Traders Market Weekly: Big Three Central Banks Resolve to be Tested.

Viewing 15 posts - 16 through 30 (of 57 total)
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  • #52033
    Truman
    Participant

    Markets in South Korea and Singapore will reopen tomorrow while Hong Kong will return from holiday on Thursday.
    Japan’s Manufacturing PMI remained in contraction for the third consecutive month in the flash reading for January, reaching its lowest level since late 2020. Foxconn is reportedly increasing its investment in a manufacturing facility in Mexico.
    Japan’s flash January Manufacturing PMI 48.9 (expected 49.4; last 48.9) and flash Services PMI 52.4 (expected 51.4; last 51.1). December BoJ Core CPI 3.1% yr/yr (expected 2.9%; last 2.9%)
    Australia’s flash January Manufacturing PMI 49.8 (last 50.2) and flash Services PMI 48.3 (last 47.3). December NAB Business Confidence -1 (expected 3; last -4) and NAB Business Survey 12 (last 20)

    #52034
    Truman
    Participant

    Major European indices trade on a lower note.

    —Equity Markets—

    STOXX Europe 600: -0.5%
    Germany’s DAX: -0.4%
    U.K.’s FTSE 100: -0.4%
    France’s CAC 40: -0.1%
    Italy’s FTSE MIB: -0.2%
    Spain’s IBEX 35: -0.2%

    #52035
    Truman
    Participant

    Flash Manufacturing and Services PMI readings for the eurozone improved from their December levels, but Manufacturing PMI remained below 50.0, indicating continued contraction in the sector.
    European Central Bank President Lagarde and other ECB policymakers have spoken in favor of more rate hikes.
    French Finance Minister Le Maire said that inflation is expected to slow around the middle of this year.
    Eurozone’s flash January Manufacturing PMI 48.8 (expected 48.5; last 47.8) and flash Services PMI 50.7 (expected 50.2; last 49.8)
    Germany’s flash January Manufacturing PMI 47.0 (expected 47.9; last 47.1) and flash Services PMI 50.4 (expected 49.6; last 49.2). February GfK Consumer Climate -33.9 (expected -33.0; last -37.6)
    U.K.’s flash January Manufacturing PMI 46.7 (expected 45.4; last 45.3) and flash Services PMI 48.0 (expected 49.6; last 49.9). January CBI Industrial Trends Orders -17 (expected -8; last -6). December Public Sector Net Borrowing GBP26.58 bln (expected GBP22.30 bln; last GBP18.82 bln)
    France’s flash January Manufacturing PMI 50.8 (expected 49.6; last 49.2) and flash Services PMI 49.2 (expected 49.8; last 49.5). January Business Survey 103 (expected 102; last 102)
    Italy’s Q3 Public Debt 4.7% (last 3.1%)
    Swiss December trade surplus CHF2.827 bln (expected surplus of CHF3.23 bln; last surplus of CHF2.405 bln)

    #52036
    Truman
    Participant

    3M (MMM 116.00, -6.62, -5.4%): misses by $0.11, reports revs in-line; guides FY23 revs below consensus; guides FY23 EPS below consensus; to cut 2500 roles
    Johnson & Johnson (JNJ 168.93, +0.62, +0.4%): beats by $0.11, reports revs in-line; guides FY23 EPS above consensus, revs in-line
    Verizon (VZ 38.72, -0.91, -2.3%): reports EPS in-line, revs in-line; guides FY23 EPS below consensus
    Travelers (TRV 185.99, -0.37, -0.2%): reports EPS in-line, revs in-line
    Adv. Micro Devices (AMD 74.69, -1.84, -2.4%): downgraded to Market Perform from Outperform at Bernstein
    General Electric (GE 80.43, +0.66, +0.8%): beats by $0.08, misses on revs; guides FY23 EPS below consensus
    Alphabet (GOOG 100.08, -1.13, -1.2%): US expected to file antitrust lawsuit against Google (GOOG) today over alleged dominance in digital advertising, according to Bloomberg
    lululemon athletica (LULU 309.60, -6.48, -2.1%): downgraded to Underperform from Market Perform at Bernstein
    Halliburton (HAL 40.80, +0.23, +0.6%): beats by $0.05, reports revs in-line
    Raytheon Technologies (RTX 97.50, +1.25, +1.3%): beats by $0.02, reports revs in-line; guides FY23 EPS in-line, revs in-line; plans to realign into three business segments
    Lockheed Martin (LMT 448.74, +7.64, +1.7%): beats by $0.42, beats on revs; guides FY23 EPS in-line, revs in-lin

