Dow -0.23% S&P -0.28% Nasdaq -0.33% Russell -0.11%
US hold levels most of the day to finish lower by a sell off in the final minutes. A risk-off tone was present even before Tuesday's opening bell as investors eyed several upcoming macro events, including the UK general election, the European Central Bank meeting, and former FBI director James Comey's testimony before the Senate Intelligence Committee. All three events will take place on Thursday. The technology sector (-0.2%) played a huge role in keeping the broader market afloat for most of the day, thanks in large part to influential names like Apple (AAPL 154.45, +0.52), Microsoft (MSFT 72.52, +0.24), Alphabet (GOOGL 996.68, -7.20), and Facebook (FB 152.81, -0.82). Unfortunately, however, the aforementioned companies faded into the closing bell. Like consumer discretionary, the industrial sector (-0.6%) also underperformed amid broad weakness. The financial sector (-0.4%) was on track for a notable loss in early action, but eventually pulled itself together to finish just a step below the broader market. Most of the remaining laggards, including health care (-0.3%), consumer staples (-0.3%), utilities (-0.2%) and real estate (-0.4%), also finished roughly in line with the broader market. energy sector (+1.2%) registered a solid gain amid a positive performance from crude oil. The commodity. WTI crude finished higher by 1.5% at $48.13/bbl. US after hours CVNA +8%, KEYS +7% higher following earnings/guidance, NNVC +45% on HerpeCide updates... DLTH -11%, ALOG -10%, AMBA -6%, PLAY / OXM -3% lower following earnings/guidance. Asian equity markets are mixed and volatility is thinner despite 2nd straight day of losses on Wall St. Investors are bracing for China FX reserves and trade data, ECB decision, UK elections, and Congressional testimony of former FBI director about Pres Trump's potential involvement in campaign investigation all within the next 48 hours. In the corporate space, M&A speculation lifted shares of Vocus in Australia and Japan Display, with reported interest from KKR and Sharp respectively.
Nikkei +0.13% Hang Seng -0.09% CSI +1.18% S&P +0.10%
Eur$ 1.1265 CNH 6.7686 CNY 6.7937 JPY 109.52 GBP 1.2907 CHF 0.9631 RUB 56.4906 WTI$ 48.063 -0.27%
S&P +0.07% EuroStoxx -0.09% Dax -0.10% FTSE +0.05% SMI+0.11%
Macro :
- Muddy Waters’s Block, Oasis’s Fischer to Speak at Sohn Hong Kong
- Saudi Dispute With Qatar Has 22-Year History Rooted in Gas
- Biggest Middle East Ports Shun Qatar as Saudis Tighten Isolation
- July WTI crude oil futures fall back below $48/barrel following weekly API storage data
- Stay Underweight Fixed Income in Favor of Stocks: State Street
Keep an eye :
- AC FP : Hotel Stocks Extend Drop After Terror Attacks, Travel Ban Tweets
- AF FP : Air France’s ‘Boost’ Could Ply Atlantic as Well as Serving Asia
- AKZA NA : PPG CEO Doesn’t Rule Out Future Akzo Nobel Approach, FD Reports
- BAYN GY : Bayer to Cut Covestro Stake via Stock, Convertible Offerings,
- BBVA SM : EU Said to Give Santander, BBVA 24h for Popular Bid:Confidencial Bayer Sells 8.5% of Covestro Shares at EU62.25 Apiece
- CA FP : Carrefour to Name Bompard CEO Effective June 16: Le Figaro
- CBK GY : Commerzbank Unit Said Interested in Deutsche Bank Polish Assets
- 1COV GY : Bayer to Cut Covestro Stake via Stock, Convertible Offerings, Bayer Sells 8.5% of Covestro Shares at EU62.25 Apiece
- EDF FP : EDF Gets Pre-Report Reassurance on Flamanville From ASN: Figaro
- EDF FP : EDF Energy Services Buys Engineering Co. Imtech UK and Ireland
- EDF FP : Edison likely to sell LNG and transmission assets to Snam rather than Macquarie
- EOAN GY : EON, RWE Lead DAX as Investors See Nuclear Ruling Opportunity
- RF FP : Credit Agricole Selling Eurazeo Stake to JCDecaux for EU790.5m
- GYC GY : Grand City Will Replace Zeal Network in SDAX
- HAV FP : Vivendi Agrees to Buy Bollore’s 60% Havas Stake for EU9.25/Share
- HZNP US : Horizon Pharma Up; Said to Be Up for Sale, Fly Citing Betaville
- HSBA LN : HSBC Faces Possible Disclosure on Alleged Forex Manipulation: FT
- KUD SW : Kudelski Won’t Move HQ to U.S. From Switzerland, CEO Tells NZZ
- MAERSKB DC : Maersk Line Can’t Transport Container Cargo to Qatar
- POP SM : Santander Said to Eye Stock Sale as Part of Possible Popular Bid
- POP SM : ECB Determined Banco Popular Espanol Was Failing, Likely to Fail
- RDSA NA : Royal Dutch Shell Outlook Still Neg by Fitch; Ratings Affirmed
- RWE GY : EON, RWE Lead DAX as Investors See Nuclear Ruling Opportunity
- SAN SM : Santander Said to Eye Stock Sale as Part of Possible Popular Bid
- SIKA VX : Sika Says Schenker-Winkler Challenges AGM Board Elections
- SAZ GY : Stada Bidders Said to Weigh Extending Deadline as Take-Up Lags
- STL NO : Statoil Elects Jon Erik Reinhardsen as Chairman
- TEF SM : Telefonica, CaixaBank JV Starts Granting Consumer Loans: Cinco
- VIV FP : Vivendi Agrees to Buy Bollore’s 60% Havas Stake for EU9.25/Share
- VOC AT : KKR Makes Indicative Cash Offer for Vocus at 22% Premium