Dow-0.38% S&P-0.41% Nasdaq-0.34% Russell-0.37% VIX 24.25 (+4.44%)
US Market start this week on a lower note ahead of the lon awaited FED Meeting, volume were light at 800mil shares (below the 20d average of 984mil). Asian session was weak, after China and Japan both released disappointing industrial production report. Nine sectors registered losses while the utilities space (+0.3%) eked out a slim gain, which was aided by strength in Treasuries that sent the 10-yr yield lower by two basis points to 2.17%. energy (-0.8%) and materials (-1.3%) spent the day behind the remaining sectors, responding to general weakness in the commodity market. To that point, crude oil gave up 1.5%, sliding to $44.07/bbl while copper (-1.6% to $2.41/lb) and silver (-1.0% to $14.36/ozt) also posted losses. Gold was an outlier, climbing 0.4% to $1107.70/ozt. Solera (SLH 53.66, +4.21) spiked 8.5% after agreeing to be acquired by Vista Equity Partners for $55.85/share in cash, which translates to roughly $6.50 billion. US After Hours UNIS -3.0% following earnings/guidance, GTN +10.7% (acquired all of the television and radio stations of Schurz Communications for ~$442.5 mln; expects that the Schurz transaction will be immediately accretive to Gray's free cash flow)...After a near 3% drop yesterday, Shanghai Composite has entered midday break down another 2.5%, Nikkei225 has pared its earlier gains tracking JPY strength after the BOJ statement...Bank of Japan maintained its annual monetary expansion target at ¥80T as widely expected, but also cut its assessment on both Exports (as speculated) and Industrial Production to "more or less flat due to effects of slowdown in emerging economies"...In China, the PBoC reduced its open market operations to CNY50B from CN150B prior - the smallest injection in just over a month. China Banking Association (CBA) official said financial risks are manageable and overall asset quality is stable, also acknowledging the rise in non-performing loans as inevitable as a result of aggressive credit expansion since the GFC. China's National Energy Administration (NEA) also put out its data for power consumption in August, rising 1.9%
Nikkei +0.81% Hang Seng -0.30% Shanghai -2.47%
Eur$1.1322 CNY 6.3685 JPY 119.83 GBP 1.5429 EURCHF 1.0952 RUB$67.65 WTI $44.17 (+0.39%)
S&P -0.03% EuroStoxx -0.03% Dax +0.06% SMI +0.08%
Macro :
- ECB Is Too Pessimistic on Greek Bank Review, Wilbur Ross Says
- Get Used to Volatility, Says Hedge Fund That Called August Rout
- BOJ Forgoes Additional Easing, Bets Economy Will Turn Around
- Japan Mobile Carriers Drop $21 Billion on Abe Rate-Cut Call (1)
Keep an eye on :
- AC FP : AccorHotels to Sign Two Contracts in Iran, Les Echos Says
- AIR FP : Airbus’s Bregier Sees 2015 Decision Likely on Production Rates
- ALT NA : FT Article on tougher regulation for mobile operqtor merger in europe --> -ve as merger will be more difficult
- BMW GY : BMW Sees China Market Mainly ‘Flat’ This Year, Sales Chief Says
- CON GY : Continental CEO Ready to Work With Apple on Electric Car: FAZ
- EDP PL : EDP Renovaveis Suspends Plans for Possible YieldCo Listing
- EOAN GY : Utilities Lack as Much as EU30b for Nuclear Provisions: Spiegel
- CSGN VX : Credit Suisse Said Near $80m Settlement Over Dark Pool
- DAI GY : Daimler CEO Sees Co.’s China Growth Momentum Lasting Through ’16
- LHN FP : LafargeHolcim Offers 9.45 LafargeHolcim Shrs for 10 Lafarge Shrs ,Lafarge Squeeze-Out Implementation Seen Oct. 23
- RWE GY : Utilities Lack as Much as EU30b for Nuclear Provisions: Spiegel
- TOM2 NA : TomTom Says Automotive Bookings Exceed EU250m Year-to-Date
- VRAP FP : Vranken-Pommery 1H Net Loss EU4.8m Vs Net Loss EU6.1m Resta
- VOW3 GY : VW Trucks Chief Says Improvement in Brazil Unlikely Next Year