Dow-0.31% S&P-0.32% Nasdaq-0.46% Russell-0.82%
Us Marker Closed lower. slide in crude oil prices, hawkish remarks Boston Fed President Eric Rosengren (an FOMC voter), and the underperformance of the heavily-weighted technology (-0.5%), financial (-0.5%), and industrial (-1.0%) sectors were main factors. WTI crude ended its day lower by 2.8% at $35.72/bbl. volume were again on the light side with 801mil shares. US After Hours INVT +26.5% (earnings), AGN -21% following Secretary Lew's comments on tax inversion; TSLA -4% after missing Q1 delivery guidance,TSLA -4.4% (Misses Q1 delivery guidance due to Model X production issues; reaffirms FY16 delivery guidance, DIS -1.5% (COO Thomas Staggs to leave the company). Asian equity markets are down across the board with the exception of Shanghai Composite which returned from yesterday's holiday to added investor pressure for expanded fiscal stimulus. Nikkei225 is the biggest loser, with USD/JPY falling to a 2-week low below the ¥111 handle. In China, the PBoC has set CNY weaker for the first time in 5 sessions, just as an advisor with the central bank warned that easing room for PBoC is becoming more limited even with significant scope for fiscal adjustment. Japan saw surprisingly strong demand in the 10-year JGB auction despite the negative yields for the 2nd straight months. Also, as speculated, govt officials announced the details of frontloaded FY16/17 budget, with 80% of infrastructure spending expected in the Apr-Sept half. BOJ Gov Kuroda continued to defend QQE, pointing to oil price decline as the key reason for low inflation and adding that technically it is possible to push rates further into negative territory.
Asian Corporate Side : Fast Retailing Co 9983.JP -3.1% (March Uniqlo result)
Nikkei -2.58% Hang Seng -1.38% Shanghai +1.44%
Eur$1.1384 CNH 6.4766 CNY 6.4698 JPY 110.76 GBP 1.4247 RUB$ 68.7885 WTI 35.50-0.50%
S&P-0.40% EuroStoxx -1% Dax -1.27% SMI -0.78%
Macro :
- Treasury Targets Inversions, Earnings Stripping in New Rules
- ‘Panama Papers’ Train New Spotlight on Global Elites’ Wealth
- Shareholder Activism Might Have Antitrust Problems: Matt Levine
- SNB’s Jordan Says Negative Rate Key, Further Easing Possible
Keep an eye on :
- AC FP : AccorHotels Acquires Onefinestay for EU148m
- AIR FP : Airbus Export-Credit Funding Case Referred to U.K. SFO: WSJ
- ALV GY : AGF Management March Assets Under Management C$32.7b
- DGE LN : Diageo to Review Tequila Capacity in Mexico Immediately: CEO
- GAM SM : Gamesa Wins EPC Contracts For Two Wind Farms in Egypt
- GTO NA : Gemalto to Propose Vallee as Successor to CEO Piou
- NDA SS : Nordea CEO Says Bank Will Cease All Dealings With Panama Firm
- OLE SM : CVC’s Deoleo Said to Weigh Capital Increase as Earnings Tumble
- UG FP : Peugeot Citroen Seeks Average 4% Recurring Op. Margin 2016-18, Peugeot Sees Automotive Operating Margin Average 4% in 2016-18
- PHIA NA : Philips Offers EU600m Loan With Sale of Lighting Unit: Telegraaf
- SHA GY : Schaeffler Holding sells 94.4 million non-voting shares of Schaeffler AG 2016-04-4, shares priced @ €13.10
- SCHPP VX : Schindler to Sell Its Japanese Operations to Otis Japan
- SIE GY : Siemens Said Among Parties Interested in Emerson Network Unit
- VIV FP : Vivendi, Mediaset Deal Announcement Expected Within Days: Echos