Weekly Performance
Dow +0.64% S&P +0.72% Nasdaq +0.79% Russell +1.45% Mexico +0.58% brazil +3.43% EuroStoxx -0.22% FTSE +1,06% CAC -0.19% Dax +0.02% Ibex -0.39% MIB -0.31% SMI +0.36%Nikkei -0.09% Hang Seng +1.84% CSI +1.91%
US stock markets commenced the week testing more than one month lows in most cases. The S&P found support just above the 100-day moving average on Tuesday. As Washington looked to put the controversy surrounding the President and his reaction to Charlottesville in the rear view mirror, rekindled hopes for genuine tax reform along with thin summer trading conditions were widely cited as fostering the turnaround. A host of late season retail earnings reports surpassed expectations which provided a boost to investor sentiment. The Russel 2000 led the way higher as investors placed bets small cap US centric businesses would get the most benefit from tax relief. For the week, the DJIA gained 0.7%, the S&P500 added 0.7%, and the Nasdaq rose 0.8%.
Macro :
- U.S. Stocks Rally on Yellen’s Speech; Dow Higher, Dollar Drops
- Mnuchin Says Continuing to Revisit 2017 Target for Tax Overhaul
- S&P 500 Underpeformance Over Emerging Markets Tests Key Level
- French Fin. Min. Affirms Aim With Germany to Tax Internet Cos.
Keep an eye on :
- A2A IM : A2A CEO Sees Partnerships in North Italy, Not Acquisitions: Sole
- AB1 GY : Niki Lauda Interested in Buying Back His Former Airline: Kronen
- AZN LN : AstraZeneca Plans Increase in U.K. Investment, Telegraph Says
- BAYN GY : J&J, Bayer’s Xarelto Given With Aspirin Cuts Heart Disease Risk
- BLT LN : BHP Is Said to Mull 25% Stake Sale in Canada Potash Mine: Rtrs
- DMRE GY : Demire Seeks to Double Real Estate Portfolio: Boersen-Zeitung
- EIM IN : Eicher Motors’ Royal Enfield Starts Production at 3rd Plant
- EOAN GY : Turkey’s Sabanci, Germany’s E.ON Spin Off Energy Unit Enerjisa
- G IM : Generali to sell Portugal unit in October, has at least three suitors ( Liberty, Caravela and Zurich Insurance Group AG, Allianz )
- GOOG US : EU Is Said to Be Probing Google’s Flight, Hotel Services: Times
- GOOG US : Google Is Said to Be Issuing Refunds Over Fake Web Traffic: WSJ
- HAV FP : Havas Abandons FY Organic Growth Forecast; 1H Net Declines
- HAV FP : Vivendi And Havas Deal Closing Should Take Place Early October
- HTZ US : Weakness attributed to Xtract Research report that suggests Hertz's refinancing plan may be in violation of debt covenants, could lead to default (-7.87% with 3 times average daily volume)
- IMG LN : Canyon Bridge Is Said to Prepare Formal Bid for Imagination: Sky - http://bit.ly/2we5VHC
- KPN NA : Fox-IT, the Dutch cybersecurity company, is being eyed by telco KPN - De Telegraaf
- NAS NO : Norwegian May Move New Long-Haul Flights From Sweden Due to Tax
- NOVN VX ; Novartis’s Ilaris Cuts Heart Risk by Up to 15% in Cantos Study
- NOVOB DC : Novo’s Victoza Approved in US to Cut CV Risk in Type 2 Diabetes
- SNE US : Sony, Japan Cos. to Invest 50bn Yen in Calif. Incubator: Nikkei
- TUI1 GY : TUI Considers Expanding Cruise Operations With More Ships
- VIV FP : Vivendi And Havas Deal Closing Should Take Place Early October
- VOE GY : Voestalpine Expects to Make Up for Texas Plant Production Halt
- VOLVB SS : Volvo Cars May Buy Engines From Third Parties: Manager Magazin