Dow -0.12% S&P -0.06% Nasdaq +0.12% Russell+0.24%
US MArket closed again little change and waiting for Jackson Hole, Fed Chair Janet Yellen is slated to speak Friday at 10:00 ET. Fed Vice Chair Fischer struck a somewhat hawkish tone over the weekend when he stated that the U.S. economy is close to hitting employment and inflation targets. The upbeat view on the U.S. economy had some participants question whether Mr. Fischer would advocate for at least one fed funds rate hike before the end of the year. The implied probability of a rate hike at the September meeting, as measured by the fed funds futures market, rose to 18.0% from 12.0% on Friday. The odds of a rate hike at the December meeting increased to 53.5% from 46.2%. Other focal points impacting today's trade included a downturn in crude oil futures (WTI crude finished the day lower by 3.4% ($47.42/bbl; -$1.65) amid concerns regarding the extent of the recent oil rally.) and sector leadership from the heavily-weighted health care (+0.1%) space. Six sectors ended in the red with commodity-sensitive energy (-0.9%) rounding out the leaderboard. Conversely, defensively-oriented consumer staples (+0.1%) health care (+0.1%), and utilities (+0.3%) outperformed. IBB +2% helped by MDVN/PFE deal, VRX +8% on new CFO. Volume were below average @ 685mil shares. US After Hours NDSN +3%, NQ +2% higher following earnings/guidance, DATA +6% on CEO news ... ZOES -17%, PINC -9% following earnings/guidance. Asian equity markets are modestly higher with volatility at a minimum on few macro catalysts, as investors seem reluctant to place large directional bets ahead of the Jackson Hole address by Fed chair Yellen late this week. Oil prices continued to roll over, falling for the 3rd straight session in electronic trade following a cautious note on Brent out of Goldman Sachs. Japan Aug prelim Manufacturing PMI rose to 49.6 from 49.3 but stayed in contraction for the 6th straight month. Markit economist said the data "registered a slight drop in employment for the first time since last September.
Nikkei -0.70% Hang Seng -0.29% CSI +0.32% Shanghai +0.25%
Eur$ 1.1338 CNH 6.6541 CNY 6.6465 GBP 1.3164 CHF 0.9613 RUB 64.9161 WTI $48.76 (-0.71%)
S&P +0.01% EuroStoxx +0.34% Dax +0.37% SMI +0.27%
Macro :
- Emerging-Market Funds See $13.2b Inflows Since Late July: IIF
- European Chemicals Caution Urged at Credit Suisse in 2H
Keep an eye on :
- ABG SM : Green Plains to Buy 3 Abengoa Bioenergy Ethanol Plants for $237m
- AIR FP : Boeing 2016 Widebody Orders Below Target: Aviation Week
- BOSN SW : Bossard 1H Ebit Rises, ‘Cautiously Optimistic’ Outlook
- CABK SM : CaixaBank Risks Not Discounted, Revenue Outlook Weak: Berenberg
- CNHI IM : Deere Lays Off 145 Workers at Two Iowa Plants, Spokesman Says
- DBK GY : Deutsche Bank $10b Scandal - http://bit.ly/2bIQxrS
- GKP LN : Gulf Keystone: DNO plays down prospect of revised bid
- HSBA LN : HSBC Bought Back 1.67m Shares at Avg 542.71 Pence Each Aug. 22
- IMPN SW : Implenia With Full Order Books, ‘Confident’ to Reach Ebit Target
- KPN NA : KPN, Samsung Settle Patent Fight; Terms Not Disclosed
- MBLY US : Delphi, Mobileye Tie Up to Develop Self-Drive System: WSJ
- RNK LN : Rank Says FY LFL Growth 3%, Trading Since Year End Positive
- RNO FP : Renault emissions discrepancy omitted from official probe report
- SAN FP : Sanofi May Eye Biogen as Deal-Making Season Heats Up: Jefferies
- SU FP : Schneider Said to Weigh Sale of Agricultural Data Service DTN
- STL NO : Statoil May Cut Further 600 Jobs, TV2 Reports
- STMN SW : Straumann 1H Sales Up, Raises FY Revenue Growth Guidance
- UBER IPO : Lyft’s President Says Co. Isn’t Seeking Buyer: Business Insider
- VIV FP : Amazon Said to Launch 2 New Streaming Music Services: Recode
- VOW3 GY : Bosch Calls VW Owners’ Diesel-Cheating Claims Wild and Unfounded
- VOW3 GY : VW Short-Time Work Payments Could Cost EU10 Mln Weekly: Bild
- WHM LN : William Hill bid speculation dismissed by CVC-side sources