Dow +1.64% S&P +1.70% NAsdaq +1.86% Russell +2.20%
US Market Closed higher for a 2nd day in a row, following europe rebound. 2070 was a resistance, The area is significant as it represents the underside of Friday's gap down and rests within five points of the index's 50-day simple moving average (2076.49). Ten sectors ended in the green with financials (+2.3%) and energy (+2.0%) leading the pack while health care (+1.9%), industrials (+1.8%), and technology (+1.7%) followed. financial sector (+2.3%) ended the session near its best level of the day as money center banks outperformed. In the group, JPMorgan Chase (JPM 61.20, +1.68), Citigroup (C 42.12, +1.68), and Bank of America (BAC 13.19, +0.49) gained between 2.8% and 4.2% ahead of this evening's Comprehensive Capital Analysis and Review (CCAR) results. Expectations remain high that most banks will be granted approval to boost their respective capital return programs. The broader sector trimmed its monthly loss to 4.9%, but still sports a loss of 5.6% for the year. Today Volume were again above average with more than 1bil shares. traded. Vix was down for a third day i n a row, trading to pre brexit levels (16.64). Federal Reserve's annual capital analysis review (CCAR) of major financials gave passing grades to 30 out of 33 key institutions and once again singled out Santander and Deutsche Bank units based on "qualitative concerns." Among the dividend/buyback plans of top financials, Citigroup was most notable with a payout increase of 220% and a buyback of $8.6B (~7% of market cap). JPM and BAC plans were more modest - former maintained div with a 4.7% shares buyback and the latter raises its div by 50% with 3.7% share buyback. US Banks Moved after Hours C+2.2% JPM +0.9%. Mainland China markets underperformed, weighed down by cautious rhetoric from Fin Min Lou and mixed sentiment in the China Beige Book. Japan's preliminary May industrial output was the most notable datapoint, missing estimates on both sequential and annual basis.
Nikkei +0.39% Hang Seng +1.66% CSI +0.23% Shanghai +0.03%
Eur$ 1.1096 CNH 6.6622 CNY 6.6441 JPY 102.63 GBP 1.3394 CHF 0.9806 RUB 63.9627 WTI$ 49.36 (-1.04%)
S&P -0.31% EuroStoxx -0.28% Dax -0.10% SMI -0.19%
Macro :
- Germany Seeks to Convert Empty Offices to Homes: Bild-Zeitung
- CVC Raises EU650m Fund for Distressed Loans in Europe: FT
Keep an eye on :
- AIRBNB IPO : Airbnb Said Planning Dual Stock Sales to Put Off IPO: WSJ
- CRG IM : Banca Carige Plans NPL Sales of EU1.8b, With EU900m This Yr
- BAYN GY : Monsanto Said to Demand Up to $7b More From Bayer in Bid: HB
- BMW GY : BMW Is Said to Team Up With Intel, Mobileye on Self-Driving Cars
- CSGN VX : Credit Suisse Said to Plan to Raise Stake in China JV: Reuters
- ENI IM : ExxonMobil eyes Anadarko, Eni assets in Mozambique
- ENG SM : Enagas Agrees to Increase Stakes in Sagunto, GNL Plants
- ISP IM : Intesa CEO Opposes State Aid for Italian Banks: Boersen-Zeitung
- KER FP : Kering Will Appeal $13m Ruling on Slimane Non-Compete Clause
- LHA GY : Lufthansa CEO Spohr Sees Ticket Price Slump Continuing: Welt
- LGF US : Lions Gate Said to Be in Advanced Talks to Acquire Starz
- NOKIA FH : Nokia Raised to Buy at Goldman; Cites ‘Strategic Edge’
- RCS IM : RCS suitor Cairo Communications may not inprove public offer public offer
- HO FP : Thales Gets GBP80m Watchkeeper Drone Support Contract From U.K.
- UCG IM : Unicredit has Jean Pierre Mustier as favourite to become CEO
- VOW3 GY : Audi Leads China Luxury Car Sales Satisfaction Survey 4th Year
- WDI GY : Wirecard to Buy Citi Card Services by Share, Asset Deal