August 4th, 2015

Daily Market Commentary



  • The Redbook Index, which measures same-store sales growth of U.S. general merchandising companies, was reportedly up 0.2% and 1.7% in month-over-month and year-over-year terms, respectively.
  • The Producer Price Index for the Eurozone was down 0.1% and down 2.2% in month-over-month and year-over-year terms.
  • The Spanish unemployment change was down 74,000, a larger drop than estimated.


  • Oil climbed amid speculation the drop below $50 a barrel in London for the first time since January was excessive.
  • Nickel climbed, leading increases in industrial metals, amid signs the slump in prices is forcing some producers to curtail production.
  • Platinum traded near a six-year low and palladium reached the lowest since 2012 on speculation supplies are ample amid slowing demand from China. Gold rose.


  • UGO Mobile Solutions LP, a mobile-wallet smartphone app backed by two Canadian banks, has signed up 50,000 users since December as Apple Pay becomes available in countries outside of the U.S.
  • A two-decade old trade accord could let TransCanada Corp. recoup some of the $2.4 billion spent on its Keystone XL project, even if President Barack Obama rejects the pipeline.
  • Prime Minister Stephen Harper gave his party a leg up in Canada’s election by more than doubling spending limits after amassing a campaign war chest bigger than that of his two main rivals combined.

United States:

  • U.S. stock-index futures were little changed, following a two-day drop for equities, as investors awaited earnings from companies including Kellogg Co., Walt Disney Co. and Aetna Inc.
  • Aetna Inc., the No. 3 U.S. health insurer by enrollment, raised its full-year earnings forecast after reporting profit that topped analysts’ estimates as it added more members in government insurance programs.
  •  General Motors Co. said U.S. regulators affirmed a 53-mile (85-kilometer) range using only the batteries of the revamped Chevrolet Volt plug-in hybrid, an increase of almost 40 percent from the initial version.


  • European stocks snapped a five-day winning streak as declines in banks and energy companies outweighed a surge in miners. Greek shares slid for a second President Satoru Iwata before his death.
  • The U.K. government raised 2.1 billion pounds ($3.3 billion) in its share sale of Royal Bank of Scotland Group Plc, leaving room to cut the stake further this year.
  •   A gauge of the outlook for U.K. inflation touched a nine-week low amid a slump in commodity prices that may hinder the Bank of England’s progress toward raising interest rates.
  • BMW AG said slowing sales in China may force it to revise this year’s profitability goals, challenging new Chief Executive Officer Harald Krueger as he seeks to defend his lead in the global luxury car industry.
  • China stocks rose, with the benchmark index rebounding from a three-week low, as some brokerages halted their short-selling businesses amid increasing state intervention to stem the rout in equities.
  • Toyota Motor Corp. warned of tougher competition in China and raised its forecast for Japan sales as it reported quarterly profit that beat analyst estimates.

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