Traders Market Weekly: Jobs and a Data Dependent Fed

Viewing 15 posts - 61 through 75 (of 96 total)
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    Tech Earnings

    Align Tech (ALGN) beats by $0.19, beats on revs; guides Q3 revs in-line; guides FY23 revs above consensus… ALGN up 12.4%

    eBay (EBAY) beats by $0.04, beats on revs; guides Q3 EPS below consensus, revs in-line… EBAY down 4.9%

    Edwards Lifesciences (EW) beats by $0.01, beats on revs; guides Q3 EPS below consensus, revs in-line; raises FY23 guidance… EW down 6.1%

    Lam Research (LRCX) beats by $0.91, beats on revs; guides Q1 EPS in-line, revs in-line… LRCX up 2.0%

    Meta Platforms (META) beats by $0.07, beats on revs; guides Q3 revs above consensus, increases FY23 expense guidance, but lowers capex guidance… META up 6.7%

    Seagate Tech (STX) beats by $0.09, misses on revs; guides Q1 EPS, revs below consensus; pauses buybacks for remainder of the fiscal year… STX down 2.0%

    ServiceNow (NOW) beats by $0.32, reports revs in-line… NOW down 3.7%


    Consumer Earnings

    Chipotle Mexican Grill (CMG) beats by $0.34, reports slight miss on revs; Q2 comps +7.4% in-line with prior guidance… CMG down 8.5%

    Mattel (MAT) beats by $0.13, beats on revs; reaffirms FY23 EPS guidance, revs guidance… MAT down 2.1%

    O’Reilly Auto (ORLY) beats by $0.14, beats on revs; raises FY23 EPS, revs outlook; promotes Brad Beckham to CEO, effective upon Greg Johnson retirement in January 31,2024… ORLY down 2.5%

    United Rentals (URI) beats by $0.87, beats on revs; guides FY23 revs in-line… URI down 3.6%

    Western Union (WU) beats by $0.12, beats on revs; guides FY23 EPS above consensus, revs below consensus… WU up 3.0%


    National Vision (EYE) announces its partnership with Walmart Inc. (WMT) will be ending in 2024…

    EYE down 11.1%


    Fair Value for Thursday, July 27:

    S&P 500: 4,594
    Nasdaq 100: 15,604
    DJIA: 35,672


    8:30 ET: Advance Q2 GDP (consensus 1.6%; prior 2.0%), advance Q2 GDP Deflator (consensus 3.0%; prior 4.1%), Weekly Initial Claims ( consensus 233,000; prior 228,000), Continuing Claims (prior 1.754 mln), June Durable Orders (consensus 1.0%; prior 1.7%), Durable Orders ex-transportation (consensus 0.2%; prior 0.6%), June advance goods trade deficit (-$91.1 bln), June advance Retail Inventories (prior 0.8%), and June advance Wholesale Inventories (prior -0.1%)
    10:00 ET: June Pending Home Sales (consensus 0.3%; prior -2.7%)
    10:30 ET: Weekly natural gas inventories (prior +41 bcf)
    13:00 ET: $35 bln 7-yr Treasury note auction results


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

    Japan’s Nikkei: +0.8%,
    Hong Kong’s Hang Seng: +1.5%,
    China’s Shanghai Composite: -0.2%,
    India’s Sensex: -0.7%,
    South Korea’s Kospi: +0.4%,
    Australia’s ASX All Ordinaries: +0.7%.


    Property names continued outperforming in Hong Kong on expectations for more stimulus.

    China’s Ministry of Industry will set out standards in an aim of reaching full self-driving technology by 2030.

    Samsung forecast an improvement in global chip demand in its report for Q2.

    The Hong Kong Monetary Authority followed the Fed’s rate hike with a 25-bps increase of its base rate to 5.75%, as expected.


    Major European indices trade in positive territory ahead of an expected 25-bps rate hike from the European Central Bank.

    STOXX Europe 600: +0.9%,
    Germany’s DAX: +1.0%,
    U.K.’s FTSE 100: +0.3%,
    France’s CAC 40: +1.4%,
    Italy’s FTSE MIB: +1.3%,
    Spain’s IBEX 35: +0.7%.


    Germany’s August GfK Consumer Climate -24.4 (expected -24.7; last -25.2)
    Italy’s July Consumer Confidence 106.7 (expected 107.8; last 108.6) and Business Confidence 99.3 (expected 99.8; last 108.6)
    Spain’s June Retail Sales 6.4% yr/yr (expected 0.6%; last 6.1%). Q2 Unemployment Rate 11.6% (expected 13.0%; last 13.3%)

    Mercedes reported strong results for Q2 and raised its profit forecast for the year while STMicroelectronics also reported a solid quarter.


    U.K.’s July CBI Distributive Trades Survey -25 (last -9)

    Barclays reported in-line net income for Q2 but warned that net interest income in the U.K. is on track for a decrease.

    Economic advisors to British Chancellor Hunt reportedly believe that the Bank of England should slow its hiking cycle.


    Comcast (CMCSA 44.01, +1.10, +2.6%): beats by $0.15, beats on revs

    Northrop Grumman (NOC 458.36, +1.20, +0.3%): beats by $0.01, beats on revs; guides FY23 EPS in-line, raises revs mostly above consensus

    Honeywell (HON 205.00, -3.26, -1.6%): beats by $0.02, reports revs in-line; guides FY23 EPS in-line, revs in-line

    McDonald’s (MCD 297.45, +5.70, +2.0%): beats by $0.39, beats on revs; US comps increased +10.3%; IDL comps +14%, led by China


    Netflix (NFLX 425.24, +2.57, +0.6%): aims to restructure advertising agreement with Microsoft, according to WSJ

    Anheuser Busch (BUD 59.32, +0.63, +1.1%): to eliminate less than 2% of staff, according to CNN


    Alot of data dropped:

    Weekly initial jobless claims totaled 221,000 (233,000) following a total of 228,000. Continuing claims came in at 1.690 million after a revised count of 1.749 million in the prior week (from 1.754 million).

    GDP rose 2.4% in the advance reading for Q2 (consensus 1.6%) following a 2.0% increase in the prior reading. The GDP Deflator rose 2.2% in the advance reading for Q2 (consensus 3.0%) from 4.1% in the prior reading.

    Durable orders jumped 4.7% in June (consensus 1.0%) after a revised 2.0% increase in May (from 1.7%). Durable orders, excluding transportation, rose 0.6% in June (consensus 0.2%) following a revised 0.7% increase in May (from 0.6%).

    The advance report for the international trade in goods showed a deficit of $87.8 billion in June from a deficit of $91.1 billion. The retail inventories rose 0.7% in the advance report for June following a revised 0.7% increase (from 0.8%). Wholesale inventories dropped 0.3% in the advance report for June from a revised 0.3% decline (from -0.1%).


    The S&P 500 futures are up 35 points and are trading 0.7% above fair value.
    The Nasdaq 100 futures are up 218 points and are trading 1.3% above fair value.
    The Dow Jones Industrial Average futures are up 90 points and are trading 0.3% above fair value

    Treasury yields moved higher in response to the data.
    The 2-yr note yield is up five basis points to 4.88% and the 10-yr note yield is up three basis points to 3.88%.
    The U.S. Dollar Index is up 0.5% to 101.37.

Viewing 15 posts - 61 through 75 (of 96 total)
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