Traders Market Weekly: It’s a Mad World of Bond Auctions and Central Bankers

Viewing 15 posts - 31 through 45 (of 81 total)
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  • #67209
    Truman
    Participant

    Thank you TC for all the premarket updates today 🙂

    #67210
    Truman
    Participant

    Market at lunch

    Dow 32972.38 +43.42 (0.13%)
    Nasdaq 12800.85 +11.37 (0.09%)
    SP 500 4179.33 +12.51 (0.30%)
    10-yr Note +2/32 4.870
    NYSE Adv 1939 Dec 838 Vol 300 mln
    Nasdaq Adv 2491 Dec 1685 Vol 2.3 bln

    Industry Watch
    Strong: Real Estate, Utilities, Financials, Materials, Industrials, Consumer Staples
    Weak: Communication Services, Information Technology, Energy, Health Care

    Moving the Market
    — Monitoring activity in the Treasury market

    — Bank of Japan tweak to yield curve control policy less hawkish than feared, tempering concerns about a carry-trade unwind

    — Weak mega cap stocks

    — Some carryover buying interest from yesterday’s bounce

    — Digesting a heavy batch of mixed earnings news

    Relative weakness in some mega caps names has weighed on the three main indices while the broader market has benefitted from continued buy-the-dip efforts on the back of yesterday’s bounce.

    The market-cap weighted S&P 500 is up 0.2%; the equal weighted S&P 500 is up 0.6%; and the Vanguard Mega Cap Growth ETF (MGK) is up 0.1%.
    Advancers have a 7-to-3 lead over decliners at the NYSE and a 3-to-2 lead at the Nasdaq.

    Most of the S&P 500 sectors are making modest moves so far except real estate, which is up 1.5%. The financials (+0.6%) and utilities (+0.6%) sectors are also top performers while the communication services sector (-0.3%) sports the largest decline.

    There is still an element of hesitation driving today’s trade in front of the FOMC policy decision tomorrow and the Bank of England’s policy decision on Thursday.

    The 10-yr note yield is down one basis point to 4.87% and the 2-yr note yield is up three basis points to 5.07%.
    USD/JPY is at 151.60, up 1.6% in response to the BOJ decision.

    Outsized moves have generally been reserved for individual stocks with specific catalysts.

    V.F. Corp (VFC 14.83, -2.29, -13.3%), JetBlue (JBLU 3.67, -0.52, -12.4%),
    Dow components Caterpillar (CAT 227.40, -14.80, -6.1%) and Amgen (AMGN 254.03, -9.15, -3.5%) are among the worst performers following their earnings reports.

    Pinterest (PINS 29.71, +4.61, +18.4%) and Arista Networks (ANET 198.21, +22.49, +12.8%) are winning standouts after their quarterly results.

    #67211

    Dow 33,052.87 123.91 0.38%
    S&P 500 4,193.80 26.98 0.65%
    Nasdaq 12,851.24 61.75 0.48%
    VIX 18.14 -1.61 -8.15%
    Gold 1,992.70 -12.90 -0.64%
    Oil 81.35 -0.96 -1.17%

    HAPPY HALLOWEEN TO ALL 🙂

    #67212
    Truman
    Participant

    US MBA mortgage applications w.e. 27 October -2.1% vs -1.0% prior

    Market index 161.8 vs 165.2 prior
    Purchase index 125.2 vs 127.0 prior
    Refinance index 341.7 vs 354.0 prior
    30-year mortgage rate 7.86% vs 7.90% prior

    #67221
    Truman
    Participant

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

    Japan’s Nikkei: +2.4%,
    Hong Kong’s Hang Seng: -0.1%,
    China’s Shanghai Composite: +0.1%,
    India’s Sensex: -0.4%,
    South Korea’s Kospi: +1.0%,
    Australia’s ASX All Ordinaries: +0.8%.

    #67222
    Truman
    Participant

    China’s Caixin Manufacturing PMI returned into contraction after two months of expansion while Australia’s Manufacturing PMI pointed to the eighth consecutive month of contracting activity.

