Pre Market update for 21 July 2022
Allies Fin Serve Telegram.me/AlliesFinMkt. Updates :
SGX Nifty -3 pts (16492) from last trade 16495 ,
Nikkei -108 pts ,
Hangseng -79 pts ,
Now @6.56am .
Dow +47.79 pts ,Nsdq +184.50 pts, S&P
+23.21 pts, Bovespa +42 pts , Ftse -31 pts , Dax -26 pts , Cac -16 pts , Crude @ $99.44 brl (-0.44), Brent @ $106.50 brl (-0.32) , Gold @ 1687.90 (-12.39), Silver @ $18.470 (-0.19), Euro @ $1.0183, JPY @ $138.43, INR @ 80.025
🔹US GOVT. 10-YEAR YIELD : 3.02%
Today's Corporate Action, 21 July Ex Date :
ADCINDIA
Final Dividend - Rs. - 4.0000
ADCINDIA
Special Dividend - Rs. - 10.0000
ANGELONE
Interim Dividend - Rs. - 7.6500
BANSWRAS
Dividend - Rs. - 2.5000
BASF
Final Dividend - Rs. - 6.0000
BHAGIL
Dividend - Rs. - 4.0000
BLUESTARCO
Final Dividend - Rs. - 10.0000
BOMBCYC
Final Dividend - Rs. - 5.0000
CARBORUNIV
Final Dividend - Rs. - 2.0000
CHOLAFIN
Final Dividend - Rs. - 0.7000
DABUR
Final Dividend - Rs. - 2.7000
DATAMATICS
Final Dividend - Rs. - 1.2500
DHANUKA
Final Dividend - Rs. - 6.0000
GALAXYSURF
Final Dividend - Rs. - 18.0000
HERITGFOOD
Final Dividend - Rs. - 2.5000
HGINFRA
Final Dividend - Rs. - 1.0000
HIL
Final Dividend - Rs. - 25.0000
HIL
Special Dividend - Rs. - 20.0000
HNDFDS
Stock Split From Rs.10/- to Rs.2/-
IMFA
Final Dividend - Rs. - 7.5000
INTELLECT
Final Dividend - Rs. - 2.5000
JAYAGROGN
Final Dividend - Rs. - 3.0000
JENBURPH
Final Dividend - Rs. - 12.0000
KAIRA
Final Dividend - Rs. - 12.0000
KIRLFER
Final Dividend - Rs. - 3.0000
LT
Final Dividend - Rs. - 22.0000
MAHLOG
Final Dividend - Rs. - 2.0000
MINDACORP
Final Dividend - Rs. - 0.7000O
NTIC
Stock
Split From Rs.10/- to Rs.1/-
PDSL
Final Dividend - Rs. - 23.8500
POONAWALLA
Final Dividend - Rs. - 0.4000
PRADPME
Final Dividend - Rs. - 1.5000
PREMCO
Final Dividend - Rs. - 3.0000
RAJNISH
Bonus issue 2:1
RAJNISH
Stock Split From Rs.10/- to Rs.2/-SEIL
Stock Split From Rs.10/- to Rs.1/-SUMICHEM
Final Dividend - Rs. - 1.0000
SWISSMLTRY
Right Issue of Equity Shares
TAPARIA
Final Dividend - Rs. - 52.5000
TCMLMTD
E.G.M.
