Dow+0.17% S&P+0.05% Nasdaq-0.25% Russell-1.28%
MAjor Index closed near their flat line,but Small Cap still underpressure...Pressure on Oil continue to weight on market. Q4 GDP In china was a positive catakyst to the market but not enough...IMF revised its global growth projection to 3.4% for 2016 and 3.6% for 2017 versus prior estimates of 3.6% and 3.8%, respectively. commodity-sensitive energy (-2.1%) and materials (-1.2%) were followed by health care (-0.1%) and technology (-0.1%) while countercyclical utilities (+1.5%), consumer staples (+1.2%), and telecom services ( +1.2%) lead. WTI closed lower by 2.5% @ $29.62..trading down 3.20% this morning @ $27.55. Financials managed to close positive after MS(+1% & BAC (-1.5%), Volume were above average with more than 1bil shares traded. US After Hours NFLX +7.2%, CREE +4.6%, AMD -6.2%, IBM -3.5% following earnings/guidance, SYN +18.4% on phase 2, CLMT +12.1%. S&P500 futures are down over 1.5% at multi-month lows below 1,845, US 10-year note yield is down 5bps below 2%, crude oil is down another 3.1%. while gold is up over $5 above 1,092. Among regional indices, Nikkei and Kospi were down some 3%, Shanghai down by nearly 1.5%, and Hang Seng is down nearly 4% amid heavy selling in HKD. In Japan, Nikkei225 officially entered "bear market", falling 20% from the high mark set in June. Earlier press reports saw speculation that BOJ is considering to once again delay the timeframe to achieve the 2% inflation target beyond H2 of FY16, comments from business federation (Keidanren) about softer wage growth, and increasing uncertainty over the govt's goal of balancing budget by FY20. Yet again however, PM Abe reiterated that he sees Japan economic fundamentals as solid.
Nikkei -3.71% Hang Seng -3.50% Shanghai -0.87%
Eur$ 1.0961 CNH 6.5977 CNY 6.5792 JPY 116.60 GBP 1.4150 CHF 0.9997 RUB$ 79.27 WTI $27.61 (-3%)
S&P-1.62% EuroStoxx -2.76% Dax -2.7% SMI -1.79%
Macro :
- Saudi Banks Face Difficult Operating Conditions Next 2 Yrs: S&P
- UBS’s Axel Weber Sees No ‘Downward Spiral’ in Global Economy
Keep an eye on :
- ASML NA : ASML 1Q Outlook Below Ests.; Plans to Buy Back EU1b Shrs
- AZN LN : AstraZeneca to Conduct Phase 2a Asthma Trial Under Dynavax Pact
- BARN SW : Barry Callebaut 1Q Sales Beat Estimates
- EDF FP : EDF Plans to Build Hinkley Point Reactors in Six Years: Echos
- ENI IM : Eni Board Approves Bond Sale of Up to EU2b
- NOVN VX : Novartis’s Arzerra Wins Expanded Indication in CLL From FDA
- GLE FP : SocGen Traders Said to Pull Back From U.S. Mortgage Securities
- TIT IM : Il Sole reports comments from ViVendi CEO Mr de Puyfontaine that he has no plans / link with Niel and / or Orange. He also commented when questioned by a parliamentary committee that TI would push ahead with Metroweb and aims to become the undisputed number one concerning investment in Ultra broadband.
Il Sole reports that Oi has chosen Barclays and Santander as advisors to help with Oi’s merger proposals with Tim Brazil
- TKA GY : ThyssenKrupp’s Hiesinger Sees Good China Business: Sueddeutsche
- UCB BB : UCB’s New Epilepsy Drug Briviact Receives EU Approval
- DG FP : Vinci in Talks to Buy Abengoa Unit Abeinsa: Expansion
- VOW3 GY : VW Says Mueller’s Position Hasn’t Been in Question
- VOW3 GY : VW to Recall 78,083 Vehicles in China, AQSIQ Says
- VOW3 GY : Europe Industry Commissioner Demands Action From VW: Reuters
- ZURN VX : Zurich Sees 2015 Losses of ~$275m From U.K. Storms, 4Q Charges