Dow-0.29% S&P-0.22% Nasdaq-0.03% Russell-0.36%
US Market settle near the flat line again Friday, CPI pushed investors to think that a rate hike could come quickly in the US. Fed Chair Janet Yellen spoke at the Greater Providence Chamber of Commerce and reiterated that the central bank is ready to begin raising rates later this year. Nine sectors ended the day in negative territory while technology (+0.02%) avoided a lower close by a hair and contributed to the daylong outperformance of the Nasdaq Composite. Shares of Apple (AAPL 132.54, +1.15) climbed 0.9%, underpinning the move, while Hewlett-Packard (HPQ 34.76, +0.93) gained 2.8% after reporting a one-cent beat and guiding Q3 earnings below consensus. Deere +4.3% on better numbers. Crude oil kept the sector under pressure, falling 1.7% to $59.66/bbl. For the week, WTI crude lost 1.5% while the energy sector fell 0.8%. Volume were below average @ 604mil shares. In spite of the hotter than expected CPI data out of the US on Friday and a late session-selloff on Wall St, Asian indices are tracking higher despite the implications of a potentially more proactive Federal Reserve. With US markets on holiday this Monday and conditions thinned by holiday closures in Korea and Hong Kong, investors are also looking ahead to Tuesday's forward looking durables data and Friday's release of 2nd estimate of US GDP...EUR/USD saw some early session weakness with a 40pip drop below 1.0970, as the standoff between Athens and European creditors appears to have taken a turn for the worse. Greek media report citing Interior Minister indicated Greece will not have the money to repay €1.6B to the IMF next month unless a new deal with creditors is reached. Likewise, PM Tsipras reiterated there is a limit to what Greek govt is prepared to accept from the creditors. And even if the standoff does result in a stalemate, a referendum is not likely to break the ice - according to a weekend poll, 59% of respondents support govt position of not giving in to European creditors, but 71% still want to keep the Euro. German-led creditors are hardly budging also - Fin Min Schaeuble speaking to German press said there is no need to discuss "alternatives" on Greece, as Athens needs to deliver what it promised.
Nikkei +0.56% Hang Seng Closed Shanghai +2.74%
Eur$1.0990 EurCHF 1.0349 GBP 1.5484 JPY 121.63 RUB 49.89 WTI $59.71 (-0.02%)
S&P +0.04% EuroStoxx -0.11% Dax-0.4%
Macro :
- Greece Should Stay in Euro, Reach Deal With EU Quickly: Sapin
- Greece Won’t Accept Unreasonable Creditor Demands, Tsipras Says
- Greece Exit May Strengthen the Euro, Buffett Tells Newspaper
- Merkel May Tap Confidence Vote to Continue Helping Greece: Bild
- EU’s Oettinger Seeks to Abolish Roaming Fees in Europe: Bild
Keep an eye on :
- ATC NA : Time Warner Cable Said to Be in Sale Talks With Altice, Charter (over $54bil, ie 10% premium, deal could be announced next week.
- AREVA FP : GDF Suez Open to Buying a Stake in Part of Areva, CEO Says
- ATL IM : Atlantia may bid with EdF Invest in Nice airport auction - Il Sole 24 Ore
- BSLN SW : Basilea subject of takeover speculation - Tagesanzeiger
- BMPS IM : Monte Paschi EU3b Shr Sale to Cost Bank About EU130m
- BBRY US : BlackBerry Laying Off Workers in Handset Unit
- EN FP : Bouygues Says Leaving Stock Market Wouldn’t Be a Viable Option
- CWC LN : Cable & Wireless Communications CEO admits larger rivals might consider takeover - http://bit.ly/1JP0tN5
- DTE GY : Dobrindt Sees EU1B Proceeds From Wireless Auction, Bild Reports
- ERICB SS : Ericsson Wins U.S. Wireless-Patent Case Brought by Wi-Lan
- FCA IM : CEO Marchionne had approached GM about a merger in March but was rebuffed - NYT- http://nyti.ms/1LsGx0F
- FCA IM : Fiat Chrysler Declines to Fix Some Vehicles in Recall: NYT
- GM US : to face criminal charges and penalty for over $1B over faulty ignition switches WSJ http://on.wsj.com/1EqRqLf
- PART SS : Scanfil Offers SEK35/Shr for PartnerTech
- QIA GY : Qiagen Seeks to Sell Its Cervical Cancer Tests in Germany: FAZ
- SAN FP : Sanofi’s Global Head of Jevtana, Zhen Su, Is Leaving
- SYNN VX : Monsanto May Need to Offer Over CHF500/Shr for Syngenta: SamS
- US IM : UnipolSai Assicurazioni Units to Buy Una’s Hotel Businesses
- VOD LN : Management being urged by key shareholders to accept $120B deal with Liberty Global - http://bit.ly/1F4LOGU & http://on.ft.com/1AsYQT5
- VOD LN : Vodafone Said to Revive Plans to List India Unit by 4QFY16: CNBC