TECHM
Final Dividend - Rs. - 15.0000
TECHM
Special Dividend - Rs. - 15.0000
THERMAX
Dividend - Rs. - 9.0000
TTKPRESTIG
Final Dividend - Rs. - 3.5000
Today's Key Results/Board Meetings, 21-Jul-22 :
ARISINT
General;Preferential Issue of shares
CANFINHOME
General;Quarterly Results
CRISIL
Interim Dividend;Quarterly Results
CSBBANK
Quarterly Results
CYIENTQuarterly Results
DRCSYSTEMS
Quarterly Results;General
ELECON
Quarterly Results
EMBASSY
Quarterly Results
FRANKLININD
General;Quarterly Results
GSFC
Quarterly Results
GUJCOTEX
Quarterly Results
HAPPSTMNDS
General;Quarterly Results
HINDZINC
Quarterly Results
IDBI
Quarterly Results
ISEC
Quarterly Results
JSWENERGY
General;Quarterly Results
KAJARIACER
Quarterly Results
LAXMIPATI
A.G.M.;General
MFL
Quarterly Results
MPHASIS
Quarterly Results
ORIENTBELL
Quarterly Results
OSIAJEE
Right Issue of Equity Shares;Interim Dividend;Quarterly Results
PCBL
Quarterly Results
PERSISTENT
Audited Results;General
PIONDIST
Quarterly Results
POWERINDIA
Quarterly Results
PRISMX
Quarterly Results;Rights Issue
PVR
Quarterly Results
RAJGLOWIR
Quarterly Results
RANJEET
General
RAP
General
RKFORGEI
nterim Dividend;Quarterly Results
RMLQuarterly Results
SAMKRG
Quarterly Results
SHREEPA
CIssue Of Warrants;General;Preferential Issue of shares
SRF
Interim Dividend;Quarterly Results
TOKYOPLAST
Quarterly Results
TRADWIN
Quarterly Results
VIVANZA
Quarterly Results
ZSWASTSA
Quarter
SEC. IN F&O BAN FOR, 21 JUL, 2022 :
1. DELTACORP
ADDITION : NIL
DELETION : NIL
India May Allow Sugar Mills to Export More to Prevent Defaults
• India Consumer Price for Rural Workers Rose 6.76% in June
o June Consumer Price for Firm Workers Rose 6.43%
• Amazon Fails to Halt India’s Future Retail Going into Bankruptcy
o Ruling gives Reliance an edge in buying Future Retail
• India Go First A320 Jet Diverted After Windshield Crack Mid-Air
• India Cumulative Monsoon Rainfall 11% Above Normal as of July 20
• Global Funds Buy Net INR17.8B of India Stocks Wednesday: NSE
o Domestic funds sell net 2.3b rupees of stocks
• Foreign Investors Buy Net INR10.6B of Indian Equities on Tuesday
• Foreigners Sell Net INR17.5B Indian Equity Derivatives Wednesday
• Paytm’s Vijay Shekhar Sharma, Ola’s Ritesh Agarwal to meet parliamentary panel: PTI
• Jaishankar holds talks with Namibian deputy PM: PTI
• Congress to protest as Sonia Gandhi set to appear before ED: PTI
• Ador Welding (AWL): Wins INR1.45b order from ONGC Uran plant
• AU Small Finance Bank (AUBANK): 1Q Net Income +32% Y/y to 2.68b rupees, est. 2.78b, provisions -59% q/q to 383.7m; Gross NPA 1.96% vs. 1.98% q/q
• Care Ratings (CARE): Approves INR1.22b for buy-back of up to 2.37m shares at INR515/share via tender offer
• Ceat (CEAT): 1Q Net Income -61% Y/y to 92.5m rupees, est. 116m; revenue +48% to 28.2b; Approves issue of up to INR5b of debentures
• Future Retail (FRETAIL): Says NCLT admits Bank of India petition vs. Co.
• Gland Pharma (GLAND): 1Q net income -35% Y/y to 2.29b rupees, misses est. 2.74b; revenue -25% to 8.57b
• Havells India (HAVL): 1Q Net Income +3.4% Y/y to 2.42b rupees, misses est. 3.16b; Revenue +63% to 42.3b
• IndusInd Bank (IIB): 1Q Net Income +64% Y/y to 16b rupees, beats est. 14.4b, provisions -14% q/q to 12.5b; Gross NPA 2.35% vs. 2.27% q/q
• NTPC (NTPC): Signs accord with Moroccan agency for green energy
• Oracle Financial (OFSS): 1Q Net Income 4.92B Rupees Vs. 5.24B Rupees Y/y
