Dow-0.32% S&P-0.22% Nasdaq-0.01% Russell+0.54% VIX 12.12 (Flat)
US MArket closed lower, July closed higher by 2%. Employment cost Index was lower, lack of strong wage growth backed setiment of delayed of first rate hike. Sell off occured during the end of the day. Energy sector tumbled 2.6%, widening its July decline to 7.8% after Dow components Chevron (CVX 88.48, -4.55) and ExxonMobil (XOM 79.21, -3.80) reported disappointing results. The two names posted respective losses of 4.9% and 4.6% while crude oil slid 2.9% to $47.12/bbl. For the month, the energy component plunged more than 21.0%, returning to its January low. Volume were above average with more 915mil. shares. Asian markets are tracking the selloff in US markets on Friday to the downside, though the soft economic data in the month-turning PMI-filled session are also weighing on sentiment. China markets are seeing particularly steep losses, entering midday break with down nearly 2.5%. Over the weekend the official manufacturing PMI hit 5-month lows, with notable deterioration in Output, Backlog, and Input Prices components. Official non-manufacturing PMI rose a decimal to a 5-month high, however the SME-centril Caixin out on Monday was also a disappointment at a 2-year low. Over the weekend, PBoC research director warned that China economy would remain under pressure in H2, while regulators announced an inquiry for some of the China-owned brokers' trading records in Hong Kong and Singapore to seek out the culprits behind "malicious" short selling. Japan PMI remained in expansion, albeit slightly lower than the preliminary levels...With Greek bourses set to reopen, there was more backlash against German hardliners pushing Athens to the brink of euro exit. France Fin Min Sapin said Germany was wrong to propose a Grexit, and even Bundesbank member Buch said the discussion of Grexit was "tiring". Separate report in Greek press indicating the govt will seek €24B in the first tranche of the bailout aid as part of the €86B program, as negotiations are expected to conclude later this month.
Nikkei -0.18% Hang Seng -1.04% Shanghai -2.77%
Eur$ 1.0985 JPY 124.04 GBP 1.5626 EURCHF 1.0602 RUB $61.73 WTI $46.76 (-0.76%)
S&P -0.11% EuroStoxx-0.22% Dax-0.22% SMI
Macro :
- Caixin China July Manufacturing PMI 47.8; Est. 48.3
- Varoufakis Says Fear Can't Be Foundation for New Europe: Pais
- Italy’s Poletti Sees More Stable Job Contracts: Repubblica
- Fed’s Bullard: ‘We Are in Good Shape’ to Raise Rates in Sept:WSJ --> Link : http://on.wsj.com/1LWDHU0
- Greece may seek up to 24 billion euros in first new aid tranche: paper - Reuters --> Link : http://reut.rs/1fTAGYs
- Did We Just Hit The Threshold For Short Covering In Gold?--> Link : http://bit.ly/1KHkTJM
- Altmaier Says Merkel Re-Election Plan Report ‘Speculation’: Bild
- A banking scandal is set to bankrupt Europe’s poorest country- The Economist
Keep an eye on :
- AIR FP : Iran to Buy as Many as 90 Planes to Start Fleet Renewal: IRNA
- AREVA FP : Areva Needs Chinese Nuclear Investment, Chairman Tells JDD
- BMW GY : BMW ‘Frequently in Talks’ With IT Cos Including Apple: FAS
- BMW GY : BMW Considers New Electric Car Between i3, i8 Models: FAS
- BMW GY : BMW to Present Supervisory Board New Models, Handelsblatt Says
- BNP FP : BNP’s Bonnafe Sees ‘Timid’ Rise in Credit Demand: Les Echos
- CNA LN : Centrica CEO Signals Pull Back From Exploration Business: FT
- DAI GY : Mercedes to Halt Truck Production in Brazil for 20 Days: Estado
- DAI GY : Daimler Workers in Germany Seek New Labor Deal in 2015: DPA
- DB1 GY : Deutsche Boerse Plans ‘Small’ Stock Sale to Fund 360T Deal: FAS
- DGO LN : ENOC Increases Offer for Dragon Oil to 800 Pence a Share
- DGO LN : ENOC Wins Over Dragon Oil Minority Owners After Boosting Offer
- EI FP : Essilor Studying Potential Acquisitions, CEO Tells Investor
- EIT IM : Ei Towers CEO Looking at Mid-Sized European Acquisitions: Sole
- FCA IM : Chrysler Recalls 284,153 Dodge Chargers on Oversensitive Air Bag
- FPE3 GY : Fuchs Petrolub Buying SFR Lubricants to Expand in Scandinavia
- HEIA NA : Heineken 1H Cons. Oper. Profit Ex-Items EU1.55b. Est. EU1.53b ,Keeps Forecast, Sees Growth Weighted to 2H
- HSBA LN : HSBC Said to Increase Provisions for Misconduct Probes: Sky
- HSBA LN : HSBC Sells Brazilian Business to Bradesco for $5.2b Cash
- IHG LN : InterContinental Weighing Bids for Fairmont, Movenpick: Times
- ISP IM : Intesa CEO Says Italy Out of Record-Long Recession: Corriere
- KCO GY : Kloeckner Pentaplast Considers Stock Listing, FAZ Says
- MC FP : LVMH Plans More Hong Kong Stores on Lower Rents: Ming Pao
- NOK1V FH : Nokia to Sell HERE to German Carmakers for EU2.8b
- PNL NA : PostNL 2Q Underlying Operating Income EU82m; Est. EU72.4m
- REP SM : Repsol Hires Goldman Sachs, BBVA to Sell Assets: Confidencial
- RR/ LN : Rolls-Royce Activist ValueAct Said Lured by Air-Engine Services
- RR/ LN : Rolls-Royce urged to accelerate cost cuts - FT --> Link : http://on.ft.com/1M5beNv
- RSA LN : RSA Will Seek Minimum 600p/Shr Bid From Zurich: S. Telegrap
- SHP LN : Shire to Buy Foresight Biotherapeutics for $300m: WSJ
- SUN SW : Sulzer Says Renova’s Exceeding 33 1/3% Triggers Mandatory Offer, offer @ CHF99.20
- UBER IPO : Uber Valued at More Than $50 Billion --> Link : http://on.wsj.com/1N08EWf
- VOW3 GY : Volkswagen Names Google, Apple New Competitors: Handelsblatt
- VIE FP : Veolia 1H Adj. Operating Cash Flow Beats; Confirms 2015 Targets
- WCH GY : Wacker Chemie 2Q Ebitda EU329m, Est 332.3m; 2015 Goals Confirmed
- ZC FP : Zodiac Aerospace Says Restart of Damaged Plant on Schedule
- ZURN VX : Zurich Said in Talks to Raise More Than $4b for RSA Bid