Dow +0.82% S&P +0.69% Nasdaq +0.70% Russell +0.50%
US Market closed again higher. Bullish API data & Greece news. WTI crude jumped 1.9% ($49.56), ending its day at the best level of 2016. Energy (+1.5%) and materials (+1.2%) led heavily-weighted financials (+1.0%) and technology (+0.7%). Conversely, countercyclical utilities (-0.3%) ended with the only loss. St. Louis Fed President and FOMC voter James Bullard commented last night that labor market strength appears to support more interest rate hikes. However, President Bullard did also say that a June or July hike is not set in stone. Volume were still below average at 891mil shares. US After Hours Earnings movers : LGF +13.8%, PVH +6.6%, CPRT +5.2%, WSM +3.6%, TLYS +3.5%, HPQ +1.1%, TDW -19.8%, PSTG -15.4%, NTAP -6.9%, PLKI -5.3%, BLOX -2%, GES -1.8%. CEMP +5.6% on Phase2, WBMD-4.8% on 300m CB. Asian trading mix today. G7 leaders' summit has garnered some headlines though expectations remain low it will produce a coordinated response to lagging growth. Japan Prime Minister Abe is expected to make his case for increased fiscal spending, but is likely to again encounter resistance. The latest Reuters Tankan offered few encouraging signs for Japanese growth, with manufacturing sentiment falling to a three-year low. Greater Chinese markets are underperforming the region in a quiet news day. The yuan midpoint was set higher after Wednesday’s significantly lower fix. The yuan has been the subject of discussion in recent days after a WSJ article highlighted Beijing’s policy flip-flop in favor of currency stability. FX markets have been noticeably volatile with the main focus centering on a spike lower in dollar-yen. Oil traded above $50, first time since last Nov. Nikkei Reverse Gains into the close on no specific news.
Nikkei +0.1% Hang Seng-0.26% CSI -0.84% Shanghai -0.94%
Eur$ 1.1186 CNH 6.5599 CNY 6.5573 JPY 109.73 GBP 1.4714 CHF 0.9887 RUB 65.2294 WTI $49.86 (+0.61%)
S&P-0.10% EuroStoxx-0.33% Dax -0.23% SMI -0.15%
Macro :
- Hedge Funds May Lose Quarter of Assets, Blackstone’s James Says
- China Accuses U.S. of Protectionism Over Steel Decision
- Greece Plans to Limit Cash Transactions to EU500: Kathimerini
- French Cour Des Comptes Contests Extend of 2015 Deficit Decline
Keep an eye on :
- AIR FP : Airbus Helicopters to Reveal X3 Successor, Flight Magazine Says
- ALO FP : Alstom Outlook to Stable From Negative by S&P; Rating Affirmed
- BVI FP : Bureau Veritas Appoints Nicolas Tissot Chief Financial Officer
- COL SM : Colonial to Make Investments For More Than EU400M, Raise Capital ( €265mil cap increase )
- CRTO US : Criteo to See ‘Only Modest Impact’ From Loss of FBX: Evercore
- EDF FP : French Nuclear Watchdog Says Industry Challenges ‘Unprecedented’
- ENGI FP : French raise doubt about future of Victoria's Hazelwood coal plant
- LEY FP : Faiveley Sees Sales, Adj. Op. Profit Rising in 2016-17
- FCC SM : FCC to Make Bid for All of Cementos Portland at EU6 Per Share
- FIA1S FH : Finnair Appealing Even as Potential M&A Delayed, HSBC Says
- LUMI SS : Lundin Mining Approached by Investors Regarding Tenke: DI
- MUV2 GY : Munich Re Gets Double Upgrade as Yield Trumps Earnings: Goldman
- NN NA : NN Group 1Q Operating Result Stable, Net Result Declines
- NUM FP : SFR Completes Purchase of Altice Media Group France
- PHIA NA : Philips possible prey for future takeover, former managers say - NRC Handelsblad
- POP SM : Popular Approves Capital Increase For EU2.51 Billion
- PST IM : Italy Plans to Sell 29.7% Poste Italiane Stake on Market
- RCS IM : RCS shares rise on market chatter of possible third bidder - Il Sole 24 Ore, Italmobiliare May Rival Cairo, Bonomi-Led Group W/ RCS Bid: Sole
- RTN LN : Restaurant Group Shares Climb Suddenly Into Close of Trading
- SAN FP : Sanofi Wins FDA Panel’s Backing for LixiLan to Treat Diabetes
- SGO FP : Saint-Gobain to Cancel 11m Shares on May 30
- SoftBank (9984) : SoftBank Leads Nikkei Decliners After SEC Starts Alibaba Probe
- Takata (7312) : +21% on potential intereste from KKR
- TEC FP : Technip Awarded Contract to Provide Basic Engineering and Proprietary Equipment for Furnace Project in Saudi Arabia
- UBI FP : Ubisoft Said to Seek White Knight to Fend Off Vivendi Advances
- VAC FP : Pierre Et Vacances-Center Parcs 1H Rev. EU585.5m Vs EU650.7m Y/y
- VIV FP : Ubisoft Said to Seek White Knight to Fend Off Vivendi Advances
- WBMD US : WebMD Health Falls 3.7% Post-Mkt on $300m Convertible Deal