Financial Markets Closing

US Consumer Confidence jumped more than forecast in September on the housing industry recovering and rising stock prices. The index increased to 70.3, the highest level in seven months from 61.3 in August.

Equities    Level    Δ 1d %
S&P 500    1,442    -1.05
DJIA    13,458    -0.75
Nasdaq    3,118    -1.36
EuroStoxx 50    2,568    0.41
Nikkei    9,092    0.25
Hang Seng    20,699    0.02

Stocks dropped, sending the S&P500 to its biggest loss in 3 months amid concern that the global stimulus measures won't boost growth. Equities turned lower after an initial gain with the Federal Reserve Bank of Philadelphia's President Plosser stating that the new bond-buying plan probably won't boost growth or hiring, and may jeopardize the central bank's credibility.

Staples plans to shut down 45 stores in Europe and 15 stores in the U.S. as part of a plan to save $250 million a year. A total of $1.12 billion in pretax charges will result in fiscal year ending in January, while pretax savings will be generated by the end of fiscal 2015. The move was made in part by sales declines the past two quarters on less use of traditional office products and the European recession. SPLS' stock dropped 4.45%.

General Electric plans to accelerate growth at its new mining unit through acquisitions and by boosting sales of products it already makes to miners. The company plans to expand its presence in this unit even though Catepillar trimmed its 2015 forecast and BHP Billiton delayed an estimated $68 billion of projects. JPM estimates that global mining capex are poised to decline 14% through 2014 from a peak of $136 billion this year. Nevertheless, GE Mining's CEO thinks that the "cycle timing is actually good."

Credit    Level    Δ 1d %
iBoxx IG    121.22    0.2%
iBoxx HY    92.2    -0.9%
CDX IG 5yr S19    102.56    3.9%
CDX HY 5yr S18    100.12    -1.1%

Level 3 Communications plans to refinance $1.2 billion of its term loan (tranche B II & B III). The company also reaffirmed its forecast from July that it expects 20-25% Adj. EBITDA growth in 2012 and capex 12% of revenue.

Commodities    Level    Δ 1d %
WTI Crude    90.86    -1.16
Natural Gas    2.94    3.77
Copper    59,190    0.37
Corn    744    -0.13
Gold    1,761    0.01

FX    Level    Δ 1d %
EURUSD    1.2905    0.05
DXY $ Index    79.7    0.19

Rates    Yield %    Δ 1d bp
U.S. 10yr    1.67    -4
Germany 10yr    1.58    2
Spain 10yr    5.72    6
Italy 10yr    5.09    5