• Sonata Software (SSOF): To consider proposal of free shares issue July 25
• State Bank of India (SBIN): Approves Raising Up to $1.4B Capital in FY23
• Strides Pharma (STR): To consider raising funds via bonds on July 25
• Tata Communications (TCOM): 1Q net income +84% Y/y to 5.44b rupees, beats est. 3.54b; revnue +5.1% to 43.1b
• Wipro (WPRO): 1Q Net Income -21% Y/y to 25.6b rupees, misses est. 29.97b; revenue +18% to 215.3b; Sees Revenue Growing 3%-5% Sequentially
India Daybook – Stocks in News
Hindalco: Alcoa reports strong set of numbers for the June ended quarter (Positive)
Som Distilieries: Revenue at Rs. 437 cr vs Rs. 98 cr, up 345.9%. Net Profit at Rs. 25 cr vs Loss Rs. 12.6 cr. (Positive)
OFSS: Revenues up 9.8% at Rs 1402 cr vs Rs 1277 cr, Net profit up 2.1% at Rs 492 cr vs Rs 482 cr (Positive)
Sonata Software: Board to consider proposal for issue of Bonus Shares on 25 July (Positive)
Ador: Received a Letter of Award (LOA) of Rs 145cr from ONGC, Uran (Positive)
McNally Bharat: Wins Rs 240 cr arbitration award. (Positive)
JM Fin: To acquire 12.8% stake in BigHaat - owns and operates the agri-input marketplace. (Positive)
Dr Reddy's: Company gets US FDA nod for generic of Vascepa capsules (Positive)
Marksans Pharma: Company gets US FDA nod for nerve pain drug Lyrica's generic (Positive)
Wipro: See $ revenue growth in the range of 3-5%, See $ revenue in the range of $2,817-2,872 m (Neutral)
Sasken Technologies: Company appoints Abhijit Kabra as Chief Executive Officer w.e.f. July 20. (Neutral)
Au Small Bank: Profit at Rs 267.8 cr Vs poll of Rs 295.9 Cr, NII 976 cr vs 724 cr YoY (Neutral)
Indusind Bank: Profit at Rs 1603.0 cr Vs poll of Rs 1415.0 Cr, NII 4125 cr vs 3563 cr YoY (Neutral)
Tata Comm: Profit up 47.78% at Rs 544.82 cr vs Rs 368.67 cr, Revenue at Rs 4310.0 cr vs Rs 4263 cr (QoQ) (Neutral)
Yes Bank: R Gandhi and Ananth Narayan Gopalakrishnan cease to be Additional Directors on the Board of Yes Bank Limited with immediate effect (Neutral)
Sasken: Net profit down 55.19% at Rs 15.23 cr Vs Rs 33.99 cr, Revenue down 7.7% at Rs 101.3 cr Vs Rs 109.8 cr YoY
Sagar Cem Cons net loss at Rs 13.10 cr vs profit of Rs 48.58 cr, Cons net revenue up 42.1% at Rs 557.7 cr vs Rs 392.6 cr YoY.
Ceat: Net profit down 61.43% at Rs 9.25 cr vs Rs 23.98 cr, Revenue up 47.8% at Rs 2,818.3 cr vs Rs 1,906.3 cr YoY
Havells: Net profit at Rs 242.43 cr vs poll of Rs 341 cr, Revenue at Rs 4230.0 cr vs poll of Rs 4218 cr YoY
Hathway: Profit down 57% at Rs 20.95 cr vs Rs 48.78 cr, Revenue up 1.3% at Rs 447.2 cr vs Rs 441.3 cr YoY
Wipro: Revenue at Rs 21,285 cr Vs poll of Rs 21,395 cr, Profit at Rs 3183.0 cr Vs poll of Rs 3505 cr YoY.
Gland Pharma: Net Profit at Rs 229.1 cr Vs poll of Rs 279.6 cr, Revenue at Rs 857.0 cr vs poll of Rs 1094 cr YoY
JSW Ispat: Revenue at Rs. 1664 cr vs Rs. 1462 cr, up 13.8%, Net Loss at Rs. 92.37 cr vs Profit Rs. 63.32 cr
Agrotech: Revenue at Rs. 186.3 cr vs Rs. 206.3 cr, down 9.7%, Net Profit at Rs. 0.22 cr vs Rs. 7.5 cr, down 97.1%
US Markets in Detail...
SGX: 16,492 (-6) (-0.04%)
Provisional Cash Rs. In Crs. (20th July)
FIIs: +1,781 (7,606 – 5,825)
DIIs (-230) (6,033 – 6,263)
Today’s Major Corporate Earnings:
CANFINHOME, CRISIL, CSBBANK, CYIENT, GSFC, HAPPSTMNDS, HINDZINC, HSCL, IDBI, INDIAMART, ISEC, JSWENERGY, KAJARIACER, MFL, MPHASIS, PVR, RBLBANK, etc
Today
Listing of Bonus Equity Shares of TORRENT PHARMACEUTICALS LTD
16,92,07,520 Bonus Equity of Rs. 5/- each allotted on July 13, 2022.
