>>> Up
* Austevoll Seafood Raised to Buy at Nordea; PT 100 kroner (+)
* Grieg Seafood Raised to Buy at Nordea; PT 90 kroner (+)
* Kion Raised to Buy at Kepler Cheuvreux; PT 30 euros (Yesterday)
* Kongsberg Raised to Neutral at SpareBank; PT 390 kroner
* Leroy Raised to Hold at Nordea (+)
* Raisio Raised to Buy at Nordea; PT 2.40 euros
* Sinch Raised to Buy at ABG; PT 60 kronor
* Vestas Raised to Buy at Jyske Bank; PT 185 kroner (+)
* Voestalpine Raised to Neutral at Oddo BHF; PT 28 euros (+)
>>> Down
* Altice USA Cut to Hold at Pivotal; PT $5
* Bakkafrost Cut to Hold at DNB Markets; PT 525 kroner
* Demant Cut to Neutral at Oddo BHF; PT 188 kroner (+)
* Estee Lauder PT Cut to $255 from $275 at Stifel
* Fielmann Cut to Neutral at Oddo BHF; PT 33 euros
* ICADE Cut to Sell at Citi; PT 21.30 euros
* L'Oreal PT Cut to 280 euros from 300 euros at Jefferies
* Nexans Cut to Underperform at BofA; PT 82 euros (Yesterday)
* Thyssenkrupp Cut to Hold at Deutsche Bank; PT 7.50 euros
>>> Initiation
* Adidas Rated New Buy at Bankhaus Metzler (+)
* GN Store Nord Reinstated Equal-Weight at Morgan Stanley
* Heidelberg Materials Reinstated Hold at Deutsche Bank
* Manz Reinstated Hold at Stifel; PT 30 euros
* Tullow Reinstated Buy at Peel Hunt; PT 80 pence
>>> Call
* Adidas Gets New Buy at Metzler on Strategic Reset Opportunity (+)
* BMW May Disappoint Some With Lack of Boost to FY Guidance: RBC (+)
* BNP Paribas Beat Across Divisions, Not Just Global Markets: RBC (+)
* Geberit’s 3Q a Weak Result for an Expensive Stock, MS Says (+)
* GN Store Nord Prelims Imply 20% Consensus Earnings Cut, MS Says (+)
* Hannover Re Guidance Reiteration Is Reassuring, Jefferies Says (+)
* Howden Update Shows Good Momentum Has Continued, Investec Says (+)
* Hugo Boss’ New Guidance Has Upside Potential, RBC Says (+)
* Icade Cut to Sell at Citi on Potential For Further Downside
* L’Oreal PT a Street-Low at Jefferies on ‘Lackluster’ Start to 2H
* Rolls-Royce Says Recovery Steady With Aviation Rebound, Defense (+)
* Sainsbury 1H Shows Resilience in Grocery Segment, Jefferies Says (+)
* Scout24’s Narrowed FY Guidance In Line With Estimates, RBC Says (+)
DAX:
- Zalando (ZAL TH) +1%
- Zalando Sees 2022 Revenue at Low End of Guidance as Sales Grow
- Heidelberg Materials (HEI TH) +0.3%
- Heidelberg Materials 3Q Oper Ebitda Matches Estimates
- BMW (BMW TH) -0.9%
- *BMW 3Q EBIT EU3.68B, EST. EU3.52B
- SAP (SAP TH) -1%
- Watch Europe Tech Stocks After Nasdaq 100 Plunges on Fed Meeting
- Daimler Truck (DTG TH) -1.2%
- Infineon (IFX TH) -1.4%
- Airbus (AIR TH) -1.5%
MDAX:
- Hugo Boss (BOSS TH) +1.8%
- Hugo Boss Boosts FY Ebit Forecast
- Telefonica Deutschland (O2D TH) +1.5%
- BNP Paribas, BMW, Enel, ING: Earnings Day Ahead
- TAG Immobilien (TEG TH) +1.1%
- PATRIZIA SE Narrows Assets Under Management Forecast
- Encavis (ECV TH) -1.1%
- Encavis Increases Stake in Stern Energy to 80%; No Terms
- Lufthansa (LHA TH) -1.3%
- Italy Said to Plan Reset of ITA Sale With Opening for Lufthansa
- Thyssenkrupp (TKA TH) -1.3%
- Thyssenkrupp Cut to Hold at Deutsche Bank; PT 7.50 euros
- TeamViewer (TMV TH) -1.4%
- K+S (SDF TH) -1.7%
SDAX:
- PVA TePla (TPE TH) +3.6%
- PVA TePla Earnings Call Scheduled By Montega AG for Nov. 3
