US MArket closed again on Record levels. Steels higher ahead of STEEL DYNAMICS and NUCCOR earnings. Semis up again (LAM RESEARCH earnings). AutoParts higher on BofA double-upgrade of MAGNA INTERNATIONAL. Oil subs lower (E&Ps struggled as NatGas fell -3%) and telcos saw some prof taking ahead of VERIZON earnings today. Homebuilders lagged on weak Housing starts. US after Hours , LLNW +12%, ADBE +9%, URI / KMI +2% higher and EBAY -6%, AA / HCA -1% lower following earnings/guidance. ASIAN EQUITIES – TRADING MIXED. Follow-through momentum from overnight US strength waning with GREATER CHINA underperforming and ASX 200/KOSPI erasing earlier gains. THE YEN added to sharp overnight declines, as higher UST yields highlighted as the main dynamic. Crude oil also retraced earlier advance with gold moderately weaker. Macro data was the main focus in the region. China Q3 GDP WAS INLINE with expectations. Press takeaways highlighted solid growth bolsters President Xi's political capital as he seeks to consolidate power. September IP and RETAIL SALES WERE FIRMER than expected, while fixed asset investment disappointed.
Nikkei +0.44% Hang Seng -0.18% CSI -0.19% Shanghai -0.33% Shenzen -0.41%
Eur$ 1.1800 CNH 6.6273 CNY 6.6248 JPY 113.05 GBP 1.3203 RUB 57.4141 CHF 0.9806
S&P -0.05% EuroStoxx +0.00% FTSE -0.04% Dax +0.06% SMI -0.01%
Macro:
- Worried by Record-Low Vol? It’s the Economy, Stupid: Macro View
- Italian Fund F2i Is Said to Seek at Least 3b Euros: Reuters
- Fed Beige Book Anecdotes: Hurricanes Affect Supply Chain
Keep an eye on :
- AA US : Alcoa Boosts FY Adjusted Ebitda View, 4.8% Above Est.
- AX US : American Express Boosts FY Adjusted EPS View, Beats Est.
- AAPL US : Apple Cuts Supplier Orders for IPhone 8 as Sales Miss: EDN
- AXFO SS : Axfood Third Quarter Operating Profit Beats Highest Estimate, 3Q Margin Slightly Lower Due to Investments
- BMW GY : BMW Earnings Risk Skewed to Downside, Rating Cut: Morgan Stanley
- BC IM : Brunello Cucinelli Says He’s Optimistic for 2018: Handelszeitung
- BN FP : Danone’s Riboud Plans to Keep Influence Within Company: Figaro
- ENI IM : Eni CEO Sees ’No Big Issue’ With Bridgewater Short
- GAM SW : GAM Holding Says It Won’t Pass on MiFID II Research Costs
- GET FP : Eurotunnel 3Q Comparable Revenue Growth 3%, Boosted by Shuttle
- KGX GY : Kion Cuts Full Year Order Intake Forecast
- KLOVA SS : Klovern Nine Month Property Management Profit SEK1.0 Bln
- LIGHT NA : Philips Lighting Third Quarter Revenue Misses Lowest Estimate, CEO Sees Dynamic Market in US Lamps Business
- NESN VX : Nestle Sees Added Restructuring Costs, Confirms Sales Forecast
- NOKIA FH : Nokia, Amazon Web Services to Help Service Providers Use Cloud
- NOVB DC : Novo Nordisk Diabetes Drug Wins FDA Advisory Panel Backing
- PUB FP : Publicis 2Q Revenue Falls 2.2%; Co. Sees 2H Improvement, CEO Aims for Higher Growth And Margins in Three Years
- RTO LN : Rentokil 3Q Ongoing Rev. Up 13.7%; M&A Pipeline Remains Strong
- RI FP : Pernod Ricard 1Q Sales EU2.29b; Est. EU2.26b
- ROG VX : Roche Third Quarter Sales Meets Estimates
- SAP GY : SAP Raises FY Forecast; 3Q Op. Profit, Revenue Miss Estimates
- SLIGR NA : Sligro 3Q Sales EU731m Vs EU712 in Previous Year
- HO FP : Thales 3Q Sales Fall 2.9%; Targets Confirmed
- TEL2B SS : Tele2 Boosts Full Year Ebitda Forecast
- TELIA SS : Telia Third Quarter Adjusted Ebitda Meets Estimates
- TEMN SW : Temenos Ests. Raised at Barclays After Beat, Stays Equalweight
- UNA NA : Unilever 3Q Underlying Sales Up 2.6%, Est. Up 4%
- ZO1 GY : Zooplus Third Quarter Sales EU277 Mln
- ZURN VX : Zurich Expects Net Claims of $700m from Three Hurricanes