US Market closed lower, with Small caps underperforming, Market is waiting for NFPR after Draghi...mkt are stimulus dependant...china bounced on noise of PBoC new stimulus (Shanghai +18,3% since 20th of Nov), mkt was expecting for news of a potential sovereign QE program, but nothing was announced and mkt closed lower...Eight sectors finished in the red with energy (-0.9%) spending the day at the bottom of the leader board. The sector slumped as crude oil surrendered 0.8% to $66.75/bbl, but despite the decline, the energy sector will enter Friday with a week-to-date gain of 2.4% versus a slim 0.2% uptick for the S&P 500, financials (+0.1%), materials (+0.3%), and technology (+0.1%) registered modest gains...Volume were below average @ 780mil shares...VIX @ 12,38 -0,9%...US After Hours SYNA +9.6%, ULTA +6.2%, GPS +3.6%, FIVE -11.6%, SPWH
-9.0%, AEO -7.0%, SWHC -0.5% following earnings/guidance...A late US session report from renown Fed watcher Hilsenrath pointed to a research note from senior Fed economists declaring that the best time to start raising interest rates is right now. The study anticipates fed funds rate reaching 1.4% by the end of 2015, 2.6% in 2016 and 3.5% in 2017 - all of these are within 25bps of the latest median FOMC staff projections for fed funds made with the Sept 17th meeting....Asian Market mixed & Very Volatile ahead of US Eco numbers today and after poor US performance...After posting its biggest gain since Dec 2012 overnight, Shanghai Composite is down marginally in the afternoon session. Trading in A-shares has been volatile in morning hours, rising and then falling by over 2.5%, helped by financials...Speculation regarding further easing is also keeping the overall bullish sentiment high, with CASS researcher calling for a RRR cut and UBS forecasting another 40-50bps in interest rate easing by the end of 2015. China focus will turn to economic data for November next week, beginning with the expected release of trade figures on Sunday....see some flows from Retail investors...Nikkei +0.19% Hang Seng +1.14% shnaghai +1.32%...
Eur$1.2374 S&P -0.01% EuroStoxx +1.10% Dax +0.74% SMI +0.46%
Macro :
- Fed watcher Hilsenrath (WSJ): According to research from senior Fed economists, the "optimal" path for short-term rates is to start raising soon and complete the process quickly
- China Nov. Retail Auto Sales Rise 5% on Year, PCA Says
Keep an eye on :
- Defense Industry : France to Spend EU5b to Modernize Armed Forces: Les Echos
- Pharma : CDC Says U.S. Flu Season May Be Severe, Vaccines May Not Work
- French Infrastructure : France May Consider Renationalizing Highways, Le Parisien Says
- Luxury : PRADA PREVIEW: 3Q Results May See Further Weakness on H.K. Sales --> -1.77% in HK
- ACS SM : ACS Explores Listing for Mexico Unit Avanzia: Expansion
- AA US : Alcoa Unveils Next-Generation Aluminum Materials
- ALO FP : France’s Hollande, GE CEO Immelt Discussed Alstom Alliance
- ATC NA : Oi Poised to Approve Altice’s EU7.4b Offer for Portuguese Assets
- ATL IM : Generali Sells ~11.6m Atlantia Shrs at EU19.26/Shr
- AZA IM : Alitalia Gets EU100m in Financing From Investors: Sole
- BBY LN : Balfour Beatty Rejects John Laing’s GBP1b PPP Portfolio Offer
- BBRY US : BlackBerry CEO sees deals with Chinese bidders unlikely due to government scrutiny - Reuters
- BMW GY : Brilliance (1114 HK) +4.7%
- BKG LN : Berkeley Group Says On Track to Meet First Dividend Milestone
- EN FP : Bouygues Telecom Needs Structural Change, CEO Says in Tribune
- ENX FP : Euronext Joins SBF 120, CAC Mid 60 Indexes
- ERICB SS : Ericsson Gets Mixed Ruling in D-Link Wi-Fi Patent Case
- FCA IM : Fiat Chrysler Files to Offer 87m Shrs --> *EXOR TO BUY FCA CONVERTIBLE SECURITIES TO MAINTAIN 31% STAKE
- GSK LN : Glaxo Won’t Sell Established Products After Reviewing Bids
- GTO NA : Gemalto CEO Wants Ban on Short Selling, La Tribune Reports
- ICL IT : Potash Corp could increase stakes in four companies to gain control - Reuters
- ISP IM : Intesa Sanpaolo’s Messina Sees EU8b for Expansion, Standard Says
- QIA GY : Qiagen to Distribute Altons’s Realstar Ebolavirus RT-PCR Kit
- LEO GY : Leoni Says Dieter Belle to Become CEO in May
- MC FP : TAG Heuer Said to Plan Intel-Powered Smartwatch: BusinessInsider
- NUO NA : Nutreco Says SHV Offer Has High Deal Certainty for Shareholders
- RDSA NA : Shell to Seek Shallow Offshore, Onshore Deals in Mexico: WSJ
- RIO LN : Rio Chief Says Glencore’s Trading Philosophy Would Hinder Merger
- SAN FP : Sanofi’s Merial Buys Merck & Co. Plant in Puerto Rico; No Terms
- SBD LN : Songbird Says QIA, Brookfield Offer Doesn’t Reflect Full Value
- STM FP : Raises quarterly dividend 17.6% to $0.10/shr from $0.085/shr (implied yield 5.3%) - Div to be paid in December 23 2014 to shareholders of record on Dec 16th.
- TSCO LN : MORE: Tesco Seeks to Sell 5-6 Discount Stores in S. Korea: Daily
- UBSN VX : UBS France to Cut Jobs at CCR Asset-Management Unit, Echos Says
- UNA NA : Unilever contemplating buying high-end personal care brands - Reuters
- UCG IM : UniCredit May Close Sale of UCCMB Dec. 29: Messaggero
- VWS DC : Vestas CEO Sees Warranty Provisions Staying Low: Borsen
- VOW3 GY : VW Said to Conduct Formula One Team Feasibility Study: BBC
- YAR NO : Yara to Invest $220m to Expand Capacity at Swedish Site