Dow -0.56% S&P -0.84% Nasdaq -0.89% Russell -1.23%
US Market closed lower in low volume with only 735mil shares on NYSE. Growth-sensitive energy (-1.0%), materials (-1.0%), and financials (-1.0%) settled at the bottom of the leaderboard with energy slumping despite an intraday gain in crude oil (+0.2% at $54.01/bbl). Tech -0.9% closed behind the broader mkt. NVDA -6.9% on -ve Citron Report after strong perf. recently. Best Sector: Basic Materials, Worst Sector : Utilities/Industirals. Biggest gainers: COH +2.2%; AGN +1.7%; STZ +0.9% / Biggest losers: NVDA -6.8%; CHK -4.7%; MNK -4.1%. US After Hours FBIO +47% on NEJM article on glioblastoma case study.... NVDA -1.1% continues pull back in after hours. Asia indices mixed with Nikkei225 the biggest loser; Tokyo stocks tracking much stronger Yen on overall USD retreat that followed disappointing US Pending Home sales data in US hours. PBoC board member Fan Gang advocates for implementation of a property and capital gains taxes to ease widening wealth gap. MOFCOM worried about the impact of future Fed rate hikes in their impact on global financial markets. BOJ warns against expecting a big boost to inflation from weaker JPY, though also notes core CPI may still accelerate; Also cautions the Trump rally may fizzle and produce a considerable market adjustment. As speculated, South Korea Finance Ministry lowers 2016 GDP target to 2.6% from 2.8%; Lowers 2017 GDP target to 2.6% from 3.0%; Fin Min Yoo says 2017 fiscal policies may turn more expansionary, while BOK is reported to hold accommodative monetary policy as private spending and construction slowdown overshadow recovery in exports.
Nikkei -1.32% Hang Seng +0.01% CSI +0.03% Shanghai -0.03%
Eur$ 1.0462 CNH 6.9739 CNY 6.9544 JPY 116.36 GBP 1.2252 CHF 1.0253 RUB$ 60.3470 WTI$ 53.84 -0.41%
S&P +0.03% EuroStoxx -0.31% FTSE -0.31% Dax -0.28% SMI -0.25%
Macro :
- China Sees Milder Auto Sales Growth in 2017: Commerce Ministry
- Copper Falls in New York as Dollar Strength Counters China Boost
- British CFOs Brighten Even as Uncertainty Becomes ‘New Normal’
Keep an eye on :
- ABI BB : AB InBev Investor Bevco Buys EU59m of Brewer’s Stock
- AF FP : Air France Sells 49.99% of Servair Unit to gategroup
- AF FP : Air France, Unions Dispute Proposed Productivity Gains: AFP, Seeks About 7.5% Cabin Crew Productivity Gain
- ALIV SS : Takata Says No Decision Made on U.S. Air Bag Settlement
- ATCOA SS : Atlas Copco could be looking to sell Dynapac
- CABK SM : CaixaBank Agress to Sell 20 Hotels to Apollo: El Confidencial
- GATE SW : Air France Sells 49.99% of Servair Unit to gategroup
- GATE SW : Gategroup Sees FY Total Revenue After Servair Deal Above CHF4.4b
- HOF LN : House of Fraser Opens First Store in China, China Daily Says
- LXS GY : U.S. Raises No Objections to Lanxess Takeover of Chemtura: RP
- MCK US : McKesson Cuts 2017 Accretion View for Completed Rexall Deal
- PLT IM : Lactalis formally announces tender offer for remaining Parmalat shares- Press Release : http://bit.ly/2it2ZPV
- PHIA NA : Philips to look for deals in healthtech in 2017-18, head M&A says - http://bit.ly/2hr3Wqa
- ROG VX : Roche’s Kadcyla Is Denied Recommendation by U.K.’s NICE
- SAN FP : FTC Requires Divestitures for Proposed Sanofi, Boehringer Deal
- SDRL NO : Seadrill Gets 3-Year Contract Extension for Jack-Up AOD III
- SIE GY : Siemens and Unions Strike Labor Deal in U.S.: DPA
- UBI IM : *UBI BOARDS TO MEET TODAY ON PURCHASE OF THREE ’GOOD BANKS’: MF
- VIV FP : Liberty Media Said to Plan Formula One Revamp: FT
- WCH GY : Wacker Chemie Shares Among Top Recommendations for 2017: DZ Bank
- WEIR LN : Weir Studies Moving Some Production to U.K. on Weaker Pound: FT