Dow -0.53% S&P -0.59% Nasdaq -0.73% Russell -1.27%
US Market closed lower after few records. financial sector (-1.4%), which led all S&P 500 sectors on Wednesday, took the biggest hit on Thursday, giving back over half of Wednesday's impressive 2.8% gain. In light of the sector's huge 24.1% post-election advance, however, today's downtick was still relatively modest. The materials (-1.1%) and industrials (-1.0%) sectors also had a rough showing. Energy sector (-0.9%) also failed to keep pace with the benchmark index as crude oil prices slid 2.3%. The energy component finished Thursday at $52.61/bbl following reports that Russia failed to meet its pledged production cuts in the month of February. The consumer discretionary sector (-0.2%) also closed in negative territory, but just barely, as the earnings front provided the sector with a solid backstop. The fed funds futures market is now assigning an implied probability of 79.7% to a March rate hike, up from 66.4% yesterday and from only 26.6% last Friday. Snap launched its much anticipated IPO on Thursday. Snap IPO prices @ $17 traded up to $26.05 to close at $24.48 +44% - 216mil shares traded vs 200mil shares placed. US After Hours HABT +10.5%, MRVL +2% following earnings/guidance.... IMMR -17%, NTNX -14%, BBG -9%, COST -4% lower following earnings/guidance, SCYX -28.7% on clinical trial delay. Asia indices are down heading into the weekend, tracking far more restrained sentiment on Wall St after an outsized rally in the wake of Pres Trump's Congressional address. Concerns over valuations, building expectations of March Fed hike, and political controversy in the White House are being attributed for the decline, as Financials and Materials sold off the most heavily while Utilities rallied. Japan CPI data were mixed, as headline nationwide print ticked up higher while forward looking Tokyo-region dipped deeper in the red. In its regular QE operations, BOJ also pulled back on the purchases of long bonds in an effort to steepen the curve. In China, Feb Caixin Services PMI slowed to a 4-month low, even as overall Composite improved and composite Employment component rose for the first time in nearly 2 years.
Nikkei -0.49% Hang Seng -0.69% CSI -0.36% Shanghai -0.49%
Eur$ 1.0523 CNH 6.8943 CNY 6.8984 JPY 114.14 GBP 1.2264 JPY 1.0121 RUB 58.8912
S&P -0.24% EuroStoxx -0.27% Dax -0.35% FTSE -0.26% SMI -0.30%
Macro :
- ECB’s Lautenschlaeger Says She Doesn’t Want a Basel 4 for Banks
- U.S. Utility Index Hits 7-Month High On Switch to Safe Assets
- UBS Ponders S&P 500 at 2,500 as Strategists’ Forecast Rise
- Japan’s GPIF Posts Record $92b Gain in Oct.-Dec. Quarter
Keep an eye on :
- AIR FP : Airbus CEO Enders Wrote to Governments Over Cash: Echos
- AI FP : Air Liquide in Talks W/ Lincoln Electric on Sale of Welding Unit
- ANDR AV : Andritz Boosts Dividend After 2016 Ebitda Hits Record EU442.1m
- AAPL US : Apple’s Cue Said to Have Met With Paramount, Sony Units: NYP
- ASMI NA : ASM International Forecasts 1H Sales Growth After 4Q Net Jumps
- ATC NA : *ALTICE USA BUYS AUDIENCE PARTNERS; NO TERMS
- AAPL US : Apple Falls to Session Low; Digitimes Reports Fingerprint Issue
- BMW GY : BMW Recalls About 34,500 Cars in Japan for Air Bag Inflators
- CBK GY : Commerzbank Said to Have Abandoned Attempt to Buy OLB: FAZ
- CGD FP : Cegid Group FY Net Jumps 25%, Revenue Increases 9%
- CGG FP : CGG 4Q Net Loss $280m; Co. to Seek Debt to Equity Conversion
- DBK GY : Deutsche Bank Said to Seek New London HQ in Docklands: CoStar
- DBK GY : Deutsche Bank Reviewing Revamp of IT Management: Sueddeutsche
- EDP PL : EDP Full-Year 2016 Net EU961m; Est. EU934.5m
- EDP PL : EDP CEO Says There Is No Operation to Sell Naturgas at Moment
- ENEA SS : Enea Says Price for Engie Polish Assets Is Set at 1.26b Zloty
- FNTN GY : Freenet 2016 Ebitda EU438.8m, Est. EU412.8m
- GTO NA : Gemalto FY Rev. Beats Est.
- GEO IM : Geox 2016 Rev EU900.8m, Proposes Annual Div of EU0.02/Share
- GSK LN : GSK Shareholders Said to Demand CEO Pay Package Cut: Sky
- HOT GY : Hochtief: No Plans to Join Construction of U.S.-Mexico Wall
- ILD FP : Free Gets EU200m European Investment Bank Loan for Fiber: Echos
- I US : Intelsat Shares Fall 24% on Concerns Bondholders May Block Deal
- ITM IM : Italmobiliare to Seek Buyback Approval of Up to EU100m in Shares
- DEC FP : JCDecaux Interested in Clear Channel at Right Price: Reuters
- BAER VX : Julius Baer CEO Says Fed Rate Hikes Build Investor Confidence
- MS US : Morgan Stanley Said to Get Nearly $26m Fees From Snap IPO: WSJ
- KN FP : Natixis Names Prevedello, Rolandino Heads of Italy Coverage, M&A
- UG FP : PSA Said to Be Closing In on Deal to Buy GM’s European Opel Unit
- PSG SM : Prosegur Cash IPO to Raise Up to EU969m at EU1.95-EU2.35 Per Shr
- SNAP US : Snap Qualifies for Early Inclusion in Some MSCI Indexes
- LOCAL FP : Solocal Raises EU398m Cash From Shareholders, Creditors: Echos
- BID US : Sotheby’s Rallies as Much As 4% After Record London Auction
- SYNN VX : Syngenta Didn’t Get EU Statement of Objections on ChemChina: FT
- SPOTIFY IPO : Spotify Says It Has Reached 50m Subscribers
- UCG IM : UniCredit Says Rights Issue Fully Subscribed
- ZURN VX : Zurich CEO Mario Greco Receives Total Remuneration of CHF7.8m