SPX HIT INTRA-DAY RECORD HIGH BUT FAILED TO HOLD. FOMC nothing new, 2/10y yield curve contracted (USYC2Y10 Index fell -3%) so banks drifted. Crude inventory data supportive, but Crude failed to hold $55, energy subgroups ripped (EPS related). Homes higher on Fed and Const Spending data. Steels led miners on US STEEL +7.8% earnings. Airlines acted well on JPM upgrade of AMERICAN AIRLINES. Also Casinos up after solid Oct GGR data. Autos OK on SAAR data (helped sentiment). SemiCaps gave some back as 2 SmallMid names reported and missed. APPLE TODAY a driver. BoE also today, then focus shifts to Nonfarm Friday. 45 of SPX due today, also some big names report out of Europe. Yesterday's volume was 6.9bn, so +14% above 20day average. US After Hours ESIO +31%, LB +10%, CF +4% higher and PI -22%, OCLR -15.5%, FEYE -14%, GPRO -11%, CYH -10%, SYMC -9%, TSLA -5%, FB -2% lower following earnings/guidance/SSS. ASIAN MARKETS – TRADING LOWER, some loss of momentum with indexes tracking a modest decline in S&P 500 futures. THE NIKKEI is little changed in quiet trade. Honda is outperforming as Japanese earnings season rolls on. MAINLAND MARKETS are weaker with the PBoC draining a net CNY140bn via open market operations. Local media continue to note the central bank is unlikely to maintain a loose liquidity stance. Elsewhere, banks are weighing on the ASX with lower rates cited as a headwind.
Nikkei +0.53% Hang Seng -0.13% CSI -0.05% Shanghai -0.40% Shenzen -0.68%
Eur$ 1.1661 CNH 6.5969 CNY 6.5978 JPY 113.85 GBP 1.3284 CHF 0.9986 RUB 58.1552 WTI$ 54.37 +0.13%
S&P -0.20% EuroStoxx -0.30% FTSE -0.33% DAX -0.31% SMI -0.16%
Macro :
- Switzerland October Consumer Confidence -2 vs Est. Zero
- Apple CEO Tells NBC That U.S. Should Reform Tax Code: CNBC
Keep an eye on :
- ABE SM : ACS Is Said to Hire More Banks for Abertis Bid: Expansion
- BOSS GY : Hugo Boss Third Quarter Sales Meet Estimates
- BG US : Bunge Mulls IPO for Brazil Sugar Business, CEO Says: Reuters
- CARLB DC : Carlsberg Third Quarter Revenue 3.0% Below Estimates
- CLLS US : Cellectis Slumps; Therapy Needs More Improvements: Jefferies
- CHTR US : SoftBank Spoke to Charter About Deal in Recent Days: NYP
- CLVS US : Clovis Oncology Third Quarter Rubraca Revenue Misses Estimates
- CSGN SW : Credit Suisse Legal Risks Weigh On Capital Ratio
- CSGN VX : Credit Suisse CEO Says Will Meet Activist Investor RBR Next Week
- DANSKE DC : Danske Bank Boosts Full Year Net Forecast
- DTE GY : SoftBank Agrees 2.65t Yen Loan to Refinance Sprint, Arm Debt
- DRW3 GY : Draegerwerk Sees Full Year Sales In Local Currencies 0% To +3%
- FB US : Facebook Third Quarter Revenue Beats Highest Estimate
- FRA GY : Fraport Earnings Beat Estimates as Outlook for 2017 Confirmed
- FMC GY : Fresenius Medical Third Quarter Revenue 1.1% Below Estimates
- BGC US : General Cable Third Quarter Adjusted EPS 25c --> Prysman, Nexans...
- GPRO US : GoPro 4Q Forecast Misses Ests; 3Q Adj. EPS, Rev. Beat
- LHN SW : Holcim Rallies as Loma Negra IPO Stokes Argentine Cement Stocks
- LAD LN : Ladbrokes Coral Placement by Holders Prices at 124.5p Per Share
- RB/ LN : Reckitt Continues Slide; UBS Says Resist Temptation to Buy
- RIO LN : Rio Tinto Says Amrun Project on Track for Early 2019 Completion
- SAN FP : Sanofi’s 2015-2018 Sales Outlook Dims for Diabetes Business
- SCMN SW : Swisscom Nine Month Ebitda CHF3.35 Bln
- TEN IM : Tenaris Third Quarter EPS Beats Highest Estimate
- TSLA US : Tesla Sinks on Cash Burn, U.S. Auto Sales Beat: Industrials Wrap
- UCG IM : UniCredit Sees Selling Down Stake to Below 20% by Year End
- DG FP : Vinci Buys Infratek and Horlemann Electrical Grid Specialists
- VOW3 GY : VW Shares Rise Above Diesel Scandal Level for First Time
- XPO US : XPO Logistics Third Quarter Adjusted EPS Beats Estimates