Dow +0.39% S&P +0.52% Nasdaq +0.86% Russell +1.02%
US Market Turned positive after opening lower. Early weakness was due to Aug. Empire Manufacturing which was reported much lower than expected (-14.9 vs consensus 5.0). Healtcare was one of sector leading the move, energy (-0.1%) and financials (+0.2%) underperformed while the remaining six groups ended in-line with or ahead of the broader market. Stock-specific news was limited today, but it is worth noting that Zulily (ZU 18.74, +6.17) spiked 49.1% after agreeing to be acquired by Liberty Interactive (QVCA 29.80, -0.46) for $18.75/share. energy sector spent the entire trading day near its flat line as crude oil added to its recent losses, falling 1.5% to $41.87/bbl. Including today's decline, WTI crude is now down 11.9% since the end of July. Volume were below average at 700mil shares. Asian indices are trading softer heading into the afternoon session in spite of the rebound late in the day on Wall St. China's Shanghai Composite is leading the selloff. Although the PBoC set Yuan slightly firmer for the 3rd straight day - effectively ending the Yuan devaluation ripple that spooked investors across the globe last week - traders are monitoring Chinese central bank's latest easing efforts. PBoC injected CNY120B in reverse repos - the highest since early 2014 - but the offering yield was unchanged at 2.5%, leading some to conclude that policymakers will calibrate monetary stance primarily through the open market operations. Those worries are magnified by more reports of a slowdown. PBoC adviser Fan Gang remarked that economic growth would remain low for the next few years, while another press report noted there is some disagreement among the drafters of the 13th Five Year Plan (2016-2020) about whether to target GDP of 6.5% or 7.0% for the upcoming 5 years.China property prices continue to recover as investors disenchanted with the stock market return to more familiar pastures. July prices fell in 29 out of 70 cities m/m - down from 34 in the prior month, and prices rose in 31 vs 27 prior
Nikkei -0.32% Hang Seng -0.77% Shanghai -5.15%
Eur$ 1.1071 JPY 124.39 GBP 1.5573 CNY 6.4005 EURCHF 1.0825 RUB $65.7110 WTI $41.66
S&P -0.15% EuroStoxx -0.29% Dax -0.33% SMI -0.20%
Macro :
- Russia to Probe Banks’ Assets in Foreign Depositories: Vedomosti
- Moody’s Cuts U.S. 2015 Growth Forecast to 2.4% From 2.8% in May
Keep an eye on :
- AIR FP : Airbus A400M Design Office to Move to Seville From Toulouse: AFP
- AIR FP : Private Equity Said to Dominate Bids for Airbus Defense Assets
- ALKB DC : ALK-Abello 2Q Ebitda Pre-Items Falls; Adjusts FY Outlook
- BMW GY : BMW Says Vehicle Distribution Center Damaged in Tianjin Blasts
- EMMN SW : Emmi Maintains FY Sales Guidance, Raises FY Ebit Target Range
- ENGI FP : Engie Said to Plan Sale of Over $1 Billion in Asian Coal Plants
- FCC SM : Carlos Slim Favors Jarque to Become CEO of FCC: Cinco Dias
- GLEN LN : *GLENCORE SHAREHOLDER HARRIS BOOSTS STAKE TO 4.5% FROM 1.1%
- KCR1V FH : Konecranes Redefines FY Outlook to Include Terex Costs
- LISP SW : Lindt Board Member Franz Peter Oesch Died Unexpectedly Saturday
- LISP SW : Lindt 1H Ebit CHF90.6m, Est. CHF91m; Confirms Forecast
- MLBY US : Mobileye Climbs to Record as Partner Trades at Premium
- PRGO US : Paulson Raises Perrigo Stake to 1.79%
- PSPN SW : PSP FY Ebitda Forecast Improved to CHF230m From CHF225m
- RUSAL FP / 486 HK : Rusal May Pay Out $250m in First Dividend Since 2009: Vedomosti
- SAP GY : SAP Drops Plan for Russia JV; Won’t Disclose Code: Kommersant
- SPOTIFY IPO : Spotify Rival Deezer Said to Seek Funds at $1b Valuation
- VIV FP : Vivendi: Canal Plus Tender to Be Reopened for EU8/Shr
- VOW3 GY : Tesla, VW Stand Out as Takata Airbag Users Without U.S. Recalls
- WDI GY : Wirecard 2Q Net Income EU32.4m vs EU23.7m
- WIE AV : Wienerberger Raises FY Outlook After 2Q Profit Beats Forecasts
- WG/ LN : Wood Group 1H Profit From Ops Ex-Items $156m; Ebita Margin 7.4%