- SGL (SGL TH) +0.9%
- Deutz (DEZ TH) -1.3%
- Uniper (UN01 TH) -1.6%
- Uniper Suffers €40 Billion Loss Amid Russian Gas Supply Cuts
- DIC Asset (DIC TH) -2.7%
- DIC Asset Cuts FY FFO Forecast
- Kloeckner (KCO TH) -3.2%
- Kloeckner Maintains FY Adjusted Ebitda Forecast
- Shop Apotheke (SAE TH) -4.8%
- The only e-prescription pilot region for medical practices puts project on hold
- Solvay (SOL TH) +2.4%
- Solvay 3Q Adjusted Ebitda EU917M Vs. EU599M Y/y
- Scout24 SE (G24 TH) +2%
- Scout24 SE Narrows FY Revenue Forecast to Higher End of Guidance
- BNP Paribas (BNP TH) +0.9%
- BNP Rides Rising Rates as Lending, Debt Trading Fuel Profit Beat
- Hugo Boss (BOSS TH) +0.8%
- Hugo Boss Boosts FY Ebit Forecast
- Infineon (IFX TH) -1.6%
- Thyssenkrupp (TKA TH) -1.8%
- ING (INN1 TH) -1.8%
- ING Plans €1.5 Billion Buyback After One-Off Charges Hit Profit
- Maersk (DP4B TH) -1.9%
- ASML (ASME TH) -1.9%
- Bavarian Nordic (BV3 TH) -2.1%
- Orsted (D2G TH) -2.1%
- Orsted 3Q Ebitda DKK12.32B Vs. DKK2.98B Y/y
- Aroundtown (AT1 TH) -2.1%
- K+S (SDF TH) -2.9%
- Verbund (OEWA TH) -2.9%
- Verbund Cuts FY Ebitda Forecast
>>> Up
* Kion Raised to Buy at Kepler Cheuvreux; PT 30 euros (Yesterday)
* Kongsberg Raised to Neutral at SpareBank; PT 390 kroner
* Raisio Raised to Buy at Nordea; PT 2.40 euros
* Sinch Raised to Buy at ABG; PT 60 kronor
>>> Down
* Altice USA Cut to Hold at Pivotal; PT $5
* Bakkafrost Cut to Hold at DNB Markets; PT 525 kroner
* Estee Lauder PT Cut to $255 from $275 at Stifel
* Fielmann Cut to Neutral at Oddo BHF; PT 33 euros
* ICADE Cut to Sell at Citi; PT 21.30 euros
* L'Oreal PT Cut to 280 euros from 300 euros at Jefferies
* Nexans Cut to Underperform at BofA; PT 82 euros (Yesterday)
* Thyssenkrupp Cut to Hold at Deutsche Bank; PT 7.50 euros
>>> Initiation
* Heidelberg Materials Reinstated Hold at Deutsche Bank
* Manz Reinstated Hold at Stifel; PT 30 euros
* Tullow Reinstated Buy at Peel Hunt; PT 80 pence
>>> Call
* Icade Cut to Sell at Citi on Potential For Further Downside
* L’Oreal PT a Street-Low at Jefferies on ‘Lackluster’ Start to 2H
Asian stocks and currencies fell after Jerome Powell said the Federal Reserve would raise interest rates more than previously anticipated, sapping risk appetite. Benchmark equity gauges in Asia fell in the wake of the S&P 500’s 2.5% drop, though declines in most markets were less than in the US. Shares in Hong Kong and on the mainland underperformed after an affirmation of the government’s Covid-Zero stance dashed hopes of a reopening. The Fed raised rates 75 basis points for the fourth time in a row, bringing the top of its target range to 4%, the highest level since 2008. Traders immediately raised the market-implied peak in interest rates for next year. Two-year Treasuries led a selloff on Wednesday following Powell’s comments, but at 4.62% they are still about 40 basis points below the 5.06% peak in yields priced into Fed funds futures. the dollar fell against all of its Group-of-10 counterparts as investors pivoted toward US jobs data, which may help to determine the pace of upcoming rate hikes. An index of emerging-market currencies declined. Wheat prices fell after Russia agreed to resume a deal allowing safe passage of Ukrainian crop exports. Oil dropped after Powell’s comments on interest rates overshadowed tightening supply. US After Hours Very busy earnings night; ETSY +10%, EBAY +7.3%, BKNG +4.7% are key names on upside; ROKU -17.9%, QCOM -6.5%, MGM -3.2% on downside
