Dow +0.27% S&P +0.37% Nasdaq +0.73% Russell +0.38%
Investors 'bought the dip' on Thursday as the major averages enjoyed a bounce-back performance following the stock market's worst one-day decline in eight months the day before. A solid performance from the semiconductor and biotechnology industries helped the market. The iShares MSCI Brazil Capped ETF (EWZ 32.75, -6.39) plunged 16.3% while theiShares MSCI Emerging Markets ETF (EEM 40.29, -0.68) lost 1.7%. However, the endless squabble in Washington kept a lid on the day's bullish sentiment. The real concern for investors isn't so much the headlines themselves, rather, it's the notion that President Trump's pro-growth agenda items (i.e. tax reform, deregulation, and infrastructure spending) might not come to fruition as quickly as envisioned (i.e. before the end of the year) or perhaps at all. WMT +3.2% after better earnings CSCO -7.2% after disap. rev. In the end, nine of eleven sectors finished in positive territory with nearly all groups posting gains between 0.1% and 0.6%. The energy sector (-0.1%) settled at the bottom of the leaderboard, despite crude oil climbing 0.7% to $49.26/bbl, while the lightly-weighted telecom services group (+1.2%) finished at the top. US After Hours SPWH / ADSK +10%, MCK +8%, ROST / GPS +4% following earnings/guidance, Brazil ADRs rebounding. Asian indices are mixed, tracking a day of stabilization on Wall St where equities recovered, treasury yields found support, Gold returned below $1,250, and Fed Funds futures outlook for June hike was back above 70%. Investors noted a big beat in the Philly Fed index and a slide in weekly jobless claims as evidence the political turmoil may not overshadow economic recovery that follows a soft Q1. Among notable corporates, Takata was limit-up after reports of a settlement with top automakers. Toshiba also traded higher as Broadcom/KKR and Bain/Hynix partnerships battled out for the chip stake
Nikkei +0.23% Hang Seng +0.26% CSI -0.02% Shanghai -0.08%
Eur$ 1.1112 CNH 6.8872 CNY 6.8932 JPY 111.40 GBP 1.2952 CHF 0.9804 RUB 57.3866 WTI$ 49.79 +0.89%
S&P +0.03% EuroStoxx +0.22% Dax +0.20% FTSE +0.45% SMI +0.22%
Macro :
- Kushner Asked Lockheed to Cut Radar Price for Saudi Deal: NYT
- SALT Day 2 WRAP: Chanos Short Mallinckrodt, Karp Likes Sarepta
- What’s Next as The President Refuses to Step Down: Inside Brazil
- S&P 500 Technicals Still Point to New Highs Ahead: JPMorgan
- German GDP Growth Seen Steady at 0.6% in 2Q: IWH for WiWo
Keep an eye on :
- AC FP : AccorHotels Board Approves Separation of HotelInvest
- AIR FP : GKN Workers at Airbus A350, A400M Plant Vote to Strike Over Pay
- AREVA FP : Areva Plans Capital Increases Reserved for French State in 3Q
- ASTON IPO : Aston Martin Said to Consider London IPO as Soon as Next Year
- BMW GY : BMW Opens EU1b China Plant Expansion, Flags Future Investment
- BOI FP : Boiron Says Class Action Suit in Canada to Continue on Merits
- CLX SS : CLX Sets New Financial Targets, Wants to Reinvest Earnings
- BN FP : Danone Targets Recurring Op. Margin >16% in 2020
- DBK GY : Deutsche Bank AGM Rejects Call for Audit on Chairman Achleitner
- DTE GY : T-Mobile Deal Options Include Sprint, Amazon, Says DealReporter
- DUFN VX : Richemont Acquires 5% Stake in Dufry: SIX Regulatory Filing
- ERICB SS : Ericsson Said to Win Scandinavian Network Deal With Hutchison
- ENX FP : Euronext 1Q Revenue EU127m
- GKN LN : GKN Workers at Airbus A350, A400M Plant Vote to Strike Over Pay
- GLEN LN : Glencore to Sell Stake on Port Kembla, Tahmoor: Australian
- BAER VX : Julius Baer in Talks to Buy Stake in Argentina’s TPCG: Reuters
- SDF GY : K+S May Have Found Anchor Shareholder, Platow Brief Says
- LDO IM : Leonardo Says Former CEO Moretti to Get More Than EU9.4m
- LMT US : Kushner Asked Lockheed to Cut Radar Price for Saudi Deal: NYT
- LMT US : Saudis Said to Forge $6b Lockheed Deal for Littoral Ships
- ORA FP : Orange in Talks to Buy Majority Stake in Business & Decision
- NVDA US : Nvidia May Still Be Underestimated After 500% Gain: Bernstein
- RNO FP : Renault Sold About 10,000 Zoe Cars in France in 2016: Feunteu
- CFR VX : Richemont Acquires 5% Stake in Dufry: SIX Regulatory Filing
- RR/ LN : Rolls-Royce in Talks With China’s Comac on Wide-Body: Daily
- GLE FP : SocGen Still Preferred French Bank at Jefferies, PT Increased
- TPZ SM : Telepizza Places 11.3m Shares for EU4.60 Each: Filing
- VIV FP : Total U.S. Video Game Sales Rose 10% Y/y in April to $636m: NPD
- VOW3 GY : VW’s Mueller Rejects Market Manipulation Allegations: HB
- VOW3 GY : Ducati attracts interest of Harley Davidson - Milano Finanza