February 26th, 2016

Daily Market Commentary



  • Annualized GDP in the US in the fourth quarter was reported at 1%, above estimates of 0.4%.
  • Personal Spending in the US in January was up 0.5%, above estimates.
  • Personal Income in the US was also up 0.5%, also above estimates.
  • Consumer sentiment in the US was reported at 91.7.
  • The Consumer Price Index in Germany was up 0.4% and flat in month-over-month and year-over-year terms, respectively.



  • Oil rose from its highest closing level in four weeks in New York, heading for a weekly gain amid signs that U.S. gasoline consumption strengthened and speculation that some producers will complete an accord to freeze output.
  • Gold rose for a fourth day to head for the biggest monthly advance in four years on mounting concern over a global slowdown, with prices advancing even as China’s central bank sought to reassure investors about the outlook for Asia’s top economy.


  • ConocoPhillips is meeting with bankers to advise on the sale of another package of Western Canadian assets estimated to be worth up to C$1 billion ($738 million), according to people familiar with the matter.
  • A consortium led by Canadian investors Alberta Investment Management Corp., Ontario Teachers’ Pension Plan and OMERS won the bidding to buy London City Airport from Global Infrastructure Partners and Highstar Capital.
  • Bombardier Inc.’s embattled C Series program was dealt another blow after one of its largest customers, Republic Airways Holdings Inc., filed for creditor protection in New York Thursday.

United States:

  • U.S. stock-index futures rose with global shares amid speculation central banks will act to support economic growth.
  • Invesco Ltd., the manager of about $741 billion of assets, is buying large miners’ bonds as the industry cuts costs and shareholder payouts to withstand a slump in commodity prices.
  • Billionaire David Tepper can’t block a key part of SunEdison Inc.’s $1.9 billion buyout of residential solar-power provider Vivint Solar Inc., a Delaware judge ruled Thursday in rejecting the hedge fund manager’s claims the deal isn’t fair to some investors.
  • Hilton Worldwide Holdings Inc. said it will continue to pursue possible spinoffs of its hotel properties and timeshare business to boost shareholder value.


  • European stocks rose for a second day as investors assessed corporate results.
  • Euro-area inflation looks to be cooling faster than expected, with national data missing economists’ estimates and strengthening the case for an expansion of the European Central Bank’s monetary stimulus in March.
  • UBS Group AG has been charged with money laundering and fiscal fraud by a Belgian investigating judge amid a probe into tax evasion by its clients.
  • Deutsche Boerse AG’s merger with London Stock Exchange Group Plc is getting closer to an agreement as the companies confirmed key appointments should the deal take place.
  • Asian stocks rose, with the benchmark measure set for a second weekly gain, as energy shares led the advance after oil steadied, while indexes from Japan to Hong Kong and China climbed.
  • Nintendo Co. halved its annual profit outlook on weak sales of 3DS handheld players and the impact of a stronger yen, highlighting the importance of making the company’s smartphone debut next month a success.


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