Dow-0.31% S&P-0.14% Nasdaq+0.18% Russell+0.78%
US Close slightly lower, locking its second consecutive weekly decline. Starting in Europe, Greece did not make today's debt payment to the International Monetary Fund, opting instead to bundle all June payments into a single installment of EUR1.60 billion, to be paid on June 19. This will allow discussions to continue, but the developments weighed on investor sentiment in Europe. After European markets closed, Greek Prime Minister Alexis Tsipras addressed the Greek parliament, saying the proposals received from the lenders are unrealistic and that debt restructuring must be included in any potential agreement. Fed has stated multiple times that the first fed funds rate hike will be contingent on data trends that show the inflation rate gradually moving toward its 2.0% target. The 0.3% increase in hourly wages and the 0.5% increase in aggregate earnings place the economy on that path. financials (+0.6%)—spent the day in positive territory with banks expected to benefit from rising rates at the longer end of the curve. For the week, the financial sector gained 0.8%. Volume were in line @ 766mil shares... Asia indices turned mixed in the early session with absence of Australia. Shanghai Composite rewrote its 7-yr high level despite that CSRC decided to revise margin trade and short selling rules last Friday. China reports its May trade balance data with exports was better than consensus but imports tumbled more than expected for the 7th consecutive decline. Japan Q1 final GDP expanded annualized 3.9%, much better than preliminary data of 2.4% rise. On a quarter-to-quarter basis, GDP grew 1.0%, higher than 0.6% preliminary reading. EU's Juncker said to have rejected phone talk request from Greece Prime Minister Tsipras as he failed to deliver alternative proposal. Some other comment from France Finance Minister Sapin saying there could be no agreement with Greece after the end of June. A new round of talks is underway Hollande, Merkel, and Tsipras.
Nikkei Flat Hang Seng +0.39% Shanghai +1.34%
Eur$+1.1113 GBP 1.5274 EURCHF 1.0454 JPY 125.53 RUB$56.08 WTI $58.68 (-0.78%)
S&P-0.06% EuroStoxx-0.03% Dax -0.16% SMI -0.04%
Macro :
- China’s May Exports Fall 2.8% Y/Y in Yuan; Est. 4% fall
- Japan Revised 1Q Annualized GDP Rises 3.9%; Est. +2.8%
- Greece Euro Exit Would Be ‘Worst Catastrophe’ for Greeks: Sapin
- Nouy Says ECB to Stress Test Banks in 2016: Welt am Sonntag
- ECB’s Nouy Says Greek Banks Are Solvent: Welt am Sonntag
- Greece to Seek Piraeus Port Binding Bids in Sept.: Kathimerini
- Russian Economy Minister Says GDP to Fall 2.5-2.8% in 2015: RIA
Keep an eye on :
- AC FP : Accorhotels Has Had Hard Time in 2015: CEO Tells France Inter
- ADS GY : Shareholders Say Adidas Should Weigh Ending FIFA Contract: Welt
- AERL LN : Etihad to Work W/ Air France, Selling Aer Lingus Stake: Reuters
- AIR FP : Airbus May End GKN Contract as A320 Parts Supplier: Sunday Times
- AIR FP : Air France-KLM May Passenger Traffic Rises 1.9%
- AIR FP : To develop reusable space rocket launcher that should be ready in 2025
- AREVA FP : Areva Will Need Recapitalization, French Finance Minister Says
- ATLN VX : Actelion Declines to Comment on Shire Approach Report http://reut.rs/1Qg3oDA
- AZM IM : Azimut CEO Says No Buyers in Sight for Co.: Milano Finanza
- BAS GY : BASF bid for Syngenta could require leverage jump to avoid dilution
- BT/ LN : BT Seen as Takeover Target for Deutsche Telekom: Telegraph
- CRG IM : Carige to Decide on Ponti, Creditis Sale End June: Repubblica
- CA FP : Carrefour CEO Says Diniz Hasn’t Asked For Board Seat: JDD
- DGE LN : Brazil Billionaire Lemann Said to Consider Buying Diageo: Veja -->DEO US +7.96%
- DGE LN : Diageo Bid ‘Highly Unlikely’ N-T; Buy TAP on Pullback: Evercore
- DBK GY : Deutsche Bank’s Jain, Fitschen Said to Forgo Remaining Pay
- FCA IM : Fiat CEO: Ferrari IPO Can’t Be Done Before Oct. 12
- FCA IM : Fiat’s Marchionne Sees Auto Industry Investors Interested in M&A
- GEA GY : GEA CFO Sees Two to Three Acquisitions in 2015: Boersen Zeitung
- GKN LN : Airbus May End GKN Contract as A320 Parts Supplier: Sunday Times
- JPM US : JPMorgan Planning $9b Bid for Worldpay, Sunday Times Says
- NOVN VX : Novartis’s Jimenez Says New Drug Pricing Models Needed: FT
- SGO FP : Apollo Said to Make Preferred Bid for Saint-Gobain’s Verallia, Apollo Said to Win Saint-Gobain’s Verallia With $3.27b Bid: Rtrs
- SHP LN : Shire Approached Actelion in Recent Weeks: Sunday Times http://reut.rs/1Qg3oDA
- SIE GY : Siemens, J-Power Systems to Build EU500m Power Interconnector
- SYNN GY : Syngenta Rejects Monsato’s Offer Including $2b Break-up Fee
- UHR VX : Swatch CEO Says SNB Has Wrong Leadership Team at Work: NZZ
- TATE LN : Tate & Lyle Wants EU Exit Unless Sugar Rules Changed: Telegraph
- TEC FP : Technip, Petrovietnam Fertilizer Sign Deal to Build $237m Plant
- TEVA IT : Teva Held 2.15% in Mylan as of June 4, According to RNS Filing
- TIT IM : Tel. Italia Should Play Role in Broadband Plan: Official to Sole
- WLT US : Could enter bankruptcy within the month - financial press
- VOW3 GY : VW’s Piech Successor Choice Needs Time, State Minister Says: FAZ
- WPP LN : Standard Life to Protest Over WPP Boss Sorrell’s Pay: Times