Dow+0,26% S&P+0,41% Nasdaq+0,75% Russell+0,56% VIX 14,69 (-4,24%)
US Market Closed higher, S&P settled a new record, Q4 GDP, Greece was not a focal point on Friday, but Eurogroup chief Jeroen Dijsselbloem did say he is "very pessimistic" that Monday's meeting can produce a concrete solution as Greece maintains high ambitions despite limited possibilities, Six of ten sectors finished in the green with cyclical groups setting the pace, which was the case throughout the week. The energy sector jumped 2.0% to extend its weekly advance to 2.6% thanks to a rally in crude oil. WTI crude advanced 2.9% to $52.67/bbl and held its ground through the release of the latest Baker Hughes U.S. rig count, which revealed a decline of 98 to 1358, representing the 10th consecutive weekly decline. Volume were below average like the all week...Japan economy resurfaced after two consecutive quarters of decline with a modest expansion, however its growth rate was well below expectations. Annualized GDP of 2.2% in Q4 was below 3.7% consensus, even as nominal (pre-inflation) growth was just below target at 1.1%. Exports bounced sharply by 2.7%, up from 1.5% in Q3, but consumption and private CapEx components weighed on recovery, rising just 0.3% (0.8%e) and 0.1% (1.0%e) respectively. Picking through the overall soft data, govt officials continued to cheerlead selectively. Econ Min Amari focused on rebounding Deflator component as indication of favorable conditions toward beating deflation, adding real wages and consumer sentiment have turned higher in the last month of the quarter. Cabinet Sec Suga noted prices are rising, but wages are not catching up...China's FX regulator SAFE warned continued volatility in capital movements could prompt the authorities to institute a short-term fix in the exchange rate, pointing to the most recent rise in outflows in 2014. Jan FDI spiked by 29%, well above the 10% increase in Dec, while MOFCOM spokesperson forecasted 2015 FDI growth to remain stable. MOFCOM's Shen added trade growth outlook is not optimistic, even though he still saw further exports growth. Separately, Chinese press reports cited NDRC official estimating China needs GDP of at least 6.5% for 2016-2020 period to meet medium term growth objectives, and a govt policy advisor anticipated further PBoC easing and tolerance toward CNY weakness to achieve an around 7% growth this year. Ukraine ceasefire is now over 24 hours old and appears to be "generally" holding. Transport hub of Debaltseve remains the key battleground, and here Ukraine military continues to come under shelling attacks from the pro-Russia rebels. Late on Sunday, leaders from Germany, France, Russia and Ukraine offered praise for upholding de-escalation, and looked forward to Tuesday's expected withdrawal of heavy weaponry.
Today President Day in the US
Nikkei +0.51% Hang Seng +0.26% Shanghai +0.57%
RUB $62.70 WTI $52.74 EURCHF 1.0605
EUR$ 1.1422 S&P -0.14% EuroStoxx -0.06% Dax -0.10% SMI+0.14%
Macro :
- Greece Won’t Discuss Continuing Existing Bailout Program: Govt
- EU Will Help Greece Fight Tax Evasion: Schulz Tells Parapolitika
- Varoufakis ‘Optimistic’ for Greek Eurogroup Deal: Kathimerini
- Rebels in East Ukraine Intensify Attacks Near Mariupol: Police
Keep an eye on :
- ATLN VX : Actelion Says FX May Reduce Core Earns Growth by 8 Ppts This Yr
- AFR LN : Afren could lose assets due to change of ownership clauses if it enters administration; Nigerian groups not interested in Nigerian and Kurdish assets
- AF FP : Air France Plane Lands Safely in Russia With Failed Engine: IFX
- BMPS IM : Profumo Still Sees Merger in Monte Paschi Future: Il Sole 24 Ore
- BP/ LN : BP considered vulnerable to ExxonMobi - FT
- BWO NO : BW Offshore 4Q Net Declines Q/Q; Declares 2c/Shr Dividend for 4Q
- CEZ PW : CEZ’s Benes Says Considering Bid for German, Slovak Plants: WSJ
- ACA FP : Credit Agricole to Appoint Philippe Brassac CEO: FT
- CSGN VX : Credit Suisse CEO Says CHF0.70 Div. ‘Realistic’ for Future: FuW
- CWI AV : Deutsche Wohnen May Plan Takeover Offer for Conwert: Reuters
- DBK GY : Deutsche Bank May Present Strategy in March, Handelsblatt Says
- GLPG NA : Galapagos Reports Positive Phase 1 Trial Results for GLPG1690
- HGG LN : 2015 Div. Forecast Cut by Henderson on Strong Dollar, Cheap Oil
- KER FP : Sergio Rossi may be for sale
- RIGN VX : Transocean CEO Steven Newman steps down, Chairman Ian Strachan appointed as interim CEO
- RR/ LN : Rolls-Royce Won’t Tolerate Improper Conduct Over Petrobras: FT
- SAB LN : SABMiller eyed for potential GBP 75bn takeover bid by 3G Capital, AB InBev could be part of 3G consortium
- SHP LN : Shire CEO Says “Nothing to Hide” on Tax: FT
- SIK VX : Sika gains support of shareholder group comprising former Sika directors and senior managers
- SUN SW : Sulzer May Have to Close Swiss Development Site or Cut Jobs: SZ
- TSCO LN : Tesco in Talks With Archie Norman Over Chairman Role, Sky Says
- TSCO LN : Tesco in Plan to Cut as Many as 10,000 Jobs, Telegraph Reports
- TIT IM : CDP, Telecom Italia Considering Share Swap After 2020: Sole
- VOW3 GY : VW Boosts China Production on Higher Demand: DPA
- 888 LN : 888 bid from William Hill unlikely to succeed - Sunday times