Japan trading is closed for the Showa Day holiday. The
SPASX200 is beaten -1.9% with all major sectors lower. The KOSPI is down -0.2%.
Samsung Electronics reports profits in line with expectations. Samsung is the
top unit volume smartphone maker.
The SSEC is flat at 4477. The HSI drops -0.2%. The PBOC
continues to support China’s economy with bank-friendly programs.
There is a shake-up in the Saudi Arabia political family
structure. King Salaman names Interior Minister Mohammed bin Nayef as the new
heir to the throne. Salaman’s son, Defense Minister Mohammed bin Salaman, is
now second in line to succeed the king. King Salaman is placing younger more
loyal faces higher up in the House of Al Saud hierarchy.
The Nepal earthquake tragedy continues as aid and rescue
efforts fall far short of the need. The death toll is over 4600 and continues climbing.
Baltimore riots continue overnight but the situation is far
less violent than the previous evening. The 10 PM EST curfew takes effect and
groups of protestors refuse to leave the streets. One dozen arrests are made and
law enforcement and the National Guard are restoring order.
European indexes begin the session moving higher but shortly
after the opening bell fall on their sword. The FTSE, CAC and DAX trade dead
flat. At 3:40 AM EST, S&P -3. Dow -26. Nasdaq -13. Euro 1.0995 a whisker
from 1.10. Dollar/yen 118.92. Pound 1.5389. Aussie dollar 0.7993.
Oil trades lower. WTIC oil 56.67. Brent oil 64.36. Natural
gas 2.53. Gold 1209. Silver 16.52. Copper is down -0.5% to 2.7745.
Treasury yields are; 2-year 0.56%, 5-year 1.40%, 10-year
1.99%, 30-year 2.69%. The German bund yield is running higher above 0.2% to
0.213%. A few hours ago the bund yield was under 0.16%. Japan 10-year yield
0.307%.
VW bounces +0.8% after beating on earnings. Norsk Hydro
forecasts a 3% increase in demand for aluminum for 2015 ex China. Auto makers
such as F moving to aluminum vehicle bodies are supporting demand. UK retailer
Home Retail trades higher on strong profits. Retailer Next is up +2% beating
sales expectations. Subsea 7, an oil services firm, jumps +4% after beating
earnings expectations. BCS drops -0.7% after announcing plans to set further
funds aside for litigation costs. Stainless steel company Outokumpu collapses
-7%. KRFT trades down -0.8% after last evening's earnings.
The ECB plans to
[Text is Redacted: Purchase April 2015-04 to Read the Complete Chronology]
rollout of the Apple Watch after finding a defect in the watch. The ‘tapping’ functions of the watch are not working properly and a Chinese supplier AAC Technologies is blamed. AAPL has to scrap watches that were assembled and ready for shipment. Delivery delays are expected as Apple addresses the problem. Apple refuses to provide further comment. The early adopters and Apple cult enthusiasts receive a slap to the face. AAPL drops -0.5% in afterhours trading.
[Text is Redacted: Purchase April 2015-04 to Read the Complete Chronology]
rollout of the Apple Watch after finding a defect in the watch. The ‘tapping’ functions of the watch are not working properly and a Chinese supplier AAC Technologies is blamed. AAPL has to scrap watches that were assembled and ready for shipment. Delivery delays are expected as Apple addresses the problem. Apple refuses to provide further comment. The early adopters and Apple cult enthusiasts receive a slap to the face. AAPL drops -0.5% in afterhours trading.
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