Market Wrap – Energy Gushes Higher June 7, 2022

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  • #38160
    Truman
    Participant

    S&P Futures vs Fair Value: -19.0
    10 yr Note: 3.016%
    USD/JPY: 132.68 +0.79
    EUR/USD: 1.0683 -0.0008
    Europe: FTSE: 0.0% DAX: -0.9% CAC: -0.7%
    Asia: Hang Seng: -0.6% Shanghai: +0.2% Nikkei: +0.1%
    Gold (1849.50 +5.80)
    Silver (22.00 -0.09)
    Crude (117.94 -0.55)

    #38175
    TradersCom
    Keymaster

    Target (TGT 144.82, -14.85, -9.3%): lowers Q2 operating margin guidance to ~2% (prior 5.3%) in conjunction with plan to focus on inventory optimization; reaffirms FY23 revenue growth in low-to-mid-single digit range
    Walmart (WMT 120.46, -4.41, -3.5%): trading lower in response to the warning from Target
    Kohl’s (KSS 46.00, +3.88, +9.2%): enters into three-week exclusive negotiations with Franchise Group for possible acquisition of company for $60.00 per share
    J.M. Smucker (SJM 122.00, -1.26, -1.0%): beats by $0.34, beats on revs; guides FY23 EPS below consensus, revs above consensus
    Tractor Supply Co. (TSCO 196.52, -2.57, -1.3%): guides Q2 EPS and revenue slightly above consensus; sees comparable store sales growth of 5%

    #38138
    TradersCom
    Keymaster

    Today’s stock market was another sharp reversal in the whole as the bear market continuation still holds, S&P 500 failed to penetrate the May 27 l
    [See the full post at: Market Wrap – Energy Gushes Higher June 7, 2022]

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