Dow +0.12% S&P +0.19% Nasdaq +0.03% Russell -0.28%
US Market closed higher by 0.2% recovering from -0.5% loss. The future path of interest rate normalization remained in focus as investors looked to substantiate yesterday's somewhat hawkish remarks from New York Fed President Dudley (an FOMC voter) and Atlanta Fed President Lockhart (not an FOMC voter). The two fed officials pushed forward rate hike expectations, signaling that at least one rate hike remains possible before the end of the year. The market shifted gears shortly after midday as reports indicated that German Chancellor Merkel signaled that there would be some scope for tax cuts in the Germany's next legislative session. That headline seemed to stoke some risk appetite as investors eyed potential fiscal stimulus measures, which have been lacking in the midst of very aggressive monetary policy accommodations. The Fed minutes for July also helped to brush away lingering rate hike angst indicating that the Federal Open Market Committee was split on whether or not an interest rate hike would be appropriate in the coming months. Seven sectors ended in the green with industrials (+0.3%), financials (+0.4%), and utilities (+1.4%) leading the advance. The heavily-weighted health care sector (+0.2%) performed in-line with the market, but got a boost from M&A speculation. Volume were in line with average at 765 mil shares. US After Hours NTAP +6%, LB +3%, SNPS +2% on earnings/guidance, CIE +12% following insider buy disclosure... BGG -14%, ARAY -11%, A -5% following earnings/guidance.
Macro :
- Bullard Still Sees 1 Hike Through ’18, Need for New Approach
- Fed Officials Split in July on Whether Rate-Hike Needed Soon
Keep an eye on :
- ANA SM : Acciona Awarded 506 GWh/Year Contract in Chilean Auction
- T US : AT&T Follows Rivals, Ends Fees on Wireless Users Topping Limits
- BAMNB NA : BAM 1H Net Rises, Rev. in Line; Sees 2016 Adj. Result Above 2015
- BOKA NA : Boskalis 1H Net, Ebitda Beat Ests.; Sees 2H Net Approaching 1H
- CSCO US : Cisco Will Cut Up to 5,500 Positions; 4Q Adj. EPS Beats
- SDF GY : K+S Expects First First Pre-Tax Loss of Millennium: FAZ
- KUD SW : Kudelski Raises 2016 Rev., Operating Income Outlook
- LSG NO : Leroy Seafood 2Q Revenue Beats Estimates; Net Income Misses
- MDLZ US : Mondelez to Invest >$100m in China Over 3 Yrs: China Daily
- MHG NO : Marine Harvest 2Q Net Misses on Financial Items; Div NOK3.20/Shr
- NESN VX : Nestle 1H Organic Sales Growth 3.5% vs Est. 3.7%, Keeps Outlook, Says Pricing to ‘Recover Somewhat’ in Coming Months
- NN NA : NN Group 2Q Operating Result Drops 34%, Interim Div. EU0.6/Share
- RBI AV : Raiffeisen 2Q Net Income Below Est.; Outlook Remains Unchanged
- SEM AV : Semperit 1H Rev. Dips, Margins Rise, Market Challenging in 2H
- SIX2 GY : Sixt 1H Revenue, Pretax Earnings Rise, Confirms FY Outlook
- STRA AV : Strabag CEO Sees 2016 Ebit EU390m-EU400m, WirtschaftsBlatt Says
- YHOO US : Hohn’s TCI Adding $2.4 Billion of Yahoo Tops Hedge Fund Buys
- VOW3 GY : Volkswagen Wolfsburg Plant Faces Shortened Work Shifts: Bild
- ZO1 GY : Zooplus Raises 2016 Sales Outlook, Keeps Pretax Forecast