its FY17/18 CPI forecast to low-1% range from 1.7% when it announces its latest GDP and inflation forecasts on Nov 1st.
Nikkei -0.36% Hang Seng -1.27% CSI -0.03% Shanghai +0.01%
Eur$ 1.1017 CNH 6.7381 CNY 6.7269 JPY 103.78 GBP 1.2180 RUB 63.1563 CHF 0.9885 WTI$ 49.79 -0.78%
S&P -0.68% EuroStoxx -0.57% FTSE -0.32% DAX -0.62% SMI -0.4%
Macro :
- Mifid II Overhaul Will Turn World Upside-Down: T. Rowe’s Brooks
- France PM Valls Says ‘The European Project Is in Trouble’ in FT
- Fed: Several Officials Saw Hike As Appropriate ‘Relatively Soon’
- London Home Presales Slump 14% as Brexit Compounds Tax Woes
- China’s Sept. Exports Fall 5.6% Y/y in Yuan; Est. +2.5%
- Libya Wealth Fund Wants More Board Seats in Italy: Corriere
Keep an eye on :
- AIR FP : Embraer Sees $80b Small-Jet Market Demand in Europe and CIS
- AMZN US : Amazon Germany Head Says Considering Storefronts: Handelsblatt
- ARAMCO IPO : Aramco Still Considering N.Y. IPO Listing, CEO Tells Turkish TV
- BP IM : Banco Popolare Extends Winning Streak as Merger Vote Approaches
- BAYN GY : Bayer Closes Syndication of $57b Acquisition Facilities
- CO FP : Casino 3Q Sales Beat Ests., Confirms 2016 French Targets
- DL NA : Dutch Court Rejects Delta Lloyd Probe Request by Highfields
- DB1 GY : Deutsche Boerse, LSE May Have to Sell Assets for EU Nod: WiWo
- DNB NO : DNB Won’t Rule Out Converting Offshore Vessel Debt to Equity: FA
- EOAN GY : EON Said to Explore Spinoff, IPO Options for Power Grids: WiWo
- ERICB SS : Investor AB Chairman Unhappy With Ericsson Development: DN
- GATE SW : *GATEGROUP ACQUIRER HNA SEEKS DELISTING, FURTHER SHARE PURCHASES
- IAG LN : British Airways CEO Still Sees 2016 Oper. Profit to Rise vs 2015
- INGA NA : ING Groep to Transfer Brussels Trading Desk to London: De Tijd
- MB IM : Mediobanca to Present New 3-Yr Strategic Plan November 17
- MS IM : Mediaset Said to Ask Milan Court to Freeze Vivendi Stake
- MERY FP : Mercialys Raises 2016 FFO Growth Target to 3%-4% Range From 2%
- PSM GY : ProSiebenSat.1 Raises 2016, 2018 Sales Targets
- PUB FP : Publicis Studies Levy Succession Options, Les Echos Says
- RDUS US : Press speculation about potential Shire interest - FT
- RIO LN : BHP, Rio Cut to Sell as Prices for Bulk Commodity to Fall: Citi
- SAS SS : Sweden, Norway to Boost Sale of SAS Shares to 23m From 19m
- SHP LN : FT pseculating about potential interest for Radius Health
- SNAP IPO : Snapchat Said to Pick Morgan Stanley, Goldman Sachs to Lead IPO
- SZU GY : Suedzucker Still Sees Fy Op. Profit of EU340m-EU390m
- TIF US : Tiffany Oct Puts Active in Spread Trade Amid LVMH Read Through
- TOM2 NA : TomTom Cuts 2016 Rev. Outlook, Cites Weak Consumer PND Markets
- UCG IM : UniCredit Raising $606m in Sale of FinecoBank Stake
- DG FP : Vinci Rated New Outperform at Credit Suisse, Eiffage New Neutral
- VIV FP : Mediaset Said to Ask Milan Court to Freeze Vivendi Stake
- VOW3 GY : Volkswagen Said to Disclose ‘More Realistic’ CO2 Emissions: SZ