Dow-0.18% S&P-0,18% Nasdaq-0.13% Russell+0.13
US Market Closed lower as investors responded to a shift in rate hike expectations following the Federal Open Market Committee's policy statement for June, The June policy statement struck a dovish tone as the central bank voted to leave its key policy rate unchanged. Furthermore, the Fed lowered its projected path for the fed funds rate in 2017 (to 1.6% from 1.9%) and 2018 (to 2.4% from 3.0%). Overall, the uncertainty exhibited by the statement proved to be a negative for the market as stocks slumped into the close. six sectors finished in the red. In the back of the pack, utilities (-0.7%), health care (-0.7%), and energy (-0.3%) underperformed. On the flipside, materials (+0.4%), consumer discretionary (+0.3%), and financials (+0.1%) led. Volume where in l ine with average with 877mil shares. Asian equity markets have resumed their slide in spite of the somewhat more dovish FOMC policy statement with implications of lower interest rates in the near-to-medium term. Nikkei225 is particularly under heavy selling pressure after BOJ decision that did not delivery any new policy easing as had been expected by about a quarter of analysts surveyed. Losses in Tokyo are exacerbated by the cratering USD/JPY pair, which fell about 150pips in the wake of BOJ statement to 104.10. China Academy of Social Science (CASS) researcher remarked that China govt debt is controllable and not in crisis state, with a number of high-profile investors recently focusing on the rise in non-performing loans of mainland banks. China cabinet also announced it will accelerate reduction of overcapacity in non-ferrous sector and also control newly added production capacity.
Nikkei -2.93% Hang Seng -2.05% CSI -0.48% Shanghai -0.33%
Eur$ 1.1277 CNH 6.5888 CNY 6.5771 JPY 104.19 GBP 1.4165 CHF 0.9589 RUB 65.4870 WTI$ 47.56 (-0.94%)
S&P -0.42% EuroStoxx -1.55% Dax -1.67% SMI -1.42%
Macro :
- Yellen: Mkts Shouldn’t Be Surprised If Fed Hikes in Coming Mos.
- FOMC Skips June Rate Hike, Sees Pickup in U.S. Growth
Keep an eye on :
- ACS SM : ACS Sells Stakes in Brazil Power-Grid Cos. to Brookfield Funds
- AIR FP : Airbus Says China Airlines A350 Delivery Delayed Until Sept.: FT
- ALU FP : Nokia Plans Alcatel-Lucent Squeeze-Out
- ASML NA : ASML Holding to Buy Hermes Microvision for EUR2.75b in Cash
- ATC NA : Cablevision/Altice Deal Approved by New York State PSC
- DBK GY : Ex-Deutsche Bank’s Haeger to Run Oddo & Cie’s Wealth Management
- EDF FP : EDF, DIF Infrastructure Agree to Buy Thyssengas From Macquarie
- FEYE US : FireEye Said to Have Rebuffed Multiple Takeover Offers This Year
- ILD FP : Orange and Iliad to End French Mobile Roaming Agreement
- KU2 GY : Midea Offers EU115/Share for Kuka in Cash
- LHA GY : Lufthansa Seeks Outsider to Replace CFO Menne: Handelsblatt
- NOKIA FH : Nokia Plans Alcatel-Lucent Squeeze-Out
- ORA FP : Orange and Iliad to End French Mobile Roaming Agreement
- PNDL LN : Steinhoff Says Bought 22.78% of Poundland’s Issued Shares
- ROG VX : Roche’s Gazyvaro Combination Approved by European Commission
- SOI GY : Soitec Reports FY Current Op. Income EU22.4m vs Loss EU22.9m
- TOM2 NA : TomTom CEO Exercises Stock Options, AFM Regulatory Filing Shows
- FP FP : Total Said No Longer Seeking Sale of Texas Refinery Stake: Rtrs
- VOW3 GY : VW Wants to Be Nr.1 E-Mobility Solutions Company: Handelsblatt
- ZC FP : Zodiac Says It Hasn’t Received Any Offers for Its Shares