Dow+0.74% S&P+0.68% Nasdaq+0.01% Russell-0.09% VIX 26.84 ( )
US Market closed higher but off their highs. Oil rebound helped to "fuel" equity rebound. the European Central Bank left its deposit facility rate and refinancing operations rate unchanged at -0.3% and 0.05%, respectively. However, ECB President Mario Draghi stated that the central bank "will need to review and therefore possibly reconsider" its monetary policy stance in March as downside risks have increased in 2016. Mr. Draghi's comments invited heavy speculation regarding future stimulus provisions, lifting futures to new highs. WTI crude was up more than 6.3% before it ticked down from its high into the commodities pit session close, ending 4.2% higher at $29.54/bbl. energy (+2.9%), telecom services (+2.4%), consumer discretionary (+1.4%) and materials (+0.9%) lead while financials (-0.3%), health care (-0.3%), and utilities (Unch.). IBB slid 2.4%% after yesterday's 3.5% climb. Volume were above average @ 1.1b shares. US After Hours EGHT +5.7%, MITL +3.3%, CSII -20.1%, DGII -9.1%, SBUX -4.3% following earnings/guidance. Asian equities are in rally mode with the exception of Shanghai Composite, which opened sharply higher but was unable to sustain gains but after trading in negative territory, Shanghai is up again. Speculation over more easing by global central banks is back in play over the past 24 hours, as investors reprice the likelihood of steady hikes by the Fed and status quo at the ECB and BOJ. Recall overnight FT report that the latest fixed income data implies only a 1% probability of 4 hikes by the FOMC that they communicated with last month's tightening. ECB president Draghi was handed the baton and delivered a very dovish statement promising to consider reassessment of policy in March. BOJ is on deck for late next week, and already the expectations are on the rise that more QQE measures will be adopted. Japanese press report stated the central bank would have a "serious look" at expanding measures, growing increasingly less comfortable with falling oil prices and renewed strength of the yen.
Nikkei +5.88% Hang Seng +2.41% +0.93%
Eur$1.0833 CNH 6.6040 CNY 6.5795 JPY 118.08 GBP 1.4235 CHF 1.0094 RUB $40.45 WTI$30.84(+4.45%)
S&P +1.03% EuroStoxx +1.5% Dax +1.67% SMI +1.26%
Macro :
- Greece Says Tsipras, Lagarde Agreed No One Wants Review Delayed
- George Soros Says He Expects Hard Landing for Chinese Economy
- Saudi Arabia says $30 oil is ‘irrational’ - FT http://on.ft.com/1PImMmL
- Templeton’s $42 Billion Manager Says the Gloom Has Gone Too Far
- Soros Says China Hard Landing Will Deepen the Rout in Stocks
- Oil Is ‘Trade of the Year’ for Citigroup After Iran Export Surge
Keep an eye on :
- ABE SM : Abertis Acquires Remaining 50% of Autopista Central for EU948M
- ABG SM : Abengoa to Cut 1,700 Jobs in Spain: El Confidencial
- ABI BB : Asahi, ThaiBev Said to Make Next Round for Peroni, Grolsch: FT
- AC FP : Radisson Hotel Owner Carlson Said to Explore Sale: WSJ http://on.wsj.com/20hsJP2
- AIR FP : Boeing to Cut 747 Production Rate, Sees $569m Charge
- MT NA : Brazil Court Asks Some Vale, Arcelor ES State Ops Halted
- BMW GY : BMW, Brilliance JV Opens New Engine Plant in China
- BSLN VX : Basilea Says GlaxoSmithKline Halts U.S. Alitretinoin Program
- BMPS IM : Paschi Moves 4Q Earnings Release To Jan.28 from Feb.5: La Stampa
- BMPS IM : Renzi Says Paschi Will Have to Find Partner in Few Mos: Radiocor
- BNPS IM : Monte Paschi Says Board to Meet on Preliminary Results Jan. 28
- BOI FP : Boiron Says 2015 Operating Income Will Be Lower Than in 2014
- DELB BB : Delhaize 4Q Rev. Growth at Identical FX 4.9% vs 2.3% Prior Qtr
- ERICB SS : Ericsson Says Co. Has No Plans to Downsize in China, SVD Reports
- FNC IM : Finmeccanica CEO Says 2015 Results Better Than 2014: Ansa
- KTC NA : Ten Cate Holders PSquared, Syquant Raise Stakes: AFM Filings
- OCDO LN : Amazon Set to Pledge to Add Thousands of Staff Across Europe: FT
- PHIA NA : Philips Scraps Lumileds Sale to GO Scale on U.S. Opposition (1)
- CFR VX : Richemont Buys Remaining 40% of Roger Dubuis, Le Temps Says http://bit.ly/1QoW9bk
- SAP GY : SAP Raises 2017 Outlook; Confirms 2020 Guidance
- SDRL NO : Seadrill CEO Says Sees No Doomsday for Co.: Dagens Naeringsliv
- FP FP : Total CEO Sees Little Sense to Invest in Oil Shale R&D Today