Dow -0.37% S&P -0.36% Nasdaq -0.28% Russell -0.94%
US Market Closed lower ahead of tomorrow ceremony in Washington. Financials stayed weak despite a growing batch of better-than-expected earnings reports. the European Central Bank announced its latest policy decision this morning. The market response was muted, however, as the ECB left rates and the stimulus program unchanged and ECB President Mario Draghi struck a dovish tone in his post-decision press conference. The euro slid in reaction to Mr. Draghi's remarks, but retraced that decline to end higher by 0.3% against the dollar at 1.0660. At the opposite end of today's leaderboard were utilities (-0.9%) and real estate (-1.0%), suffering from an uptick in Treasury yields. Treasuries were in negative territory for the entire session, but the benchmark 10-yr yield retreated from its high by the close, ending higher by four basis points at 2.47%. Energy (-0.7%) finished only slightly better, ignoring crude oil's modest gain (0.5% at $51.27/bbl). US after hours SWKS +8% following earnings and lifting peers and other RFMD/Apple suppliers... IBM -1.7%, AXP -1% following earnings/guidance. Asian equity indices continue to trade mixed as sentiment is rangebound in anticipation of power transition in the US heralding greater clarity on economic priority of the new administration. Australia was one of the more notable decliners as mining shares stumbled, while Nikkei managed to preserve a modest gain despite the rally in JPY early in the day. China economic data were mostly steady, as Q4 GDP edged up to 6.8% after 3 straight quarters at 6.7% growth; Fixed investment growth slowed, mainly due to a slight retreat in property sales value growth; Industrial output also hit a 5-month low, with slower growth in power generation, steel, and NatGas. Consumption accounted for 64.6% of 2016 GDP; Services sector accounted for 51.6%.
Nikkei +0.34% Hang Seng -0.32% CSI +0.65% Shanghai +0.57%
Eur$ 1.0680 CNH 6.8421 CNY 6.8744 JPY 114.69 GBP 1.2358 CHF 1.0049 RUB$ 59.7850 WTI$ 52.24 +0.25%
S&P +0.11% EuroStoxx -0.03% FTSE +0.20% Dax -0.10% SMI +0.16%
Macro :
- China Temporarily Cuts Reserve Ratio for 5 Major Banks: Reuters
- George Soros Says Markets Will Falter as Uncertainty Takes Over
- Apple Suppliers Gain Post-Market After Skyworks Beats
- China’s Yuan Outflows Plummet, Showing Capital Controls Pay Off
- Oil Demand at Risk as China Reins In Buyers That Bought Less
Keep an eye on :
- ABBN VX : ABB Group to Hire 2,000 People in Polish Service Center
- ALTA FP : Predica Sells 300k Altarea Shares at EU175/Share
- AAPL US : Apple slightly higher after hours following strong report from RFMD chip supplier Skyworks (SWKS +10%)
- BOL SM / BLUE FP : Bollore’s Electric-Car Venture Leaves Investors on Side of Road
- BC IM : Brunello Cucinelli Shares to Be Priced at EU21.09 Each: Terms
- CABK SM : CaixaBank Parent Co. to Distribute EU100m to Foundation
- COFA FP : Coface Said to Guarantee EU350m of Intesa/Yamal Loan: Interfax
- CDA FP : Compagnie Des Alpes 1Q Rev Rises 8.9%, Boosted by Leisure Unit
- DEXB BB : Belgian Government Faces Extra EU132 Mln Cost From Dexia: L’Echo
- ENG SM : Enagas Says Peru’s GSP Concession May Be Terminated
- FRE GY : Fresenius Places Convertible Bonds at 101% Nominal Value
- GAM SM : Gamesa to Supply 134 Turbines to Iberdrola in Mexico
- HEIA NA : Heineken Said Paying About $870m for Kirin Brazil Ops: Nikkei
- HEIA NA : Heineken Confirms is in Talks With Kirin Over Brazil Operations
- ISP IM : Intesa Keen to Participate in More Russian Share Deals: Izvestia
- SDF GY : K+S Wants to Postpone Name Change for Esco Unit: FAZ
- EDEN FP : Edenred Investor Colday Selling 5.7% Stake: Terms
- LLOY LN : Lloyds Said to Shuffle Executives, Preparing for Strategy Review
- KN FP : Natixis May Match EU0.35 DPS of Last Year, Beat Consensus: UBS
- NOVN VX : Novartis Put Bets Jump to 10-Month High as Stock Falls Further
- UG FP : Hollande Says French State to Keep Stake in PSA: AFP
- DPB GY : Postbank CEO Backs Separation From Deutsche Bank: Handelsblatt
- RHK GY : Holzinger to Be Rhoen-Klinikum CEO If Supervisory Board Approves
- GLE FP : Societe Generale Tests First Bail-In Bonds in a Nordic Currency
- SYNN VX : ChemChina Files for U.S. Antitrust Approval of Syngenta Deal
- TIT IM : Vivendi denies it is considering selling Telecom Italia stake - Milano Finanza
- TKA GY : Thyssenkrupp Rules Out Capital Boost in Targeted 15% E/R: FAZ
- TRYG DC : Tryg 4Q Net Misses Estimates; CEO Says 2017 on Track for Targets
- UCG IM : UniCredit Said to Pay Bankers 400 Million Euros for Share Sale
- VIV FP : Vivendi denies it is considering selling Telecom Italia stake - Milano Finanza
- VOW3 GY : VW Says Automaker Won’t Publish Details of Jones Day Probe
- ZC FP : Zodiac Targets Stable Sales, Gain in Op. Income in FY 2016/17