Dow -0.13% S&P-0.19% Nasdaq+0.06% Russell -0.56%
US Market start the week on weak note. energy sector fell to the bottom of the leaderboard at the start and remained there throughout the day. The daylong retreat caused the sector to narrow its October gain to 9.0% while crude oil fell 1.4% to $43.98/bbl. heavily-weighted financials (-0.3%) and technology (-0.3%) underperformed while the consumer discretionary sector (+0.8%) displayed relative strength thanks to a rebound in retail names. On the downside, the technology sector kept the market under pressure after spiking more than 3.0% on Friday. Volume were below average @ 850mil shares. Asian equity markets are decidedly negative, with regional risk-off flows in part driven by tensions in the South China Sea. Against a warning by the Chinese foreign ministry, US guided missile destroyer USS Lassen has reportedly approached the 12-mile territorial limit around Subi Reef in the Spratly Islands archipelago that Beijing contends to control. Obama administration however considers Beijing's "excessive claim" of sovereignty in those waters, and the US naval officials noted that it would one of several passages. China Foreign Ministry has since declared that "US warship has illegally entered waters near China island." Investors await the findings of China's 13th plenum that could contain an update on growth projections for 2016-2020 five year plan. Ahead of Friday's BOJ policy statement and economic outlook projections for GDP and CPI, a financial press report citing sources stated the BOJ is open to possibilities but more QE is not a given.
Nikkei -0.90% Hang Seng -0.19% Shanghai +0.14%
Eur$ 1.1050 CNY 6.3529 GBP 1.5345 RUB$63.47 WTI $43.49 (-1.11%)
S&P -0.06% EuroStoxx -0.29% Dax -0.35% SMI -0.56%
Macro :
- ECB’s Praet Sees No Taboos in Effort to Lift Inflation: AFP
- Fed Said to Strive for ‘Clear Signal’ on Interest Rates: WSJ
- Greece Creditors Refuse to Pay Next Loan Tranche: Sueddeutsche Z
Keep an eye on :
- AI FP : Air Liquide 3Q Rev. in Line With Estimates; Repeats 2015 Outlook
- AIXA GY : Aixtron 3Q Sales, Ebit Beat Ests.; Keeps Outlook
- AKZA NA : Akzo Nobel Sees 2016-2018 ROS of 9%-11%, ROI of 13%-16.5%
- ALFA SS : Alfa Laval Says Large Process Technology Orders ‘Likely’ in 4Q
- BAS GY : BASF 3Q Sales, Ebit Ex Items Miss Estimate; Cuts 2015 Outlook
- BP/ LN : BP Targets Balanced Cash Flows by 2017 at $60/bbl; Supports Div.
- 1COV GY : Covestro 3Q Adj. Ebitda Rises 45% y/y to EU471m
- DBK GY : DB Said to Explore Scaling Back Italian Retail Business: Reuters
- DIA SM : Dia 3Q Sales, Adj. Ebitda In Line With Ests.
- EDCL LI : Eurasia Drilling Sees 2016 Rev. $1.7b-$1.8b; Plans No 2015 Div.
- EGPW IM : Enel Plans to Buy Rest of Enel Green Power: El Confidencial
- GAS SM : Gas Natural Rejects Any Merger With Repsol, Expansion Reports
- GEBN VX : Geberit 3Q Results Below Consensus on Weaker Sales: Berenberg
- IBE SM : Spanish Utilities Have Little Risk in Upcoming Election: Goldman
- KPN NA : KPN 3Q Sales Match, Adj. Ebitda Beats Ests.; Keeps Outlook
- NOVN VX : Novartis 3Q Core Oper Income in Line, Sales Miss; Keeps Forecast
- TEC FP : Technip Wins Order for Brazil Libra Field Worth EU100m-EU250m
- TESB BB : Tessenderlo Raises Profit Forecast; 3Q Adj. Ebitda Rises 23%