Dow +0.17% S&P +0.04% Nasdaq -0.43% Russell -0.66%
US Mkt closed mixed again with Dow & S&P higher and Nasdaq & Russell Lower. Dow Printed its tenth consecutive record close, a feat that has not been achieved since 1987, when the price-weighted average recorded 12 consecutive record closes. Treasury Secretary Steven Mnuchin said that he anticipates the new administration's tax reform plan to to pass through congress before the August recess. Mr. Mnuchin's timeline may have cooled the recent bullish sentiment surrounding President Trump's upcoming "phenomenal" tax-related announcement, a promise which sent the stock market on its most recent rally. However, the financial sector (+0.1%), which has led post-election rally on promises of deregulation and tax reform, finished Thursday with a small gain. Technology (-0.1%) was plagued by a poor showing from chipmakers, evidenced by the 1.6% decrease in the PHLX Semiconductor Index. Industrials (-0.8%) finished Thursday at the bottom of the leaderboard amid growing speculation of a potential delay in the implementation of the Trump administration's infrastructure plan. Likewise, the materials sector closed lower by 0.6%. energy sector finished 0.5% higher thanks to crude oil's solid performance. The energy component finished up 1.6% at $54.47/bbl following Thursday's EIA crude inventory report. The remaining sectors--consumer staples, utilities, telecom services, and real estate--all closed with gains between 0.3% and 1.1%. US After Hours RH +16%, OLED +12%, AAOI +12% higher following earnings/guidance, INCY +4% on S&P500 addition news... ACIA -16%, ZOES -10%, HPE -6.5%, SPLK -6% following earnings/guidance, optical names lower with ACIA. Asian equity markets are down modestly for the 2nd straight day; Selling is the heaviest in the high-beta space, particularly materials and miners, as Dalian iron ore prces plunge over 5% from recent multi-year highs. China govt said to prioritize restructuring in steel, coal, and power industries
Nikkei -0.45% HAngSeng -0.42% CSI -0.04% Shanghai +0.02%
Eur$ 1.0588 CNH 6.8545 CNY 6.8712 JPY 112.81 GBP 1.2559 CHF 1.006 RUB 57.7845 WTI$ 54.37 -0.17%
S&P -0.16% EuroStoxx -0.03% FTSE -0.03% Dax -0.17% SMI -0.31%
Macro :
- VIX Three-Way Options Trades Show Bets for Higher Volatility
- Moelis Sees Strong China Outbound M&A Flow in 2017: Orders
- Peter Thiel’s Palantir Spreads Its Tentacles Throughout Europe
- Telecom Deals Are Back on the Table as CEOs Head for Barcelona
Keep an eye on :
- III LN : Lion Capital Said in Lead for 3i’s Agent Provocateur Brand: Sky
- ABG SM : Abengoa Creditors Said to Free Financial Injection: Confidencial
- AIR FP : Airbus Seeks Meeting With Governments on A400M: Les Echos
- AAPL US : Apple Cut Ties With Super Micro On Security Concern: Information
- BAS GY : BASF Sees 2017 Adj. Ebit ‘Slightly Higher’ as 4Q Profit in Line, BASF Gas and Oil Unit 2016 Ebit Ex Items Falls 62%; to Rise 2017
- BON FP : Bonduelle Agrees to Buy Ready Pac Foods, Expand in U.S. Salads
- BMPS IM : EU Seeks Broader Cuts From New Paschi Plan: Repubblica
- BVI FP : Bureau Veritas Delays Mid-Term Targets a Year
- KO US : Coca-Cola Says Most M&A Will Be Small, Bolt-On
- CSGN VX : Credit Suisse Sees $750 Million Revenue at Risk in ‘Hard’ Brexit
- ELE SM : Endesa 2016 Net EU1.41b; Est. EU1.37b
- ERA FP : Eramet FY Net Loss EU179M, Bories to Become Chairman
- FRES LN : Argonaut Gold to Buy Fresnillo Mineral Concession for $26m
- FUR NA : Fugro FY 2016 Revenue Falls 25%, Sees Further Decline 1H 2017
- GEC FP : Gecina to Start EU300m Share Buyback Program From Friday: CEO
- GFI FP : Gfi Informatique FY Net EU32.1M vs EU22M Year Ago
- ING FP : Ingenico FY Ebitda Falls 6%; Co. Drops 2020 Rev., Margin Targets
- KINV SS : Kinnevik Sees ’Conflict of Interest’ With Rocket Internet: HB
- LDO IM : Leonardo Sees 2017 Rev. Broadly in Line with Last Year
- TL5 SM : Mediaset Espana to Pay Extraordinary Dividend, Buy Back Shares, Mediaset Espana 2016 Net Rises 2.9% to EU171m
- PROX BB : Proximus Sees FY Ebitda Up Slightly, Domestic Rev. Nearly Stable
- RHK GY : Rhoen-Klinikum 2016 Ebitda Misses Est; Expects ’17 Modest Growth
- RHK GY : Rhoen-Klinikum 2017 Ebitda to Be ‘Considerably Lower’
- SAF FP : Safran 2016 Recurring Op. Income Beats Est.; Dividend Up 10.1%
- SPM IM : Saipem Confirms 2017 Guidance, Sees Adj. Ebitda at About EU1b
- SGO FP : Saint-Gobain FY Net EU1.31B; Est. EU1.23B; Dividend EU1.26/Shr
- SKY LN : EC-Prenotification Talks on Sky/Fox Near Completion: PaRR
- SOLB BB : Solvay Sees 2017 Adj. Ebitda Growth 4%-6%; Net Debt Rises in 4Q
- UBER IPO : Uber Self-Driving Engineer Raffi Krikorian Said to Exit: Recode
- UCG IM : UniCredit Says 99.8% of EU13b Rights Offer Subscribed
- VIV FP : Vivendi Targets 2017 Revenue, Ebita Increase; Confirms Dividend, Sees Momentum for Convergence; Says No Havas Deal Today
- VIV FP : Vivendi CEO ‘Optimistic’ About Finding Positive Mediaset Outcome
- VIV FP : Vivendi CEO Ready to Study New Developments With Orange: Echos
- VIV FP : Bollore Probed in Mediaset Case by Italy Prosecutor: Corriere
- VOW3 GY : Volkswagen Provided 3.4m Diesel Cars With Software Update