Dow +0.07% S&P +0.10% Nasdaq +0.10% Russell -0.01%
US Market closed higher. With the third quarter earnings season nearly in the books, investors continued to chew on the prospect of tax reform. The House is expected to vote on its version of a tax reform bill this Thursday, but, even if the bill passes, the lower chamber still has some work to do in order to reconcile its version with the version that the Senate unveiled last week. utilities sector was the best-performing group on Monday, finishing with a gain of 1.2%, followed from a distance by the consumer staples (+0.6%), materials (+0.5%), and consumer discretionary (+0.3%) groups. In total, seven of the eleven sectors settled in positive territory. GE -7,2%, after the company cut its divided by half and dialed back its profit forecast for 2018. The dividend cut was expected by many and was deemed necessary by new CEO John Flannery in order to restructure the 125-year-old industrial giant. Following Monday's decline, GE shares are down 39.8% year to date. MAT+20.7% following weekend reports that rival Hasbr has made a bid to acquire the company; Hasbro shares also moved higher, adding 5.9%. US After Hours LUNA +15%, TEUM / MARK +11%, FENG +6%, SWCH -7%, following earnings/guidance, BWLD +28% on potential bid. Asian equity markets opened today’s trading session mixed. Australia’s equity market has declined by over 0.9%. In Japan, large bank Mizuho Financial has declined on the session, as the company reported better than expected Q2 results and affirmed its FY forecast. Later today, mega banks Mitsubishi UFJ and Sumitomo Mitsui are due to issue their financial reports. Hang Seng Financials index has traded little changed. China Oct M2 money supply and new yuan loans data, which were released on Monday, missed market expectations. Property shares in Hong Kong have traded generally lower. Sunac China has declined by more than 5%. In Oct, China’s Home Sales Value declined by over 3%, which was the largest y/y drop in over 2 years. Shares of Samsonite have traded higher by over 3% in Hong Kong following the company’s Q3 results and the overall Hang Seng Consumer Goods index has gained over 0.7%. China Retail Sales in Oct rose at the slowest pace since Jan, while Industrial Production growth slowed to 6.2% y/y (from 6.6% prior)
Nikkei Uncg Hang Seng -0.06% CSI -0.75% Shanghai -0.59% Shenzen -0.97%
Eur$ 1.1673 CNH 6.6484 CNY 6.6426 JPY 113.64 GBP 1.3101 CHF 0.9967 RUB 59.4819 WTI$ 56.52 -0.42%
S&P -0.10% EuroStoxx unchg FTSE +0.03% Dax -0.03% FTSE +0.03% SMI +0.04%
Macro :
- U.S. Oct. Budget Deficit at $63.2b; Est. $59b
- Goldman Says Volatility Implies S&P 500 Drop Over Next Two Weeks
- S&P 500 May Rise to 2,850 Next Year on Earnings: Deutsche Bank
Keep an eye on :
- ACS SM : ACS Nine Month Net Income EU603 Mln
- ADL GY : Adler Real Estate Nine Month Rental Income EU130.5 Mln
- ADL GY : Acquires 700 apartments under construction in Berlin for total of up to €120M
- AIR FP : Bombardier Is Said Near $1.1b C Series Deal With EgyptAir, Jet Airways Says Discussing Buying 75 More Boeing 737s: Reuters
- ALO FP : Alstom 1H Adjusted Ebit Climbs 16%; 1H Orders Fall 49%
- AMUN FP : Added to MSCI Woeld
- AMZN US : Amazon To Adapt ’Lord of the Rings’ Novels for Television
- AAL LN : Anglo American Blocked En+ Director Hire in Lead-Up to IPO: FT
- ATCOB SS : Atlas Copco Confirms Outlook at CMD in Stockholm
- BCP PL : BCP Nine Month Net Income EU133.3 Mln
- BBVA SM : BBVA, Cerberus Are Said to Advance Real Estate Talks: Expansion
- GBF GY : Bilfinger Raises 2017 Forecast for Organic Output Volume
- DRI GY : Drillisch AG Confirms 2017 Forecasts / Added to MSCI World
- HEI GY : HeidelbergCement sells half of its Georgian business
- HEN3 GY : Henkel Raises EPS Forecast as Profit Misses Estimates
- IFX GY : Infineon Fourth Quarter Total Segment Profit Meets Estimates
- ITP FP : Interparfums Sees 2018 Sales Rising 5%, With Stable Margins
- KGF LN : Kingfisher May Cut Hundreds of Jobs in France, Unions Say: AFP
- KN FP : Natixis Restates Quarterly Series to Reflect Reporting Changes
- PBR US : Petrobras Cuts 2017 Capex Est. to $16b From $17b: CFO
- RWE GY : RWE Trading Unit 9-Month Adj. Ebitda Swings to Profit
- SZG GY : Salzgitter’s Strip Steel Unit 9-Month Pretax Returns to Profit
- LNSX GY : Sixt Leasing Confirms FY Forecast, Says 9-Month Profit Fell
- TIT IM : Telecom Italia CEO Says No Finance Plan for Network: Sole
- TLX SM : KKR Exercises Call Option on 15.2% Stake in Telxius for EU484.5m
- TSCO LN : Man Group Reports New 8.45% Passive Stake in Tesco Corp.
- TRI FP : Trigano FY Net Jumps 42%; Co. Says Market Growth to Continue
- UTDI GY : United Internet Third Quarter Ebitda Beats Highest Estimate
- VIV FP : Vivendi Upgraded to Overweight at JPMorgan; PT 40 Euros
- VOW3 GY : Daniel Weissland to Head Volkswagen Group Canada