Dow+0.90% S&P+1,09% Nasdaq +1.03% Russell +1.36%
US market closed higher after long awaited FOMC Meeting. EIA reported that crude oil stockpiles declined by 6.20 million barrels (consensus: +3.35 million) while gasoline stockpiles fell by 3.20 million barrels (consensus: -0.57 million). The benchmark index gained lockstep with crude oil, but was unable to clear technical resistance near the 2150/2153 price level. The broader market retraced the bulk of its opening gain by midday. The energy component settled higher by 2.6% ($45.22/bbl; +$1.17). The FOMC opted to leave the target range for the fed funds rate unchanged at 0.25% to 0.50%. However, three committee members dissented, indicating that they supported an interest rate hike at the September meeting. Additionally, the committee lowered rate hike expectations going forward, estimating one rate hike in 2016, two to three in 2017, and three in 2018. All eleven sectors ended in the green with telecom services (+1.3%), materials (+1.5%), utilities (+2.1%), and energy (+2.1%) leading the advance. financial space (+0.7%) finished behind the broader market as participants continued to adjust rate hike expectations for the year. The fed funds futures market indicates that the implied probability of a rate hike at the November meeting has declined to 14.5% (from 22.0%) while the probability of a rate hike at the December meeting rose to 63.4% (from 59.2%). Volume were in line with 873mil shares. US After Hours OCRX +23% on trial update, NVAX +9% continued strength/insider buy disclosure... MLHR -10%, JBL -4%, BBBY -1% following earnings/guidance. Asian Markets aret rading higher following move in the US. Japan closed today.
Nikkei Closed Hang Seng +0.91% CSI +0.84% Shanghai +0.68%
Eur$ 1.1197 CNH 6.6767 CNY 6.6689 JPY 100.24 GBP 1.3052 CHF 0.9732 RUB 63.84 WTI$ 45.78 (+0.97%)
S&P -0.07% EuroStoxx +0.54% Dax +0.56% SMI +0.54%
Macro :
- Divided Fed Holds Fire, Signals 2016 Rate Increase Still Likely
- Yellen Rebuffs Pressure to Hike as Fed Gives Economy Room to Run
- Cohen’s Point72 Goes on Biggest Ever Hiring Spree in Asia (1)
Keep an eye on :
- AIR FP : WTO Expected to Rule Against EU on Airbus Subsidies - WSJ
- AREVA FP : Areva’s Finland Atomic Plant to Operate in 2018, Figaro Says
- BGN IM : Banca Generali in Talks to Buy UniCredit’s FinecoBank: Reuters
- CABK SM : CaixaBanks Makes Compulsory EU1.134/Shr Bid for Banco BPI
- AM FP : French Defense Minister Le Drian to Visit India on Friday
- DB1 GY : German Regional Stock Exchanges Evaluating Merger, FAZ Reports
- EDF FP : EDF Cut to A- from A by S&P on Hinkley Point Project Risks
- EDF FP : EDF Sees 2016 Ebitda Target EU16.3b-EU16.6b, Saw EU16.3b-EU16.8b
- ERICB SS : Ericsson Said Planning to Shut Down Production in Sweden: SVD
- GILD US : Gilead Stops Phase 2/3 Trial for Patients W/ Ulcerative Colitis
- KCR1V FH : said it has tens of interested parties in Stahl, its crane systems, according to Kauppalehti Online.
- LHA GY : Verdi Calls on Eurowings Cabin Crew to Strike Thursday
- MBWS FP : Marie Brizard 1H Rev., Ebitda Falls, Sees 2016 Ebitda ~EU20m
- MYL US : Mylan Says Profit Will Be ‘Considerably’ Less on Generic EpiPen
- COX FP : Nicox 1H Net Loss Widens to EU24.2m; R&D Shift to Cut Costs
- RBI AV : Raiffeisen Postpones Merger Evaluation Results Until Early Oct.
- RKET GY :
- SHP LN : Shire Hemophilia Drugs Restricted in UNH Formulary: Bernstein
- TGYM IM : Technogym CEO Confident on Growth Potential, Market Share Gain
- TUI GY : TUI Joins Air France in Studying Low-Cost, Long-Haul: Tribune
- UTDI GY : United Internet to Offer Users Power Contracts: Sueddeutsche Z.
- VZ US : Verizon Said to Be in Advanced Talks to Buy Vessel: Recode
- VOW3 GY : EU Says VW Commits to ‘EU-Wide Action Plan’ for Consumers
- VOW3 GY : VW’s Seat Stops Sale of Some Ateca Models on Emissions, FAZ Says