Dow-1.92% S&P-2.57% Nasdaq-3.04% Russell-2.87% VIX @ 27.63 +16.98%
US Market closed lower. Glencore was on heavily pressure in Europe after an investec report and a 8.8% year-over-year decline in China's industrial profits, a disappointing 1.4% monthly decline in pending U.S. home sales for August, and a declaration from International Monetary Fund (IMF) head Christine Lagarde that the IMF's forecasts for global growth of 3.3% this year and 3.8% next year are no longer realistic due principally to the weakness in emerging markets. allegation from famed investor Carl Icahn that there could be another financial catastrophe looming with the persistence of the Federal Reserve's policy rate near the zero bound, cast a pall on investor sentiment that hung over the capital markets all day. oil (-2.7% to $44.47 per barrel) and other commodity prices got knocked back noticeably, high-yield bond prices continued to weaken, cyclical sectors like the energy (-3.6%), materials (-3.2%), and consumer discretionary (-2.9%) sectors were among the hardest hit areas, and Treasuries rallied in a flight-to-safety bid. VIX surge 17% to 27.63. All tech names were down even Apple after announcing record sell on iPhone 6s. Valeant (VRX) -16.5% on congressional probe into drug prices. Cheniere Energy: Carl Icahn raises active stake to 11.43% from 9.59% AMD Said to Have Held Stalled Investment Talks With Silver Lake, US After Hours LNG +1.2%, AGN +2.0%, CMTL -14.2%, SNX -2.7% following earnings/guidance, YHOO +4.0% (provided update on Alibaba (BABA) stake spin off; co continues to expect completion in Q4; spin-off no longer conditioned upon receipt of a favorable ruling from the IRS)...Asian Equity markets are trackig US & Europe performance ( Glencore & Clinton price reform in biotech weighting)...Evans remarked the Fed should do some three 25bp moves by the end of next year, and moderate voter Williams reiterated liftoff would still be appropriate this year. Williams did acknowledge that inflation is still below preferred levels, though unemployment would fall below 5% later this year and remain there through 2016.
Nikkei -3.87% Hang Seng -3.25% Shanghai -1.96%
Eur$1.1268 CNY 6.3643 JPY 119.45 GBP 1.5175 EURCHF 1.0947 BRL 4.1096 RUB$ 66.1451 WTI $$44.45
S&P -0.33% EuroStoxx -1.09% Dax -0.76% SMI -1.12%
Macro :
- Qatar Fund Loses $5.9 Billion on Holdings in VW, Glencore
- With Glencore, Commodity Rout Beginning to Look Like a Crisis
- Wilbur Ross Ready to Invest More in Greek Banks: Handelsblatt
Keep an eye on:
- EN FP : Bouygues Gets EU285M Qatar Contract to Build Sewage Tunnels
- EXO IM : PartnerRe Sees Exor Deal Closing in 1Q16
- GLEN LN : GLNCY closed @ $2.07- 27.9% in the US @ 68.227 vs 68.62 in ldn
- NESN VX : Nestle, Hershey, Mars Sued in Human Rights Abuse Cases
- SUN SW : Renova’s Tiwel Exempted From Making Further Sulzer Tender Offers
- VOW3 GY : VW Committee of Holders, Labor Reps to Meet Wed. on Crisis: DJ
- VOW3 GY : Volkswagen Orders Drop in Japan, Nikkei Reports