Nikkei -0.06% Hang Seng -2.70% CSI -0.70% Shanghai -0.10% Shenzen +0.03%
Eur$ 0.9826 CNH 7.3169 CNY 7.2972 JPY 147.34 GBP 1.1409 CHF 1.0024 RUB 61.3063 TRY 18.6152 WTI$ 89.52 -0.53% Gold 1,636.78 +0.10% BTC 20,373 +02.98% ETH 1,551.80 +2.67%
S&P +0.17% Nasdaq +0.24% EuroStoxx -0.80% FTSE -0.63% Dax -0.65% SMI -0.33%
Macro :
- Germany Seeks Cooperation With China, but Acknowledges Disputes
Keep an eye on :
- ADEN SW : Adecco 3Q Revenue Meets Estimates
- AIR FP : Problem-plagued Boeing Sets Ambitious Turnaround Targets
- ALM SM : Nazzi Steps Down as Almirall CEO, Gallardo Named Interim CEO
- AMBEA SS : Ambea 3Q Net Sales Beats Estimates
- AMG NA : AMG Sees FY Ebitda at Least $320M, Saw $280M to $300M
- ASML NA : US to Amp Up Pressure on Dutch to Block Chip Gear Sales to China
- CS FP : Axa 9M Revenue EU78.4B Vs. EU76B Y/y
- BMPS IM : Banca MPS: Unexercised Rights to Be Used for New Shrs at EU2/Shr
- BMW GY : BMW 3Q Ebit Beats Estimates
- BNP FP : BNP Paribas 3Q Net Income Beats Estimates
- CAV1V FH : Caverion 3Q Revenue Beats Estimates
- CGG FP : CGG 3Q Segment Revenue Misses Estimates
- COP GY : CompuGroup Narrows FY Organic Revenue Forecast
- COOL NO : Cool Offering by Co. and Holder Golar LNG Prices at NOK130/Share
- BN FP : FDA: Some Danone, a2 Milk Infant Formula Cleared for Sale
- DIC GY : DIC Asset Cuts FY FFO Forecast
- DUFN SW : Dufry 3Q Sales Misses Estimates
- ECV GY : Encavis Increases Stake in Stern Energy to 80%; No Terms
- ZIL2 GY : ElringKlinger 3Q Ebit Matches Estimates
- EQT SS : EQT Partners in Talks to Buy SK Shieldus Stake for 2t Won: Daily
- EO FP : Forvia Targets Sales of About €30B in 2025
- GEBN SW : Geberit Cuts FY Ebitda Margin Forecast
- GN DC : GN Store Nord Cuts FY Audio Organic Rev Growth Forecast
- HNR1 GY : Hannover Re 3Q Ebit Beats Estimates
- HEI GY : Heidelberg Materials 3Q Oper Ebitda Matches Estimates
- BOSS GY : Hugo Boss Boosts FY Ebit Forecast
- INGA NA : ING 3Q Net Income Misses Estimates
- ISS DC : ISS' New 6.5% Organic-Growth Goal Propelled by Pricing: React
- KCO GY : Kloeckner Maintains FY Adjusted Ebitda Forecast
- KOJAMO FH : Kojamo 3Q Revenue Beats Estimates
- LR FP : Legrand 9M Adjusted Operating Profit Matches Estimates
- LNZ AV : Lenzing 9M Ebitda EU263.0M Vs. EU297.6M Y/y
- OR FP : L’Oréal Suspends Advertising Spending on Twitter, FT Says
- MFEB IM : MFE-MediaForEurope Raises Stake in ProSiebenSat.1 Media
- NETC DC : Netcompany Narrows FY Sales at Constant Exchange Rates Forecast
- NOVOB DC : Novo Nordisk Shot Helps Teens Lose Weight, Journal Study Says
- OCI NA : OCI 3Q Adjusted Ebitda Beats Estimates
- OERL SW : Oerlikon Sees FY Sales Above CHF2.9B, Saw About CHF2.9B
- PFV GY : Pfeiffer Vacuum 3Q Ebit EU33.9M Vs. EU25.9M Y/y
- PSM GY : MFE-MediaForEurope Raises Stake in ProSiebenSat.1 Media
- RAA GY : Rational 3Q Net Income Beats Estimates
- RBI AV : Raiffeisen Sees FY Net Interest Income About EU4.8B
- SCATC NO : Scatec 3Q Ebitda Beats Estimates
