Dow+1.41% S&P+1.67% Nasdaq+1.97% Russell+1.53% VIX 23.96 (-5%)
US Market closed near the highs of the day. crude oil also built on its gain, ending its pit session higher by 2.6% at $31.22/bbl. JPM reported better numbers. JPMorgan addressed its first loan loss reserve build in six years, which was driven by downgrades, specifically in the company's oil and gas portfolio. The company went on to state that oil companies have been surprisingly resilient and that they expect to see a normal cycle increase as the economy looks "pretty good.". St. Louis Fed President James Bullard stated that the "very substantial" decline in energy pricing has implications for monetary policy, but Mr. Bullard still believes that four rate hikes this year "sounds about right." Interestingly, stocks surged immediately following the comments, all but ignoring his unchanged outlook for the fed funds rate path. energy sector (+4.5%) end in the lead while health care (+2.7%), technology (+2.0%), telecom services (+1.8%), and materials (+1.4%) followed. INTC +2.6% ahead of earnings. Volume were above average @ 1.2bil shares. US After Hours INTC -4.7%, THS -3.5%, ADI -2.5%, EDUC +2.2%. Asian equities used to follow the tone set on Wall St but have been transformed into the pace-setter in the early part of the year. Today's rally in US indices has indeed produced no carryover to Asian trading, and the turmoil in the far east is signalling a softer open. US equity futures are down nearly 1% while Shanghai Composite has erased most of yesterday's rally. Risk-off sentiment is boosting JPY, with USD/JPY falling 70pips from the highs to 117.60. Oil is down 2% and gold is rallying. In Japan, the yen currency printed the high for the day when BOJ Gov Kuroda suggested there was no plan to add to policy easing.
Nikkei -0.54% Hang Seng -1.42% Shanghai -3.55%
Eur$1.0872 CNH 6.6167 CNY 6.5870 JPY 117.75 GBP 1.4385 RUB$ 76.45 WTI $30.38 (-2.63%)
S&P -0.80% EuroStoxx -0.46% Dax -0.37% SMI -0.04%
Macro :
- Goldman In Settlement W/ RMBS Group; To Cut 4Q Earnings by $1.5b
- Swiss Currency Shock Reverberates One Year After Cap Abandoned
- Norway Declares Crisis in Oil Industry as Devaluation Continues
Keep an eye on :
- AB1 GY : Etihad Airways May Continue Codesharing Flights With Air Berlin
- AIR FP : Boeing Well Placed to Win at Least Part of United Order: Reuters
- STS IM : Ansaldo STS 2015 Rev EU1.38b, Up 6.2%; Net Income Up 15.3%
- BLT LN : BHP Expects $4.9b Impairment Charge on Onshore U.S. Assets
- CA FP : Carrefour 4Q Sales In Line With Ests., Confirms 2015 Profit View
- CO FP : Casino Guichard ‘Taking Steps’ to Sell Big C in Thailand
- CO FP : Wal-Mart Said to Have Closed About 60 Brazil Stores: Reuters
- CNA LN : Centrica Said to Prepare Bid for N. Irish Power Company Viridian
- DLG GY : Dialog Semiconductor Says It Won’t Revise Bid for Atmel
- EDP PL : EDP Renovaveis Awarded 93MW in Spanish Renewable Energy Auction
- ELUXB SS : Haier said to be nearing deal to purchase GE Appliances unit, paying about $4B - financial press
- EXPN LN : Experian 3Q Rev. at Actual FX Rates Down 3%, Sees FX Headwinds
- GAM SM : Gamesa Receives Orders in China to Supply 98MW in Two Projects
- HMB SS : H&M December Sales Beat Estimates
- LGEN LN : Legal & General to Sell Suffolk Life to Curtis Banks for GBP45m
- LUPE SS : Lundin Family Not Willing to Sell Lundin Petroleum Stake: DI
- MC FP : Louis Vuitton to Unveil New Watch Today in Geneva: Le Figaro
- RNO FP : Renault Probably Hasn’t Used Emissions Cheating Device: Analysts
- SZG GY : Salzgitter Sees Addtnl Tax Expenses on German Div. Income Ruling
- SAN SM : Santander Said to Ready Fresh Bid for RBS Branches: Sky
- SYNN VX : ChemChina Said to Move Step Closer to Potential Syngenta Deal
- TNET BB : Liberty Global Raises Telenet Holding to 57.22% of Voting Rights
- VIV FP : Vivendi Gets Net Proceeds of $1.1B Selling Activision Blizzard
- ZC FP : Zodiac Aerospace Sees Current Op Margin 2016/17 Up 2 Ppts Y/y