US MARKET: US Sales Trading – OFF HIGHS AND NOW EARNINGS THE DRIVER. CITI GROUP DOWN 3.4% and JPMORGAN DOWN 0.88% struggled after #s (C on call cautious re CCard biz - leaned on peers). Banks lagged on this. Telcos smoked after AT&T MINUS 6.1% (guided down). Media also hit hard after Guggenheim downgraded group. Retail hit on J. JILL warning (DOWN 51% !! ) and ULTA BEAUTY downgrade (fell -8.5% and weakest name on SPX). TelcoEquips hit behind JUNIPER NETWORKS down 5.2% after cut guidance. Autos hit on BORGWARNER downgrade and as GM shuts Detroit factory on weak demand. Casinos also weaker on MS cautious call. Winner was TRANSPORT INDEX as closed above 10k after JPM hiked target on Truckers. Also Industrials closed at record (AeroSpace, Machinery, etc). Lastly Steels held well on ALLEGHENY TECHNOLOGIES +1.1% guidance. Volumes came at 6.017b,n so down -1% vs 20day ave. TODAY BofA, Wells Fargo, PNC Fincl, JB Hunt all due to report. Next week 60 of SPX due to report. Also Retail sales due today. US After Hours HPQ +2% on Annual Meeting updates, EFX +1.2% refutes today's hacker related speculation, AAOI -21% following guidance and weighing on optical names. Asian equity markets opened mixed and the Nikkei 225 has outperformed. Nikkei 225 Oct options are said to have settled at ~20,957.
Nikkei +1.01% Hang Seng +0.02% CSI +0.13% Shanghai +0.06% Shenzen +0.41%
Eur$ 1.1844 CNH 6.57 CNY 6.5788 JPY 112.10 GBP 1.3275 CHF 0.9751 RUB 57.70 WTI$ 50.95
S&P +0.01% EuroStoxx +0.14% FTSE -0.15% Dax +0.04% SMI +0.07%
Macro :
- ECB Said to Mull Cutting QE Purchases in Half: Macro Squawk Wrap
- U.S. Is Said to Make Proposal That Could Kill Nafta After 5 Yrs
Keep an eye on :
- ABE SM : ACS Is Said Set to Start Offer for Abertis Next Week: Reuters
- AC FP : Airbnb Targets Business Travelers to France: Reuters
- BAS GY : BASF Agrees to Buy Parts of Bayer Crop Science Unit for EU5.9b
- BAYN GY : BASF Agrees to Buy Parts of Bayer Crop Science Unit for EU5.9b
- BMW GY : BMW Making Minis in China Would Have Marginal Impact, HSBC Says
- EDEN FP : Edenred Confirms FY Targets; 3Q Sales Rise 11.5% to EU310m
- EO FP : Faurecia 3Q Value-Added Sales Rise 7.3%; Co. Confirms FY Outlook
- GEN DC : Genmab CEO Says Firm Is Likely to Remain Independent: Borsen
- HPQ US : HP Inc. Sees FY18 Adj. EPS $1.74-$1.84 vs $1.76 Estimate
- EMG LN : Man Group AUM Rises to $103.5b; Sees ‘Decent’ Client Interest
- NOKIA FH : Nokia Said to Favor Multiple Buyers for Submarine-Cable Unit
- NDA SS : Nordea CEO Says Bank Takes Client Anger Seriously: Kauppalehti
- POST AV : Austrian Post Plans Financial Services From 2020: Die Press
- RIO LN : Rio Needs Record 4Q to Meet Iron Ore Shipment Target: Macquarie
- SHP LN : Shire’s New Formulation of Oncaspar Gets Positive CHMP Opinion
- TALK LN : TalkTalk Shareholder Selling 4.7% Stake, Terms Show
- TIT IM : Tel. Italia Says It Has Notified Govt Under Golden Power Decree
- TIT IM : Italy Gov May Weigh ‘Golden Power’ on Telecom Italia Today: Sole
- TSLA US : Tesla Recalling 11,000 Model X SUVs for Seat Issue: AP
- VOW3 GY : VW’s Mueller Says E-Cars Profitable Only in 5-7 Years: SZ