Dow +0.46% S&P +0.36% Nasdaq +0.49% Russell +0.89%
US Market closed slightly higher but more cautious sentiment is winning the pace. Most cyclical sectors displayed strength from the start with three exhibiting relative strength into the close, which kept the market in the green despite the afternoon dip from highs. The financial sector (+1.1%) spent the day in the lead after underperforming yesterday. Meanwhile, the largest sector by weight—technology (+0.3%)—kept pace with the S&P 500. On the downside, the energy sector (-0.2%) spent the day in negative territory even though crude oil rose 0.3% to $53.24/bbl. consumer staples sector (-0.3%) remained at the bottom of the leaderboard throughout the day, weighed down by GIS -2.55%. Volume were still above average with 970mil shares. US After Hours NKE +2%, FDX -3% on numbers. Nike beats on top and bottom lines but pares afterhours gains on lower than exp Futures Orders; FedEx falls on earnings miss, affirms guidance. Shanghai Composite leads regional indices; Local press notes 14% rise in China Nov railway cargo volume and expectations of regulatory easing on stock index futures such as reduced margin requirements. Japan Cabinet Office (govt) follows BOJ in raising its economic assessment for the first time since the first half of last year; Sees economy on a moderate recovery path, with improved household spending and exports. Oil prices rise about 25c after API Inventories showing largest draw in 2 1/2 months.
Nikkei -0.26% Hang Seng +0.63% CSI +0.65% Shanghai +0.85%
Eur$ 1.0415 CNH 6.9367 CNY 6.9497 JPY 117.46 GBP 1.2373 CHF 1.0275 RUB 61.2421 WTI$ 53.61 +0.54%
S&P -0.03% EuroStoxx +0.66% Dax +0.33% SMI +0.10% FTSE +0.38%
Macro :
- S&P 500 to Reach 2400 Next Year, Voya Investment Predicts
- Japan to Book 2t Yen in Forex Reserve Account as Revenue: Nikkei
- U.K. Retail May See Robust Christmas, But Tough 2017: Jefferies
Keep an eye on :
- ABI BB : AB InBev Investor Bevco Lux Buys EU65.5m of Brewer’s Stock
- ABI BB : Coca-Cola Pays $3.15b for AB InBev’s Stake in Africa Operations
- ATLN VX : Sanofi Said to Dangle $2b Pipeline Prize to Woo Actelion
- ATLN VX : Sanofi talks with Actelion progressing: source - Reuters
- ACS SM : ACS Signs EU2.35b Syndicated Loan With 46 Banks
- ADS GY : Nike 2Q EPS Beats Est.; Shares Rise
- AWH US : Fairfax May Boost Allied World Cash Consideration to $35/Share
- BMPS IM : Paschi Said to Have Raised EU500m Through Tuesday in Debt Swap
- BMPS IM : Paschi Investors May Exercise LME Withdrawal Right Until Dec. 22
- BMPS IM : Atlante's €1.5B investment in Banca Monte Paschi will only take place if the State buys into cash call for no more than €1B and without burden sharing or write-downs
- BMW GY : BMW Sees Testing Automated Vehicles in Munich Area in 2017
- ENEL IM : Italy’s Enel Considering Co-Bid for Endeavour Energy, AFR Says
- GPRO US : GoPro Boosts Estimated Restructuring Charges by $7m
- KAHL SS : Kappahl 1Q Operating Profit Beats Highest Estimate
- LIN GY : Linde/Praxair May See Substantial Regulatory Review: Bernstein
- MC FP : De Beers CEO Is ‘Hopeful’ Diamond Sales Will Grow Next Year
- MS IM : Mediaset board votes to continue legal action against Vivendi
- MS IM : Mediaset Says Vivendi Moves Risk Paralysis of Company Activities
- NOVOB DC : Fluor Wins Novo Nordisk Contract to Build $2b Diabetes Facility
- NYR BB : Nyrstar Sells El Mochito Mine to Morumbi Resources for $0.5m
- OHL SM : OHL Wins Two Czech Contracts: El Economista
- RBI AV : Raiffeisen Asks Holders to Approve Share Issue for RZB Merger
- ROG VX : Roche Says FDA Extends Review of Ocrevus 3 Months to March 28
- SAN FP : Sanofi Said to Dangle $2b Pipeline Prize to Woo Actelion
- SBMO NA : SBM Offshore Wins ExxonMobil Contracts for Liza Oil Development
- SHA GY : Schaeffler expands in electric mobility by buying Compact Dynamics
- TWW SS : Altor Makes SEK2.29b Cash Offer for Transcom
- VIV FP : Vivendi Boosts Mediaset Stake to 25.75%, Holds 26.77% of Vote
- VOW3 GY : California to Get $41m From VW Mitigation Fund, Regulator Says
- VOW3 GY : VW Reaches Deal for Emissions-Cheating Audi, Porsche Models