February 9th, 2015

Daily Market Commentary



  • Housing Starts in Canada were reportedly up 187.3K, above estimates of 177.5K.
  • The Sentix Investor confidence survey for the Eurozone was reported at 12.4, above estimates of 3.0.
  • Imports and exports in Germany were reportedly down 0.8% and up 3.4% in month-over-month terms, respectively.


  • Oil gained after the biggest weekly advance in almost four years as signs of a drilling slowdown in the U.S. bolstered speculation that companies are cutting back crude production amid a global glut.
  • Gold rose on speculation the biggest drop in a year spurred more physical purchases before China’s Lunar New Year holiday.


  • Nebraska landowners opposed to TransCanada Corp.’s plan to run the Keystone XL oil pipeline through the state asked two judges to block the Canadian company from seizing property.

United States

  • U.S. stock-index futures fell, signalling equities may decline for a second day, after Greece’s prime minister reiterated pledges opposing the nation’s bailout.
  • The U.S. Justice Department is looking into whether UBS Group AG misled clients in the marketing and selling of some foreign-exchange structured products, according to people with knowledge of the situation.


  • A drop in banks led European stocks down, while concern grew over the political situation in Greece as Prime Minister Alexis Tsipras reaffirmed his rejection of the country’s international bailout program.
  • The private-banking unit of HSBC Holdings Plc made significant profits for years handling secret accounts for an array of criminals, from drug cartels and arms dealers to tax evaders and fugitive diamond merchants, according to a report released Sunday by an international news organization.
  • Asian stocks slid as China trade figures showed signs of weakness in the region’s biggest economy. Japanese equities rallied on a weaker yen after U.S. payrolls topped estimates.
  • Nissan Motor Co. raised its profit forecast as the weaker yen and growth in U.S. deliveries boosted export earnings, countering a slowdown in Japan.
  • State Bank of India and Bank of Baroda are among nine state-owned Indian lenders that will receive 69.9 billion rupees ($1.13 billion) in capital as the government bolsters their risk buffers amid rising bad loans.
  • General Electric Co. and Continental AG are among companies looking to take advantage of a subsidy India is offering for electronics manufacturing amid Prime Minister Narendra Modi’s push to boost economic growth.

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