The Market In 5 Minutes: Thursday, March 10, 2016
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ECB cuts rates to new low and expands asset-buying program.
U.S. stocks like the news.
ECB main interest rate now 0 percent vs 0.05 percent previously. Deposit rate cut to -0.4 percent.
Eurozone 2016 inflation forecast cut to 0.1 percent from 1 percent predicted in December 2015.
US initial jobless claims for March hit 259.0K below 275.0K consensus estimate.
China producer prices fall for 48th month, but consumer prices get unexpected bump; Shanghai comp index down 2%.
North Korea fires missiles into sea.
Iran says missile tests not violation of U.S. nuclear deal.
BZ Desk Focus
Vale (NYSE: VALE) downgraded at Stifel on iron ore worries.
Supernus Pharma (NASDAQ: SUPN) up day after positive court decision.
Analysts seem to unanimously agree that iron ore's run won't last.
Reactions to ECB decision vary. Mint Partners' Bill Blain says Draghi's gone "all-in." Bank of America says ECB QE means low yields for a "long time to come." Deutsche Bank criticizes the bank's lack of control over inflation.
Amazon (NASDAQ: AMZN) analysts like recent developments in air cargo and 'Style Code Live.' KeyBanc still Overweight, Bank Of America still at Buy.
Sell-Side's Most Noteworthy Calls
Argus analyst says Transocean (NYSE: RIG) outlook still challenging, isn't buying yet.
Supernus expected to have more strength after new epilepsy drug patent decision, Northland says.
Morgan Stanley still sees 40 percent upside at Mobileye (NYSE: MBLY).
Deutsche Bank sees room to run at Sunrun (NASDAQ: RUN), sets $15 target.
Alibaba secures $3B loan to finance more acquisitions and investments.
Notable Media Stories
Twitter deletes tweets with oil data in them following American Petroleum Institute complaints.
Air Force vet tried to join ISIS.
Bridgewater hires ex-Apple CEO.
WSJ survey shows more economists think Fed will delay rate hike.
The shale "reckoning" comes to Oklahoma.
8 reasons the global economy is in crisis.
Special Reuters report reveals lead dangers lurking in private wells.
Kelly Blue Book study shows ride sharing doesn't pose threat to car buying.
Josh Brown asks: When do you want your risk, now or later?
John Mauldin says retirement is impossible with negative interest rates.
Why U.S. automakers are under-performing in 1 simple chart.
Pershing Square reports amended 9 percent stake in Valeant.
Jackson Square takes 10.03 passive stake in Verifone (NYSE: PAY).
Trending On Social
SQ, CSIQ, BOX, SIEN, WMB, DG, UNG, BTU, BBRY, RARE [StockTwits].
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