Dow -0.21% S&P -0.34% Nasdaq -0.32-% Russel -0.58%
US Market closed lower pushed by oil. Energy sector (-1.1%) closed at the bottom of the day's leaderboard as WTI crude suffered from a wave of selling pressure in response to an increase in production out of Saudi Arabia in the month of February. However, Saudi officials did make follow-up comments to the report, saying that the uptick in production went into domestic storage, not international markets. The claim helped the energy component regain some of its early loss in the afternoon session, but WTI crude still closed the day lower by 1.5% at $47.69/bbl. President Trump's proposed budget, which is expected to include $1 trillion for infrastructure spending, looms in Washington, industrials (-0.9%) and materials (-0.8%). Market was waiting for today's FOMC. US After Hours Rubicon Project (RUBI), NeoPhotonics (NPTN) slip in extended trading following light guidance. Asia indices are down marginally, tracking modest declines in US markers where volumes were extremely light due to massive snowstorms impacting travel in the Northeast. Airlines were the most heavily hit for the 2nd straight day, while auto components and textiles outperformed. Treasuries were slightly higher going into the FOMC and USD majors traded sideways, with tomorrow's anticipated 25bp rate hike priced in and uncertainty building for a more aggressive FOMC statement/dot plots on the heels of better economic data and more hawkish Fed-speak. China Premier Li spoke at length to mark the conclusion of the NPC summit, calling for better relations and more dialogue with US to avoid a trade war that would hurt both sides. Li added the 6.5% 2017 GDP target is ambitious considering external risks, but noted the govt will prioritize employment and avoid large-scale job cuts similar to industry capacity reduction measures late last year.
Nikkei -0.16% Hang Seng -0.09% CSI +0.15% Shanghai +0.02%
Eur$ 1.0628 CNH 6.8970 CNY 6.9130 JPY 114.70 GBP 1.222 CHF 1.0084 RUB 59.1380 WTI$ 48.49 +1.61%
S&P +0.15% EuroStoxx +0.18% FTSE +0.14% DAX +0.11% SMI +0.21%
Macro :
- Dollar Gains, Stocks Slip Before Fed as Oil Slumps: Markets Wrap
- Fed Interest-Rate Hike May End Up Helping Treasuries: Macro View
-
Keep an eye on ;
- ADP FP : ADP Paris Airports Passenger Traffic Rises 4.2% in February
- AED BB : Aedifica to Raise Up to EU219m in 1-for-4 Rights Offer at EU61
- ASC LN : ASOS Shares Hit 3-Year High as Largest Shareholder Raises Stake
- ATC NA : Paris Appeals Court Upholds AMF Decision on Altice-SFR: Agefi
- AMUN FP : Amundi Rights Offered at EU0.875-EU1.274 in Placement, Orders Below EU1.174 Risk Missing
- AMUN FP : Amundi Seen as MSCI, Stoxx 600 Candidate After Rights: SocGen
- AZM IM : Azimut Expects to Reach 2019 Profit Goal as CEO Mulls Purchases
- BAYN GY : Monsanto Can’t Say Roundup Doesn’t Cause Cancer: Lawsuit
- BOL FP : Bollore Plans Digital Activities Project on Ile Seguin: Echos
- CVRS US : Corindus Vascular Gains 48% Ahead of 4Q Earnings Tomorrow
- ENGI FP : Engie Buys EV-Box, Electric-Vehicle Charging Station Supplier
- EOAN GY : EON Proposes EU0.21 Div. for 2016; Sees ’17 Adj. Net EU1.2-1.45b
- EKT SM : Euskaltel in Talks With Zegona Over Telecable De Asturias
- EDL FP : Euro Disney Shareholder CIAM Critical of Disney Plan: Reuters
- ITX GY : Inditex FY Ebitda EU5.08B; Est. EU5.14B
- INGA NA : ING Names Koos Timmermans to Become CFO
- MUV2 GY : Munich Re Plans to Buy Back Another EU1 Bln of Its Own Shares
- PHIA NA : Corindus Vascular Gains 48% Ahead of 4Q Earnings Tomorrow
- PRS SM : Prisa Expects Binding Offers for Santillana in Next Few Weeks
- RNO FP : Diesel Gate for Renault could concern 900k cars - Liberation.fr
- SAF FP : Zodiac Profit to Fall 10% as Plane-Seat Crisis Flares Again
- SFER IM : Salvatore Ferragamo FY Net Income Misses Est.
- SHP LN : Shire Finds Rare-Disease Patients Wait 2 Years for Crucial Drugs
- SAZ GY : Stada receives fresh private equity bids of €3.7bn - FT
- SIX2 GY : Sixt Pretax Rises 18% as Expansion Progesses, Dividend Increases
- TSRO US : Tesaro Plunges as AstraZeneca Cancer Competitor Hits Goal
- TOD IM : Tod's FY Net Income Misses Est.
- TLW LN : Kenya, Tullow Sign Oil Production Agreement: Business Daily
- UCG IM : UniCredit CIB Service Fees ‘Mostly Flat,’ Khayat Tells BZ
- UNA NA : Unilever Considers Cash Return, Acquisitions, Cost Cuts: FT
- ZC FP : Zodiac Aerospace Cuts FY Profit Outlook, Now Sees Earnings Drop
- ZC FP : Zodiac Warning Is 25% Downgrade to 2017 Forecast, TCI Says