Dow+0.69% S&P+0.73% Nasdaq+0.44% Russell+0.41%
US Market closed higher for 2nd day in a row. S&P Closed above its 50d & 100d MA. Equity indices began the day with slight gains after China's Shanghai Composite spiked 3.4% overnight, which improved risk tolerance among global investors. The Dow and S&P 500 rallied throughout the session while the Nasdaq hovered near its opening levels into the afternoon before setting new highs ahead of the close. energy sector (+1.3%) settled ahead of industrials thanks to an intraday rally in crude oil that sent the energy component higher by 1.7% to $48.77/bbl. Volume were ahead of average @ 850mil shares. US After Hours LPSN +21.5%, WSTL +15.8%, VRTX +2.3%, QRVO -15.5%, WFM -11.2%, FB -3.3% following earnings/guidance...Asian indices are mixed as traders digest the implications of marginal changes in the latest FOMC statement. While the Fed clearly upgraded its view of US employment, inflation outlook remains subdued and thus the baseline scenario is for rate liftoff to be beyond the next September meeting. US stocks were higher into the close, but the bond market is in retreat with the 10-year note yield back above 2.3% for the first time in a week. Two more jobs reports and GDP data (first estimate is on Thursday) should continue to solidify market bias for the Fed timing. Shanghai Composite trading was significantly less volatile as traders also await the official PMI figures due Friday evening. PBoC did inject another CNY40B of liquidity through 7-day repos, but the offering yield remained unchanged at 2.5%. Samsung Electronics fell over 3% after final Q2 results. Panasonic 6752.JP -5.0% (Q1 result), LG El. 066570.KR -5.7%, NHN 035420.KR -12.8% (Q2 result, Tokyo Electric Power Co 9501.JP +5.9% (Q1 result)
Nikkei +0.93% Hang Seng +0.25% Shanghai +1.18%
Eur$ 1.0962 JPY 124.12 GBP 1.5594 EURCHF 1.0623 RUB $58.77 WTI $48.75 (-0.12%)
S&P -0.05% EuroStoxx +0.76% Dax +0.7% SMI +0.32%
Macro :
- Greek Govt Discussed Bank Recapitalization Today: Official
- MSCI Won’t Change Greece Indexes as Part of Aug. Qtrly Review
Keep an eye on :
- ABI BB : AB InBev 2Q Normalized Ebitda, Organic Rev. Growth Miss Ests., 2Q Organic Vols. Fell in North America, Europe
- AC FP : Accor 1H Ebit Beats Ests., 2015 Ebit Forecast Below Ests.
- AI FP : Air Liquide 1H Earnings Beat Estimates; 2015 Forecast Confirmed
- ALU FP : Alcatel-Lucent 2Q Sales Match Ests.; CEO to Depart Sept. 1
- ALU FP : Alcatel-Lucent CFO Says Nokia Deal Could Close Early Next Year
- ANA FP : Acciona 1H Net Rises 50% From Year Earlier to EU103 Million
- ADP FP ; Alexander Wang Said to Be Ready to Leave Balenciaga: Reuters
- APAM FP : Aperam 2Q Ebitda Tops Est., 3Q Ebitda to be Lower Q/q
- AREVA FP : Areva Says It Needs About EU7b in Financing for 2015-17
- ASMI NA: ASM International 2Q Rev. Beats Ests.; Net Misses
- SAN SM : Banco Santander 2Q Net EU2.54B; Est. EU2.6B
- BRISA PL : Brisa Concessao Raises Forecast for 2015 Toll Revenue Growth
- CAP FP : Cap Gemini 1H Sales Beats; Raises 2015 Outlook
- CO FP : Casino 1H Trading Profit Falls, Hurt by France Price Cuts
- CDI FP : Christian Dior FY Rev. EU35.1b vs Est. EU34.2b
- CLN VX : Clariant 2Q Ebitda Ex-Items In Line; Confirms 2015, M/T Outlook, to Set Up Separate Unit for Plastics and Coatings