Sensex: 55,398 +630: +1.15%
Nifty: 16,521: +180: +1.10%
BankNifty: 35,972: +252: +0.70%
NiftyIT: 28,146: +800: +2.93%
MIDCAP: 23,411: +59: +0.25%
Dow: 31,875: +48: +0.15%
S&P: 3,960: +23: +0.59%
Nas: 11,898: +185: +1.58%
Brazil: 98,286: +42: +0.04%
Ftse: 7,264 (-32) (-0.44%)
Dax: 13,282 (-26) (-0.20%)
Cac: 6,185 (-17) (-0.27%)
MOEX: 2,075: +4: +0.19%
WTI Oil: $106.6 (-0.7) (-0.7%)
Brnt: $107.25: +1: +0.9%
Gold: $1,718 (-10) (-0.60%)
Silver: $18.67 (-0.24%)
Copper: $332.5: +3: +1.03%
Copper (LME): $7,278 (-149) (-2.01%)
Alluminum (LME): $2,389 (-38) (-1.6%)
Zinc (LM): $2,949 (-58) (-1.91%)
Tin (LME): $24,810: +91: +0.37%
Eur-$: 1.0179
GBP-$: 1.1979
Jpy-$: 138.25
Re: 79.9888: +0.05%
USD- RUB: 54.7762 (-2.37%)
US10yr: 3.03%
GIND10YR: 7.449: +0.20%
$ Index: 107.0490: +0.34%
US Vix: 23.88 (-2.53%)
India Vix: 16.82 (-2.21%)
BalticDry: 2,145 (-17) (-0.79%)
ADR/GDR
Cogni: +1.04%
Infy: +0.05%
Wit (-2.31%)
IciciBk (-0.56%)
HdfcBk: +0.73%
DrRdy (-1.07%)
TataMo (-1.54%)
TatSt: +0.87%
Axis (-0.46%)
SBI: +1.77%
RIGD: +2.13%
INDA (-1.06%) (IShares MSCI INDIA ETF)
INDY (-0.95%) (IShares MSCI INDIA 50 ETF)
EPI (-0.23%) (Wisdom Tree India Earning)
PIN: +0.09% (Invesco India Etf)
Stock futures dipped on Wednesday evening as investors hoped to build on a strong start to the week amid a flurry of corporate earnings.Futures tied to the Dow Jones Industrial Average shed 76 points, or about 0.2%. S&P 500 futures ticked down 0.3%, while Nasdaq 100 futures slipped more than 0.3%.
US stocks rose in a volatile session as investors parsed the latest corporate news and the potential for geopolitical risks in Europe. The dollar gained, while the euro fell as Italy’s government looked set to collapse. Nasdaq leads stocks to finish higher as upbeat tech earnings boost investors confidence
Nasdaq finished up 1.6%, leading indexes to back-to-back gains with a wary eye on inflation and more interest rate hikes by the Fed. Netflix Inc's shares added 7.4% after the company predicted it would return to customer growth during the third quarter, while posting a smaller-than-expected 1 million drop in subscribers in the second quarter. Electric vehicle maker Tesla Inc rose 2% in extended trading after reporting a rise in quarterly profit after the bell.
Wednesday marked the highest closing level for the Nasdaq since June 8 – and the highest since June 9 for the Dow and the S&P 500.
Those moves follow Tuesday’s rally as investors, betting that markets may have finally found a bottom, shifted into more risky assets such as tech stocks.
Semiconductor stocks outperformed after the Senate pushed forward a $50 billion bill to bolster chip manufacturing in the U.S. Shares of Advanced Micro Devices jumped 4.1%, Nvidia was up 4.8%, and Qualcomm advanced 2.9%.
Some investors have been encouraged by the recent trading action, believing it is signaling that the bear market has bottomed. NYSE stocks achieved a widely followed “90% up day” on Tuesday with more than 90% of stocks listed on the exchange advancing and accounting for more than 90% of the volume.
The S&P 500 posted its first back-to-back gain in almost two weeks, with advances in tech and consumer discretionary stocks offsetting declines in defensive sectors, utilities and health care. While tech stocks briefly pared their advance after Google said it will pause hiring for two weeks, gains in Netflix Inc. on better-than-feared earnings underpinned rallies in streaming peers as well as confidence in consumers’ resilience.