- G24 GY : Scout24 SE Narrows FY Revenue Forecast
- SESG FP : SES 3Q Adjusted Ebitda Meets Estimates
- SGL GY : SGL 9M Adjusted Ebitda EU136.1M Vs. EU108.5M Y/y
- SHUR BB : Shurgard 9M Property Operating Revenue +12%
- SW FP : Sodexo Can Do ‘Significant’ M&A But Sticking to Bolt-Ons for Now
- SOLB BB : Solvay 3Q Adjusted Ebitda EU917M Vs. EU599M Y/y
- STLA IM : *STELLANTIS 3Q NET REV. EU42.1B, EST. EU41.1B
- TIT IM : Telecom Italia Is Said to Plan Start of Business Unit Stake Sale
- 02D GY : Telefonica Deutschland 3Q Adjusted Oibda Meets Estimates
- TTE FP : TotalEnergies Accused of Downplaying Carbon Emissions in Company
- TNG FP : Transgene Says TG4001 Showed Positive PFS in Interim Analysis
- UN01 GY : *UNIPER 9-MONTH NET LOSS ABOUT EU40B ON CURTAILED RUSSIAN GAS
- UN01 GY : Uniper Suffers €40 Billion Loss Amid Russian Gas Supply Cuts
- VIE FP : Adnoc Refining Sells Waste Mgmt Ops to ADQ, Veolia,Vision Invest
- VOD LN : KKR Said to Vie With Cellnex for $14 Billion Vodafone Tower Arm
- ZAL GY : Zalando Sees 2022 Revenue at Low End of Guidance as Sales Grow
After Hours Summary: Very busy earnings night; ETSY +10%, EBAY +7.3%, BKNG +4.7% are key names on upside; ROKU -17.9%, QCOM -6.5%, MGM -3.2% on downsideAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: NRDS +19.5%, ELF +11.8%, CFLT +11.6%, HUBS +11%, INFN +10.9%, VMEO +10.5%, ETSY +10%, EBAY +7.3%, RUN +7.1%, EPR +6.7%, ORCC +6.4% (also increases dividend, introduces supplemental div, also $150 mln stock repurchase auth), PCOR +5.8%, LSI +5.4%, HCC +5.1%, ESTE +5%, RIG +4.9%, HTGC +4.8%, BKNG +4.7%, AMPL +4.2%, CCRN +4.1%, HOOD +3.6%, SU +3.5%, NARI +3.2%, SKT +3.2%, FSLY +3.1%, IIPR +3.1%, WWE +2.8% (also ends investigation into former CEO V. McMahon), EVOP +2.6%, MRO +2.2% (also to acquire the Eagle Ford assets of Ensign Natural Resources for $3 bln), PAA +2.2%, UDMY +2.2%, ALB +2%, CPE +2%, QDEL +2%, QRVO +1.5% (also authorizes new $2 bln share repurchase program), WTS +1.4%, OHI +1.3%, WSC +1.3%, ZG +1.1%, MTG +1%, LAZR +1%, HHC +0.5%, PDCE +0.4%, RPT +0.4%, AFG +0.3%, CDAY +0.3%, KW +0.2%, MATX +0.2% (also signs contracts with Philly Shipyard to build three new containerships for $1 bln), RELY +0.2%, ALL +0.1% (also raising insurance prices), CRC +0.1%, CW +0.1%, FLT +0.1%, FROG +0.1%, GFL +0.1%, IR +0.1%, KMPR +0.1%, NE +0.1%, PK +0.1%, RGR +0.1%, KRG +0.1%
Companies trading higher in after hours in reaction to news: SPCE +2.5% (Bell Textron and Qarbon Aerospace to manufacture key subassemblies for new Delta class spaceships), PAA +2.2% (ENB and PAA purchase WES's 15% interest in Cactus II Pipeline for $265 mln), MARA +1.4% (publishes Oct 2022 bitcoin production data), PRCH +1.4% (names new CFO), TYRA +1.1% (CFO to step down), EXC +1.1% (CEO to retire; COO to become new CEO), GEVO +0.9% (announces 5-year, $165 mln agreement with Iberia Airlines), HII +0.5% (increases dividend), DAR +0.3% (to purchase Miropasz Group for €110 mln), COST +0.2% (reports Oct comps), CHCT +0.2% (files mixed securities shelf offering)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: TNDM -23.1%, ROKU -17.9% (also CFO to step down), LNC -16.3%, LUMN -14.8% (also enters into exclusive arrangement for the proposed sale of