US Market Closed lower, S&P and Nasdaq have broken their 50d MA, all six cyclical sectors ended in-line or behind the S&P 500 with high-beta areas like biotechnology and chipmakers finishing among the laggards, AAPL Tumbled 3.8%, closing below its 50d MA (1st time since 23/04)....VIX @ 15.64 +17.9% ...volume were above average @720m shares...After hours PRGS +7.8%, NKE +6.7%, DMND +4.0%, MU +3.7%, ATNY +0.1%, POWL -10.0% following earnings/guidance...today Q3 GDP to be released ( consensus 4.6%) & Michigan sent. ( cons.85)...Asian bourses are tracking the outsized selloff in US markets - the largest in nearly 2 months - with disappointing Durable Goods orders weighing on sentiment ahead of tomorrow's US final GDP release...- CPI figures out of Japan were in focus, sliding to multi-month lows on core basis and potentially adding to the case for more BOJ help down the line...the health minister who is the head of pension fund GPIF said it would be better to draft a "good law" than doing something "hasty", but also noted some changes without new legislation may be possible...Conference Board put out China August Leading Economic Index at a 3-month low rate of growth. Resident economist said the "monthly growth slowed markedly in August as real estate activity weakened and consumer expectations fell again." Despite expectations of some targeted stimulus policy response by Beijing, CB noted it does not expect a "sustained pick up in Chinese economy any time soon."...Nikkei -0.87% Hans Seng -0.47% Shanghai -0.26%
Eur$1.2739 S&P +0.11% EuroStoxx +0.19% FTSE +0.04% DAX -0.05% SMI+0.10%
Macro
- Schaeuble Wants German States to Handle Income Tax: Handelsblatt
Keep an eye on :
- ADS GY : NKE +6.7% after hours after good numbers
- AF FP : Air France Strike Could Cost Carrier EU250m: Les Echos
- AIR FP : Airbus in talks for potential sales, JVs of noncore border security, defense electronics units - Reuters
- BNS IM : Beni Stabili to Sell 353.1m Shrs at EU0.424 Apiece
- DOW US : Dow Chemical reaches out to buyers to sell epoxy and chlorine businesses in one package
- EDF FP : Austria May Try to Block EDF’s U.K. Reactor Plan: Times
- ILD FP : Iliad Unlikely to Offer Sufficient Price for T-Mobile: Pac Crest
- JAZ SM : Jazztel funds up stakes in push for higher offer - Expansion
- SBRY LN : U.K.’s Sainsbury’s to Match Asda Prices Only, No Longer Tesco’s
- STL NO : Statoil to Delay Alberta Oil Sands Project at Least 3 Yrs
- FP FP : Total May Sell Stake in Tahiti Field in Gulf of Mexico: Reuters
- TIT IM : Telecom Italia Receives Fintech Proposal for Argentina Delay
- YAR NO : Yara Designated CEO Brandtzaeg Withdraws, Stays at Norsk Hydro
- VOLVB SS : Volvo Says Renault Trucks Will Increase Mkt Share in 2015: DI