European indices closed just off of lows, rebounding somewhat after disappointing NVDA and CAT results hit the tape. While Tech names in the region fell on the news, Banks were weaker with the Energy sector leading lower as WTI was off over 4%.  All sectors finished lower with only 135 names on the Stoxx 600 closing higher with volume down 10%.

Atlas Copco +2.2% was a standout today post reporting better 4Q numbers.  Revenue hit record levels with organic order growth returning. Weakness at its vacuum unit was less than feared with most of that unit geared towards the semiconductor space.

Over the weekend the Financial Times ran an article noting Tesco -1.7% would cut 15k jobs.  Today, the company officially said 9000 positions would be pared as it battles online shopping and discounters.

Ahead of earnings tomorrow LVMH fell 1% today with concerns that protests in Paris will weigh on numbers.

Amadeus -3.3% contributed to Spain underperforming today with the US gov shutdown leading to a concern of fewer travellers.

Overnight, Imports for Hong Kong in December were reported down 7% after the previous flat reading with exports slowing as well.  On that, their trade deficit grew from November but was smaller than expected.  Tonight, Australian NAB data points are out with a pickup in economic releases expected Wednesday which will include the US Fed.