US Market Closed Higher ahead of October NFPM , USD Stronger after ECB Comments, weighted on Crude again ($77.9) but Energy sector closed higher, cyclical sectors, consumer discretionary (+0.9%) and materials (+0.8%) displayed strength while financials (+0.1%) and technology (-0.1%) lagged, Rangold (+9.2%) numbers boosted the materials sector...volume were ahead @ 730mil shares...VIX @ 13.67 -3.53% ...US after Hours NAME +33.2%, ECOM +29.1%, ZNGA +6.4%, SLXP -37.3%,
PFMT -17.9% following earnings/guidance...Cleveland Fed President Mester unfurled her relatively hawkish stance at a speech in NYU, noting she would have liked for the "considerable time" language to be taken out of the FOMC statement. Mester added she would prefer not to wait until price objectives are reached before adjusting policy, stating 2% inflation would return by the end of 2016 and unemployment of 5.5% would be achieved next year. In the long run, Mester sees the Fed funds rate around 3.75%, which is notably below the 5.25% pre-GFC peak...USD/JPY briefly dipped lower by about 25pips after more neutral comments from Econ Min Amari calling both excessive rises AND falls in JPY as undesirable. Subsequently, Fin Min Aso took a more favorable stance on the issue, noting weak Yen's positive impact toward exports and the progress BOJ is making toward stopping deflation with extra easing measures. USD/JPY continued its upward push, approaching overnight 7-year high around 115.50...Nikkei +0.52% Hang Seng -0.32% Shanghai -0.44%
Eur$ 1.2379 S&P +0.22% EurosToxx +0.42% DAX +0.49% FTSE +0.33% SMI +0.29%
Macro
- S&P’s Kraemer Says ‘Writing of QE Is on the Wall’ for Europe {NSN NEN9CB6K50YX <go>}
- China Oct. Retail Auto Sales Rise 9.3% on Year, PCA Says
- Switzerland SA Oct. Unemployment Rate 3.2%; Est. 3.2%
- Soros Says Euro Faces Political Crisis, Le Figaro Reports
- OPEC May Pare Oil Production Amid Oil Price Below $70/Barrel:WSJ
- France to Seize Assets of Corrupt China Officials: Daily Link
- Europe Telcos Want EU Regulation of Facebook, Google: Rheinische
- Economy Minister Gabriel Plans Industry Alliance: Handelsblatt
Keep an eye on :
- AIR FP : Airbus Said to Reach Deal With Atlasjet for $3b Order: Reuters
- AKER NO : Aker Solutions 3Q Net NOK265m vs Est. NOK299m; Backlog NOK49b
- ALV GY : Allianz 3Q Net EU1.61 Bln Vs Est. EU1.57 Bln
- ANA SM : Acciona 9M Net EU149M Vs EU75M a Year Earlier
- MT NA : ArcelorMittal 3Q Ebitda Beats, Reiterates FY Ebitda Forecast
- ATO FP : Atos Closes New Credit Line; Delisting of Bull Planned, CFO Says
- CS FP : Axa Sells Unit in Hong Kong to Principal Financial Group
- BULL FP : Bull 3Q LFL Revenues Fall 5.3% on Weak Activity in France
- ELUX SS : AB Electrolux Cut to BBB From BBB+ by S&P, Outlook Stable
- ENE SM : Enel Sets Price for Endesa Retail Offer at Max. EU15.535/shr
- FNTN GY : Freenet 3Q Ebitda Climbs 4% to EU96.3 M
- EUCA GY : Euromicron 9M Sales Up 6%, Net Down 44%; Confirms 2014 Forecast
- DEC FP : VTB May Sell Stake in Outdoor Advertising Operator: Kommersant
- MOR GY : MorphoSys 3Q Rev. Up, Keeps FY Forecast; Fast-Track for MOR208
- PAL AV : Palfinger 9M Profit Net; Sees Lower Earnings on Slack Demand
- PUB FP : Sapient 3Q Adj. EPS Meets, Service Rev. Misses Ests.
- CFR VX : Richemont 1H Net Misses Ests., Oct. Sales Down 1% Constant FX, Says Cost Controls Have Been Put Into Place
- SKAB SS : Skanska 3Q Op. Profit, Revenue Beat Est.
- SREN VX : Swiss Re 3Q Net Income Beats Ests; Proposes 2 New Board Members
- TIT IM : Telecom Italia 3Q Sales Beat; Mobile Service Rev. Improves
- TKA AV : Telekom Austria to Sell Up to EU1b in New Shares
- UCB BB : UCB Adjusts 2014 Forecasts After U.S. Kremers Unit Sale
- MF FP : Wendel Says Well Placed to Meet Its 2013-2017 Objectives