Dow -0.16% S&P -0.24% Nasdaq -0.23% Russell -0.63%
US Market closed lower ahead of Xmas week end. Cyclical sectors like technology (-0.2%), financials (-0.2%), and industrials (-0.4%) spent the day in negative territory while the health care sector (-0.6%) retreated into the afternoon. Biotechnology contributed to the weakness in the health care sector, sending the IBB lower by 1.1%. Two other cyclical groups—energy (+0.2%) and materials (+0.1%)—spent the day atop the leaderboard, with energy advancing despite a 1.3% slide in crude oil to $52.55/bbl. The energy component retreated after the release of bearish inventory data from the Department of Energy. Volume were below average with 850mil shares. US After Hours MU +10%, RHT -13% on earnings. Asian markets were widely weaker in quiet pre-holiday trade, volumes remain thin and currencies range bound. Icahn confirms he will serve as a special advisor to President Trump and Trump names China critic Peter Navarro chief of newly formed White House Trade Council - a move seen that will put China/USD trade relations on ice. Japan Cabinet approves FY17/18 budget spending plan of ¥97.5T (record high) v ¥96.7T in current year. Also reduced JGB issuance plans to ¥154T from the current ¥162T. They also cut new JGB issuance budget seen at ¥34.37T v ¥34.43T in current year. PBoC said to have ordered cash injection yesterday to suppress sharp declines in bond markets. China to focus on reducing asset bubble risks in 2017 including limiting speculative activity in the real estate market, high corporate leverage and local govt debt.
Nikkei -0.09% Hang Seng -0.78% CSI -0.17% Shanghai -0.09%
Eur$ 1.0449 CNH 6.9403 CNY 6.94962 JPY 117.62 GBP 1.2370 CHF 1.0243 RUB 60.9150 WTI$ 52.52 +0.03%
S&P -0.13% EuroStoxx -0.15% Dax -0.20% SMI -0.07% FTSE -0.20%
Macro :
- Equities to Outperform Bonds in 2017 on Reflation, Natixis Says
- Uber Stops Self-Driving Pilot in California
Keep an eye on :
- AC FP : Accor to Restructure Australia Hotels, Buy A$200m of Real Estate
- ATLN VX : Actelion, J&J Enter in Exclusive Talks in Surprise Reversal --> ADS (ALIOY) +10% in NY
- AZA IM : Italy Unions Ask for Meeting With Government on Alitalia
- AI FP : Air Liquide Wins Contracts Worth More than EU100m for Ariane 6
- ATC NA : Altice Sells Belgium, Luxembourg Business to Telenet
- BMPS IM : Italy Govt May Approve Decree to Rescue Paschi Today: Stampa
- BMPS IM : Atlante II May Help Paschi NPL Securitization if Cap Plan Fails
- BMPS IM : Paschi Says Capital Raising From Debt Swap Up to EU2.06b
- BBVA SM : BBVA Fined $27 Million by Fed for Exceeding Underwriting Limits
- COL SM : Colonial Studies Becoming a Socimi, Cinco Dias Reports
- DB1 GY : Deutsche Boerse Increases Share in Tradegate to Almost 20%
- FCX US : Activist Investor Icahn Sells Part of Stake in Miner Freeport
- IAG LN : IAG Plans Direct Flights to Americas From Barcelona: Vanguardia
- ITV LN : ITV to See Improving Advertizing Trends Next Year: Macquarie
- JMT PL : J. Martins to Buy Back Jeronymo Stores, 51% of Hussel Iberia
- LSE LN : Deutsche Boerse CEO Sees EU Approval for LSE Deal: Handelsblatt
- MGGT LN : Meggitt jettisons ballast in bid to lift shares, Chief executive Stephen Young thinks the company might be at the turning point - FT
- NOKIA FH : Nokia Sues Apple for Patent Infringement in U.S., Germany
- PBR US : Petrobras Sold $13b From $15.1b 2016 Divestment Goal: CEO
- RBS LN : RBS Said to Be Close to Sale of $600m in Shipping Loans: Reuters
- ROG VX : Roche’s Emicizumab Meets Phase 3 Endpoint in Hemophilia A
- ROG VX : Roche’s MS Drug Helps Patients in Trio of Clinical Trials
- SAN FP : Sanofi Climbs as Actelion Reveals Exclusive Talks With J&J
- SLB US : Schlumberger Hits Session High; 1Q Div. Boost Likely, UBS Says
- FP FP : Total May Consider Buying Other Petrobras Assets: CEO, Total Buys Stakes in Petrobras Assets in $2.2b Deal
- UBSN VX : UBS France Agrees to Buy Banque Leonardo France, Set Up JV
- UCG IM : UniCredit CEO Says HVB Unit Will ’Never’ Be Sold: Handelsblatt