Dow +0.19% S&P +0.06% Nasdaq -0.08% Russell +0.35%
US MarketSettled again higher. As expected, the FOMC unanimously voted to keep the fed funds target range at 1.00%-1.25% and announced that it will begin unwinding its balance sheet in October. Meanwhile, the Fed's so-called "dot plot" was unchanged from the one released in June, showing that the median FOMC member anticipates an additional rate hike in 2017 and three rate hikes in 2018. The feds funds futures market now places the chances of a December rate hike at 67.8%, up from 57.7% on Tuesday and from 48.7% last week. -technology (-0.5%) and financials (+0.6%)--finished at opposite ends of the leaderboard. Apple (AAPL 156.07, -2.66) weighed on the tech space, dropping 1.7%, following rumors of softer-than-expected demand for the new iPhone 8. energy sector (+0.7%) also outperformed, thanks in part to an increase in the price of crude oil; WTI crude jumped 1.5% to $50.70/bbl. US After Hours, AMD +7% extends Tesla AI related move higher, TPRE +5% on S&P SmallCap 600 addition news and APC +5% after launching multi billion dollar repurchase plan/reaffirming guidance. Asian equity markets opened mixed, Google and HTC confirmed a cooperation agreement with the transfer of some employee assets to Google. Bank of Japan (BOJ) also left policy unchanged, as expected. China PBOC sets yuan reference rate-0.3% at 6.5867, the weakest level since Sept 1st.
Nikkei +0.26% Hang Seng -0.08% CSI +0.05% Shanghai -0.01% Shnezen -0.42%
Eur$ 1.1883 CNH 6.5916 CNY 6.5915 GBP 1.3488 CHF 0.9716 RUB 58.1129 WTI$ 50.63 -0.12%
S&P -0.07% EuroStoxx +0.43% FTSE +0.12% Dax +0.39% SMI +0.33%
Macro :
- Fed to Shrink Assets Next Month, Boost Rates by Year End
- May’s Said to Mull Brexit Bill Offer to Unlock Talks in Florence
- Fed's New Dot Plot Shows Median Forecast for Three Hikes in 2018
Keep an eye on :
- ACS SM : ACS Would Sell Abertis Assets to Finance Bid, Expansion Reports
- AMD US : AMD Leaps After Report It’s Working W/ Tesla on Self-Drive Chip
- APC US : Anadarko Reports $2.5B Share Repurchase Program
- AAPL US : Apple Suppliers Fall; Rosenblatt Says IPhone 8 Pre-Orders Weak
- BIDU US : Baidu’s $1.5b Fund to Invest in 100 Autonomous Driving Projects
- BBVA SM : Cerberus in Talks to Buy BBVA Asset Portfolio: EL Confidencial
- BNP FP : German Government Is Said to Favor Commerzbank-BNP Merger: WiWo
- CBK GY : German Government Is Said to Favor Commerzbank-BNP Merger: WiWo
- ELIS FP : Elis Set for Earnings Upgrades Cycle, Outperform: Credit Suisse
- ERICB SS : Ericsson, RCom 1st Round Talks Are Said to Be Inconclusive: ECT
- FFP FP : Robert Peugeot Says FFP Discount Is Unjustified: Echos
- FORTUM FH : Fortum’s Play for Uniper Stake Is Built on Power Price Rally
- GETIB SS : Getinge’s Main Owner Carl Bennet Won’t Sell His Stake: DI
- GOOGL US : HTC, Google Agree to $1.1B Deal
- HNR1 GY : Hannover Re Says May Not Achieve FY Net Income Target
- HMB SS : H&M Gains as Results Set to Benefit From Easing FX Headwinds
- ISP IM : Intesa’s Gros-Pietro Sees Turn in Italian Banking, Economy: BZ
- LUX IM : Luxottica, Essilor Underperform, Synergy View Conservative: RBC
- MC FP : LVMH to Lift Internal Carbon Price, Boosts Renewables Target
- MOR GY : Janssen Starts Phase 3 Tremfya Studies, Morphosys to Get Payment
- NESN VX : Nestle to Cut R&D Jobs Sophia Antipolis to 150 From 550: Echos
- COX FP : Nicox, Eyevance in Pact for US Commercialization of Zerviate
- NVDA US : Nvidia Falls After Report Says Tesla Is Working With AMD on Chip
- CRH LN : CRH to Buy Ash Grove With $3.5B Enterprise Value
- NZYMB DC : Novozymes Seen Undervalued, Given Street-High PT by Bernstein
- ORI SS : Buy Oriflame on Cheap Valuation, Affarsvarlden Says
- P IM : Pirelli IPO Books Are Covered on Base Deal Size: Terms
- POM FP : Plastic Omnium to Sell Environment Unit, Focus on Automotive
- CFR VX : Richemont Appoints Van Oosten to Newly Created CTO Role
- RYA LN : Italy Regulator Probes Ryanair Over Flight Cancellations
- SAN FP : Sanofi’s Three-Armed Treatment Halts HIV-Like Virus in Monkeys
- SNAP US :
- TEL NO : Telenor Starts Offering of 90M of Shares in Veon Ltd.,Says Offer of 90M Veon Shrs Priced at $4.15 Per ADS/Shr
- TEN IM : Tenaris Falls; Morgan Stanley Cautious Into Analyst Day
- TSLA US : AMD Leaps After Report It’s Working W/ Tesla on Self-Drive Chip
- TKA GY : Thyssenkrupp Ready for Acquisitions After Steel Accord: HB
- VED LN : Vedanta May Raise Dividends After Chairman’s Anglo Buy: Nomura
- ZURN VX : Zurich Insurance North America CEO Mike Foley to Retire