Concerning economic data released in Asia, yet again agitated global growth worries leading to selling in equity markets worldwide. US investors followed suit when they dumped risk assets notably stocks throughout today's session. The selling was indiscriminate with all major sectors trading lower and the widening breadth on the downside left very few names in the green. Typically dovish speak from the Fed's Rosengren early in the NY afternoon did little to sway sentiment. Oils wild ride continued when Oct WTI crude dropped 7% after rising nearly 30% in last week. FX markets saw the Euro, Yen and Franc all gain buoyed by safe haven flows. US Treasury markets were up but the gains were very modest especially given the selloff in other asset classes.
- Dow Jones -2.8%
- S&P500 -3.0%
- Nasdaq -2.9%
- US 2-yr: -3bps at 0.71%
- 10-yr: -6bps at 2.16%
- 30-yr: -1bps at 2.92%
- 2-10 spread: -3bps at 1.45%
Commodities:
- Oct crude oil $44.67/brl, -9.3%
- Dec Gold $1,139/oz, +0.6%
- Sept Silver $14.59/oz, flat
- Sept Copper $2.29/oz, -2.0%
Notable afterhours (16:40):
- HRB: Reports Q1 -$0.35 v -$0.41e, R$138M v $136Me; Approves $3.5B (38.5% of market cap) buyback and capital structure program; +7.4% afterhours
- BOBE: Reports Q1 $0.51 v $0.30e, R$322M v $323Me; Raises FY16 $1.85-2.00 v $1.87e, Cuts R$1.33-1.39B v $1.35Be, SSS 1.0-2.0% (prior $1.75-1.95, R$1.34-1.41B, SSS 1.5-2.5%); +1.8% afterhours
- AMGN: Announce positive top-line results from Open-Label Phase 3 study of romosozumab compared with teriparatide; +0.9% afterhours
- ITCI: Positive Phase 2 schizophrenia study in the Journal Biological Psychiatry published; +0.9% afterhours
- GWRE: Reports Q4 $0.35 v $0.26e, R$125.9M v $122Me; -0.5% afterhours
- SCVL: Reports Q2 $0.24 v $0.18e, R$228M v $229Me; -3.9% afterhours
- Dow Jones -2.8%
- S&P500 -3.0%
- Nasdaq -2.9%
- US 2-yr: -3bps at 0.71%
- 10-yr: -6bps at 2.16%
- 30-yr: -1bps at 2.92%
- 2-10 spread: -3bps at 1.45%
Commodities:
- Oct crude oil $44.67/brl, -9.3%
- Dec Gold $1,139/oz, +0.6%
- Sept Silver $14.59/oz, flat
- Sept Copper $2.29/oz, -2.0%
Notable afterhours (16:40):
- HRB: Reports Q1 -$0.35 v -$0.41e, R$138M v $136Me; Approves $3.5B (38.5% of market cap) buyback and capital structure program; +7.4% afterhours
- BOBE: Reports Q1 $0.51 v $0.30e, R$322M v $323Me; Raises FY16 $1.85-2.00 v $1.87e, Cuts R$1.33-1.39B v $1.35Be, SSS 1.0-2.0% (prior $1.75-1.95, R$1.34-1.41B, SSS 1.5-2.5%); +1.8% afterhours
- AMGN: Announce positive top-line results from Open-Label Phase 3 study of romosozumab compared with teriparatide; +0.9% afterhours
- ITCI: Positive Phase 2 schizophrenia study in the Journal Biological Psychiatry published; +0.9% afterhours
- GWRE: Reports Q4 $0.35 v $0.26e, R$125.9M v $122Me; -0.5% afterhours
- SCVL: Reports Q2 $0.24 v $0.18e, R$228M v $229Me; -3.9% afterhours
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