Dow +2.11% S&P+2.39% Nasdaq +2.89% Russell+1.99%
US Market Closed Sharply higher, after better than expected ISM Index, Rally was supported by yesterday laggards, financials and also heavy tech. WTI finished higher by 1.7% @ $34.39/bbl. large-cap names like Facebook (FB 109.82, +2.90), Alphabet (GOOGL 742.17, +24.95), and Oracle (ORCL 37.99, +1.21) climbed between 2.7% and 3.5%. Meanwhile, Dow component Apple (AAPL 100.53, +3.84) surged 4.0%. Utilities (-0.5%), consumer staples (+1.0%), and telecom services (+1.3%) finished behind the broader market. Adding to today's optimistic mood were dovish remarks from New York Fed President and FOMC voting member William Dudley, who acknowledged that the balance of risks to growth and inflation outlooks for the U.S. might be starting to tilt slightly to the downside. Trading volume were in line with 1.09bil shares traded. US After Hours EVDY +29%, GWRE +10%, CHUY +6.7%, DAR +5% higher on earnings/guidance and ZNGA +8.3% on CEO news.... ASNA -5%, VEEV -1% lower on earnings/guidance. Asian equity markets are up sharply across the board, as bullish momentum from Wall St is reverberating overseas. The case for an impending recession has been punctured by the strong US ISM report, while investors also cheered dovish rhetoric from Fed's Dudley and ECB's Draghi. Upside momentum appears to be self-sustaining, as "the usual suspects" headwinds - namely lower oil prices, China growth worries, and weaker Yuan - are being discounted. Moody's warned on China, lowering its outlook to Negative from Stable, while affirming AA3 rating. Among the key risks, Moody's noted ongoing weakening of fiscal metrics as evidenced by rising debt, continued falls in reserves due to capital outflows, and also uncertainty over govt's ability to address the growing imbalances. Separately, Fitch noted that the latest RRR cut in China could lead to bank risks through exacerbated extension of questionable credit. BOJ Gov Kuroda reiterated that monetary easing has had intended effect and underlying inflation trends are improving, affirming H12017 as the target for 2% inflation.
Nikkei +4.11% Hang Seng +3.20% Shanghai +4.32%
Eur$ 1.0850 CNH 6.5524 CNY 6.5517 GBP 1.3974 JPY 114.29 CHF 0.9992 RUB$ 73.29 WTI$ 34.22
S&P+0.18% EuroStoxx +0.97% Dax +1.06% SMI +0.89%
Macro
- China Outlook to Negative From Stable by Moody’s
- Pershing Square Said to Lose 19.9% in First 2 Mos. of 2016: Rtrs
Keep an eye on :
- AF FP : Air France Staff to Receive Bonus Payment, Telegraaf Says
- AIR FP : Airbus Unlikely to Pursue A380 Freighter If Boeing Ends 747-8
- BIM FP : Biomerieux Net Misses Estimates, Hurt by bioTheranostics Sale
- BMSA GY : Braas Monier 4Q Sales Rise 5%; Sees Profitable Growth in 2016
- BVI FP : Bureau Veritas in Partnership With Dassault Systemes: Echos
- CABK SM : CaixaBank Said to Be in Talks With Dos Santos Over BPI Stake
- CBK GY : Commerzbank Narrows CEO Search to 4 Candidates: Handelsblatt
- CRBN NA : Corbion 2015 Revenue Beats, Sees EU75m Extra Shareholder Return
- DAI GY : Daimler Says 2015 CV Sales in Southeast Asia About 40,000 Units
- DAI GY : Daimler to Decide on Plant in Europe This Year: Automobilwoche
- DRTY FP : Darty Confirms Received 125p/Share Offer From Steinhoff
- DB1 GY : Deutsche Boerse, LSE Merger Logic ‘Inherent,’ Kengeter Tells BZ
- FAGR BB : Fagron Concludes Talks With Investors for Plan to Raise EU220m
- KNIN VX : Kuehne & Nagel 2015 Net CHF679M vs CHF644m
- LSE LN : LSE, Deutsche Boerse Said to Do ‘Street Sweep’ to Hinder Rivals
- LUX IM : Luxottica Sees 2016 Sales Growth of 5%-6% at Constant FX
- MEDAA SS : Meda Purchase Amount Doesn’t Meet Hldr Approval Threshold: Mylan
- MOR GY : Morphosys 2015 Ebit Beats Estimates, Forecasts 2016 Ebit Loss
- RNO FP : Renault-Nissan Mulls Buying Stake in HERE Mapping Unit: Reuters
- RNO FP : Renault CEO Says Iran Market Could Reach 2M Cars/Yr
- RWE GY : RWE to Name Markus Krebber CFO, Handelsblatt Reports
- SAN FP : Sanofi’s Potential Sale of European Generics Said to Face Delay