After the bell, Tesla Inc. reported earnings that beat Wall Street estimates, reflecting progress in getting production back on track. The shares initially jumped on the news before trading little changed. Alcoa Corp. climbed after earnings topped estimates and the aluminum producer announced an additional $500 million share buyback.
Stocks advanced for third day in four amid optimism over the earnings season and growing speculation markets may have bottomed out. While that debate continues, with Sanford C. Bernstein strategists saying markets have yet to see full capitulation, rates markets have discarded bets the Federal Reserve will hike rates by a full percentage point next week, bolstering optimism the central bank will take a more measured approach to policy tightening.
Equity prices are trending in a roller coaster fashion, currently being at the mercy of inflation, interest rates and earnings, We're going to need another series of reporting cycles to confirm whether or not inflation indeed is getting under control.
Analysts expect aggregate year-on-year S&P 500 profit to grow 5.9% in this reporting season, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data.
On Tuesday, the Dow Jones Industrial Average rose 754 points, or 2.4%, while the S&P 500 jumped 2.8% and while the Nasdaq Composite gained 3.11%. Showing the breadth of gains, 491 components of the S&P 500 advanced.
Volume on U.S. exchanges was 11.51 billion shares, compared with the 11.43 billion average for the full session over the last 20 trading days.
Low volumes accentuate market moves historically and even though we've wiped off $10 or $15 trillion from global equities this year, there's still a lot of excess liquidity. So low volume on excess liquidity can still accentuate moves
What’s driving markets
Investors are hoping that a survey released earlier this week showing fund managers at their most bearish since the great financial crisis means sentiment can only improve from here, sparking a further rally off recent lows for stocks.
The S&P 500 and Nasdaq 100 sit above their 50-day moving averages for the first time in nearly three months, potentially signaling the downtrend finally has been broken after S&P 500 shed more than 20% so far this year.
“No one expected Netflix to trigger a decent risk-on rally for the other mega-cap tech stocks, but that is exactly what is happening. Stocks are rising as Wall Street grows confident that corporate earnings might not fall off a cliff. Pessimism won’t be completely going away as two major risk events are in the next 24 hours; the ECB rate hiking decision and the Russian decision on how much gas to let flow through the Nord Stream 1 pipeline. “
About 12% of S&P 500 index companies have reported earnings so far this quarter and of those, 68% have beaten analyst expectations, according to FactSet.
Kristina Hooper, chief global market strategist at Invesco, said she is especially focused on the outlooks and guidance by companies. “Are there specific themes that we hear from multiple companies, especially in different industries?” Hooper said. “The earnings are just looking in the rearview mirror.”
“The fact that companies are showing a certain resilience to the current environment is reassuring market operators who have now started betting on a less aggressive monetary tightening than initially expected,” said Pierre Veyret, a technical analyst at ActivTrades. “Even if we’re not out of the woods yet, more and more traders now tend to believe the worst is behind for equity markets this year.”
In U.S. economic data, existing home sales fell 5.4% to a seasonally adjusted annual rate of 5.12 million in June, the National Association of Realtors said Wednesday. This is the weakest level of sales since June 2020, during the COVID-19 lockdown. Economists polled by The Wall Street Journal expected sales to be 5.36 million.
A report from the Mortgage Bankers Association pointed to more pain for home shoppers as they deal with higher prices and interest rates. Mortgage demand declined more than 6% last week compared with the prior week, dropping to its lowest level in 22 years.
The housing market is still processing the new regime of higher borrowing costs, high inflation, and weakening consumer demand. Some cash buyers are most likely investors but also buyers who are moving from higher-priced areas such as the west coast to lower-priced areas such as the southeast…Given the time required for residential real estate markets to adjust, we may see this housing slowdown phase continue throughout the rest of this year.
More market commentary
• “While I hope markets have bottomed, and I hope extreme pessimism can result in capitulation, it’s my job to point out the underlying factors behind market moves, and the bottom line is neither the economy nor corporate earnings have felt the full brunt of Fed tightening,” Tom Essaye, a former Merrill Lynch trader who founded The Sevens Report newsletter, said in a note.
• “Netflix earnings can be interpreted that the US consumer can be doing a little bit better than anticipated,” said Ellen Hazen, chief market strategist and portfolio manager at F.L.Putnam Investment Management.