Lumen's EMEA business to Colt for $1.8 bln), ATUS -13.8%, MRVI -11.5%, RPD -11.5%, FTNT -11.2%, QLYS -9.6%, RGLD -7.1%, VSTO -6.9%, RDN -6.6%, QCOM -6.5% (also AAPL will keep QCOM chips next year, according to Bloomberg), STAA -6.5%, MKSI -6.2%, ACAD -5.8%, CTSH -5% (also authorizes $2 bln increase to its share repurchase program), CXW -5%, ASND -5%, BCOV -4.8%, SRPT -4%, YELL -3.9%, CF -3.8% (also authorizes new $3 bln share repurchase program), ECPG -3.8%, NTR -3.7%, RSI -3.6%, VRRM -3.6%, RGNX -3.5%, FSR -3.3%, EVH -3.2%, MGM -3.2%, ALGT -3.1%, SITM -2.8%, HPP -2.5%, NUS -2.5% (also pursuing a more aggressive approach to previously indicated restructuring plans), EVTC -2.1%, RVLV -2% (also to partner with Griffin Gaming to create fashion-centered Web3 mobile gaming experience), SD -2%, KD -2%, ANSS -1.5%, HBM -1.5%, TPC -1.5%, WES -1.4%, EVGO -1.3%, RCII -1%, NSA -0.8%, SRI -0.6%, APA -0.5%, PTRA -0.5%, NGVT -0.4%, ACA -0.2%, MET -0.2%, ES -0.1%, ONL -0.1% (also files $750 mln mixed securities shelf offering; also files for 1.12 offering by selling shareholders; also authorizes new $50 mln share repurchase program), ORA -0.1%, SUM -0.1%, TXG -0.1%, WK -0.1%
Companies trading lower in after hours in reaction to news: PBPB -4.3% (extends contract for CEO thru 2025), KLAC -2.1% (names new chairman), WES -1.4% (ENB and PAA purchase WES's 15% interest in Cactus II Pipeline for $265 mln), IGMS -1.3% (ADCT and IGMS enter into clinical trial collaboration and supply agreement), ENB -0.5% (ENB and PAA purchase WES's 15% interest in Cactus II Pipeline for $265 mln), AAPL -0.5% (will keep QCOM chips next year, according to Bloomberg), CTRA -0.4% (names new CEO), TK -0.2% (CFO to retire), ERF -0.2% (announces sale of remaining Canadian assets), ADBE -0.2% (DOJ is preparing to open investigation of Adobe's $20 bln takeover of Figma, according to Politico)
Notable earnings/guidance movers: ETSY +9.2%, INFN +8%, EBAY +7.2%, BKNG +6.4%, ZG +4.4% on upside; TNDM -22.5%, ROKU -18.8%, RPD -8.9%, QCOM -6.4%, MGM -6% on downside
- Earnings/guidance gainers: CFLT +11.6%, HUBS +10.9%, ETSY +9.2%, INFN +8%, RUN +7.8%, EPR +7.6%, ELF +7.4%, EBAY +7.2%, BKNG +6.4%, NARI +5%, HOOD +4.8%, PCOR +4.6%, FROG +4.4%, ZG +4.4%, AMPL +4.2%, ESTE +4.1%, ONL +3.6%, SKT +3.2%, ACLS +3.1%, EVOP +2.6%, IIPR +2.5%, PAA +2.2%, ALL +1.9%, FSLY +1.8%, RVLV +1.8%, VMEO +1.8%, ALB +1.4%, CCRN +1.4%, WSC +1.3%, EVGO +1.2%
- Earnings/guidance losers: TNDM -22.5%, ROKU -18.8%, LNC -16.1%, FTNT -11.7%, LUMN -9.8%, RPD -8.9%, YELL -7.6%, QLYS -6.6%, RDN -6.6%, STAA -6.5%, UDMY -6.5%, QCOM -6.4%, MGM -6%, BCOV -4.8%, CF -4.6%, CTSH -3.8%, ECPG -3.8%, SRPT -3.5%, ALGT -3.1%, SITM -2.8%, HPP -2.5%, NUS -2.5%, WES -2.1%, QRVO -1.7%, ANSS -1.5%, LSI -1.5%, TPC -1.5%, PK -1.3%, NTR -1.2%, MKSI -1.1%
Closing Stock Market SummaryIt shaped up to be a rough session for the stock market, but it wasn't always that way. The market clung to a narrow trading range and modest losses until the FOMC policy decision at 2:00 p.m. ET, when stocks took a sharp turn higher. Things quickly deteriorated, however, as Fed Chair Powell gave his press conference at 2:30 p.m. ET. Ultimately, the major averages closed at session lows.
