Dow-1.38% S&P-1.09% Nasdaq-2.18% Russell-1.50%
US Market closed lower after heavy selling in response to the Federal Open Market Committee's policy statement for January. Oil rebound was not enough to push market higher, it just helped on the first few hours but FED was stronger today. WTI crude managed to attract buyers despite the commodity showing larger than expected builds in both the EIA and API weekly inventories. This bullish activity in the face of poor data and increasing chatter regarding production cut agreements between OPEC and non-OPEC states may have been enough to signal a bottom to some investors, or at the very least a spot to cover short positions. WTI crude ended its pit session higher by 2.5% at $32.22/bbl. the Federal Open Market Committee demonstrated less dovish undertones than market participants may have been expecting. The statement partly acknowledged that growth had slowed and that inflation is expected to remain low in the near-term. However, the Fed's belief that inflation is expected to rise to 2.0% over the medium term in the face of declines in energy and import prices creates doubt as to whether the central bank will revise its glide path. Stocks ticked up immediately after the release, but followed that move with a slide to new lows. AAPL-6.57% GOOGL -2.21% FB-3%. IBB -3.2%. Volume were above 1bil shares. US After Hours After Hours Summary: FB -12.2%, CAVM +10.8%, TER +10.3%, MSTR +6.8%, MLNX +6.6%, PYPL +5.0%, NOW -15.2%, EBAY -12.2%, JNPR -7.4%. Asian indices are mixed as investors digest policy statement tweaks by the FOMC and prepare for tomorrow's Bank of Japan announcement.In Asian session, USD/JPY was rangebound in 50pip band below 119, EUR/USD traded in a 25pip range above 1.0880, and AUD/USD was supported above the 0.70 level. PM Abe's advisor Honda said he would conduct further monetary easing and also postpone sales tax hike in 2017 amid slowdown in global economy. PM Abe also remarked that the govt is working with the BOJ to end deflation. In China, state press People's Daily reiterated the economy will not experience a hard landing in spite of recent comments to the contrary from famed investor George Soros. Samsung Electronics traded down nearly 3% as Net profits in Q4 were well below expectations.
Nikkei -0.71% Hnag Seng -0.20% Shanghai -2.09%
Eur 1.0879 CNH 6.6128 CNY 6.5781 JPY 118.62 GBP 1.4289 RUB 78.0590 WTI 31.76 -1.64%
SP+0.16% EuroStoxx-0.82% Dax+0.54% SMI-0.52%
Macro :
- Jana Is Short Royal Mail, Dixons Carphone, InterContinental
- Germany Targets 129 Banks Over Dividend Stripping: Handelsblatt
- $1 Trillion China Money Exodus Isn’t About Capital Controls
Keep an eye on :
- AAL LN : Anglo American Mulls Sale of Brazil Nickel Assets: Globe & Mail
- AC FP : AccorHotels in Talks to Sell ~EU504m Portfolio to New Franchisee
- AIR FP : Iran Could Order 127 Airbus Planes: Liberation
- ALT FP : Altran Group 4Q Sales Rise 10%
- AUTN SW : Autoneum in Talks With Peugeot, Renault on Iran: Handelszeitung
- BMPS IM : Italy explores three-way deal for Monte dei Paschi http://reut.rs/1nojdv5
- BMPS IM : UBI Banca CEO asks for guarantees from Italian government in exchange for merger with BMPS
- BPI PL : BPI CEO Ulrich Says Unitel’s Offer Wasn’t Good Solution for BPI
- DBK GY : Deutsche Bank 4Q Net Loss EU2.1b; Revenue EU6.64b, 4Q CBS Origination Revenue Down 45% y/y
- G IM : Generali CEO Says Decision Unrelated to Investor Conflict
- HOME LN : Sainsbury: QIA Hasn’t Reached Opinion on Home Retail
- ILD FP : TalkTalk might have attracted interest from Iliad
- LONN VX : Lonza could acquire in existing sectors Aargauer Zeitung
- MC FP : Chanel CEO Chiquet to Leave Over Strategic Differences: Echos
- MBTN SW : Meyer Burger 2015 Net Sales, New Orders Rise
- ORA FP : Orange Says No Plans to Pitch Bouygues Deal to Gov’t This Week
- UG FP : Peugeot, Iran Khodro to Set Up Joint Company: Figaro
- REP SM : Repsol to Book Impairment of About EU2.9b in 2015
- ROG VX : Roche 2015 Sales In Line With Ests.; Sees Rev., Core EPS Growth , 4Q Sales CHF12.6b, Estimate CHF12.2b
- RWE GY : RWE German Head Arndt Neuhaus to Leave: Handelsblatt
- SBRY LN : Sainsbury: QIA Hasn’t Reached Opinion on Home Retail (Earlier)
- SPOTIFY IPO : Spotify Said Seeking More Than $500 Million in Convertible Debt
- SZG GY : Salzgitter Pretax Profit Result Misses Analyst Estimates
- TALK LN : TalkTalk might have attracted interest from Iliad
- TEL2 SS: Tele2 4Q Ebitda Beats Estimates; Dividend Raised 10%
- FR FP : Valeo CEO: China Market Met Growth Forecast in 2015: L’Opinion
- VIV FP : Want to rebuz Bein to save Canal plus - Liberation http://bit.ly/1WOZGjN
- VOLVB SS : Volvo CEO Says No Reason to Speculate on Division Sale: SVD