April 1st, 2015

Daily Market Commentary



  • MBA Mortgage Applications in the U.S. were reportedly up 4.6%.
  • The ADP Employment change in the U.S. was reported at 189K, below estimates of 225K.
  • The Markit Manufacturing PMI for the Eurozone was reported at 52.2, slightly above estimates.


  • Gold rebounded from a three-day loss as the dollar retreated and investors weighed U.S. economic data for clues on when the Federal Reserve may raise borrowing costs.
  • Oil traded near the lowest price in a week as nuclear talks between world powers and Iran, which could lead to an easing of sanctions on the OPEC member’s crude exports, continued after Tuesday’s self-imposed deadline.


  • The world’s auto makers announced investments of $24.1-billion to increase production capacity last year and for the fourth year in the past five, none of the money has been earmarked for Canada. (Globe)

United States

  • U.S. stock-index futures were little changed, rebounding from an hour-long selloff that knocked Standard & Poor’s 500 Index contracts down more than 1 percent earlier.
  • Growth stocks’ biggest quarterly victory over value shares in the current bull market may turn out to be fleeting, according to David Kostin, Goldman Sachs Group Inc.’s chief U.S. equity strategist.
  • GE plans to deliver its newest gas turbine in July, a decade after the rollout of an earlier model that was hindered by performance issues and sold poorly.


  • European gas prices started the summer season at a five-year low, signalling easing concern about disruptions to Russian supply and below-average reserves.
  • Philips, the Dutch electronics giant, said on Tuesday that it had agreed to sell a controlling stake in its automotive lighting and LED components business for as much as $2.9 billion.
  • Asia’s benchmark stock index fell, after posting its steepest quarterly advance since 2013, as materials companies led the drop. Chinese shares rose to a seven-year high after data showed unexpected expansion in factory activity.
  • A Beijing-based water treatment company is fuelling concern about corporate-governance risks in China as its bonds fall by a record after it flagged potential audit issues.
  • Citigroup Inc. is targeting a 10 percent increase in its Asian wealth assets under management this year as the region’s growth creates more millionaires.

*All information is taken from Bloomberg, unless otherwise noted.