Traders Market Weekly: Hello 2024, Unexpected Opportunity on The Menu

Viewing 15 posts - 1 through 15 (of 94 total)
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  • #69650
    Truman
    Participant

    HAPPY NEW YEAR!!!

    Iran sent a warship to the Red Sea after the U.S. Navy destroyed Houthi vessels that attacked a Maersk cargo ship.

    tensions ramped up already…

    #69651
    Truman
    Participant

    China

    Domestic travel in China was up more than 150% yr/yr during the New Year’s weekend, according to Xinhua.

    China’s December Caixin Manufacturing PMI rose to 50.8 from 50.7 (expected 50.4).
    December Manufacturing PMI fell to 49.0 from 49.4 (expected 49.5)
    Non-Manufacturing PMI rose to 50.4 from 50.2 (expected 50.5).

    #69652
    Truman
    Participant

    South Korea
    President Yoon said that the domestic equity market is undervalued.

    South Korea’s December S&P Manufacturing PMI fell to 49.9 from 50.0.
    December trade surplus reached $4.48 bln (expected surplus of $6.26 bln; last surplus of $3.78 bln) as imports fell 10.8% yr/yr (expected -11.4%; last -11.6%) and exports rose 5.1% yr/yr (expected 6.6%; last 7.7%).

    #69653
    Truman
    Participant

    Singapore
    Q4 GDP expanded 1.7% qtr/qtr (last 1.3%), growing 2.8% yr/yr (last 1.0%).
    Q4 URA Property Index was up 2.7% qtr/qtr (last 0.8%).

    #69654
    Truman
    Participant

    Australia
    December Judo Bank Manufacturing PMI dipped to 47.6 from 47.7 (expected 47.8)
    December Commodity Prices were down 10.7% yr/yr (last -12.8%).

    #69655
    Truman
    Participant

    Eurozone
    European Central Bank policymaker De Cos repeated that the timing of rate cuts will depend on data.

    EZ November M3 Money Supply was down 0.9% yr/yr (expected -1.0%; last -1.0%).
    EZ November Private Sector Loans were up 0.5% yr/yr (expected 0.8%; last 0.6%) and loans to nonfinancials were unchanged yr/yr (last -0.3%).

    Eurozone’s December Manufacturing PMI rose to 44.4 from 44.2 (expected 44.2)
    Germany’s December Manufacturing PMI rose to 43.3 from 42.6 (expected 43.1).
    France’s December Manufacturing PMI fell to 42.1 from 42.9 (expected 42.0).
    Italy’s December Manufacturing PMI rose to 45.3 from 44.4 (expected 44.4).
    Spain’s December Manufacturing PMI dipped to 46.2 from 46.3 (expected 47.0).

    #69656
    Truman
    Participant

    U.K.’s December Manufacturing PMI fell to 46.2 from 47.2 (expected 46.4).

    #69657
    Truman
    Participant

    Commodities:
    WTI Crude: +1.9% to $73.00/bbl
    Gold: +0.2% to $2076.00/ozt
    Copper: -0.3% to $3.877/lb
    Currencies:
    EUR/USD: -0.8% to 1.0960
    GBP/USD: -0.6% to 1.2645
    USD/CNH: +0.4% to 7.1484
    USD/JPY: +0.9% to 142.16

    #69658
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Tuesday on a mixed note while markets in New Zealand and Japan were closed with Japan’s Nikkei scheduled to remain closed on Wednesday.

    Japan’s Nikkei: -0.2%,
    Hong Kong’s Hang Seng: -1.5%,
    China’s Shanghai Composite: -0.4%,
    India’s Sensex: -0.5%,
    South Korea’s Kospi: +0.6%,
    Australia’s ASX All Ordinaries: +0.5%.

    South Korea’s President Yoon said that the domestic equity market is undervalued.

    #69659
    Truman
    Participant

    Japan was hit by a big earthquake on Monday with reports pointing to at least 48 casualties.

    • This reply was modified 3 months, 2 weeks ago by Truman.
    #69660
    Truman
    Participant

    Major European indices trade on a mostly lower note while Spain’s IBEX (+0.6%) outperforms with bank stocks contributing to the relative strength.

    STOXX Europe 600: -0.2%,
    Germany’s DAX: -0.2%,
    U.K.’s FTSE 100: -0.2%,
    France’s CAC 40: -0.4%,
    Italy’s FTSE MIB: +0.4%,
    Spain’s IBEX 35: +0.6%.

    The dollar is continuing last week’s rebound against the euro and Sterling.

    #69662
    Truman
    Participant

    Manufacturing PMI readings from Germany, France, U.K., Spain, and Italy remained in contractionary territory, but they were a bit better than expected.

    #69663
    Truman
    Participant

    Apple (AAPL 188.87, -3.66, -1.9%): downgraded to Underweight from Equal Weight at Barclays, citing weakness in iPhone sales volume among other factors; Key antitrust decisions await Apple (AAPL) this year, according to FT

    #69664
    Truman
    Participant

    Uber (UBER 61.09, -0.48, -0.8%): reiterated as a top pick at Wells Fargo

    #69665
    Truman
    Participant

    NVIDIA (NVDA 489.43, -5.79, -1.2%): named a “best idea” for 2024 at Stifel

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