Dow +0.43% S&P +0.47% Nasdaq +1% Russell +0.69%
US Markeg Closed higher as M&A activity picked up (AT&T/TWX, COL/BEAV,...), A downturn in crude oil futures contributed to the mid-morning pullback as investors assessed the state of OPEC's proposed supply freeze agreement. Iraq made headlines this morning after indicating that it will seek an exemption from the previously discussed agreement. However, selling remained in check after Iran stated that it would encourage other members to join the output freeze. Crude oil briefly broke below $50.00/bbl before settling at $50.52/bbl (-0.7%; -$0.33). Eight sectors ended in the green with technology (+1.2%), consumer staples (+0.7%), and consumer discretionary (+0.7%) outperforming. On the other hand, telecom services (-0.8%) and energy (-0.2%) finished at the bottom of the board. AMZN +2.3% on GS upgrade of PT $1,050 from $920. Volume were below average 853mil as 779mil shares. US After Hours CR +9%, RMBS +7%, ALSN +2.5% following earnings/guidance, SAEX +37% on tax credit certificate news, CWEI +8% on asset sale/COO news... SONC -11% and V -1% following earnings/guidance. China NDRC spokesperson sees economy ahead of schedule in meeting 2016-end overcapacity cuts in the steel sector, achieving the milestones in November. China Yuan fix set at record low for 3rd straight session as continued strength in US economic data solidifies the case for a FOMC rate hike in Dec. PBoC Dep Gov Yi responds that there is no basis for a persistent depreciation in CNY. Japan press speculates the BOJ will hold off on further easing at its upcoming policy meeting on Nov 1st despite expected downward revision in CPI projections; Report sees BOJ once again pushing back its forecast for reaching 2% inflation to FY18 from FY17 while still maintaining assessment that the trend in inflation is improving.
Nikkei +0.76% Hang Seng -0.03% CSI -0.11% Shanghai +0.0%
Eur$ 1.0885 CNH 6.7831 CNY 6.7750 JPY 104.39 GBP 1.2226 CHF 0.9939 RUB$ 62.0931 WTI$ 50.57 +0.10%
S&P +0.17% EuroStoxx +0.13% Dax +0.17% FTSE +0.27% SMI +0.15%
Macro :
- New York’s Latest Must-Have Luxury Apartment Craze Is Driveways
- Fed Hike Would Provide Chance for BOJ to Weaken Yen: Takenaka
Keep an eye on :
- ABN NA : Hedge Fund Parvus Reports Smaller ABN Amro Stake of 2.87%
- ABN NA : Julius Baer, DBS Said to Mull Buying ABN Amro Asia Private Bank
- AI FP : Air Liquide 3Q Rev. Slightly Misses Ests.; Confirms 2016 Outlook
- AIXA GY : Germany Indicated Security Concerns in Aixtron Bid: Grand Chip
- ARM LN : ARM CEO Warns Hard Brexit May Seriously Damage Business: FT
- BMPS IM : Monte Paschi Board Approves Business Plan: Ansa
- BMPS IM : Monte Paschi Plans Capital Increase EU5b Excluding Option Rights, Monte Paschi Targets Over EU1.1b Net for 2019, ROTE Above 11%
- BMPS IM : Paschi Got Offer From ICBPI for Merchant Acquiring for EU520m
- BUR FP : Burelle 3Q Economic Rev. Climbs 22%
- 1COV GY : Covestro 3Q Adj. Ebitda Rises 22%, Beats Estimate; Outlook Up
- DSY FP : Dassault Systemes 3Q Non-IFRS Sales, EPS beat; Raises EPS Target
- DIA SM : Dia 3Q Adj. Ebitda In Line, Sees Stable 2016 Adj. Ebitda Margin
- GAM SM : Gamesa-Siemens Will Be World-Leader, Martin Tells Expansion
- GBT FP : Guerbet 9m Rev EU568.4m, in Line With Targets
- ILMN US : Illumina, LabCorp Say German Court Issued Preliminary Injunction
- LHA GY : Lufthansa Plane Leasing Rates Won’t Cover Air Berlin Costs: HB
- LUX IM : Luxottica 3Q Adj. Net Sales In Line With Ests., Confirms Outlook
- NEX LN : National Express Says Continues to Deliver Strong Growth
- NHY NO : Norsk Hydro Underlying Ebit Beats; Maintains Global Demand View
- NOVN VX : Novartis 3Q Core EPS Beats, Net Sales in Line; Keeps FY Outlook ,Novartis 3Q Sales of Entresto, Cosentyx Slightly Below Estimates
- NOVN VX : Novartis CEO Says There’s Nothing to Disclose on Roche Stake
- ORA FP : Orange 3Q Revenue, Ebitda In Line With Ests.; Keeps Outlook
- RAND NA : Randstad Reports Resilient Trends in 3Q; Revenue Beats Estimate
- SAF FP : Safran 3Q Sales EU3.99b; 2016 Income Forecast Confirmed
- SAF FP : Safran CEO Sees ‘No Big Change for Europe’ on Rockwell-B/E Deal
- SESL FP : Store Electronic 3Q Revenue Climbs 38%; Repeats FY Outlook
- SHP LN : Shire Loses Kyle Bass Challenge to Patent Claims on Gattex
- SYNN VX : Syngenta: ChemChina Regulatory Process Extending Into 1Q 2017
- SYNN VX : Syngenta Sees Improved LatAm Performance in 4Q, Confirms Goals
- HO FP : France Wants Alstom to Buy Thales Signalling Unit: BFMTV
- TODS IM : Tod’s 3Q Sales in Line, Says Confident on Performance
- TIE1V FH : Tieto 3Q Sales, Ebit Miss Estimates, Keeps FY Outlook
- WTB LN : Whitbread 1H Adj. Pretax Beats Estimates