Dow -0.20% S&P -0.31% NAsdaq -0.58% Russell -1.17%
Stocks started strong out of the gate following an upbeat ADP, but the hawkish tone of the FOMC Minutes prompted an afternoon retreat. lack of buying conviction among small caps pointed to the fact that not all market participants bought into the positive narrative attached to the better than expected ADP reading. Most sectors finished today's session in negative territory with only a couple countercyclical groups--utilities (+0.5%) and real estate (+0.2%)--escaping with wins. worth pointing out that crude oil settled 0.3% higher at $51.14/bbl despite a bearish inventory report from the Energy Information Administration. US After Hours YUMC +10.9%, BBBY +4% following earnings/guidance, URRE +14% on lithium project update... RECN -9% on earnings/strategic initiatives implementation. Asian equity indices are trending lower as risk aversion flows that struck sentiment in the 2nd half of the US trading session reverberate in Asia Pacific. Later in the Asia session, NY Times reported that Pres Trump may try to push through his infrastructure package as part of a bundle with healthcare or tax reform. S&P futures continued to slide to 1-week lows, gold tested $1260, and Treasuries rallied. Nikkei225 is again leading the decliners as USD/JPY fell over 40pips from the highs, while Shanghai Composite remains resilient on support from economic zone speculation. North Korea overnight missile launch related tensions continued to simmer today, as South Korea official said he would discuss the matter with US and Japan. Asia Development Bank releases its latest outlook report for the region, maintaining 5.7% target this year and next. China 2017 GDP view was raised to 6.5% from 6.4% before a 2018 slowdown to 6.2%. ADB noted risks of capital outflows due to US policy tightening.
Nikkei -1.62% Hang Seng -0.58% CSI +0.26% Shanghai +0.37%
Eur$ 1.0671 CNH 6.8900 CNY 6.8992 JPY 110.43 GBP 1.2487 CHF 1.0033 RUB 56.42 WTI$ 50.87 -0.55%
S&P -0.14% EuroStoxx -0.44% FTSE -0.80% Dax -0.53% SMI -0.82%
Macro :
- FOMC Favors Primarily Tapering Reinvestments: March Minutes
- OPEC Extending Cuts Should Send Prices to $55/Bbl: Sheffield
Keep an eye on :
- AKZA NA : PPG Offers Listing in Amsterdam in Case Akzo Deal, FC Cites CEO
- AMUN FP : Amundi Completes EU1.4b Rights Offer to Finance Pioneer Buy
- BASLN SW : Basilea Says Data Indicate Tumor-Targeting Properties of Drug
- BAYN GY : MON/Bayer Said to Reach Out to Buyers for EU Remedy: DealRep
- BNP FP : French Banks Deserve Contructive View; BNP, Agricole Best: Citi
- CHR DC : Chr. Hansen 2Q Ebit Broadly In Line With Ests; Keeps FY Outlook
- DENERG DC : DEA Said to Make Bid for Dong’s Oil Assets, Borsen Reports
- DBK GY : Deutsche Bank Said Near Full Takeup for $8.5 Billion Share Sale
- GLPG NA : Galapagos Says Filgotinib Dosing Means $10m Payment From Gilead
- GXI GY : Gerresheimer 1Q Adj. Ebitda Misses Est.
- HSBA LN : Swiss Court Rules France Mustn’t be Helped over HSBC: Figaro
- IIA AV : Immofinanz Reports Settlement in Principle With Investors
- NOVN VX : Novartis to In-License ECF843 for Ophthalmic Indications
- FP FP : Total to Open 110 Natural Gas Stations in France by 2026: Echos
- UNA NA : Unilever to Exit Spreads, Buy Back EU5B Shares, Raise Dividend
- VIV FP : Vivendi To Seek Majority on Telecom Italia Board, Figaro Says
- VOD LN : Vodafone May Consolidate Sub-Saharan Africa Units, B.Day Reports
- WDI GY : Wirecard Proposes Div. Increase to EU0.16, Below BDVD Forecast