- DELB BB : Delhaize Group 2Q Adj. Ebit EU223m; Est. EU197.8m; Keeps Outlook
- DUFN SW : Dufry 1H Rev. Up 31%, Ebitda Up 7%
- EI FP : Essilor Confirms Full-Year Targets; Demand Strong in US, Europe
- EUCAR FP : Europcar Groupe 1H Adjusted Corporate Ebitda EU60.2M, Up 39%
- ETL FP : Eutelsat FY Rev., Ebitda Meet Ests.; Sees Rev. Growth Improving
- ENEL IM : Enel 1H Adj. Net, Ebitda Beat; Net Debt Up 6.6% From Year-End
- ENI IM : Eni 2Q Adj. Net EU448m vs Est. EU469m; Div. EU0.40/Share
- ENX FP : Euronext 2Q Ebitda, Rev. Advance; Year End Targets on Track
- FRE GY : Fresenius 2Q Rev. EU6.9b vs Est. EU6.8b, Fresenius Raises 2015 Earnings Guidance
- GAM FP : Gamesa 1H Net Pre-Adwen EU86M Vs EU42M a Yr Earlier
- GSZ FP : Engie 1H Ebitda, Net Beat Estimates; Confirms 2015 Targets
- GSZ FP : Engie’s Kocher Says French CSPE on Gas Would Be ‘Bad News’
- G IM : Generali 2Q Net Profit Rises to EU626m; Analyst Est. EU581m
- NK FP : Imerys 1H Net EU145.2m vs EU131.5m Y/y
- IFX GY : Infineon 3Q Sales, Segment Result Match Ests.; Specifies Outlook
- ING FP : Ingenico 1H Net Beats Ests.; Raises 2015 Rev., Ebitda Outlook
- IT IM : Italcementi 2Q Ebitda, Rev Beats, to Review HeidelbergCement Bid
- DEC FP : JCDecaux 1H Adj. Rev. Matches Est.; Sees 3Q In Line With 1H
- DLG GY : Dialog Semi 2Q Sales Beats; 3Q Sales View Misses; CFO to Leave
- JMT PT : Jeronimo Martins 1H Polish Sales Rise 11.7% to EU4.5b Y/y
- KER FP : Alexander Wang Said to Be Ready to Leave Balenciaga: Reuters
- LR FP : Legrand 1H Organic Sales Little Changed, Confirms FY Targets
- LI FP : Klepierre Raises Full-Yr Guidance for Net Current Cash Flow
- LHA GY : Lufthansa 1H Adj. Ebit EU468m; Confirms FY Forecast
- TL5 SM ; Mediaset Espana 1h Ebitda EU119.5m; Est. EU118.75m
- MONC IM : Moncler 1H Sales, Adj. Ebitda Beat Ests.
- NOK1V FH : Nokia 2Q Sales Miss, Adj. EPS Beats Ests., Nokia Networks 2Q Margin Improves; Net Beats, Sales Miss
- ORA FP : Bpifrance Selling 2% Orange Stake in Accelerated Placement, Sells Orange Shrs at EU15.12, Raises About EU800m
- UG FP : Fabius Says Renault Has Chance in Iran; Harder for Peugeot
- PSM GY : ProSieben 2Q Rev., Ebitda Beat; Sees Sales at Upper End of Range
- QIA GY : Qiagen Reaffirms Adj. EPS, Sales Beat Estimates
- RNO FP : Renault 1H Profit EU1.07b, Est. EU1.08b; Forecast Reiterated
- SAF FP : Safran Could Envison LEAP Production Increase ‘Later,’ CEO Says, Safran Raises Outlook on ‘Strong’ Civil Aftermarket Activity
- SGO FP ; Saint-Gobain 1H Op. Income EU1.275b; Beats Estimates
- SIE GY : Siemens 3Q Industrial Profit Beats Estimates, Confirms Outlook
- SAN FP : Sanofi 2Q Net Sales, Business EPS Beat Ests.; Keeps FY Forecast
- SREN VX : Swiss Re 2Q Net Income $820m, Est. $834m
- TEC FP : Technip 2Q Adj. Ebitda EU353m vs Est. EU335m; Backlog at EU18.8b, CFO Says Oil Projects in North Sea Are Slowing Down
- TEF SM : Telefonica 2Q Oibda EU3.7b; Est. EU3.69b
- TNET BB : Telenet Raises Sales, FCF Forecasts as 2Q Rev. Beats Ests.
- VK FP : Vallourec, Hyundai Mipo May be Cut From MSCI Indexes: SocGen
- RIN FP : Vilmorin FY Rev. EU1.27b, Matches Est.; Net Income Seen Lower
- VOS GY : Vossloh 2Q Net Income EU4.2m vs Loss EU155.4m; Sticks to Outlook