Dow -0.18% S&P -0.14% Nasdaq -0.11% Russell +0.22%
US Market closed slightly lower ahead of Jackson hole tomorrow. five sectors still ended in the green. The telecom services (+0.4%) and materials (+0.5%) sectors settled in front of the pack while consumer staples (-0.4%), consumer discretionary (-0.4%) and health care (-0.8%) underperformed. Volume were below average at 697mil shares. US After Hours PSTG +13%, EPAY +8.5%, ADSK +2% following earnings/guidance, JMU +15% on P2P update/stake news... GME -8%, SPLK -7%, ULTA -2% following earnings/guidance. Asian equity markets are trading mixed going into the key risk event of the week - Fed Chair Yellen's testimony at the Jackson Hole symposium scheduled for 10amET on Friday. Her comments will follow a revised reading of US Q2 GDP expected to show a slightly softer rate of growth and should continue to walk the tightrope of keeping more tightening on the table before the end of the year with an eye on recovery in employment, persisting soft inflation, and global uncertainty risks. Ahead of Yellen comments, Fed vice chair Fischer said the policy board is considering the risks of overheating in the economy - presumably with rates staying too low for too long - while San Francisco Fed's Williams noted there was no threat of high inflation and the central bank will keep the economy "running hot". Two of China's top 5 banks - China Construction and BoCom - reported their results, and both saw a notable drop-off in the rate of growth of non-performing loans. Recall overnight PBoC had also reportedly advised bank execs to lend in installments and spread out the loan terms as part of closer liquidity management.
Nikkei -0.86% Hang Seng +0.50% CSI +0.40% Shanghai +0.44%
Eur$ 1.1290 CNH 6.6792 CNY 6.6656 JPY 100.46 GBP 1.3206 CHF 0.9665 RUB 64.6301 WTI$47.25 (-0.27%)
S&P +0.02% EuroStoxx -0.27% Dax -0.15% SMI -0.25%
Macro :
- Another Zika Funding Crisis ‘Looming,’ NIH’s Fauci Says
- Hedge Funds Suddenly Winning on China’s Most Dangerous Short
- Fed’s Kaplan Says ‘Jury Is Out’ on Japan’s Negative Rates
- Hedge fund bets against big dividends
Keep an eye on :
- ATC NA : EU May Let Publishers Charge Search Engines for Using News: FT
- BARC LN : Barclays Near Sale of Italian Retail, 2 Other Units, WSJ Says
- DECB BB : Deceuninck 1H Net Rises to EU13 Million Vs EU4.75m Year Earlier
- EDF FP : Hinkley alternatives offer huge saving, claims think-tank - FT
- ELI BB : Elia System Operator 1H EPS EU1.42 vs EU1.55 Year Earlier
- ERICB SS : Lundberg Disappointed in Ericsson Development: SVD
- TAM FP : Etam 1H Net Falls to EU6.7m as Currency Damps Rev., Margins
- FER SM : Ferrovial Closer to Winning Bid for Peru’s GSP: Expansion
- GE US : GE to Double R&D Capacities Near Munich by 2021: Handelsblatt
- GTO NA : Gemalto 1H Adj. Gross Profit EU586.3m Vs EU574m Y/y
- HSBA LN : HSBC Bought Back 2.46m Shares at Avg 541.67 Pence Each Aug. 25
- JOY US : Joy Shareholders Sue to Block Komatsu America Merger
- KHC US : Kraft Heinz ‘Could Be on the Prowl Again’ for M&A: Susquehanna
- MMB FP : EU May Let Publishers Charge Search Engines for Using News: FT
- LBTYA US : Liberty Media Said in Lead to Acquire Formula One: Sky
- LN US : Line Will Use Part of $1.3b IPO Proceeds on Acquisitions: CEO
- MS IM : Mediaset Says Vivendi Statement Is Groundless
- 1913 HK : PREVIEW PRADA: 1H Revenue Seen Falling for First Time on Record
- RE BB : RealDolmen Sees Lower Adj. Ebit Margins in Fiscal 1H
- RIO LN : Rio Tinto severs ties with Credit Suisse; hires Deutsche Bank as joint corporate broker
- SAF FP : Gemalto Interested in Acquiring Morpho, Offers Due Next Month
- SFR FP : EU May Let Publishers Charge Search Engines for Using News: FT
- TIT IM : Hutchison’s Italy Wireless Deal Said to Win EU Approval Soon
- TUI LN : TUI Said Set to Buy Two New Ships for Hapag-Lloyd Cruises
- VIV FP : Vivendi 2Q Revenue Misses Est,; First Mediaset Hearing Feb. 27
- VIV FP : Mediaset Says Vivendi Statement Is Groundless
- VIV FP : Vivendi Plans EU300m Cost Cuts at Canal+; UMG 1H Rev. Up
- VOW3 GY : VW to Spend at Least $1.2b to Compensate U.S. Dealers: Reuters
- ZAL GY : Zalando Unit to Expand Own Brands in Next Yrs: Handelsblatt