(US) Market Close Summary: Stocks end mixed as crude futures lift, while Boeing weighs on Dow
US Session
-(BR) Brazil Mar FGV Inflation IGP-DI M/M: 1.1% v 1.1%e; Y/Y: 8.3% v 8.3%e
-(SA) Saudi Aramco to sell USD-denominated 3-year, 5-year, 10-year, 20-year and 30-year bonds
-(CA) Canada Feb Building Permits M/M: -5.7% v +2.0%e
-(US) Feb Factory Orders -0.5% v -0.5%e
-(CA) Canada Democratic Institutions Min: govt may have to study regulating major social media firms ahead of Oct election; major platforms have not done enough to safeguard elections
-(US) New York Fed March Survey of Consumer Expectations: medium-term inflation outlook rises; expectations for earnings and income growth move higher
-Senate Democrats reportedly investigating e-cig maker Juul's marketing and partnership with Altria
-(BR) Brazil Central Bank Gov Campos Neto: Brazil's economic reforms are key for low CPI; Brazil is in a gradual economic recovery
-(US) Atlanta Fed raises Q1 GDP forecast to 2.3% v 2.1% prior
Europe
-(UK) PM May Spokesperson: PM wants the UK to have an independent trading policy and that both sides will need to compromise
-(EU) ECB committees said not to have discussed tiering options for banking sector — financial press
-(IL) ISRAEL CENTRAL BANK (BOI) LEAVES BASE RATE UNCHANGED AT 0.25%; AS EXPECTED
-(UK) Labour reportedly sees compromise on Brexit as still far off; UK Government Brexit offer said to not include a customs union — press
-(UK) Labour Leader Corbyn: govt does not seem to be moving from original red lines; so far we haven't had the undertakings we want on our demands
Corporate Headlines
-Boeing drops 4% on 737 Max production cut (suppliers ATI, SPR down)
-GE downgraded by JP Morgan
-MU downgraded
-WYNN reportedly made offer for Crown Resorts
-Third Point reportedly takes stake in Sony
-NBEV expands distribution agreement with Walmart
-AlphaOne's Niles mentions long position in Lions Gate in CNBC interview, taking positions in content producers
Summary:
US indices began the week ending on a mixed note. Boeing's production cut weighed on the Dow and several headline broker downgrades kept momentum under wraps as focus shifted to the upcoming earnings season. The energy complex was a bright spot, boosted by rising oil prices. WTI touched a fresh 5-mouth high propelled by Middle East tensions in Libya and Iran. Rates drifted up, with the 10-year yield finding some stability above 2.5%. The dollar lost ground and gold prices settled back above $1,300 for the first time in more than a week.
Markets:
— Dow Jones -0.3%
— S&P500 +0.1%
— Nasdaq +0.2%
— Russell 2000 -0.2%
-After Market Movers-
-PHAS Receives FDA Breakthrough Therapy Designation for PB2452 for the Reversal of the Antiplatelet Activity of Ticagrelor; +29% afterhours
-AVYA Said to be working with advisers to consider sale after unsolicited interest; potential bidders include Apollo, Searchlight and Permira — press; +4% afterhours
-ZGNX Receives Refusal to File Letter from U.S. FDA for FINTEPLA NDA; Will seek immediate guidance, including a Type A meeting with the FDA; -29% afterhours
