Dow -4.15% S&P -3,75% Nasdaq -3,90% Russell -2,93%
Stocks closed sharply lower on Thursday, losing ground for the fifth time in six sessions. The selling was broad-based and indiscriminate as all 11 S&P 500 sectors finished deep in red figures. The losses for the sectors ranged from 1.2% (utilities) to 4.5% (financials). Several factors precipitated Thursday's sell-off:
* Budding angst surrounding the reported two-year budget agreement in the Senate
*The lack of key sector leadership. The financial (-4.5%), information technology (-4.2%), and consumer discretionary (-4.0%) sectors were today's biggest laggards.
* Comments from Fed heads, who continue to emphasize a likely path of gradual rate hikes and who have minimized recent market volatility.
* Following the trend of the tape, which has been biased downward at a time when many participants have been hoping for a rebound.
Trading was volatile, as it has been in each session this week, with the S&P 500 covering 105 points from its high (+0.1%) to its low (-3.8%). Twitter (TWTR 30.13, +3.22) spiked 12.1% to its best level since mid-2015 after reporting better-than-expected earnings and revenues and achieving GAAP profitability for the first time ever. Meanwhile, Tesla (TSLA 315.70, -29.34) dropped 8.5% despite reporting above-consensus earnings and saying that it's on track to meet its goal of producing 5,000 Model 3 cars per week by the end of June US After Hours MOBL +16%, FEYE +11%, NVDA +8% higher, while EXPE -19%, ZG -9%, LGF.A -5% lower following earnings/guidance. The sell-off in global stocks that briefly looked to have ended mid-week has come back, tipping markets from the U.S. to Asia into declines exceeding 10 percent from their January highs. China, where retail investors dominate, got hit particularly hard Friday. Japan’s equity benchmarks were down over 3 percent Friday, though pared the worst of its losses. South Korea’s index fell almost 2 percent and Hong Kong’s slid almost 4 percent. Onshore China gauges at one point exceeded 5 percent losses on the day. U.S. futures were higher, after fluctuating between gains and losses
Nikkei -2.32% Hang Seng -3.13% CSI -4.27% Shanghai -4.05% Shenzen -3.19%
Eur$1.2273 CNH 6.3283 CNY 6.3108 JPY 109.06 CHF 0.9373 RUB 58.1615 WTI$ 60.59 -0.92%
EuroStoxx FTSE -0.51% CAC -0.45% Dax +0.27%
Macro :
- Senate Passes Bill to End Government Shutdown, Sending to House
Keep an eye on :
- ABE SM : Atlantia Is Said to Have Got Funding to Raise Abertis Bid: Rtrs
- ABN NA : ECB, DNB Are Said to Investigate ABN Amro Supervisory Board: FD
- ALO FP : Alstom Wins Tender To Supply Locomotives To ONCF: Medias24.com
- AMUN FP : Amundi Targets 2020 Net Income of At Least EU1B
- AREVA FP : Areva, Siemens, TVO to Discuss Finnish Reactor Spat, Echos Says
- BEFB BB : Befimmo Full Year Adjusted EPS Forecast Misses Estimates
- CEC GY : Ceconomy Bets on Cost Cuts to Claw Back Profits During Year
- CBK GY : Commerzbank Downside Risk to Revenues Has Fallen - Fitch
- DIX GY : DIC Asset Sees FY Lease Rental Revenue EU95 Mln To EU98 Mln
- DUNI SS : Duni Fourth Quarter Net Sales SEK1.25 Bln
- FINGB SS : Fingerprint Cards Fourth Quarter Operating Loss SEK40.6 Mln
- FLOW NA : Flow Traders Full Year Net Trading Income Meets Estimates
- MB IM : Mediobanca Lifts Dividend Payout Target as Profit Beats Est.
- NPRO NO : Norwegian Property Fourth Quarter Revenue 2.0% Below Estimates
- OR FP : L’Oreal in Focus as CEO Cites Nestle Unit Interest: Jefferies
- OR FP : L’Oreal FY Operating Profit Rises 3%; 4Q LFL Growth Beats Ests.
- RUBIS FP : Rubis Full Year Revenue Meets Estimates
- SHP LN : Shire Therapy for Crohn’s in Children Gets FDA Orphan Status
- TEVA US : Teva Cut to Junk by S&P on Increasing Volatility
- TDC DC : TDC’s Chairman Is Upset Over Leak of Offer to Press: Berlingske
- UMI BB : Umicore Full Year Capital Expenditure 1.2% Below Estimates
- UMI BB : Umicore Places 22.4m Shrs With Investors at EU39.80/Shr
- UNI IM : Unipol Full Year Loss EU345.8 Mln
- US IM : UnipolSai Full Year Net Income 3.4% Above Estimates
- WMT US : Walmart Is Said in Talks to Spend Billions for Flipkart Stake
- VOW3 GY : VW CFO Sees ‘Strong Basis’ for 2017 Result On Record Deliveries