• “Without Fed support from the corner, selling pressure has been severe and finally reached the washed-out level readings we have been watching for since the S&P 500 first broke down from its head and shoulders top formation,” Craig Johnson, chief market technician at Piper Sandler, said in a note.
About 12% of S&P 500 companies have reported earnings so far this quarter. Of those, 68% have beaten analyst expectations, according to FactSet. Investors had been awaiting this earnings season for clues on how companies are coping with the worst inflation in more than 40 years.
Oil edged lower as growing stockpiles of crude and gasoline tempered fears of a tight market. Bitcoin gained for a third straight day, rising above $24,000 for the first time in more than a month.
Companies in focus
• Netflix was up 7.4% after reporting it lost half as many subscribers as feared in the second quarter and expects to add even more in the current quarter. Its streaming peers Walt Disney Co. and Paramount Global rose 3.8%.
• Shares of Biogen Inc. lost 5.8% Wednesday after the company missed on revenue in the second quarter of the year.
• Shares of Baker Hughes Co. tanked 8.3% Wednesday, after the oilfield products and services company reported second-quarter results that missed expectations, as component shortages, supply chain inflation and the suspension of Russian operations weighed on results.
• AMC Entertainment Holdings Inc. shares gained 7.1%, after the movie theater operator and “meme” stock said it paid about $50 million to repurchase about $72.5 million of its 10% second lien debt due 2026, representing about a 31% discount.
• Bath & Body Works Inc. shares rose 3.3% Wednesday after the retailer issued a downward revision of its second-quarter and full-year guidance.
• Amazon.com Inc. and Microsoft Corporation, two of the tech megacaps on Nasdaq, rose 3.8% and 1.1%, respectively.
Asian markets got a lift from Wall Street’s powerful showing overnight, with tech leading the way. Hong Kong’s Hang Seng rose 1.1%, the Shanghai Composite climbed 0.8%, and Japan’s Nikkei 225 jumped 2.7%.
Besides the positive lead from Wall Street, there were also reports that Russia and Ukraine are nearing a deal that would end the blockade on grain exports, and that Nord Stream 1 is likely to restart gas exports on schedule after maintenance is completed.
Back in Europe, the European Central Bank’s policy meeting in Frankfurt on Thursday is at the forefront of investors’ minds, with policymakers having given advance notice of a first hike in 11 years. Still, this comes against a backdrop of slowing growth, the war in Ukraine and threats to energy supplies.
European stocks closed lower on Wednesday, as investors continued to digest corporate earnings, economic data and the potential path of monetary policy.
Looking ahead, investors will be watching to see if the European Central Bank raises its benchmark interest rate by 25 or 50 basis points at its policy meeting on Thursday. With inflation at a record high of 8.6% in the eurozone, the ECB is ready to make its first interest-rate hike in 11 years.
The European Union Wednesday proposed a plan to cut gas use by 15% until March as it prepares for the “likely scenario” that Russia could halt gas exports to retaliate for European sanctions over its invasion of Ukraine.
U.K. inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country’s historic cost-of-living crisis.
The consumer price index rose 9.4% annually, according to estimates out Wednesday, slightly above a consensus forecast among economists polled by Reuters and up from 9.1% in May.
The euro tumbled as Italy’s Prime Minister Mario Draghi appeared set to fall in a confidence vote after three key parties announced they wouldn’t support him.
Risk sentiment also took a hit earlier on news the European Union is preparing for a scenario where Russia halts gas exports to retaliate against sanctions over its invasion of Ukraine. Russian President Vladimir Putin signaled Europe will start getting gas, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed.
Key events to watch this week:
• Earnings this week include Tesla
• Bank of Japan, European Central Bank rate decisions. Thursday
• Nord Stream 1 pipeline scheduled to reopen following maintenance. Thursday
Currencies
• The Bloomberg Dollar Spot Index rose 0.2%
• The euro fell 0.5% to $1.0177
• The British pound fell 0.2% to $1.1975
• The Japanese yen was little changed at 138.22 per dollar
Bonds
• The yield on 10-year Treasuries was little changed at 3.03%
• Germany’s 10-year yield declined two basis points to 1.26%
• Britain’s 10-year yield declined four basis points to 2.14%
Commodities
• West Texas Intermediate crude fell 1.9% to $102.26 a barrel
For Market Updates
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