June 2nd, 2015

Daily Market Commentary



  • The Redbook Index in the U.S., which measures same-store sales growth in general merchandising companies, was down 0.3% and up 1.7% in month-over-month and year-over-year terms, respectively.
  • The COP for the Eurozone was up 0.3% in year-over-year terms, slightly above estimates.
  • The Producer Price Index in the Eurozone was down 0.1% and down 2.2% in month-over-month and year-over-year terms, respectively. Both figures were below estimates.
  • Consumer credit in Great Britain expanded to 1.17B pounds, above estimates.


  • Oil traded near $65 a barrel as Saudi Arabia said its efforts to focus on market share are working, bolstering speculation that OPEC will maintain its production target at this week’s meeting.
  • Trading of iron ore derivatives on China’s Dalian Commodity Exchange climbed to a record last month as prices increased.


  • Three tobacco companies plan to appeal a C$15.6 billion ($12.5 billion) decision by a Canadian court in favor of smokers in class-action lawsuits.
  • Companies in Alberta prepared to return to work as rain eased a wildfire that prompted the shutdown of 10 percent of Canada’s oil-sands production.

United States:

  • U.S. stock-index futures were little changed as Greece’s creditors said discussions to resolve the country’s debt crisis must intensify.
  • Ford Motor Co. is shortening summer vacation for workers at 16 North American factories to meet growing demand for sport-utility vehicles and its new aluminum-bodied F-150 pickup.
  • President Barack Obama will order federal cafeterias to favor buying meat from farms that don’t overuse antibiotics, as his administration seeks to curtail agricultural practices blamed for the rise of drug-resistant bacteria.


  • European stocks fell for the third time in four days as Greece’s creditors said talks must step up over the country’s fate before it runs out of time and money.
  • U.K. stocks fell for a third session, led by declines in tobacco firms and food retailers
  • Frontier Airlines Inc. will buy 12 Airbus Group NV single-aisle jets valued at $1.3 billion to replace its smallest, oldest planes with larger models that boast more seats.
  • The brinkmanship over Greece’s future intensified after Prime Minister Alexis Tsipras said his government submitted a new proposal aimed at breaking the stalemate just as creditors set about finalizing theirs.
  • Chinese stocks rose for a second day, with a gauge of technology shares climbing to a record, amid optimism government stimulus measures will buoy the economy and boost earnings.



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