Dow +0.70% S&P +0.52% Nasdaq +0.52% Russell +0.25%
US Market closed again higher. President Trump's upcoming tax-related announcement was yet again the driver of today's bullish sentiment. The top-weighted technology sector (+0.7%) finished just a step ahead of the benchmark index, thanks in large part to Apple's (AAPL 133.29, +1.17) strong performance. Apple+10% since reporting record revenues, earnings, and iPhone sales on January 31st. Energy (unch) was the worst performing cyclical space as crude oil broke its three session wining streak. The commodity finished lower by 1.7% at $52.95/bbl as an uptick in U.S. production overshadowed the release of an OPEC report, which showed high compliance with last year's agreed upon production cuts. only group to finish behind energy was the lightly-weighted telecom services sector (-1.3%) thanks to heavy losses from Verizon -0.9% AT&T -1.8%. Fed Chair Janet Yellen will be delivering her semiannual monetary policy report to the Senate Banking Committee today. US After hours Drybulk shipping names extending even higher in after hours trade... HIBB -15%, AMKR -10%, RNG -4%, BKD -3%, FLO -2% following earnings/guidance. "Re-flation Trump trade" sent US equities to record highs on Monday, but risk is on the back foot in the latter part of the Asia session. After days of DOJ investigations, National Security Advisor Michael Flynn has submitted his resignation after acknowledging he gave "incomplete information regarding phone calls with the Russian ambassador" about US sanctions prior to inauguration, potentially sending the US administration into damage control mode. White House press Sec Spicer will hold a press conference on Tuesday and may be faced with questions about the timing when the cabinet became aware of compromising intel on Flynn, particularly in light of Pres Trump stating Flynn had his confidence as recently as Monday. China released its January CPI and PPI numbers that topped expectations while hitting multi-year highs. Toshiba remains in focus on Japan. After confirming several recent press reports estimating rougly ¥700B charge related to Westinghouse writedown, the company has once again postponed its earnings release as it continues to work with its auditor on the review. A Nikkei report earlier today also noted the company may not be able to continue as a "going concern", potentially requiring bankruptcy proceedings and/or state bailout.
Nikkei -1.13% Hang Seng -0.09% CSI -0.01% Shanghai +0.03%
Eur$ 1.0610 CNY 6.8731 CNH 6.8626 GBP 1.2539 JPY 113.45
S&P -0.9% EuroStoxx -0.15% Dax -0.12% FTSE -0.23% SMI -0.15%
Macro :
- EU’s Vestager Says Commission is Advancing Three Google Cases
- Germany Said Moving Ahead With Defense Cooperation: Reuters
- Greece Said to Plan to Hire Rothschild to Advise on Its Debt: FT
- China Jan. Consumer Prices +2.5% Y/y; Est. +2.4%
Keep an eye on :
- ATLN VX : Actelion Full Year Profit Beats Estimates; No Cash Dividend
- AF FP : KLM Low-Cost Unit Transavia Stops Flying From Munich Hub
- GBF GY : Bilfinger FY Group Output Declined to EU4.2b From EU5b Y/y
- GBF GY : Bilfinger Sees 2017 Output Volume Decline, Margin Improvement
- EN FP : French Telco Operators Restart Consolidation Talks: L’Expansion
- CPR IM : Campari Buying Opportunity on Any Potential Weakness: Mediobanca
- CA FP : Carrefour Halts Vietnam Catfish Sales in Europe: Saigon Times
- CSGN VX : Credit Suisse 4Q Net Loss CHF2.35b; Est. Loss CHF2.07b
- DWNI GY : Deutsche Wohnen Rated New Buy at Commerzbank, PT EU35.10
- EDF FP : EDF Board Approves Launch of EU4b Capital Increase, Figaro Says
- EDF FP : EDF Targets Ebitda of at Least EU15.2b in 2018
- FCC SM : FCC to Sell Spain Concessions to Reduce Debt: Expansion
- G IM : Intesa Said to Sound Out Investors Ahead of Bid for Generali
- G IM : Generali Board to Meet Wed., May Discuss Stake in Intesa: Sole
- GSK LN : Glaxo’s ViiV Says 2-Drug HIV Regimen Comparable to 3-Drug Combo
- HEI GY : HeidelbergCement Prelim. 4Q Sales Up 25%, OIBD Rises 18%
- MAU FP : Maurel & Prom 2016 Revenue Climbs 15%; Oil Production Stabilizes
- NK FP : Imerys to Review Supply of Talc From Afghanistan, Pakistan
- ORA FP : French Telco Operators Restart Consolidation Talks: L’Expansion
- RAND NA : Randstad 4Q Revenue Beats Estimate; Sees Lower Profit Margin 1Q
- SCH GY : Schaeffler Open for Acquistions, CEO Rosenfeld Tells FAZ
- SFR FP : French Telco Operators Restart Consolidation Talks: L’Expansion
- TUI GY : TUI AG Reaches Pact W/ KKR to Sell Travelopia
- VOW3 GY : Volkswagen Annnounces Mobileye Accord in E-Mailed Statement