Dow -0.24% S&P -0.12% Nasdaq -0.11% Russell -0.80%
US Market closed lower after a strong rebound last week. Seven of the eleven sectors finished in negative territory with the energy (-1.3%) and financials (-0.8%) groups leading the retreat. Crude oil weighed on the energy sector early, opening Tuesday's session with a loss of over 1.0%. However, the commodity rallied in the afternoon to settle lower by just 0.3% ($49.63/bbl). For financials, banks finished lower across the board with Goldman Sachs(GS 218.42, -4.36) showing relative weakness (-2.0%). IBB -1.4%, Healthcare -0.2%, -industrials (-0.1%), materials (-0.1%), consumer staples (unch), and real estate (-0.3%), telecom services sector (+1.4%) led Tuesday's session. fed funds futures market continues to sit on the expectation that the Fed will raise the fed funds rate again at the June 13-14 FOMC meeting, but then hold off on another rate hike until 2018. The CME's FedWatch Tool shows only a 45.3% probability of a subsequent rate hike at the December meeting, down from 53.5% a week ago. US after hours HTZ+3% of Notes offering. Asian Mkt little changed. Chinese markets have resumed trade following the Dragon Boat Festival. Volatility in China’s bulk metals has driven a 3-4% sell-off in coking coal and iron ore futures. This is despite the official manufacturing PMI surprising expectations for a decline. Nikkei is trading in a narrow range. Data revealed industrial production rebounded at a smaller-than-expected pace. Elsewhere, miners are capping the ASX amid the China commodity volatility
Nikkei -0.25% Hang Seng -0.06% CSI +0.08% Shanghai +0.26%
Eur$ 1.1167 CNH 6.7972 CNY 6.8346 JPY 110.90 CHF 0.9757 RUB 56.6645 WTI$ 49.31 -0.70%
S&P +0.02% EuroStoxx -0.03% Dax -0.08% FTSE +0.01% SMI -0.02%
Macro :
- China May Manufacturing PMI at 51.2; Est. 51.0
- Pound Falls as Poll Shows Conservatives May Miss Their Majority
- U.S. Willing for More Talks on Plane Laptop Curbs: EU Official
- European Commission paper proposes packaging different countries' debt into new sovereign bond-backed securities
- Ross Says He’s ‘Open to Resuming’ Talks on EU Trade Deal: CNBC
- Swiss to Hike Dividend Tax in Corporate Tax Reform Review: T-A
- Trouble Brews for OPEC as Expensive Deep-Sea Oil Turns Cheap (1)
Keep an eye on :
- ADS GY : Adidas Extends Sponsorship of New Zealand Rugby Through 2023
- AKZA NA : PPG Industries Board to Discuss Akzo Nobel Within Hours
- AKZA NA : PPG Loses Request for More Time to Make Firm Bid for Akzo Nobel
- ANTO LN : To sell its 40% stake in the 69.5 MW Javiera solar park in north-central Chile to Atlas Renewable Energy; no terms disclosed
- AZN LN : UCB Drops Case Against AstraZeneca Over Patent for Synagis
- BMW GY : BMW goes for pole position in fast-growing Chinese car market - FT
- CLNX SM : American Tower Said to Explore Acquisition of Spain’s Cellnex
- BN FP : Danone to Issue 13.84m New Shares for Payment of Dividend
- EDF FP : is considering a sell down of its 65% stake in Dunkerque LNG as part of its EUR 10bn divestment programme, two sources briefed on the matter said.
- EOAN GY : E.On Said to Hire Goldman to Explore Uniper Stake Sale: Reuters
- ERICB SS : Ericsson Welcomes Cevian as Shareholder, Spokesman Says, Cevian Capital’s Gardell Supports Ericsson CEO’s Plan
- ENX FP : Euronext Says Chief Operating Offier Jos Dijsselhof to Leave
- IG IM : Strategic Update: to cut costs by 2018 of more than 15% compared to 2016
- LHN VX : LafargeHolcim to Start CHF1 Billion Share Buyback in June
- MTX GY : MTU Seeks Engine Construction Alliances, Sees Earnings Jump: BZ
- NDA SS : Finland Won’t Make ‘Special Offer’ for Nordea, Sipila Says: HS
- NOVOB DC : Novo Nordisk Losing Market Share in Europe, Doustdar Tells JP
- RNO FP : Renault Mulls Launching Zoe Electric Car in S.Korea 2019: Yonhap
- RBI AV : Raiffeisen Says Its Talks With KNF About Poland IPO Continue
- SW FP : Sodexo CEO Landel to Retire in Jan. 2018; Machuel to Replace Him
- SYNN VX : Syngenta Says About 95% of Shares Tendered to ChemChina
- UCB BB : UCB Drops Case Against AstraZeneca Over Patent for Synagis
- UN01 GY : E.On Said to Hire Goldman to Explore Uniper Stake Sale: Reuters
- VACN SW : VAT Placing by Holders Prices at CHF120 Per Share
- VIE GY : Veolia Water France Aims To Double Operating Profit in 2020
- VIV FP : Vivendi CEO Said Poised to Take Over as Telecom Italia Chairman