Dow+0.47% S&P+0.44% Nasdaq+0.47% Russell+0.12%
US Market closed higher. Equity indices opened their day sharply above their flat lines as global bourses rallied in response to yesterday's dovish remarks from Fed Chair Yellen. Ms. Yellen's cautious tone boosted risk appetite overseas and at home as she advocated a more gradual path to interest rate normalization. Furthermore, an early rally in crude oil worked to buttress the opening move higher. WTI crude was able to end its day in positive territory, settling up 0.2% at $32.86/bbl. the heavily-weighted technology (+0.7%) and financial (+0.6%) sectors led while consumer discretionary (+0.6%) and materials (+0.5%) followed, countercyclical utilities (-0.2%), health care (-0.1%), and telecom services (UNCH) underperformed. volume were well below average at 700mil shares. US After Hours MU +1%, PRGS -10% following earnings MDVN +13.7% (headlines that they are attempting to defend themselves from takeover interest ), EGLE +9.3% on recap news. Asian equity markets are mixed as the risk-on rally fanned by dovish Fed chair Yellen remarks appears to have run its course. The focus is turning to monthly manufacturing PMI figures in tomorrow's session, followed by March non-farm payrolls report on Friday. BOJ Gov Kuroda reiterated central bank's intentions to bring inflation to a stable 2% target before easing off the accommodative stance. Kuroda added there was no evidence in the market about concern that investors see BOJ underwriting govt debt. In China, an influential former PBoC adviser Yu called for more aggressive fiscal response to slowing property investment. He said fiscal deficit target could be expanded to 5% from the current 3% to stimulate demand, since the anticipated 10% slide in real estate investment may shave off about 1% of overall GDP. Another report saw expectations of PBoC planning to offer loans targeted at boosting consumption with the focus on rural regions.
Nikkei +0.38% Hang Seng-0.21% Shanghai +0.33%
Eur$ 1.1323 CNH 6.4722 CNY 6.4661 JPY 112.27 GBP 1.4341 0.9655 RUB$ 68.24 WTI $37.87 (-1.17%)
S&P -0.13% EuroStoxx -0.45% Dax-0.35% SMI -0.30%
Macro :
Templeton’s Mobius to Pass on Responsibilities in End of Era
Gross’s Janus Fund Capping Its Best Quarter Since He Took Charge
U.S. Individual Investor Bulls Fall to Lowest Since Mid-Feb
Keep an eye on :
- ALV GY : Allianz Said to Plan $5b Insurance Portfolio Sale in Italy: Rtrs
- STS IM : Ansaldo STS Board Members Including CEO Submitted Resignation
- BLU IM : *BLUE NOTE SHARES SUSPENDED FROM TRADING INDEFINITELY: BORSA
- EN FP : Orange, Bouygues Talks Said Held Up on Deal Valuation: Echos
- EN FP : Orange, Bouygues to Extend Deal Talks Beyond March 31: Reuters http://reut.rs/1RMoRPb
- EN FP : Bouygues Sets Sunday Deadline for Orange Talks: Le Figaro
- CA FP : Billionaire Diniz Said Considering Boosting Carrefour Stake
- EDF FP : EDF union board rep to vote against Hinkley Point project - FT
- ENEL IM : Enel and F2i start talks over control of Metroweb - Il Sole 24 Ore
- EI FP : French Antitrust Head Says No Conflict of Interest on Essilor
- RF FP : Eurazeo to Buy Brands From Mondelez for EU250m, Les Echos Says
- HYDR LI : RusHydro: energy ministry proposes reducing size of additional share issue - Vedosmonti
- KCR1V FH : Konecranes still has plenty of options for Terex; company could be split between Konecranes and Zoomlion - Kauppalehti
- MAU FP : Maurel & Prom 2015 Net Loss EU95m Vs Profit of EU13m
- MDLZ US : Eurazeo to Buy Brands From Mondelez for EU250m, Les Echos Says
- MDVN US : Medivation Said to Work With Advisers to Defend Against Takeover
- ORA FP : Orange, Bouygues Talks Said Held Up on Deal Valuation: Echos
- ORA FP : Orange, Bouygues to Extend Deal Talks Beyond March 31: Reuters http://reut.rs/1RMoRPb
- ORA FP : Bouygues Sets Sunday Deadline for Orange Talks: Le Figaro
- SU FP : Nest Said to Generate $340m in Sales in 2015: Re/code
- SQ US : Square Gains as Much as 10%; Mizuho Calls Co. Acquisition Target
- RNO FP : Renault-Nissan, Daimler Plan to Deepen Cooperation: Handelsblatt
- ROG VX : Roche to Start Testing for Zika Virus at U.S. Blood Centers
- SOLB BB : Solvay, Ineos Sign Binding Pact on Solvay’s Exit From Inovyn
- STL NO : Statoil Chairman Says ‘Right’ to Have Operations in Angola: DN
- UCG IM : UniCredit Assessing Whether to Delay Pop. Vicenza IPO, Cap Hike
- WBMD US : WebMD Added to S&P MidCap 400, SciClone to S&P SmallCap 600
- RF FP : Wendel Says Has Already Met 2013-2017 Targets