Dow+1.13% S&P+0.50% Nasdaq-0.28% Russell+0.15% VIX 21.65 (-1.5% after a 30% intraday)
US Market closed higher after a volatile session, mkt sold off after ISM, but bounce back with oil, WTI crude closed its session 8.0% higher at $32.29/bbl. Dudley stated that financial conditions have tightened since December's rate increases and that additional strength from the dollar could have "significant consequences" for the U.S. economy. Commodity-sensitive materials (+3.3%) and energy (+4.0%) were able to top the leaderboard throughout the day while heavyweights financials (-0.1%), consumer discretionary (-0.3%), and technology (-0.4%) underperformed. IBB+1.2%. Volume in line with average at 1bil share. US After Hours GLUU +24.9%, OSUR +22.7%, CPST +17.2%, TBI +13.6%, SEDG +12.5%, GPRO -9.2%, AMBA -2% (in sympathy with GoPro earnings), VHC +88.1% on AAPL Patent payment, VRNG+24.9% on VHC News. Asian equity markets are generally higher with most pronounced gains in Australia and the materials space. Shares of BHP and Rio Tinto are up over 8%, while Woodside Petroleum up over 5%, tracking an abrupt upward inflection in the latter part of the US session. Some of the catalysts discussed include realization that the Fed may not be particularly aggressive, particularly after New York Fed's Dudley said board members will take deterioration in financial markets more seriously if tightening in financial conditions continues. Goldman Sachs also revised view on the next Fed rate hike to June from March. Oil prices were also up nearly 10% on reports that Venezuela, Russia, and Iran have endorsed an emergency meeting. In China, PBOC research bureau chief Lu said the room for monetary policy is relatively small given the risk of cuts in RRR or interest rates fueling financial risk accumulation and outflow pressure. Lu added there were increasing risks in corporate debt space. In Japan, BOJ Gov Kuroda continued to defend the latest negative rate policy, pledging to monitor the bond market while adding there is little risk of negative rate policy thwarting JGB purchases. Kuroda reiterated there was no limit to QQE and that BOJ will not hesitate to ease policy further.
Nikkei -0.85% Hang Seng +1.38% Shanghai +1.56%
Eur$1.1078 CNH 6.6161 CNY 6.5778 JPY 117.95 GBP 1.4580 CHF 1.0062 RUB$ 75.8354 WTI $32.95(+2.05%)
S&P +0.56% Eurostoxx +1.52% Dax +1.59% SMI +1.28%
Macro :
- Hollande Says Doesn’t Want New Talks on UK Demands: AFP
- Brazil Said to Not Rule Out Rate Hikes in Coming Meetings: Rtrs
Keep an eye on :
- ABG SM : Abengoa to Give Banks Debt Plan Details Next Week: Expansion
- MT NA : Vale, Arcelor Given More Time to Appeal in Tubarao Case: Valor
- ATEA NO : Atea 4Q Revenue Rises to NOK8.61b, Dividend NOK6.5 Per Share
- PMI IM : Popolare Milano, Popolare Said to Aim for Deal by March: Ansa
- BNP FP : BNP 2014 Accord Had Possible New Fine Clause: L’Echo
- BKG LN : Berkeley, Land Secs Among Transport for London Property Partners
- BOL FP : Sierra Leone to Get 20% Stake in Bollore Freetown Terminal
- CGG FP : CGG Can Endure Oil Slump Lasting to 2017 After Capital Hike: CEO
- CSGN VX : Credit Suisse Investment Bank Remains ‘Core’ to Strategy: CEO, CS Litigation Items CHF564m, Restructuring Costs CHF355m
- AM FP : Dassault Systemes FY Revenue In Line With Estimates
- DNB NO : DNB 4Q Net Interest Income Rises In Line W/ Est.; Div. Raised
- FINGB SS : Fingerprint Cards Updates Revenue Forecast, Sales Beat Ests.
- GEA GY : GEA Sees 2016 ‘Moderate’ Sales Growth in Reported Terms
- INGA NA : ING Group 4Q Net Income Beats; Plans 2015 Total Dividend 65c
- INW IM : Inwit Will Consider an Extraordinary Dividend in Future: CEO
- SDF GY : Mosaic Seeks to Cut Phosphate Production; Peers May Move
- LHN VX : LafargeHolcim Proposes Divesting Lafarge India as New Remedy
- LAND LN : Berkeley, Land Secs Among Transport for London Property Partners
- LNC FP : Les Nouveaux Constructeurs: Visibility Good as Market Improves
- MAERSKB DC : Dong Refused to Sell Oil Unit as Maersk Bid Too Low: Berlingske
- MOBB BB : Mobistar Sees 2016 Adj. Ebitda EU270m-EU290m; Est. EU288m
- MUV2 GY : Munich Re 4Q Prelim. Operating Result Beats Estimates, Raise dvd to €8.25 (Est.€8) from €7.75
- ORA FP : Orange CEO Sees ‘Positive’ Bouygues Talks: Reuters
- UG FP : Peugeot to Cut 700 Jobs at Poissy Plant on Voluntary Basis: AFP
- RNO FP : Renault Formula One Return to Cost EU300m, Les Echos Says
- ROG VX : Roche Potential PACB Deal Unlikely Until 2H16, 2017: Cantor
- SCYR SM : Sacyr Seen Cutting 350-420 Construction Jobs: Finanzas.com
- SCMN VX : Swisscom FY Net Income Below Ests.; Keeps Dividend Unchanged
- SKAB SS : Skanska 4Q Op. Profit Beats Est.; Dividend Raised
- SDA1V FH : Sponda Buys 6 Properties in Helsinki, Plans Rights Offer
- SHP LN : Baxalta Files to Offer Up to $100m of Stock Via JPMorgan
- STL NO : Statoil 4Q Adj. Net Income NOK1.6B; Est. NOK3.0B, Net Income Misses Estimates; 22c Div Maintained
- TEF SM : Telefonica to Get More Non-Fiber Sharing Cities: Expansion
- TIE1V FH : Tieto Beats Ebit Ex-Items Ests.; Sees Ebit Increasing in 2016
- TRELB SS : Trelleborg Sees 1Q Demand on Par With 4Q or Slightly Weaker
- VOW3 GY : EU Seeks Update From VW, German Minister on Car CO2 Emissions