    #52037
    Truman
    Participant

    The S&P 500 futures are down 21 points and are trading 0.5% below fair value.
    The Nasdaq 100 futures are down 89 points and are trading 0.7% below fair value.
    The Dow Jones Industrial Average futures are down 162 points and are trading 0.5% below fair value.

    Many mega cap stocks are lower this morning, weighing on the equity futures market.

    Apple (AAPL 139.84, -1.27, -0.9%), Tesla (TSLA 141.38, -2.37, -1.7%), and Alphabet (GOOG 99.67, -1.54, -1.5%) are among the more influential laggards.

    Alphabet trades down on news that the US is expected to file an antitrust lawsuit against Google today over alleged dominance in digital advertising, according to Bloomberg.

    Treasury yields are climbing off earlier lows.
    The 2-yr note yield is up one basis point to 4.24% and the 10-yr note yield is flat at 3.51%.

    #52057

    NYSE had early TECH issues in opening this morning where the GOLDMAN flash servers
    that put fractions of cents into the “bit bucket” — may have been a little overactive – lol
    Or the DOOMSDAY clock having annual reset to 90 seconds close to MIDNIGHT & nukes came into play
    We must be careful with those TIME PASSAGES in the YEAR OF THE KAT :)

    https://www.cnbc.com/2023/01/24/many-new-york-stock-exchange-listed-stocks-halted-for-a-technical-issue.html

    #52058

    Although 2023 is Chinese year of the “WABBIT” :)

    #52060

    Ohhhhhhh the humanity …. about dozen CLASSIFIED documents found in VP PENCE
    Indiana home … Move the DOOMSDAY CLOCK up even closer to MIDNIGHT
    ;) :)

    #52064

    Dow 33,733.96 104.40 0.31%
    S&P 500 4,016.95 -2.86 -0.07%
    Nasdaq 11,334.27 -30.14 -0.27%
    VIX 19.43 -0.38 -1.92%
    Gold 1,938.70 10.10 0.52%
    Oil 80.12 -1.50 -1.84%

    #52070
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended the midweek session on a mixed note while markets in China and Hong Kong remained closed for Lunar New Year.

    —Equity Markets—

    Japan’s Nikkei: +0.4%
    Hong Kong’s Hang Seng: CLOSED
    China’s Shanghai Composite: CLOSED
    India’s Sensex: -1.3%
    South Korea’s Kospi: +1.4%
    Australia’s ASX All Ordinaries: -0.3%

    #52071
    Truman
    Participant

    Australia’s CPI was up 7.8% yr/yr in Q4, representing the sharpest rate of growth since 1990. ANZ lowered its forecast for the next Reserve Bank of Australia rate hike to 50 bps from 75 bps. The bank expects a terminal rate of 5.25%. Former Bank of Japan policymaker Maeda said that the new BoJ governor is likely to start phasing out yield curve control policy.
    Japan’s December Leading Index -1.2% m/m (last 0.4%) and Coincident Indicator -0.3% m/m (last -1.2%)
    Australia’s Q4 CPI 1.9% qtr/qtr (expected 1.6%; last 1.8%); 7.8% yr/yr (expected 7.5%; last 7.3%). December MI Leading Index -0.1% m/m (last -0.1%)
    New Zealand’s Q4 CPI 1.4% qtr/qtr (expected 1.3%; last 2.2%); 7.2% yr/yr (expected 7.1%; last 7.2%)
    Singapore’s December CPI 6.5% yr/yr (expected 6.6%; last 6.7%) and Core CPI 5.1% yr/yr (expected 5.0%; last 5.1%)

    #52072
    Truman
    Participant

    Major European indices trade in the red.

