Traders Market Weekly: US Elections, Rates and Inflation

Viewing 15 posts - 46 through 60 (of 66 total)
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  • #47005
    Truman
    Participant

    Major European indices trade in the red.

    STOXX Europe 600: -1.2%,
    Germany’s DAX: -1.1%,
    U.K.’s FTSE 100: -0.6%,
    France’s CAC 40: -0.7%,
    Italy’s FTSE MIB: -0.8%,
    Spain’s IBEX 35: -1.6%.

    #47006
    Truman
    Participant

    Eurozone’s September Unemployment Rate 6.6%, as expected (last 6.7%)
    U.K.’s October Services PMI 48.8 (expected 47.5; last 50.0)
    Italy’s September Unemployment Rate 7.9% (expected 7.8%; last 7.9%)
    Spain’s October Unemployment change -27,000 (last 17,700)
    Swiss October CPI 0.1% m/m (expected 0.2%; last -0.2%); 3.0% yr/yr (expected 3.2%; last 3.3%)
    European Central Bank President Lagarde reiterated her hawkish comments, saying that a recession won’t be “sufficient” to settle inflation.
    There is speculation that the British government will extend windfall taxes on energy producers, seeking more than GBP40 bln over five years.
    BMW and Stellantis reported strong revenue growth for Q3.
    Norges Bank raised its key rate by 25 bps to 2.50% while the Bank of England is expected to announce a 75-bps rate hike to 3.00% at 8:00 ET.

    #47007
    Truman
    Participant

    Qualcomm (QCOM 103.51 -8.99 -7.99%): reports EPS in-line, revs in-line; guides Q1 EPS below consensus, revs below consensus
    Etsy (ETSY 95.64 +8.10 +9.25%): reports Q3 (Sep) results, beats on revs; guides Q4 revs in-line
    Peloton (PTON 7.18 -1.45 -16.80%): reports Q1 (Sep) results, misses on revs; guides Q2 revs below consensus
    eBay (EBAY 40.40 +2.34 +6.15%): beats by $0.07, beats on revs, GMV down 11% yr/yr, Active Buyers down 11% yr/yr; guides Q4 EPS in-line, revs in-line
    Fortinet (FTNT 46.49 -6.74 -12.66%): beats by $0.06, beats on revs; guides Q4 EPS above consensus, revs above consensus; guides FY22 EPS above consensus, revs above consensus
    Booking Holdings (BKNG 1,851.72 +73.54 +4.14%): beats by $3.18, beats on revs
    Roku (ROKU 43.81 -10.51 -19.35%): beats by $0.35, beats on revs; guides Q4 revs below consensus; CFO Louden to leave in 2023
    Moderna (MRNA 131.51 -17.11 -11.51%): misses by $0.58, misses on revs

    #47008
    Truman
    Participant

    Weekly initial jobless claims came in at 217,000 (consensus 222,000) after last week’s revised total of 218,000 (from 217,000). Continuing claims totaled 1.485 million after last week’s total of 1.438 million.

    The trade deficit increased to $73.3 billion in September (consensus -$71.08 billion) from a revised -$65.7 billion (from -$67.4 billion) in August.

    The preliminary productivity reading for Q3 rose 0.3% (consensus 0.5%) following a 4.1% decline in Q2. Preliminary unit labor costs rose 3.5% in Q3 (consensus 4.2%) following a 10.2% increase in Q2.

    #47009
    Truman
    Participant

    Dow 31948.23 -201.56 (-0.63%)
    Nasdaq 10312.98 -151.67 (-1.45%)
    SP 500 3720.54 -39.22 (-1.04%)

    10-yr Note -26/32 4.16

    NYSE Adv 1256 Dec 1718 Vol 371 mln
    Nasdaq Adv 1740 Dec 2553 Vol 2.6 bln

    Strong: Energy, Industrials, Materials, Utilities
    Weak: Information Technology, Communication Services, Financials, Health Care

    #47010
    Truman
    Participant

    S&P 500 energy sector (+2.4%)

    Conocophillips (COP 134.46, +7.35, +6.3%),
    Apa Corp (APA 46.89, +2.67, +6.0%),
    Marathon Oil Corp (MRO 31.43, +1.67, +5.5%)

    Boosting sector gains after reporting favorable quarterly results.

    #47011
    Truman
    Participant

    The S&P 500 consumer discretionary sector (-0.6%)

    Performance is boosted by some decent earnings-driven gains in names like Etsy (ETSY 100.31, +12.75, +14.5%), Royal Caribbean Cruises (RCL 52.42, +2.75, +5.7%), and Booking Holdings (BKNG 1857.11, +78.93, +4.4%).

