Dow-2.06% S&P-2.10% Nasdaq-2.82% Russell-2.51% FXI -2.47% VIX 19.18 +25.51%
US Market closed lower for a third day in a row and record biggest loss since Feb. 2014, VIX is up 25.5%, lot of doubts remain in the market ahead of Sept. FED...rate-hike speculation, concerns about the global economy, plunging commodity prices, Greece, China,...A.Tsipras resigned and called for snap elections on Sept. 20th...all ten sectors closed lower...Energy performed better than other sectors thanks to Crude that ended little change at $41.26...Large TEch names were heavily down, TWTR -5.83% closed on its IPO ($26) Price after trading below during the session...volume were above average at 900mil shares, Salesforce.com beats by $0.02, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY16 EPS in-line, revs above consensus -->+3.7% in after hours, Hewlett-Packard beats by $0.03, reports revs in-line; guides Q4 EPS below consensus; separation on track --> +0.2% in after hours...US After Hours UEPS +9.0%, CRM +3.7%, HPQ +0.2%, TFM -11.5%, ROST -9.5%, CRMT -6.4%, INTU -2.9% following earnings/guidance...China's August preliminary manufacturing PMI missed consensus by over a point and was the lowest level in nearly 6 1/2 years, remaining in contraction for the 6th straight month. The survey's key output component fared even worse at 46.6 - the lowest level since late 2011. S&P futures were up 3pts ahead of the release but fell as much as 12pts to fresh 6-month lows below 2,009 after the data. Earlier, a financial press report speculated that Pres Xi could shift focus from GDP to population growth, targeting GDP rate of growth of 6.5-7.0% while also considering lifting restriction on family size. This marked the 3rd straight day of press speculation about reduced Chinese growth outlook. Citigroup also cut its 2015 and 2016 GDP targets below the 7% official threshold to 6.8% and 6.3% respectively. Japan manufacturing PMI rose to a 7-month high as new order growth accelerated, but that result hardly had much impact, as risk aversion was just as punishing for Tokyo stocks. Yen rally was largely on safe-haven demand that also boosted CHF, US Treasuries, and Gold (added $15 in the electronic session to approach $1,170 on top of the $35 gained over the past 2 sessions). North Korea's Kim put his military on high alert in response to propaganda loudspeakers from the South after the two sides exchanged shell fire overnight. Reports added that the North is moving artillery close to the border.
Nikkei -2.76% Hang Seng -2.23% Shanghai -2.48%
Eur$ 1.1284 CNY $6.3983 JPY 122.92 GBP1.5696 EURCHF 1.0798 RUB $67.99 WTI $40.80(-1.26%) GOLDS $1,165(+1.12%)
S&P 2,013 (-0.60%) EuroStoxx-2.30% Dax -2.55% SMI-1.46%
Macro :
- Yellen's Fed Faces A Changed Economic Reality After July Meeting
- Goldman Sees Hedge Funds Playing Defense as Global Outlook Dims
Keep an eye on :
- ADEN VX : Adecco Names Hans Ploos van Amstel CFO as of Sept. 1
- AFR LN : Oriental Says to Take Control of Afren’s Ebok Field by Aug. 31
- AFR LN : Afren’s Ebok Field Transition Plan Triggered by Insolvency
- ATC NA : EuroPacific Growth Fund’s Stake in Altice Falls to 4.92%: Filing
- ATC NA : Altice values telcos at EUR 115m instead of reported EUR 380m - Diario Economico
- MT NA : ArcelorMittal Defers Kazakh Salary Cuts After Tenge Devaluation
- AMS SW : AMS to Build $2b Manufacturing Plant in New York State
- DETNOR NO : Det Norske Says Will Await Outcome of Sverdrup Complaint
- HPL GY : Hapag Lloyd Plans IPO for October, Reuters Reports
- ISN SW : Intershop Names Jochen Wiechen as New CEO
- KOG NO : Kongsberg 2Q Slightly Above Est.; Oil & Gas Tech Capacity Adj.
- KUNN SW : Kuoni Sees 2015 Ebit of CHF40m-CHF50m
- MAU FP : Maurel & Prom Starts Mnazi Bay Tanzanian Gas Output From 2 Wells
- MEO GY : Metro Says No Answer Received From Convergenta on MSH Stake
- NOVN VX : Novartis to Buy Remaining Rights to GSK’s Ofatumumab
- NOVN VX : Novartis’s Sandoz Wins Ruling Invalidating Velcade Patent
- SZG GY : Salzgitter Unit Under Investigation for Corruption: Sueddeutsche
- TNTE NA : FedEx Offer for TNT: Acceptance Period Starts Aug. 24
- FP FP : Total Faces Trial Over 2009 Carling Plant Deaths: Le Parisien
- URKA LI : Uralkali Weighs New Share Buyback, Delisting From LSE: Vedomosti
- VPK NA : Vopak 1H Net EU162m Up 17% Y/y; Maintains FY Ebitda Guidance
- ZURN VX : Zurich Insurance Hires Evercore for Possible RSA Bid: FT