Dow -0.49% S&P -0.64% Nasdaq -0.90% Russell -1.38%
US Market closed lower and broked the last 15 days trading range. disappointment surrounding Japan's latest fiscal stimulus package and continued weakness from European banking names contributed to pressure. WTI crude finished its session lower by 1.5% ($39.49/bbl; -$0.60), extending its weekly loss to 5.0%. The S&P 500 (-0.6%) finished off its worst level of the day, reclaiming technical support near the 2152/2153 price level. However, nine sectors finished in the red with technology (-0.8%), industrials (-0.9%), financials (-0.9%), and consumer discretionary (-1.5%) rounding out the leaderboard. The remaining decliners finished with losses between 0.1% (consumer staples) and 0.6% (utilities). Conversely, energy (+0.9%) ended with the only gain. IBB +0.2% helped by news of potebntial interest from Allergan & Merck for Biogen (BIIB). Volume were above average with 916mil shares. US After Hours GNW +19%, BGFV +12%, FIT +6%, XXIA +6% higher following earnings/guidance, STLY +61% on strategic alternatives news... CRAY -20%, RUBI -19%, MXWL -16%, CYH -13.5% on earnings/guidance. Asian equity markets are trading with a negative bias, tracking a more pronounced selloff on Wall St. Traders are turning increasingly cautious going into the NFP US jobs release on Friday while also taking note of soft US auto sales and persistent pressure in the energy space. China Services Caixin PMI remained in expansion at 51.7 but fell a full point from the prior month. In Hong Kong, July composite PMI Contracted for the 17th straight month. Bearish sentiment has been more pervasive in Japan since yesterday when the govt announced the makeup of its fiscal stimulus. A critical Nikkei report today highlighted the lack of labor reform measures such as little effort on productivity improvement and lowering the barrier of entry for top industries.
Nikkei -1.58% Hang Seng -1.61% CSI +0.11% Shanghai +0.24%
Eur$ 1.1208 CNH 6.6363 CNY 6.6297 JPY 101.04 GBP 1.3329 CHF 0.9653 RUB 66.7847 WTI $39.59 (+0.20%)
S&P -0.13% EuroStoxx -0.03% Dax -0.10% SMI +0.12%
Macro :
- China Said to Plan Index Futures Revival After Volumes Drop
- ECB’s Bond Buying Boosts Parts of the Market It Can’t Even Touch
- Why the Rise of the One Percent Makes Janet Yellen’s Job Harder
Keep an eye on :
- AC FP : Hyatt Cuts ’16 Expense Guidance as RevPAR Slows Near End of 2Q
- AF FP : Air France, Unions to Resume Talks on Aug. 24, Le Figaro Says
- MT NA : ArcelorMittal Will Sell Valin Stake, Keep Steel Joint Venture
- AKE FP : Arkema 2Q Ebitda Beats Ests.; Sees 2016 Ebitda Growth of 7%-9%
- CS FP : Axa 1H Net EU3.2b vs Est. EU3.6b; Solvency II Ratio 197%
- SPR GY : Axel Springer 2Q Revenue Misses; Confirms 2016 Ebitda Forecast
- BIIB US : Biogen Draws Takeover Interest From Allergan, Merck: WSJ
- BMSA GY : Braas Monier 2Q Sales Falls 1.8%; Adjusts 2016 Outlook
- ACA FP : Credit Agricole 2Q Net Beats; LCL Revenue Down 10%
- DIC GY : DIC Asset 2Q FFO Falls 9%; Raises Parts of 2016 Outlook
- DPW GY : Deutsche Post 2Q Profit Beats Estimate; Forecast Confirmed
- DSM NA : DSM CEO Sees Company Making Acquisitions Again in 2017: FD
- ELG GY : Elmos Semiconductor 2Q Up 1%; Sees Higher Sales, Earnings in 2H
- ELE FP : Euler Hermes 1H Net, Rev. Fall; Claims Rate Is ‘Reassuring’
- GAM SW : GAM Holding Says 1H Profit Falls on Reduced Performance Fees
- GBB FP : Bourbon Says Adjusted Sales Will Possibly Improve End 2016
- HSBA LN : HSBC’s 2Q Profit Misses Est., to Start Up to $2.5b Buyback
- HSBA LN : HSBC Shares to React Positively on 2Q Results, Buyback: Goldman
- INGA NA : ING 2Q Net Income Jumps; Group CET1 Ratio Rises
- KU2 GY : Kuka 2Q Sales Below Ests.; Sees FY Revenues of More Than EU3b
- MDM FP : Maison du Monde Expects to Beat FY Targets; Details in October
- MAN GY : Class 8 Truck Orders Down 19% M/m in July: Jefferies, Citing ACT
- MOR GY : Morphosys Successfully Completes Safety Run-in of MOR208
- NOVN VX : Novartis Inhibitor LEE011 Gets FDA Breakthrough Designation
- LIGHT NA : Philips Lighting CEO Exercises Philips Options, Sells Shrs: AFM
- PST IM : Poste Italiane 1H Rev. Beats Ests., Net Profit Rises
- SFER IM : Ferragamo 1H Ebitda In Line With Estimates
- SFR FP : SFR Wants to Wrap Up Its Restructuring Plan This Week: Le Figaro
- GLE FP : SocGen 2Q Net Income Beats, Rises 8.1% Y/y; CET1 Ratio Stable, Can Deliver 10% ROE in ’Normalized Environment’: Cabannes
- VIV FP : Mediaset: No Meeting With Vivendi Has Been Scheduled for Now
- VOLVB SS : Class 8 Truck Orders Down 19% M/m in July: Jefferies, Citing ACT
- VOW3 GY : Volkswagen Expects Better Full-Year Sales in China This Year
- VOW3 GY : Class 8 Truck Orders Down 19% M/m in July: Jefferies, Citing ACT