June 18th, 2015

Daily Market Commentary



  • The Consumer Price Index in the U.S. was reportedly up 0.4% and 0.0% in month-over-month and year-over-year terms, respectively.
  • The Consumer Price Index Core was up 0.1% and 1.7% in month-over-month and year-over-year terms.
  • Initial jobless claims in the U.S. were 267K, below estimates of 275K.
  • Continuing Jobless Claims in the U.S. were 2.222M, slightly above estimates.
  • The CB Leading Indicator measure in the U.S. were up 0.7%, slightly above estimates.
  • The Philadelphia Fed Manufacturing Survey was reported at 15.2, above estimates of 8.


  • Oil traded near $60 a barrel as investors weighed the pace at which a U.S. supply glut is diminishing.
  • Gold extends advance with futures climbing most in five weeks.



  • Canadian government websites and e-mail were temporarily shut down by a cyber-attack Wednesday. The “denial of service” attack interrupted e-mail, Internet access and other government services, said Dave Adamson, the acting Chief Information Officer at the federal Treasury Board.
  • Canadian Natural Resources Ltd. is considering a shift in investment away from Alberta as the province plans to increase corporate taxes and review royalties.

United States:

  • Home-sharing start-up Airbnb Inc. is in talks to raise financing at a valuation of $24 billion, according to a person familiar with the matter.
  • Fitbit Inc., which tripled sales last quarter of devices that track everything from exercise to sleep patterns, raised $732 million after pricing its initial public offering above a marketed range.
  • AT&T Inc. will be fined a record $100 million for misleading customers about unlimited mobile data plans, the Federal Communications Commission said.


  • European stocks fell for a second day as the region’s finance ministers meet amid growing concern over Greece’s ability to reach a deal. U.S. stock-index futures were little changed.
  • The European Central Bank handed 73.8 billion euros ($84.2 billion) to euro-area banks in the fourth round of a program to boost their lending to the real economy.
  • Nokia Oyj, the Finnish maker of telecommunications equipment, is leaning toward selling its maps business to a group of German carmakers, although price differences remain, according to people familiar with the matter.
  • Stocks across Asia fell, led by a slump in Chinese equities, as initial public offerings drained cash from the market and investors speculated that recent gains have gone too far.
  • Cisco Systems Inc. will invest more than $10 billion in China during the next few years, a costly tactic to get back in the government’s good graces and stay competitive with Huawei Technologies Co.


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