    China’s October Caixin Manufacturing PMI 49.5 (expected 50.8; last 50.6)
    Japan’s October Manufacturing PMI 48.7 (expected 48.5; last 48.5)
    South Korea’s October Manufacturing PMI 49.8 (last 49.9)
    Australia’s October Manufacturing PMI 48.2 (expected 48.0; last 48.7).
    BYD will reportedly discount some of its vehicles this month.

    #67223
    Truman
    Participant

    South Korea’s October trade surplus $1.64 bln (expected deficit of $2.00 bln; last surplus of $3.70 bln).
    October Imports -9.7% yr/yr (expected -4.3%; last -16.5%)
    Exports 5.1% yr/yr (expected 5.5%; last -4.4%).

    Hong Kong’s September Retail Sales 13.0% yr/yr (last 13.7%)

    Australia’s October AIG Manufacturing Index -20.9 (last -12.8) and AIG Construction Index 18.5 (last 7.1). September Private House Approvals -4.6% m/m (last 5.8%)

    New Zealand’s Q3 Employment Change -0.2% qtr/qtr (expected 0.4%; last 1.0%).
    Q3 Labor Cost Index 0.8% qtr/qtr (expected 1.0%; last 1.1%); 4.1% yr/yr (expected 4.2%; last 4.3%).
    Q3 Unemployment Rate 3.9%, as expected (last 3.6%) Q3 Participation Rate 72.00% (expected 72.50%; last 72.50%)
    Reserve Bank of New Zealand Deputy Governor Hawkesby said that slow demand from China is weighing on commodity prices and that the economy can withstand a much higher unemployment rate.

    #67224
    Truman
    Participant

    China’s BYD will reportedly discount some of its vehicles this month.

    Japan is planning to spend around JPY17 trln on economic stimulus.

    #67225
    Truman
    Participant

    Major European indices trade near their flat lines amid light volume due to All Saints’ Day.

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

    #67226
    Truman
    Participant

    U.K.’s October Manufacturing PMI 44.8 (expected 45.2; last 44.3)
    Swiss October procure.ch PMI 40.6 (expected 45.0; last 44.9)

    #67227
    Truman
    Participant

    GlaxoSmithKline beat quarterly expectations and raised its guidance
    Aston Martin missed estimates and lowered its volume growth forecast for the year due to production delays.

    #67228
    Truman
    Participant

    Bankruptcies in Sweden have reached a 24-year high.

    #67229
    Truman
    Participant

    Advanced Micro (AMD 96.90, -1.60, -1.6%): beats by $0.02, beats on revs; guides Q4 revs in-line; Data Center GPU revs to exceed $2.0 bln in 2024

    Paycom Software (PAYC 153.75, -91.22, -37.2%): beats by $0.16, misses on revs; guides Q4 revs below consensus; will expand its payroll solution into Mexico

    Match Group (MTCH 31.50, -3.10, -9.0%): beats by $0.04, reports revs in-line; guides Q4 revs below consensus

    First Solar (FLSR 147.62, +5.17, +3.6%): beats by $0.45, misses on revs; guides FY23 EPS in-line, reaffirms FY23 revs guidance

    Estee Lauder (EL 110.95, -17.92, -13.9%): beats by $0.32, reports revs in-line; guides Q2 EPS below consensus; guides FY24 EPS below consensus

    Wayfair (W 37.22, -5.39, -12.7%): beats by $0.35, misses on revs

    CVS Health (CVS 68.09, -0.92, -1.3%): beats by $0.08, beats on revs; reaffirms FY23 EPS guidance

    Humana (HUM 505.31, -18.38, -3.5%): beats by $0.62, beats on revs; guides FY23 EPS in-line

    Kraft Heinz (KHC 31.70, +0.24, +0.8%): beats by $0.06, misses on revs; guides FY23 EPS above consensus; announces leadership and organizational changes

    Norwegian Cruise Line (NCLH 13.12, -0.47, -3.5%): beats by $0.08, reports revs in-line; guides Q4 EPS below consensus

    #67230
    Truman
    Participant

    Boeing (BA 188.80, +1.98, +1.1%): upgraded to Conviction Buy from Buy at Goldman

    #67231
    Truman
    Participant

    October ADP Employment Change estimated that private payrolls grew by 113,000 (Briefing.com consensus 100,000) following an increase of 89,000 in September.

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