The stock market rebounded from the previous week's decline with a Monday rally that sent the S&P 500 (+1.3%) back above its 50-day moving average (2,060). The benchmark index narrowed its March loss to 1.1% while the Nasdaq (+1.2%) and Russell 2000 (+0.6%) underperformed, but still logged solid gains to start the week. Unperturbed by disappointing economic data, equity indices rallied out of the gate and registered the bulk of their gains during the first hour of action. Countercyclical health care (+2.2%) and utilities (+1.7%) held the lead throughout the session, but most other sectors also posted solid gains. The only group that couldn't make it out of the red was the materials sector (-0.1%) as Dow component DuPont (DD) weighed after Bank of America/Merrill Lynch downgraded the stock to ‘Underperform' from ‘Buy.'
Macro :
- Germany’s Gabriel Places Conditions on TTIP, Sueddeutsche Says
- U.K. EU Exit Would Be Worse Than Greek, Allianz CIO Tells Welt
- Rouhani Says Progress Made in Talks May Lead to Resolution: BBC
- Tsipras Says Wants to Improve Greece’s Relations With Germany
- Gabriel Says Euro Area Must Do All to Avoid Greek Euro Exit: ARD
Keep an eye on :
- A2A IM : Italian Utility A2A Considering Alliance With Sorgenia: Il Sole
- AERL LN : IAG takeover of Aer Lingus criticised by Virgin Atlantic for adverse effect on Irish consumers
- ADS GY : Adidas Manager Salaries to Be Tied to Market Share: Die Welt
- AF FP : Air France-KLM Renews CEO De Juniac’s Contract for 4 Years
- BMPS IM : Paschi Confirms Profumo Resignation Comment in Corriere Intvw
- GBF GY : Bilfinger Probing Allegations of Bribery Linked to Brazil Unit
- BMPS IM : Paschi Top Shareholders Propose Confirmation of Profumo, Viola
- BT/ LN : BT to Reveal Consumer Mobile Phone Market Plans Next Week: FT
- CRG IM : Carige Can Grow Alone or Seek Consolidation Opportunities: Sole
- DAI GY : Daimler Partner BAIC Plans to Buy 35% of Mercedes-Benz Leasing
- DBK GY : Deutsche Bank to Weigh 3 Strategy Options, Sueddeutsche Reports
- FUR NA : Boskalis Raises Fugro Stake to 25.1%, Says Not a Step Toward Bid
- GALP PL : Galp Board to Propose Gomes da Silva to Be CEO, Diario Reports
- GKP LN : Gulf Keystone Set to Raise GBP30m in Share Sale: Sunday Times
- KD8 GY : Kabel Deutschland EGM Rejects Extended Special Audit
- LG FP : Lafarge-Holcim CEO Won’t Be on Board, Lafont Says: Figaro
- LG FP : Lafarge Said to Identify Gauthier, Olsen as CEO Candidates
- NOVOB DC : Novo Nordisk Not Expecting Imminent Saxenda Success: Berlingske
- PFV GY : Pfeiffer Vacuum May Seek Acquisitions, Chief Tells Welt
- QIA GY : Qiagen CEO Schatz Exercises Options, Then Sells Shares: Filings
- SAB SM : Sabadell Eyeing More U.K. Bank Targets After TSB Deal: Times
- SAP GY : SAP May Cut 1,600 European Jobs Amid Savings: WirtschaftsWoche
- SGO FP : Saint-Gobain CEO Says Sika Strategy Won’t Change: Tages-Anzeiger
- SCMN VX : Swisscom Needs Stable Shareholder for Investment: NZZamS
- TIT IM : Metroweb suitor Telecom Italia reopens talks - La Repubblica
- TEC FP : FMC Technologies, Technip to Form Forsys Subsea Joint Venture
- THYAO TI : Turkish Airlines Says It Can’t Ban Teenage Travelers: Times