Market News

European ADRs Move Lower in Thursday Trading

European ADRs Move Lower in Thursday Trading

American Depository Receipts of European stocks were trading 0.48% lower at 138.03 on the Bank of New York Mellon Europe ADR Index on Thursday. In continental Europe, the gainers were led by geophysical equipment company CGG (CGG), and 3D printer company voxeljet (VJET), which rose 3% and 2.4% respectively. They were followed by gene therapy company Cellectis (CLLS), and marketing […]

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street pre-market Wednesday is steady, with US stock-index futures pointing to an opening bell largely unchanged from Tuesday’s close. European bourses are trading mildly higher, and Asian exchanges closed choppily on trade concerns. China reported a near-record $28.9 billion trade surplus in July with the US. The US will impose a 25% tariff on another $16 billion worth of […]

US Equity Futures Flat as Trade-War Concerns Resurface

US Equity Futures Flat as Trade-War Concerns Resurface

S&P futures traded just below Tuesday’s highs as overnight headers the US is initiating 25% tariffs on $16 billion of Chinese goods weighed on sentiment, said Dave Lutz, head of ETFs at Jones Trading. Europe was bid as the DAX rose 30 points after EU autos shrugged off trade angst and tech continued its global recovery. Consumer names were a […]

Sanchez Energy Downgraded by RBC to Sector Perform

Sanchez Energy Downgraded by RBC to Sector Perform

Sanchez Energy (SN) received an investment-rating downgrade Wednesday to sector perform from outperform from RBC Capital Markets following the oil-and-gas explorer and producer’s Tuesday report of a wider-than-expected Q2 loss. Sanchez also reported Tuesday that it has “engaged a leading global consulting firm to conduct an assessment of its performance across all aspects of the business, with a specific focus […]

Bond Prices Little-Changed to Lower With 10-Year Auction Ahead

Bond Prices Little-Changed to Lower With 10-Year Auction Ahead

US Treasury prices dipped lower, reversing earlier increases seen in concert with core European bonds and Japanese government bonds (JGBs). The two-year Treasury was unchanged yielding 2.674%, with the benchmark 10-year flat at 2.973%. The UK Gilt was pacing Europe with a small 0.7 basis point dip to 1.315% while the German Bund was flat at 0.404%, and the JGB […]

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health (CVS) got a boost on Wednesday morning after reporting second-quarter adjusted earnings and sales that beat expectations. Second-quarter adjusted earnings came in at $1.69 a share, topping forecasts from Capital IQ for $1.61 on a normalized basis. The company said GAAP loss was $2.52 a share due to a one-time $3.9 billion, or $3.85 per share, goodwill impairment […]

Three-Year Auction Outlooks According to Mizuho

Three-Year Auction Outlooks According to Mizuho

Mizuho said the 3Y is cheaper than last month’s stop. The 2/3/5 fly is around the same level as last month’s auction. While dealers had to take down over 50% of that auction and 42.9% the last five auctions, it is possible the outright level and the 2.75% coupon draw out some buyers and dealers take down to go back […]

European Equity Benchmarks Close Higher; Mining, Auto, Energy Stocks Boost Markets

European Equity Benchmarks Close Higher; Mining, Auto, Energy Stocks Boost Markets

The broad-based major European indices closed higher in Tuesday trading as mining, automotive and energy stocks pushed the markets into positive territory. In economic news, there was widespread growth across all monitored sectors at the start of Q3, according to the latest Europe Sector PMI data from IHS Markit. Technology continued to lead growth at the broad sector level, with […]