September 18th, 2015

Daily Market Commentary



  • The Consumer Price Index in Canada was flat and up 1.3% in month-over-month and year-over-year terms, respectively. Both figures were in line with estimates.
  • The House Price index for China was down 2.3% in August.


  • Oil headed for its third weekly gain in four after production and stockpiles dropped in the U.S.
  • Gold bulls can thank the Federal Reserve for the first weekly advance in a month.


  • Barrick Gold Corp. is shutting a major American office and dismantling its copper unit, the company’s latest steps to cut costs and overhaul operations amid the slump in gold prices.(Globe)
  • Shopify Inc. soared after the Canadian software maker teamed up with online retailing giant Inc. to help merchants create their own online stores.

United States:

  • U.S. stocks look set toopen with losses and all European indexes are down in afternoon trading as investors react to the Federal Reserve’s decision to leave interest rates unchanged because of concerns about the global economy. (CNN)
  • Investors should watch Adobe this morning. The shares are sinking about 3% pre-market after the company released earnings Thursday evening and said it was rejigging its management team. (CNN)
  • NRG Energy Inc., the worst-performing member of the S&P 500 Utilities Index this year, is considering selling fossil-fuel plants and intends to buy back shares, people with knowledge of the plan said.



  • European stocks fell as the Federal Reserve’s decision to hold off raising interest rates stoked concern about global growth. U.S. stock-index futures fell.
  • The private-equity owners of Worldpay Group Plc decided to pursue an initial public offering in which the U.K. payments processor will raise about 890 million pounds ($1.4 billion), rebuffing a bid by Ingenico Group of France.
  • Luxury homes in London are proving the toughest sell since the global financial crisis as higher taxes continue to damp demand.
  • Asian stocks outside Japan rose, with a regional gauge heading for a one-month high, as health-care stocks led gains.
  • China’s home prices rose in August in half of the 70 cities monitored by the government, spurred by easing of home-purchase restrictions and interest-rate cuts, even as the economy slowed and share markets plunged.
  • China Reinsurance Group Corp., the nation’s biggest reinsurer, received Hong Kong stock exchange approval for an initial public offering, people with knowledge of the matter said.
  • China International Capital Corp., the first Sino-foreign investment bank, received Hong Kong stock exchange approval for an initial public offering, people with knowledge of the matter said.

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