Dow+1% S&P +0.99% Nasdaq +1.34% Russel +1.29%
US MArket closed higher, Equity indices rallied throughout the morning after the combination of yesterday's FOMC policy statement and today's economic data set the tone for interest rates to remain at their current levels for longer. Stocks extended their gains in the early afternoon once Germany's Die Zeit reported that Greece is on track to receive an extension until the end of the year without the involvement of the International Monetary Fund. However, that report was struck down promptly as German Chancellor Angela Merkel said she is only aware of the proposal that was brought forth by the creditors. Furthermore, Reuters reported European Central Bank member Benoit Coeure was asked if Greek banks will be able to open tomorrow, to which he responded, "Tomorrow, yes. Monday, I don't know." However, the ECB was quick to deny issuing this warning. The energy sector (unch) surrendered its gain ahead of the close even though crude oil added 1.1%, settling at $60.42/bbl. In other commodities, gold futures jumped 2.1% to $1202/ozt, contributing to a 1.2%
gain in the Market Vectors Gold Miners ETF (GDX 19.09, +0.23). Volume were above average @ 830mil shares...US After Hours FNSR +1.1%, LIFE +0.7%, CO +0.5%, HWAY -26.0%, SWHC -3.7%, RHT -1.5% following earnings/guidance...Asian indices are generally higher, picking up on the firm tone from Wall St where traders continued to express a bullish post-FOMC view. Shanghai Composite is once again an outsized decliner however. After a near-4% slide overnight, the index fell by as much as 3% in the afternoon session. The lows also corresponded with the 10% drop from its high, which is widely considered to be the indication of a technical correction. Overnight, local press report put some of the blame for the selloff on the large IPO pipeline this week freezing up as much as CNY7T in investment funds. After much speculation that today's BOJ decision will reveal a growing rift within the policy board, the announcement produced no such ripple.
Nikkei +0.83% Hang Seng +0.94% Shanghai -3.27%
Eur$ 1.1343 JPY 123.14 CHFEUR 0.9557 GBP 1.5873 RUB $53.4064 WTI $60.30 (-0.25%)
S&P -0.07% EuroStoxx +0.46% Dax +0.45% SMI +0.32%
Macro :
- ECB Unsure If Greek Banks Could Open Monday: Reuters
- Greek Govt Is Working for Success of Summit June 22: AFP
- BOJ Leaves Policy Unchanged, to Cut Number of Meetings: Link
- Russia Crisis May Cost EU Up to EU100b, Welt Cites Wifo Research
- Bank of Greece Said to Ask for Emergency ELA Funds: Proto Thema
- Dijsselbloem Says Greece Moving in Direction of Euro Exit
Keep an eye on :
- AIR FP : Airbus May Quit EU Drone Plan: FT
- BAYN GY : Bayer’s Dekker Warns Against Concessions to Greece, Bild Reports
- BRISA PL : Brisa Auto-Estradas Agrees to Sell 30% Stake in BCR
- DTE GY : German Mobile Spectrum Auction Reaches EU5.1b After 177th Round
- DTE GY : Deutsche Telekom to Close 181 DTTS Sites, Handelsblatt Says
- IIA AV : Billionaire Boris Mints May Boost or Sell Immofinanz Stake
- NOVN VX : Novartis Reports U.S. Introduction of Generic Copaxone
- UG FP : Peugeot Is Studying Industrial Project in Algeria: AFP
- RIO LN : Citigroup Says Rio Tinto Unlikely to Hit Iron Ore Output Target
- SCYR SM : Sacyr Asked to Sell 3%-4% Repsol Stake by Creditors: Expansion
- GLE FP : SocGen’s Bokobza Sees CAC40 at 7,000 by End-2017: Les Echos
- GLE FP : Societe Generale Buys CaixaBank’s Stake in Boursorama
- TIT IM : Telecom Italia Chairman Says All Investors Are Welcome: Ansa
- FR FP : Valeo Bought 10.5% Stake in Aledia
- VOW3 GY : VW’s MAN Said to Be in Talks to Cut as Many as 2,000 Jobs