Dow -0.25% S&P-0.22% Nasdaq -0.46% Russell -0.21%
US Market closed lower after ECB Meeting. During his press conference, President Draghi noted that the central bank did not see a need to expand the asset purchase program at this time. However, the central bank did affirm plans to continue purchasing assets through March 2017 or beyond, if needed. Equities retraced opening losses through the first half of trade, benefiting from a rally in crude oil futures. The energy component rallied throughout the session as investors pored over a better-than-expected reading of the Department of Energy's weekly inventory data. The EIA reported that crude oil stockpiles fell by 14.51 million barrels (consensus: +0.22 million) while gasoline inventories declined by 4.21 million barrels (consensus: -0.71 million). WTI crude ended the day higher by 4.8% ($47.66/bbl; +$2.18). Seven sectors ended in the red with consumer staples (-0.5%), consumer discretionary (-0.8%), and technology (-0.9%) leading to the downside. Conversely, health care (+0.1%), utilities (+0.4%), and energy (+1.7%) topped the board. AAPL -2.6%, HPE -3.2%, NKE -2.7%. Biotechnology demonstrated relative strength, evidenced by the 0.7% gain in the iShares Nasdaq Biotechnology ETF (IBB 288.03, +1.93). The sub-group finished ahead of the broader health care space (+0.1%) as Alexion Pharmaceuticals (ALXN 130.06, +4.97) outperformed. Meanwhile, Mylan Labs (MYL 40.57, +0.26) rebounded 0.7%. In the broader sector, Eli Lilly (LLY 79.89, +1.30) jumped 1.7% after being upgraded to "Overweight" at JP Morgan. Volume were in line with average @ 818mil shares. US After Hours FNSR +13%, ZUMZ +4% following earnings/guidance/SSS, LPTN +28% on merger news... VMEM -25% following earnings/guidance, WMB -3% after Enterprise drops pursuit. Asian equity markets are mixed in the wake of modest losses in US hours. Korea's Kospi is under particularly heavy pressure amid continued saber-rattling by the North, this time with another nuclear test and pledges to continue to develop its nuclear arsenal. China markets fared better, with soft CPI data potentially renewing the case for additional policy easing by the PBoC. In Japan, BOJ Gov Kuroda held one of his regular lunch meetings with PM Abe. Afterwards, Kuroda said he has explained the central bank's comprehensive policy review to Abe, but he did not offer any comments on monetary policy.
Nikkei +0.11% Hang Seng +1.71% CSI -0.14% Shanghai -0.08%
Eur$ 1.1279 CNH 6.6890 CNY 6.6785 JPY 102.12 GBP 1.3327 CHF 0.9719 RUB$64.0053 WTI$47.23(-0.82%)
S&P +0.02% EuroStoxx +0.03% Dax -0.06% SMI +0.14%
Macro :
- Fed Urges Congress to Ban Banks From Buying Stakes in Companies
Keep an eye on :
- A2A IM : Telecom Italia Signs MOU With A2A on Fiber Network: Sole
- AI FP : Air Liquide Completes Sale of U.S. Assets to Matheson Tri-Gas
- BAYN GY : Monsanto-Bayer Talks Said to Be ‘Strongly Progressing’: Fox
- BP IM : Banco Popolare, Pop Milano Merger Approved by Bank of Italy
- BOI FP : Boiron 1H Net Rises to EU26.5m
- BMPS IM : Boiron 1H Net Rises to EU26.5mMonte Paschi Says CEO Viola Agrees to Step Down
- BMPS IM : Monte Paschi’s Board to Meet by Sunday to Name New CEO: Sole, May Name BAML’s Marco Morelli as CEO: Reuters
- BRBY LN : Burberry Cuts Prices in Hong Kong and China After GBP Slide:SCMP
- CBK GY : Commerzbank to Restructure Small, Medium Bus. Dept:Handelsblatt
- NOVOB DC : Novo Nordisk Recalls Six Batches of Glucagen Hypokit in U.S.
- RUI FP : Rubis 1H Net Beats, Co. Sees 2H Consolidating Growth Over FY
- SAF FP : Safran I&S attracts interest from Impala - Les Echos
- SHA GY : Car-Parts Maker Schaeffler Ready to Pursue Acquisitions - http://bit.ly/2bX37rl
- SESG FP : SES to Build New Teleport on Isle of Man
- SNAPCHAT IPO : Snapchat Said to Hire Morgan Stanley for Debt Financing: Recode
- TEF SM : Telefonica steps up Telxius Telecom's offering, to be launched on 16 September - El Confidencial
- TIT IM : Telecom Italia Signs MOU With A2A on Fiber Network: Sole
- UCG IM : UniCredit Said to Consider Capital Increase of Up to EU10b: FT
- VIV FP : Metro-Goldwyn-Mayer Cuts 2016 Adj Ebida View on ‘Ben-Hur’ Charge
- VOW GY : VW Rejects EU Demand to Compensate European Customers: Welt