The initial push higher after the policy decision was based on the following line in the directive, which fueled the market's hope of a less aggressive rate-hike approach at future meetings:
"In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments."
The wind got knocked out of the market's sails, however, after Mr. Powell emphasized that the Fed still has a ways to go to get the policy rate to a restrictive level and added "it is very premature to be thinking about pausing."
Another rough point for the market was Mr. Powell's messaging that incoming data since the last meeting suggests the ultimate level of interest rates will be higher than previously expected and that "there is more ground to cover" before it meets the test of being at a restrictive level.
Sellers stepped up in the Treasury and equity markets during and after the press conference. The 2-yr note yield initially traded down to 4.44% but settled at 4.55% and jumped to 4.62% after the close of the cash session. The 10-yr note yield fell to 3.98% but settled at 4.06% and jumped to 4.11% after the close of the cash session.
Stocks sold off in broad fashion. All 11 S&P 500 sectors closed with a loss ranging from 1.0% (utilities) to 3.8% (consumer discretionary).
Mega cap stocks suffered heavier losses than the broader market. The Vanguard Mega Cap Growth ETF (MGK) fell 3.6% today versus a 2.5% loss in the S&P 500.
On an individual basis, a few names were able to buck the downtrend after reporting quarterly results. CVS Corp. (CVS 96.80, +2.18, +2.3%), Match Group (MTCH 45.74, +1.84, +4.2%), and Mondelez Int'l (MDLZ 62.58, +0.71, +1.2%) were among the winning standouts today for the earnings reporters.
Energy complex futures settled the session higher. WTI crude oil futures rose 1.6% to $89.82/bbl and natural gas futures rose 6.9% to $6.55/mmbtu.
Cigna (CI), ConocoPhillips (COP), Cheniere Energy (LNG), Peloton (PTON), Marriott (MAR), Westlake Corporation (WLK), Kellogg (K), Moderna (MRNA), Restaurant Brands Int'l (QSR), AmerisourceBergen (ABC), Royal Caribbean (RCL), Shake Shack (SHAK), Wayfair (W), and Crocs (CROX) are among some of the more notable companies set to report earnings ahead of Thursday's open.
Looking ahead to Thursday:
- 8:30 ET: Weekly Initial Claims (consensus 222,000; prior 217,000), Continuing Claims (prior 1.438 mln), September trade balance ( consensus -$71.00 bln; prior -$67.40 bln), preliminary Q3 Productivity ( consensus 0.5%; prior -4.1%) and preliminary Q3 Unit Labor Costs (Briefing.com consensus 4.2%; prior 10.2%)
- 10:00 ET: September Factory Orders ( consensus 0.3%; prior 0.0%) and October ISM Non-Manufacturing Index ( consensus 55.2%; prior 56.7%)
- 10:30 ET: Weekly natural gas inventories (prior +52 bcf)
Dow Jones Industrial Average: -11.5% YTD
S&P Midcap 400: -16.5% YTD
S&P 500: -21.1% YTD
Russell 2000: -20.3% YTD
Nasdaq Composite: -32.7% YTD