[Truman]

GE HealthCare (GEHC 78.00, -2.49, -3.1%): files for 25,000,000 shares of common stock by selling shareholder

[Truman]

Coinbase Global (COIN 49.71, -9.07, -15.5%) shares are plunging following news that the SEC is charging Coinbase for operating as an unregistered securities exchange, broker, and clearing agency.

[Truman]

The S&P 500 futures are down 4 points and are trading 0.1% below fair value.
The Nasdaq 100 futures are down 20 points and are trading 0.1% below fair value.
The Dow Jones Industrial Average futures are down 34 points and are trading 0.2% below fair value.

Treasury yields are lifting off overnight lows.

The 2-yr note yield, at 4.42% a short time ago, is up three basis points to 4.51%.
The 10-yr note yield, at 3.65% earlier, is up two basis points to 3.70%.

The U.S. Dollar Index is up 0.3% to 104.29.

[MoneyNeverSleeps]

U.S. Treasuries higher start after yesterday’s mostly flat finish. The Reserve Bank of Australia unexpectedly raised its cash rate overnight and the overall data flow was on the light side, which will remain the case during the U.S. session.

Crude oil is back near its closing level from Thursday while the U.S. Dollar Index is up 0.1% at 104.07.

Yield:
2-yr: -1 bp to 4.47%
3-yr: -2 bps to 4.11%
5-yr: -2 bps to 3.81%
10-yr: -2 bps to 3.67%
30-yr: -1 bp to 3.88%

[CautiousInvestor]

[CautiousInvestor]

May GOD bless the memory of D-Day as noted in documentary below

[CautiousInvestor]

Dow 33,573.28 10.42 0.03%
S&P 500 4,283.85 10.06 0.24%
Nasdaq 13,276.42 46.99 0.36%
VIX 13.96 -0.77 -5.23%
Gold 1,979.30 5.00 0.25%
Oil 71.54 -0.61 -0.85%

[Truman]

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.

—Equity Markets—

Japan’s Nikkei: -1.8%
Hong Kong’s Hang Seng: +0.8%
China’s Shanghai Composite: +0.1%
India’s Sensex: +0.6%
South Korea’s Kospi: UNCH
Australia’s ASX All Ordinaries: -0.1%

[Truman]

China reported a smaller than expected trade surplus for May as exports fell more than expected.
China’s May trade surplus $65.81 bln (expected surplus of $92.00 bln; last surplus of $90.21 bln). May Imports -4.5% m/m (expected -8.0%; last -7.9%) and Exports -7.5% yr/yr (expected -0.4%; last 8.5%)

China’s biggest banks have reportedly been encouraged to cut their deposit rates.

[Truman]

Goldman Sachs expects that the Reserve Bank of Australia will announce 75-bps worth of rate hikes before reaching a terminal rate. Australia’s trade minister indicated that a path is being sought to solve all trade disputes with China.

Australia’s Q1 GDP 0.2% qtr/qtr (expected 0.3%; last 0.6%); 2.3% yr/yr (expected 2.4%; last 2.6%).
May AIG Manufacturing Index -5.1 (last -20.2) and May AIG Construction Index -6.6 (last -12.4).

[Truman]

Japan’s April Leading Index 0.7% m/m (last -0.5%) and Coincident Indicator 0.2% m/m (last 0.1%)

[Truman]

Major European indices trade on a mostly lower note while Spain’s IBEX (+0.8%) outperforms with leadership from retailer Inditex after the release of solid quarterly results.

—Equity Markets—

STOXX Europe 600: UNCH
Germany’s DAX: -0.1%
U.K.’s FTSE 100: +0.1%
France’s CAC 40: +0.1%
Italy’s FTSE MIB: -0.3%
Spain’s IBEX 35: +0.8%

[Truman]

There was more talk about additional rate hikes from the European Central Bank as policymakers Schnabel and Knot said that more work has to be done.

Germany’s April Industrial Production 0.3% m/m (expected 0.6%; last -2.1%); 1.8% yr/yr (last 2.1%)

France’s April trade deficit EUR9.7 bln (expected deficit of EUR7.7 bln; last deficit of EUR8.4 bln). April Current Account deficit EUR100 mln (expected deficit of EUR800 mln; last deficit of EUR300 mln)

Italy’s April Retail Sales 0.2% m/m (expected 0.3%; last 0.0%); 3.2% yr/yr (expected 4.3%; last 5.8%)

Swiss May Unemployment Rate 2.0% (expected 1.9%; last 1.9%)

U.K.’s May Halifax House Price Index 0.0% m/m, as expected (last -0.4%); -1.0% yr/yr (expected -0.9%; last 0.1%)

[Truman]

Dave & Buster’s (PLAY 35.45, +1.71, +5.1%): beats by $0.19, misses on revs

Campbell Soup (CPB 49.30, -1.29, -2.6%): beats by $0.03, reports revs in-line; reaffirms FY23 EPS guidance, revs guidance

Casey’s General (CASY 215.00, -9.26, -4.1%): misses by $0.15, misses on revs, inside comps of +6.5%; expects FY24 inside same-store sales to increase +3-5%; increases quarterly dividend 13% to $0.43/share

Yext (YEXT 11.31, +1.71, +17.8%): beats by $0.04, reports revs in-line; guides JulQ EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus

Couchbase (BASE 18.94,- 3.29, -14.8%): beats by $0.05, beats on revs; guides Q2 revs below consensus; guides FY24 revs in-line

United Natural Foods (UNFI 20.70, -6.87, -24.9%): misses by $0.11, reports revs in-line; guides FY23 EPS below consensus, reaffirms FY23 revs guidance

[Truman]

Netflix (NFLX 414.69, +15.40, +3.9%): JPMorgan raised price target to $470 form $380 and reiterated an Overweight rating
Petrobras (PBR 12.96, +0.31, +2.5%): upgraded to Overweight from Equal Weight at Morgan Stanley

[Author]

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