Dow-2.84% S&P-3.01% Nasdaq-2.94% Russell-2.83% VIX 31.78 +10.08%
US Market closed much lower for its first day of the month. Asian & European bad performance after disappointing manufacturing Chinese data didn't help the sentiment. Financials, One of top weighted sector lost 3.5%, Energy lost 3.7% as crude retreat to $45.41% (-7.7%) after soaring nearly 30% during the previous three sessions. late selling was met with new highs (33.82) in the CBOE Volatility Index, which climbed into the 32.0% area as investors piled into downside protection. Volume were again above average at 1bil. shares. the 10-yr yield fell five basis points to 2.17%. Investors are waiting for employments reports on wed. & thu. (02/09 : ADP, ISM NY & Factory orders ; 03/09 : Initial jobless claims). US After Hours HRB +8.4%, BOBE +2.2% on earnings, AMBA ticking lower following earnings; WMGI +10% on Bone Graft premarket approval. Asian market is in an another volatile session,Shanghai opened down 4.5%, thean rallied to trade in positive territory, and back in -ve zone now -0.5%...S&P future is up 90bps...no big news today just rumors of more stimulus from PBoC is fueling rally. Local press reports noted a number of mainland brokerages agreed to comply with govt requests to provide additional funds to CSFC for market intervention. In addition, the State Council has reportedly set up a CNY60B fund to support small and medium-sized enterprises (SMEs). Furthermore, earlier US financial press report speculated that China has imposed controls to prevent large capital outflows and also intensify crackdown on underground banks. In FX, PBoC continues to scale back its devaluation, setting Yuan fix sharply higher for the 4th straight day. BOJ Dep Gov Nakaso said stable finance and prices contribute to potential growth, as central bank's JGB purchases have not impacted liquidity. IMF's Lagarde warned that recent market turmoil underlines spillover risks, as all economies are impacted by rebalancing China and slowing Japan.
Nikkei -0.74% Hang Seng-0.61% Shanghai -1%%
Eur$1.1286 CNY6.3651 JPY119.95 GBP1.5308 EURCHF1.0850 RUB$66.60 WTI$44.32 (-2.40%)
S&P +0.76% EuroStoxx+0.50& Dax+0.44% SMI+0.21%
Macro :
- VStoxx, VIX Show Curve Dislocation, Buy Futures Spread: SocGen
- Finland Seeks to Raise EU1.6b From State-Asset Sales: Reuters
- New Whale Seen Moving Tokyo Markets as Japan Post Sells Bonds
- PBOC Seen Quitting Yuan Support by End-2015 as Reserves Shrink
- Greece Pulse election poll find Syriza party lead over New Democracy Party at 1%
Keep an eye on :
- ABG/P SM : Abengoa shareholders comfortable up to EUR 650m raise but launch could slip to October
- ADL GY : Adler Sees Good Chances for More Acquisitions: Boersen-Zeitung
- ALO FP : GE Said to Sell Assets to Ansaldo Energia for EU Deal Approval
- ASC LN : Asos’s CEO Robertson Said to Step Down in Next Months: Sky
- AV/ LN : UK Life Insurers Well-Positioned Ahead of Solvency 2: Bernstein
- EN FP : France Considers Taxing Internet Boxes, Les Echos Says (just denied by Fr. Minister on Smart Phone tax)
- BPTY LN : GVC Says Would Consider Hostile Bwin.Party Bid, Times Reports
- ILD FP : France Considers Taxing Internet Boxes, Les Echos Says (just denied by Fr. Minister on Smart Phone tax)
- LGEN LN : UK Life Insurers Well-Positioned Ahead of Solvency 2: Bernstein
- NOK1V FH : Nokia could be bought out, Alcatel-Lucent deal has made company more attractive takeover target- Kauppalehti
- NOVN VX : Amgen, Novartis to Develop Alzheimer’s, Migraine Drugs
- NUM FP : France Considers Taxing Internet Boxes, Les Echos Says (just denied by Fr. Minister on Smart Phone tax)
- UG FP : VW, Peugeot Ask Russia to Ease Investment Obligation: Kommersant
- QIWI US : QIWI refrains from dividend payments for next few quarters, M&A in view
- SAP GY : SAP Unveils Software for Spark, Open-Source Big Data Sieve
- SIK VX : Swiss Court: Saint Gobain Doesn’t Have to Bid for All of Sika
- UBSN VX : Higher Capital Rules to Impact Swiss Economy, Ermotti Tells FuW
- UCG IM : UniCredit To Air Broad Savings Plan End-2015, Ghizzoni Tells HB
- VIV FP : Vivendi Increases Stake in Dailymotion to 90%: Les Echos