US MArket closed lower, 3rd day in a row, Mixed PMI data & Tax inversion new law weighted on sentiment, influential sectors, financials (-0.7%) and technology (-0.2%) displayed relative strength at the start, but only the tech sector was able to end near its flat line. The top-weighted component, Apple (AAPL 102.64, +1.58), did some heavy lifting, while other influential names like Facebook (FB 78.29, +1.49) and Google (GOOGL 591.18, -6.09) ended mixed, Outside of technology, the energy sector (-0.3%) was the only other cyclical outperformer, while crude oil rose 0.7% to $91.55/bbl. The other
commodity-related sector—materials (-0.6%)—ended in line with the market. Volume were ahead of average @ 700mil shares...we saw demand in volatility VIX @ 14.93 +9.06%...US After Hours BBBY +7.5%, GTI -12.6%, AIR -3.5% following Earnings/Guidance...China markets remain supported by chatter of policymakers' easing of housing curbs, Goldman Sachs cut its China 2015 GDP forecast to 7.1% from 7.6% prior, forecasting policymakers would lower their 2015 target to 7.0% from 7.5% in 2014. CPI projections were also downgraded for 2014 and 2015 to 2.2% and 2.5% respectively...Japan PM Abe noted he would prefer some caution related to the impact of recent Yen weakness on local economies. Markets briefly interpreted that as an expression of discomfort related to the side-effects of weak-JPY policy pursued by the BOJ, sending USD/JPY down about 30pips below ¥108.50...Nikkei -0.28% Hang Seng +0.65% Shnaghai +1.45%
Eur$ 1.2850 S&P +0.15% EuroStoxx -0.03% FTSE -0.27% SMI -0.14% Dax Flat
Macro
- Yellen Warns Against Market Complacency Before ‘Considerable Time’ Is Up
- Volume of Inversion Deals Likely to Increase, Panmure Says
Keep an eye on :
- ADEN VX : Adecco Says Underlying Sales Rise 5% Organically in July, August
- Asahi (3333 JP) : -4.5% cuts FY Forecasts
- EN FP : Bouygues Telecom Reduces Planned Job Cuts to 1,404: Les Echos
- DAI GY : Daimler Aims to Curb Chinese Rivals With Trucks From India: Welt
- Esprit (330 HK) : Esprit Falls Most in 4 Mos. After Morgan Stanley Note on Outlook --> HMB, ITX
- FCC IM : Soros Said to Plan to Keep FCC Stake at About 4% in Fundraising
- FERI IM : Ferrari Recalls More Than 3,000 F458 Italia, Spiders: Wash. Post
- Hengdeli (3389 HK) : -2.21%
- Rocket IPO : Rocket Internet Sets IPO Price Range EU35.5-EU42.5/Shr
- SAND SS : Sandvik Seeks Second Credit Rating to Regain Access to U.S.
- SDRL NO : Seadrill Partners to Sell 8m Units in Public Offering
- Starbuck Japan (2712 JP) : +4.5%; Starbucks Corp. to buy remaining 60.5% of co. in 2-step tender
- Softbank ( 9984 JP ): Softbank -3.4% continue to trade lower
- SPRT LN : Spirit Pub Rejected Greene King Approach on 100p/Shr Bid
- TFI FP : TF1 Plans to Cut 60% of Jobs at LCI, Le Figaro Says
- UCG IM : UniCredit CEO Rules Out Acquisitions in Italy
- YAR NO : Norway Govt Parties Say Yara Must Stay in Norway: Finansavisen
- Yokohama Rubber (5101 JP) : -3.7% on Citi Dwg --> ML, CON