Dow -0.61% S&P-0.92% Nasdaq-1.48% Russell-1.90%
US Market closed lower for the 5th time in a row, SNB had a big impact abandoning the EurChf 1.20 floor and lowering bench. deposit rate to -0.75%, move was taken in anticipation of QE announcement from ECB, morning strength faded alongside crude oil, which slid from a session high at $51.00/bbl to $46.57/bbl. The energy component ended the day lower by 4.1%, but that masked the fact that crude fell almost 9.0% from its best level of the day. Furthermore, that pullback was closely correlated with a broad-market slide, which was paced by cyclical sectors. Financials and tech pressure kept mkt on their lows..On the upside, consumer staples (+0.2%) and utilities (+0.7%) posted gains while another countercyclical sector—health care (-1.1%)—was pressured. Volume were ahead @ 850mil shares...US after Hours OZRK +1.4%, RNDY +1.0%, BJRI -5.6%, TESS -3.0%, INTC-2.4%, SAVE -1.9% following earnings/guidance...Intel was down 2.5% afterhours despite beating on earnings and reporting revenues in line with consensus, as the company lowered its CapEx projections by 5% in FY15. In a conference call, the CFO said global PC supply chain appears to be healthy, though no emerging market PC recovery was likely....Nikkei225 was under the most extreme pressure, falling as much as 3% to 2 1/2 month lows in the morning session, as investors fled the yen-funded carry trades in favor of Treasuries. USD/JPY hit 1-month lows below ¥116, while EUR/JPY fell to 3-month lows below ¥134.80. In other USD majors, EUR/USD consolidated overnight losses in a 40pip range above $1.16, and USD/CHF regained CHF0.87 level late in the day after falling below CHF0.8450...Shanghai Composite is a standout among regional indices, helped in part by PBoC announcing a CNY50B provision to support agriculture industry and small companies. Ahead of March announcement of 2015 GDP targets, China Vice Fin Min Zhu Guangyao said the govt would focus on maintaining growth in proper range, calling for timely promotion of economic reform.
Nikkei -1.43% Hang Seng -0.74% Shanghai+1.10%
RUB $65.04 RUB €75.67 WTI $46.56 (+0.67%) Brent $48.49
Eur$ 1.1639 S&P -0.40% EuroStoxx -0.51% Dax-0.33% SMI -2.18% EURCHF 1.019 CHF 0.8755
Macro :
- ECB’s Costa Sees European Bank Mergers, Formation of Local Banks
- Fed Rate Increase a Chance to ‘Load Up’ on Equities: Allianz
- ECB May Give Approval to Monte Paschi Cap Plan Mid-Feb.: Sole
- Switch out of Swiss Stocks Into Euro-Area Shares, Barclays Says
- Swiss Franc Move Benefits Safe-Haven Currency Like Yuan: Aviate
- ECB’s Coeure Details Plan to Revive Euro Area Growth: Liberation
Keep an eye on :
- ABG/P SM : Abengoa Prices 9.2m Shrs at $31 Each in Abengoa Yield
- AF FP : Citigroup to Sell 2.2% of Amadeus for Air France Finance
- AF FP : Transavia France Targets 4M Passengers in 2015, Parisien Says
- ALU FP : Alcatel-Lucent Shanghai Bell HR Director Missing
- AMS SM : Citigroup to Sell 2.2% of Amadeus for Air France Finance
- BP/ LN : BP Says Statutory Factors Favor Lower End of Penalty Range
- CA FP : Carrefour 4Q Sales In Line, Confirms 2014 Profit Outlook
- CABK SM : CaixaBank to Cut 1,120 Staff After Barclays Purchase: Expansion
- CU FP : Club Med Board Recommends Fosun Offer to Shareholders: Reuters
- PTC PL : Portugal Telecom Says Rejecting Sale Would Hurt Value
- ROG VX : Roche Buys Trophos to Expand Neuromuscular Disease Portfolio
- ROG VX : Chugai Pharma Falls; Strong Swiss Franc Negative
- GLE FP : SocGen Drops Credit Du Nord IT Integration Plan, Echos Says
- UBSN VX : UBS Private Wealth Sees Demand for USD After Swiss Franc Shock
- ZC FP : Zodiac Seat Recovery Plan to Take Longer Than Expected: Echos