    Equity Markets—

    STOXX Europe 600: -0.7%
    Germany’s DAX: -0.5%
    U.K.’s FTSE 100: -0.4%
    France’s CAC 40: -0.5%
    Italy’s FTSE MIB: -0.6%
    Spain’s IBEX 35: -0.5%

    #52073
    Truman
    Participant

    Expectations are on the rise for a Bank of England rate cut before the end of the year after cooler than expected PPI figures for December.
    Swiss National Bank Vice Chair Schlegel said underlying inflation pressures are persisting and that additional rate hikes should not be ruled out at this time.
    EasyJet reported strong bookings for January, resulting in an improved outlook for the year.
    ASML beat Q4 expectations and guided for a 25% yr/yr rise in 2023 revenue.
    Germany’s January ifo Business Climate Index 90.2, as expected (last 88.6). January Current Assessment 94.1 (expected 95.0; last 94.4) and Business Expectations 86.4 (expected 85.0; last 83.2)
    U.K.’s December Input PPI -1.1% m/m (expected -0.6%; last 0.6%); 16.5% yr/yr (expected 18.0%; last 19.2%). December Output PPI -0.8% m/m (expected 0.3%; last 1.0%); 14.7% yr/yr (expected 16.4%; last 17.5%)
    France’s December jobseeker total 2.817 mln (last 2.810 mln)
    Spain’s December PPI 14.7% yr/yr (last 20.7%)
    Swiss January ZEW Expectations -40.0 (last -42.8)

    #52074
    Truman
    Participant

    Microsoft (MSFT 236.07, -5.97, -2.5%): beats by $0.01, reports revs generally in-line; Azure revenue growth +38% constant currency vs +37% CC prior guidance; guides on call for MarQ, revs guided below consensus; sees revenue growth between 17%-19% for its Intelligent Cloud business
    AT&T (T 19.62, +0.46, +2.4%): beats by $0.03, reports revs in-line; guides FY23 EPS below consensus
    Amazon (AMZN 93.96, -2.36, -2.5%): losing ground in the wake of Microsoft’s disappointing guidance for its cloud business; workers are expected to strike in UK today, according to Bloomberg
    Boeing (BA 209.80, -2.18, -1.0%): misses by $1.95, reports revs in-line; reaffirms FY23 cash flow guidance
    Texas Instruments (TXN 175.52, -1.52, -0.9%): misses by $0.01, reports revs in-line; guides Q1 EPS in-line, revs in-line
    Capital One (COF 104.87, -1.64, -1.5%): misses by $1.04, reports revs in-line
    Tesla (TSLA 140.87, -1.64, -1.5%): confirms $3.6 bln investment in Gigafactory Nevada
    Intuitive Surgical (ISRG 234.84, -23.14, -9.0%): misses by $0.02, reports revs in-line; Sees 2023 procedure growth of 12-16%, sees non-GAAP gross margin of 68-69%
    F5 Networks (FFIV 140.00, -6.47, -4.4%): beats by $0.14, reports revs in-line; guides Q2 EPS below consensus, revs in-line; guides FY23 revs in-line
    News Corp (NWS 20.84, +0.93, +4.7%) and Fox Corporation (FOXA 33.26, +0.59, +1.8%): News Corp confirms Murdoch withdraws proposal to explore a potential combination of News Corp and Fox Corp
    ASML (ASML 656.66, -13.35, -2.0%): beats by $0.27, beats on revs; guides Q1 revs in-line; guides FY23 revs above consensus; raises dividend
    Kimberly-Clark (KMB 129.16, -5.47, -4.1%): beats by $0.03, reports revs in-line; guides FY23 EPS below consensus, revs in-line

    #52075
    Truman
    Participant

    The S&P 500 futures are down 42 points and are trading 1.1% below fair value.
    The Nasdaq 100 futures are down 189 points and are trading 1.6% below fair value.
    The Dow Jones Industrial Average futures are down 278 points and are trading 0.8% below fair value.

    Equity indices in the Asia-Pacific region ended the midweek session on a mixed note while markets in China and Hong Kong remained closed for Lunar New Year. Australia’s CPI was up 7.8% yr/yr in Q4, representing the sharpest rate of growth since 1990. ANZ lowered its forecast for the next Reserve Bank of Australia rate hike to 50 bps from 75 bps. The bank expects a terminal rate of 5.25%. Former Bank of Japan policymaker Maeda said that the new BoJ governor is likely to start phasing out yield curve control policy.

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