Dow+0.27% S&P+0.28% Nasdaq+0.39% Russell+0.65%
US Market closed slightly up, thanks to reversal on oil. S&P Closed above the 2,100 mark. The biannual OPEC meeting failed to result in an agreement to establish an output ceiling. Furthermore, the group agreed on no other apparent means of curbing excess production. However, crude oil staged a rebound as investors shifted their attention to the Department of Energy's weekly stockpile report. The Energy Information Administration reported that crude oil inventories shrank by 1.36 million barrels, compared to the estimated 2.49 million barrel draw. Meanwhile, gasoline inventories declined by 1.49 million barrels, compared to the estimated 0.15 million barrel draw. As a result, oil ended its day with a marginal gain ($49.14/bbl; +$0.08; +0.2%). Seven sectors ended in the green with health care (+1.3%), telecom services (+0.5%), and consumer discretionary (+0.5%) leading. On the flipside, energy (-0.3%), technology (-0.1%), utilities (-0.1%) rounded out the board. Heavy Tech underperformed GOOGL -0.56%, MSFT -0.6% AAPL -0.8%. Volume were above average with 952mil shares. US After Hours NSAM +7% on reports Co is near deal with CLNY; AMBA +10%, BV +9%, AVGO +7%, GPS +5%, ZUMZ -8% following earnings/guidance, AVH+33.2% UAL &DL Potential bidders for AVH(WSJ), YHOO: Said to have met with Twitter on a possible merger- NYP. Asian equity markets are trading mixed, with soft China Services PMIs keeping mainland indices on the defensive despite the highest close in S&P500 since Nov 2015. Traders await non-farm payrolls data today, In FX, USD/JPY remains near its 2-week lows of 108.50 approached in US hours. China Caixin Services and Composite PMIs slid to 3-month lows but remained in expansion territory. In Hong Kong, May composite PMI contracted for 15th straight month but at a slower pace. Press reports out of China/Hong Kong, officials from both sides were said to be working closer toward the launch of the Shenzhen stock link. Japan May services PMI returned to expansion at 50.4. Markit said growth was underpinned by a modest increase in new orders for the second consecutive month and employment remained in growth territory.
Nikkei +0.27% Hang Seng +0.41% CSI +0.47% Shanghai +0.16%
Eur$ 1.1155 CNH 6.5890 CNY 6.5843 JPY 108.63 GBP 1.4408 CHF 0.9904 RUB 66.8692 WTI$49.20 (+0.06%)
S&P-0.04% EuroStoxx +0.40% Dax +0.36% SMI +0.30%
Macro :
- European, German Bank Mergers Likely, SocGen’s Cabannes Says
- Fed’s Kaplan: Next Step ‘Doesn’t Necessarily’ Mean June
- Fed’s Tarullo Says Stress Tests to Get Tougher for Big Banks
- Caixin China May Services PMI 51.2 vs 51.8 in April
Keep an eye on :
- ABI BB : Anheuser-Busch, Starbucks Will Offer Ready-to-Drink Tea in 2017
- AC FP : China’s Jin Jiang Wants to Boost Accor Stake to 29%: Figaro
- ADP FP : Nice Cote d'Azur airport privatisation attracts interest from Monaco - Les Echos
- AIR FP : Super Puma Heli Flights Banned by European Regulator After Crash
- AF FP : Air France Says Pilot Strike Will Hurt its Positive Momentum
- AMUN FP : Amundi CEO Perrier Says Brexit Not Most Likely Outcome: Echos
- AAPL US : Apple Hires Architect of BMW and Mercedes SatNav in Mapping Push
- RBOS GR : Bosch to Invest $22m More in Vietnam Manufacturing Plant: Times
- BP IM : Banco Popolare to Offer Shares at 29.3% Discount to TERP
- BAYN GY : Bayer Said to Secure $63b in Financing for Monsanto Bid
- BAYN GY : Bayer Unlikely to ‘Up Bid Much’ for Monsanto: Fox Business
- BOL FP : Metrobus could attract interest from Bollore, TF1, Exterion or ClearChannel - Les Echos
- BWO NO : BW Offshore’s Plan to Suspend Dividend Credit Negative: Moody’s
- CGG FP : CGG to Offer 1 New Share for 32 Held in Reverse Stock Split
- DGE LN : Better for Diageo If U.K. Stays in EU, Chairman Tells Bilanz
- EURN BB : Euronav, Frontline Deal Shows Hurdles to Shipping Mergers: UBS
- LSE LN : Deutsche Boerse Sticking to LSE Plan, CEO Tells Handelsblatt
- MRB FP : Mr Bricolage Shareholder ANPF to Buy 22.6% Tabur Family Stake
- MCK US : Said to consider separation of information technology unit with estimated value around $5B - press
- MON US : Monsanto Puts Active, Positioned for Downside by July
- NOVN VX : Novartis to Co-Promote Eisai’s Lenvima With Afinitor in U.S.
- ORA FP : Orange says European telecoms consolidation off for two years - FT
- PFE US : Pfizer CEO Won’t Rule Out Another Mega-Deal
- RYA LN : Ryanair to E-Mail 5m Customers Tmrw Saying to Vote ‘Remain’: Sky
- SAN SM : Santander, BPI Consider Buying Novo Banco: Diario Economico
- UBI FP : Vivendi may make full bid for Ubisoft on heels of hostile Gameloft bid garnering shareholder support - Les Echos
- FR FP : Valeo to Buy FTE Automotive for Enterprise Value of EU819m
- VIV FP : Vivendi Doesn’t Need Big Acquisitions, Bollore Says: FT - http://on.ft.com/1TYrZvL
- VIV FP : Vivendi may make full bid for Ubisoft on heels of hostile Gameloft bid garnering shareholder support
- VOLVB SS : Volvo to Raise Production, Hire 300-500 Staff in Gothenburg: DN
- VOW3 GY : Volkswagen AG Affirmed at BBB+ by Fitch; Outlook Negative
- YHOO US : Said to have met with Twitter on a possible merger several weeks ago - NY Post