US Markets: Broader indexes in the United States were trading on a mix note, with the S&P 500 index traded 4.38 points or 0.13% lower at 3,283.75, Dow Jones Industrial Average Index accelerated by 51.95 points or 0.18% higher and quoting at 28,959.00 and the technology benchmark index Nasdaq Composite traded lower at 9,251.06 and was down by 22.88 points or 0.25% against its previous day close (at the time of writing, before the U.S market close at ET 10:52 AM).
US News: Wall Street recorded new peak in Tuesday’s trading session, driven by stronger than expected results released by Citigroup and JP Morgan. After better than expected results declared by JP Morgan Chase & Co, its shares leapt up by around 1.9 per cent. Wells Fargo & Co shares plunged by around 4.2 per cent post dismal reporting at profit front and keeping aside around USD 1.5 billion for legal expenses. With beating estimates, shares of Citigroup Inc accelerated by 2.7 per cent. Stocks of Apple Inc surged to life-time highs and bagged around 2.14 per cent uptick. In Tuesday’s session, the shares of RTI Surgical traded 63 per cent higher, as the company agreed to divest its OEM business to Montagu Private Equity, LLP for $480M in cash and $10M in other consideration. The transaction should close in H1. Stocks of Albemarle Corp was the top performer of the S&P 500 index as on January 14, 2020 and rose by around 5.21 per cent. US consumer price inflation rate increased to 2.3% on a YoY basis in December 2019 against 2.1% reported in November 2019. However, it was broadly in line with the market consensus. The latest inflation rate in the US economy was the highest in 14 months, largely driven by sharp reversal in energy costs. Meanwhile, food inflation has been eased to 1.8% in December 2019 from 2.0% in November 2019.
S&P 500 (SPX)
Top Performers*: American Airlines Group Inc, United Airlines Holdings Inc, and Netflix Inc are top gainers and increased by 1.97%, 1.91% and 1.49% respectively.
Worst Performers*: Align Technology Inc, Martin Marietta Materials Inc, and Baker Hughes Co were the beaten down stocks and dipped by 3.42%, 2.99% and 2.17% respectively.
NASDAQ Composite (IXIC)
Top Performers*: RTI Surgical Holdings Inc, Super League Gaming Inc, and Adaptimmune Therapeutics Plc were in the bright spot and accelerated by 82.61%, 53.74% and 47.12% respectively.
Worst Performers*: Torchlight Energy Resources Inc, Stemline Therapeutics Inc, and AzurRx BioPharma Inc were among the beaten down stocks and plunged by 26.63%, 26.41% and 20.71% respectively.
Top Performing Sectors*: Telecommunications Services (up 0.50%), Energy (up 0.06%) and Consumer Non-Cyclicals (up 0.03%).
Worst Performing Sectors*: Healthcare (down 0.47%) Consumer Cyclicals (down 0.31%) and Utilities (down 0.20).
Dow Jones Industrial Average (DJI)
Top Performers*: JPMorgan Chase & Co, Visa Inc, and Caterpiller Inc were in the bright spot and increased by 1.02%, 0.54% and 0.47% respectively.
Worst Performers*: Walt Disney Co, Walmart Inc, and Johnson & Johnson were among the beaten down stocks and decreased by 0.61%, 0.55% and 0.48% respectively.
European Markets: FTSE 100 (London’s broader equity benchmark index) traded at 4.75 points or 0.06% higher at 7,622.35, the FTSE 250 index leapt up by 39.29 points or 0.18% higher at 21,756.05, and the FTSE All-Share Index ended 3.45 points or 0.08% upwards at 4,229.23 respectively. Another European equity benchmark index STOXX 600 ended at 419.59, up by 1.20 points or 0.29 per cent.
European News: In economic news, the British finance minister Sajid Javid has today said that he would be delaying the budget till March. He stated that he is in consultation over whether the retail price index of the country or the inflation figures require a correction. The British statistics regulator had earlier indicated that the Retail price index of the country will be aligned with other measures of inflation of the country i.e. CPIH after 2025. This year’s consultation will try to determine if the year of correction should be made other then 2030 and if so in which year between 2025 and 2030.
In Business news, in a bid to save British airline operator Flybe, the British finance ministry is considering allowing the airline to defer payment of £100 million worth of tax bills for a three year period. It is worth noting here that the airline had consultations with the government since the past few days in order to avoid an imminent collapse.
London Stock Exchange (LSE)
Leading Performers of the Day*: NMC HEALTH PLC (NMC), GAMES WORKSHOP GROUP PLC (GAW) and GRAFTON GROUP PLC (GFTU) zoomed up by 8.75%, 5.96% and 5.59% respectively.
Worst Performers of the Day*: MCBRIDE PLC (MCB), ELEMENTIS PLC (ELM) and CENTAMIN PLC (CEY) are the major laggards and declined by 17.38%, 13.36% and 6.68% respectively.
FTSE 100 Index
FTSE-100 index performance – 14 January 2020 (Source: Thomson Reuters)
Leading Companies of the Day*: NMC HEALTH PLC (NMC), TAYLOR WIMPEY PLC (TW.), and VODAFONE GROUP PLC (VOD) accelerated by 8.20%, 3.02% and 2.76% respectively.
Worst Companies of the Day*: PEARSON PLC (PSON), MONDI PLC (MNDI), and EVRAZ PLC (EVR) decelerated by 3.55%, 3.26% and 2.88% respectively.
Highest Volume Gainers of the Day*: LLOYDS BANKING GROUP PLC (LLOY), VODAFONE GROUP PLC (VOD), and BP PLC (BP.).
Sectors in positive zone*: Telecommunications Services (up 1.49%), Utilities (up 0.69%), and Consumer Cyclicals (up 0.53%).
Sectors in negative zone*: Basic Materials (down 0.43%), Energy (down 0.17%), and Healthcare (down 0.10%).
Currency Rates*: GBP/USD and EUR/GBP were hovering at 1.3032 and 0.8541, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.816%, and the UK 10-Year Government Bond yield was trading at 0.729%, respectively.
*At the time of writing