September 11th, 2015
Daily Market Commentary
- The Producer Price Index in the U.S. was flat and down 0.8% in month-over-month and year-over-year terms, respectively.
- Excluding Food and Energy, the Producer Price Index in the U.S. was up 0.3% and 0.9% in month-over-month and year-over-year terms, respectively.
- Consumer inflation expectations in the U.K. were listed at 2%.
- Gold headed for a third weekly drop and investors cut holdings in bullion-backed funds to a three-week low as demand for a haven declined.
- Oil supplies outside OPEC will decline next year by the most in more than two decades as the price rout curbs U.S. shale output, according to the International Energy Agency.
- Bank of Montreal, Canada’s fourth-largest lender, agreed to buy General Electric Co.’s transportation finance business in the U.S. and Canada.
- U.S. stock-index futures fell, indicating equities will trim gains in a week of wild swings before a Federal Reserve rate decision next Thursday.
- Astra buys biologics bulk manufacturing facility from Amgen in Boulder, Colorado, to support the company’s portfolio of biologics medicines.
- After years of meeting demands for ever cheaper prices, many Wal-Mart Stores Inc. suppliers are saying no to new margin-squeezing storage fees and a payment schedule that could delay for months how quickly some are paid.
- Concern persisted over an impending Federal Reserve rate decision, sending European stocks lower for a second day.
- Actelion Ltd., the Swiss drugmaker that said late Thursday it’s in talks to acquire ZS Pharma Inc., fell the most in almost three weeks on investor skepticism about the rationale for the deal.
- Nespresso, Europe’s largest single-serve coffee brand, is adding a factory in Switzerland to produce capsules specially designed for the U.S., where sales growth is exceeding that of its home continent.
- Anglo American’s free cash flow position is the worst among Europe’s biggest resources stocks, yet its dividend yield is the second-best. Analysts are starting to question just how sustainable the pay-out is.
- Asian stocks fell, paring the regional benchmark measure’s first weekly advance since July. Energy and material companies declined.
- Nissan Motor Co. will extend the driving range of its Leaf electric car by 27 percent, aiming to reverse a sales slide as Tesla Motors Inc. and Toyota Motor Corp. introduce new models for green vehicle buyers.
*All information is taken from Bloomberg, unless otherwise noted.