Overnight, the Japanese
(INDEXNIKKEI:NI225) fell 4% and the Hang Seng Index
(INDEXHANGSENG:HSI) fell 1.53%. The Bank of Japan began its two-day
meeting early this morning, which will conclude overnight in the
US. The speculation is that the Bank of Japan will have to become
increasingly easy with its policy following lackluster growth in
inflation and consumer credit over the past six months.
(INDEXSP:.INX) closed the day down 0.26%. This marks the first time
in six weeks that index has declined for three straight days. US
equities fell rapidly at the open and slowly recovered throughout
the day. financials (tracked by the
Financial Select Sector SPDR
(NYSEARCA:XLF)) lagged the market, closing down 0.4%.
Crude inventories recorded a draw of 1.3 million barrels last week,
less than the expected draw of 1.5 million barrels. Crude dropped
1.1% to $104.10 per barrel. Gold climbed 0.3% to $1,287 an ounce.
The 10-year yield dropped 5 bps to 2.59% following an average
auction of $24 billion in new 10-year notes that stopped at a high
yield of 2.62%.
Walt Disney Company
) reported earnings that fell short of analyst estimates. The
shortfall was due in large part to the disappointing performance of
The Lone Ranger. The stock traded down 1.4%.
) reported earnings that topped estimates. The company announced
that it has agreed to buy the video advertising platform Adap.tv
for $405 million. Shares opened up 6%, but sold off in early
trading to finish up 1.5%.
The Governor of the Bank of England, Mark Carney, announced that
the target interest rate of 0.5% will not be raised until
unemployment is below 7%. The
(INDEXFTSE:UKX) closed the day down 1.41%.
Tesla Motors, Inc
) is due to release earnings after the close. Shares fell 4.5% in
Tomorrow's Financial Outlook
Initial jobless claims will be released at 8:30 a.m. EDT tomorrow.
Weekly claims are expected to come in at 335,000. The current
4-week moving average of claims stands at 341,300. Last week,
jobless claims were reported at 326,000, the lowest reading of the
Lions Gate Entertainment Corp.
Noodles & Co
(TMUS) will be releasing earnings reports tomorrow.