Brexit Anxiety Rises; Markets Calibrate to Slower Growth Expectations Stocks managed to look past a host of worries this week and move higher. Global inflation readings continued to miss central bank targets allowing growth jitters to persist, particularly in Europe. On Friday, the US Treasury Sec Mnuchin wrapped up a week of negotiations in Beijing by emphasizing discussions remained constructive and will continue in DC next week.
WTI crude finished the week above $60, holding at roughly 5-month highs.
The Greenback lifted and the Euro slumped. The DJ Transports had a particularly strong showing, outperforming the broader indexes in 3 of the 5 trading sessions to a 3.5% rally.
For the week, the S&P rose 1.2%, the Dow added 1.7% and NASDAQ gained 1.1%.
In corporate news, Apple held a press event to announce its entrance into the video streaming market with its upcoming Apple TV+ product, as well as introducing an Apple Card digital credit card service and magazine subscription app Apple News+. Samsung weighed upon semi names after warning its Q1 will be lower than market expectations, noting a decline in memory chip and display prices that were larger than expected. Boeing shares lifted after it announced three software changes for its beleaguered 737 MAX aircraft, and the company said that the software upgrade could be installed within days following its approval from regulators. Wells Fargo CEO Tim Sloan announced he would retire, effective June 30th, while the Board pledged to find an outsider to replace him. Lyft’s long-awaited IPO opened for trade, quickly drifting below its opening price but finishing well above its $72/shr pricing.
Macro :
- Germany's Equity Indices Celebrate Best Quarter in Four Years
- China to Continue With Tariff Suspension on U.S. Autos, Parts
- Huge Stock-Bond Volatility Disconnect May Not Mean VIX Explosion
Keep an eye on :
- ACS SM : Spanish Police Says ACS Bribed Catalan Party Convergencia: Mundo
- AIR FP : Airbus May Have Paid Bribes in 2003-2008 Egyptair Deals: Spiegel
- POST AV : Austrian Post May Buy Grawe’s Bruell Kallmus Bank: Standard
- AZN LN : AstraZeneca Says 44.4 Million Shares Placed at GBP60.50/Share
- BA US : EU Agency Said to Have Skipped 737 Max Meeting in Snub to Boeing
- CSGN SW :Credit Suisse Hires Whitlock for Algorithmic-Trading Sales Role
- EDF FP : *EDF-ODDO BHF HAVE ENTERED NEW LIQUIDITY CONTRACT ON MARCH 28
- FCA IM : PSA Group, Fiat Chrysler Are Said to Explore Europe Venture
- FME GY : Fresenius Medical Sees No Effect on 2019, 2020 View From FCPA
- HLAG GY : Hapag-Lloyd Found Hole in Ship Hull, Too Early To Assess Damage
- IAG LN : British Airways Unions Reject Pay Proposal, Prepare Next Move
- MRK GY : FDA Approves Mavenclad to Treat Relapsing Multiple Sclerosis
- MCRO LN : Micro Focus Shareholders Reject Pay Report at AGM
- NOVN SW : Teva Drops Copaxone Patent Cases Against Novartis, Momenta
- OSR Gy : Osram CEO Reports ‘Good Progress’ in Talks With Bain, Carlyle
- PETR4 BZ : Brazil’s Petrobras to Bid for Israeli Gas Licenses: Calcalist
- UG FP : PSA Group, Fiat Chrysler Are Said to Explore Europe Venture
- PUB FP : Alliance Data Unit Said to Draw Publicis, Goldman and Advent Duo (ADS US +3% in After Mkt)
- SPM IM :Saipem Said in Talks to Exit Drilling Business With Two Sales
- SNR LN : Albany International Names Stephen M. Nolan as CFO & Treasurer
- TUI LN : Hapag-Lloyd Found Hole in Ship Hull, Too Early To Assess Damage
- VWS DC : Vestas Receives 749 MW Order for Turbines From Brazil, U.S.
- VIV FP : Vivendi to Remain Vigilant That TI Board Acts for All Investors