Dow-0,27% S&P-0,27% Nasdaq-0,43% Russell-0,27% VIX +2,61% (17,49)
US MArket Closed Lower, S&P managed to gain 3% on the week, Nasdaq 2,4%, Equities climbed on the open on better NFP, the report caused participants to reassess their expectations for the timing of the first fed funds rate hike. On that note, The Wall Street Journal's Jon Hilsenrath said today's jobs report increased the chance that the Fed will alter the language that indicate plans to remain ‘patient' before hiking rates. In addition, this year's FOMC voting member and Atlanta Fed President Dennis Lockhart said liftoff should begin "around mid-year, or a little later." S&P Downgrade of Greecce to B- and Dijsselbloem comments ...Telco & Financials were better performers, Tech underperformed, Volume were above average @ 900mil shares...YTD Perf Dow Unchged, S&P -0,2% Nasdaq+0,2% Russell +0,2%...After last week's surprising contraction in China official manufacturing PMI - the first in 2 years - latest trade figures released over the weekend are showing few signs of improvement. While the headline trade balance saw a record-high surplus, it was primarily the result of the biggest y/y decline in imports in over 5 years, as exports also showed a marginal drop. Shipments to US were up 4.7%, but imports to Europe fell 4.6% and to Japan by a whopping 20%. Slump in demand for raw materials was still the culprit on the imports side, as iron ore arrivals fell 9.5% in volume and 50% in value. Likewise, crude oil imports were down 8% in volume and 42% in value... Effectiveness of weaker Yen in restoring balance of payments remains questionable, as Japan's current account surplus shrank for the 4th straight year to its smallest level on record in 2014. Analysts noted persistent trade deficit contributing to the decline, but also forecasted recovery in 2015 due to much cheaper oil prices. Likewise, BOJ's Morimoto said it was more critical to watch broader trends of prices rather than scrutinize CPI levels, but also added the CPI measurement would begin to rise as base effect of lower oil dissipates...Greek PM Tsipras took a notably more hard line in a weekend speech, stating Greece does not want a debt extension but rather a "bridge program" to get out from the yoke of austerity. In the mean time, Tsipras reiterated plans to return minimum wage to €750/mo from €580/mo by 2016, reopen state media, go after tax dodgers, suspend fire sale of state assets, and grant relief to elderly pensioners. Furthermore, Tsipras renewed talks of going after WW2 "reparations" from Germany, which the party has previously estimated to be over €160B. Syriza's Fin Min Varoufakis was just as blunt, warning the euro zone would likely collapse if Greece was forced out of the union, as borrower states discover "it is impossible to remain inside the straitjacket of austerity." To that end, latest polls from Spain saw support for the anti-austerity Podemos party at 27.7%, well ahead of the ruling centre-right People's Party and the Socialists' at 20.9% and 18.3% respectively.
Nikkei +0.36% Hang Seng -0.44% Shanghai +0.28%
RUB $66.41 WTI $51.93 (+0.46%) EURCHF 1.0505
EUR$ 1.1333 S&P -0.34% EuroStoxx -1.26% Dax-0.80% AMI -0.62%
Macro :
- Further SNB Action Would Be ‘Dramatic,’ ZKB CEO Tells NZZ
- Erasing Greek Debt Isn’t Solution, BNP Paribas CEO Tells JDD
Keep an eye on :
- ALO FP : Toshiba in Talks to Expand Cooperation With GE, Alstom: Sankei
- AIR FP : Airbus Agrees on Royalty Payment Cut With U.K.: Sunday Times
- AF FP : Air France-KLM Says Total January Passengers Rise 1.4% to 6.2m
- AREVA FP : Areva to Weigh Selling More Than EU1b of Assets: JDD
- CS FP : Axa CEO Supports ECB’s Plan to Buy Bonds, Sueddeutsche Says
- BINCK NA : BinckBank Adj. 4Q Adj. Profit EU12.7m vs EU22.7m; Defers Target
- BMPS IM : Paschi Waiting for ECB Decision Before Finalizing Capital Plan
- BNP FP : BNP Paribas Top Executives’ Bonuses Cut After U.S. Fine: FT
- CRG IM : Intesa Not Interested in Carige, Gros-Pietro Says, Carige Foundation Considers Sale of 19% Stake in Bank: Ansa
- CU FP : Caisse des Depots Tenders 5.3% Club Med Stake to Gaillon Offer
- GIL GY : Elliott Says Stake in Mori Seiki AG Remains Above 5%
- HSBA : HSBC List Shows Names From Bowie to Drug Lords Banked on Secrecy
- ENI IM : Eni CEO to Il Sole: Oil Prices Will Rise ‘At a Certain Point’
- FB US : Facebook Plans to Embed WhatsApp in Its Social Network: Bild
- LEG GY : LEG Immobilien does not see itself as takeover candidate - Boersen-Zeitung
- NOVOB DC : Novo Nordisk to Seek IPO of NNIT A/S Unit
- PMI IM : Pop. Milano May Play Role in Consolidation If Opportunities
- RLIA SM : Hispania considers raising offer for Realia - El Confidencial
- RBI AV : Raiffeisen to Post Loss of Almost EU500m, Der Standard Reports
- ROG VX : Roche’s Lucentis Wins Expanded FDA Approval to Treat DR in DME
- SAN SM : Santander Says 6M Shares Transferred to Paloma O’Shea
- SCRG SW : Sunrise Debt Load Cut by 41% After IPO, CEO Tells SZ
- SCMN VX : Swisscom CEO Tells F&W There’s No Reason to Increase Dividend
- SIK NA : Sika Holder SWH Asks Takeover Board to Rule on Saint-Gobain Bid
- VK FP : *VALLOUREC MAY BECOME VULNERABLE TO M&A APPROACH: CREDIT SUISSE
- VOW3 GY : Volkswagen Won’t Close Plants to Save Costs: Automobilwoche
- VOLVB SS : Cevian Becomes Largest Volvo Shareholder, Dagens Industri Says