    Sector components MGM Resorts (MGM 32.29, -2.83, -8.1%) and Marriot (MAR 148.41, -4.58, -3.0%) suffer losses after reporting quarterly results.

    #47012
    Truman
    Participant

    S&P 500 information technology sector (-2.2%)

    Performance is dragged down by big earnings-driven losses in Fidelity Nat’l Info (FIS 62.24, -17.29, -21.8%), Fortinet (FTNT 45.75, -7.53, -14.2%), and Cognizant Tech (CTSH 51.62, -8.64, -14.3%).

    #47013
    Truman
    Participant

    The PHLX Semiconductor Index exhibits a slimmer loss than the three major averages, down 0.3%, despite heavy selling in Qualcomm (QCOM 105.16, -7.29, -6.5%) following its disappointing guidance.

    Qorvo (QRVO 83.30, -1.09, -1.3%) is another losing standout after disappointing with quarterly results.

    #47034

    I cannot believe I witnessed a RARE NO-HITTER by ASTROs last night 🙂

    Dow 32,001.25 -146.51 -0.46%
    S&P 500 3,719.89 -39.80 -1.06%
    Nasdaq 10,342.94 -181.86 -1.73%
    VIX 25.20 -0.66 -2.55%
    Gold 1,633.70 -16.30 -0.99%
    Oil 88.12 -1.88 -2.09%

    #47035

    and A FAV composition of GOOD CHEER for our future ahead in 2023 🙂

    #47054
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended the week on a mostly higher note.

    —Equity Markets—

    Japan’s Nikkei: -1.7% (+0.4% for the week)
    Hong Kong’s Hang Seng: +5.4% (+8.7% for the week)
    China’s Shanghai Composite: +2.4% (+5.3% for the week)
    India’s Sensex: +0.2% (+1.7% for the week)
    South Korea’s Kospi: +0.8% (+3.5% for the week)
    Australia’s ASX All Ordinaries: +0.6% (+1.7% for the week)

    #47055
    Truman
    Participant

    Markets in Hong Kong and China outperformed amid reports that inspectors from the U.S. Public Company Accounting Oversight Board completed their work in China about two weeks ahead of schedule.
    South Korea’s Defense Minister Lee said that North Korea appears to be preparing to conduct a nuclear test. China will purchase 140 aircraft from Airbus for about $17 bln.
    Japan’s October Services PMI 53.2 (last 53.0)
    Australia’s September Retail Sales 0.6% m/m, as expected (last 0.6%). Q3 Retail Sales 0.2% qtr/qtr (expected 0.4%; last 1.0%). October AIG Construction Index 43.3 (last 46.5)
    Singapore’s September Retail Sales 3.3% m/m (last -1.2%); 11.2% yr/yr (last 13.3%)

    #47056
    Truman
    Participant

    Major European indices are looking for a higher finish to the week.

    —Equity Markets—

    STOXX Europe 600: +1.4% (+1.1% week-to-date)
    Germany’s DAX: +1.9% (+1.0% week-to-date)
    U.K.’s FTSE 100: +1.6% (+3.6% week-to-date)
    France’s CAC 40: +2.3% (+1.8% week-to-date)
    Italy’s FTSE MIB: +1.6% (+2.4% week-to-date)
    Spain’s IBEX 35: +0.8% (+0.1% week-to-date)

    #47057
    Truman
    Participant

    Eurozone’s September PPI 1.6% m/m (expected 1.7%; last 5.0%); 41.9% yr/yr (expected 42.0%; last 43.4%). October Services PMI 48.6 (expected 48.2; last 48.8)
    Germany’s September Factory Orders -4.0% m/m (expected -0.5%; last -2.0%). October Services PMI 46.5 (expected 44.9; last 45.0)
    U.K.’s October Construction PMI 53.2 (expected 50.5; last 52.3)
    France’s September Industrial Production -0.8% m/m (expected -1.0%; last 2.7%). October Services PMI 51.7 (expected 51.3; last 52.9)
    Italy’s October Services PMI 46.4 (expected 48.5; last 48.8)
    Spain’s September Industrial Production 3.6% yr/yr (expected 3.7%; last 5.2%). October Services PMI 49.7 (expected 48.3; last 48.5)

Viewing 15 posts - 46 through 60 (of 66 total)
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