Dow-0.52% S&P-0.39% Nasdaq-0.25% Russell-0.66% VIX 12.56 (+3.63%)
US Market traded lower, closed below its 50d MA. chinese PMI pushed mkt lower, official Manufacturing PMI hit a five-month low (50.0; expected 50.2) while the Non-Manufacturing PMI improved to 53.9 from 53.8, representing a five-month high. eurozone economies reported Manufacturing PMI readings that were mostly better than expected while economic data from the U.S. contributed to the weakness in the stock market as Construction Spending (+0.1%; consensus 0.6%) and the ISM Manufacturing Index (52.7; consensus 53.7) missed expectations. energy sector (-2.0%) spent the entire session at the bottom of the leaderboard as crude oil fell 3.9% to $45.25/bbl. technology space (-0.5%) was pressured by large cap names with the likes of Apple (AAPL 118.44, -2.86), IBM (IBM 158.71, -3.28), and Hewlett-Packard (HPQ 30.02, -0.50) falling between 1.6% and 2.4%. Volume were in line with average at 800mil shares...US After Hours PLOW +11%, TNET -26%, CGNX -22%, AIG flat following earnings/guidance...Shanghai Composite has entered its midday break at the highs up 1.3% on further steps by Beijing to slow down the selloff. Securities regulators announced a revision to the rules on short selling whereby investors borrowing shares must wait one day to pay back loans - currently investors can do so on the same day - thereby reducing single day-trading momentum activity that exacerbates volatility. Separately PBoC injected another CNY50B into the system via 7-day reverse repos, while a press report citing BoCom chief economist called for more RRR reductions to boost liquidity. Japan : Labor cash earnings posted its biggest y/y decline in 5 years of -2.4%, while ex-inflation drop was even more severe at -2.9%. Expansion of monetary base is also slowing despite BOJ officials consistently maintaining they are prepared to adjust policy in response to economic developments. BOJ Dep Gov Iwata said further JPY weakness may not materialize as rate differentials shift with tighter Fed policy, since some of that adjustment may have already been factored in. Australian dollar is sharply higher in the session, first helped by better than expected economic data and then a more hawkish set of comments from the RBA in today's statement.
Nikkei -0.26% Hang Seng -0.10% Shanghai +2.08%
Eur$ 1.0945 JPY 124.01 GBP 1.5595 EURCHF 1.0613 RUB $63.7868 WTI $45.52 (+0.77%)
S&P Unch EuroStoxx-0.14% Dax -0.10% SMI -0.06%
Macro :
- Obama Climate Plan Squeezes Coal as China Fights Pollution
- New Nuclear Power Seen as Big Winner in Obama’s Clean Power Plan
- PBoC to inject CNY50B in 7-day reverse repos (12th consecutive injection)
Keep an eye on :
- AAPL US : Apple in Talks for MVNO Service in U.S., Europe: Bus. Insider
- ABLX BB : Ablynx Starts P2 Study of ALX-0061 for Treatment of Lupus
- AGS BB : Ageas Completes EU250m Buyback, Now Holds 4.14% of Own Stock
- AMAG AV : AMAG 2Q Net Income Falls 38% as Aluminum Prices Cut Into Profit
- ATL IM : Atlantia 1H Ebitda Matches Est.; Italy Traffic +1.7% Y/y
- SPR GY : Axel Springer 2Q Sales Up 7%, Cons. Net Down 11%; Confirms Goals
- CS FP : Axa 1H Net In Line; Underlying Profit Beats; On Track vs Targets
- AZN VX : AstraZeneca Loses Bid to Block Mylan’s Generic Copy of Nexium
- BMW GY : BMW Ebit EU2.53b; FY Forecast Confirmed
- BON FP : Bonduelle Says FY Revenue Above Target, Support Profit Target
- BOSS GY : Hugo Boss 2Q Sales Beat Ests., Adj. Ebitda In Line
- ACA FP : Credit Agricole 2Q Net Income Beats; CET1 Ratio +20bps to 13.2%, Takes EU350M Litigation Provision
- DBK GY : Deutsche Bank Said to Be Probed by DOJ on Russia Mirror Trades
- OLE SM : Deoleo 1H Net Loss Narrows to EU15.5 Million
- DSM NA : DSM 2Q Sales EU1.97b, Est. EU1.96b (3 Ests.); Confirms Outlook, Revises Impact of FX, Vitamin E Prices on 2015 Ebitda
- DSV DC : DSV 2Q Net Beats Ests., Outlook Raised, Will Buy Back Own Shares
- EUZ GY : Eckert & Ziegler Bebig 1H Net Loss EU2.92m vs EU967,000 Loss
- EVK GY : Evonik 2Q Adj Ebitda in Line With Estimates; Raises 2015 Outlook
- FPE3 GY : Fuchs Petrolub 2Q Strong, Positive Shr Reaction Expected: Baader
- LHN FP : LafargeHolcim to Begin Squeeze-Out for Remaining Lafarge Shares
- MONC IM : NY Post article on PETA targets companies producing goose down --> Link : http://bit.ly/1KO9uFm
- OERL SW : Oerlikon 2Q Sales CHF781m; Est. CHF783.2m; Sticks to Outlook
- PFV GY : Pfeiffer Vacuum 2Q Sales Beat, Ebit Misses; Outlook Confirmed
- RBS LN : U.K. Said to Sell About 5,2% (600mil) of RBS at 325p to 330p a Share: Sky
- RR/ LN : Rolls-Royce Says It Held ‘Constructive’ Talks With ValueAct
- SAL IM : Salini Impregilo 1H Net EU60.3m vs EU76.5m Y/y
- SMIN LN : ValueAct Said to Buy Smiths Stake, Warming to U.K. Industrials
- SDA1V FH : Sponda 2Q Revenue Beats Estimates
- VIE FP : Veolia seeks to sell its 50% in Transdev - Les Echos
- WAC GY : Wacker Neuson 2Q Sales Rise 16%, Profit Down 15%; Confirms Goals