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North Korea informed Japan that it plans to launch satellite between August 24 and 31 while South Korea urged DPRK to abandon the plan.
Major European indices trade firmly in the green.
—Equity Markets—
STOXX Europe 600: +1.2%
Germany’s DAX: +1.1%
U.K.’s FTSE 100: +0.5%
France’s CAC 40: +1.0%
Italy’s FTSE MIB: +1.0%
Spain’s IBEX 35: +1.0%^^^ +! to one of greatest posters & presidents for excellent insights
Still I’m SUPER-BEARISH on K, WALL & MAIN streets & 100% cash under the mattress
The deer, family & pugs are ready to head for the bunkers – lol 🙂Dow 34,288.83 -174.86 -0.51%
S&P 500 4,387.55 -12.22 -0.28%
Nasdaq 13,505.87 8.28 0.06%
VIX 17.16 0.03 0.18%
Gold 1,926.10 3.10 0.16%
Oil 80.25 -0.47 -0.58%
BITCOIN 25,819YAY – INDIA MOON LANDING ON SOUTH POLE SUCCESSFUL 🙂
https://www.reuters.com/world/india/india-counts-down-crucial-moon-landing-2023-08-23/
Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.
Japan’s Nikkei: +0.5%,
Hong Kong’s Hang Seng: +0.3%,
China’s Shanghai Composite: -1.3%,
India’s Sensex: +0.3%,
South Korea’s Kospi: -0.4%,
Australia’s ASX All Ordinaries: +0.3%.Manufacturing PMI readings from Japan and Australia ticked up in their flash readings for August, but remained in contractionary territory while Japan’s Services PMIs showed a slight acceleration in the pace of growth.
Japan’s flash August Manufacturing PMI 49.7 (expected 49.5; last 49.6) and flash Services PMI 54.3 (expected 53.9; last 53.8)
Australia’s flash August Manufacturing PMI 49.4 (expected 49.6; last 49.6) and flash Services PMI 46.7 (expected 47.9; last 47.9)South Korea’s September Manufacturing BSI Index 67 (expected 72; last 72)
New Zealand’s borrowing needs in the four years to 2026/27 will be 35% higher than what was planned eight months ago.
New Zealand’s Q2 Retail Sales -1.0% qtr/qtr (expected -2.6%; last -1.6%) and Core Retail Sales -1.8% qtr/qtr (expected -2.5%; last -1.6%)Singapore’s July CPI -0.2% m/m (last 0.5%); 4.1% yr/yr, as expected (last 4.5%). Core CPI 3.8% yr/yr, as expected (last 4.2%)
U.S. Secretary of Commerce Raimondo will visit China early next week.
Hong Kong banned the import of sea products from Japan after Japan’s government began releasing treated radioactive water from the Fukushima plant.
Major European indices trade near their flat lines alongside rising sovereign debt while the U.K.’s FTSE (+0.7%) outperforms.
STOXX Europe 600: +0.2%,
Germany’s DAX: UNCH,
U.K.’s FTSE 100: +0.7%,
France’s CAC 40: -0.2%,
Italy’s FTSE MIB: UNCH,
Spain’s IBEX 35: +0.1%Manufacturing PMI readings from Germany and France improved in their flash readings for August, but both remained in contractionary territory.
Services PMI readings from Germany and the U.K. fell into contraction while France’s reading showed a deepening slowdown.
Eurozone’s flash August Manufacturing PMI 43.7 (expected 42.6; last 42.7) and flash Services PMI 48.3 (expected 50.5; last 50.9)
Germany’s flash August Manufacturing PMI 39.1 (expected 38.7; last 38.8) and flash Services PMI 47.3 (expected 51.5; last 52.3)
U.K.’s flash August Manufacturing PMI 42.5 (expected 45.0; last 45.3) and flash Services PMI 48.7 (expected 51.0; last 51.5)
France’s flash August Manufacturing PMI 46.4 (expected 45.0; last 45.1) and flash Services PMI 46.7 (expected 47.5; last 47.1)Retail Earnings:
Foot Locker (FL 15.75, -7.45, -32.1%): reports EPS in-line, revs in-line; guides FY24 EPS below consensus, revs below consensus; pausing dividend
Kohl’s (KSS 26.41, +0.68, +2.6%): beats by $0.29, misses on revs; reaffirms FY24 EPS guidance, revs guidance
Peloton (PTON 5.13, -1.86, -26.6%): misses by $0.28, reports revs in-line; guides Q1 revs below consensus
Urban Outfitters (URBN 35.75, +1.66, +4.9%): beats by $0.21, beats on revs, comps +4.9%
Bath & Body Works (BBWI 33.99, -0.95, -2.7%): beats by $0.10, reports revs in-line; guides Q3 EPS in-line, revs below consensus; guides FY24 EPS in-line, revs below consensus
Advance Auto (AAP 68.50, +1.16, +1.9%): misses by $0.26, reports revs in-line; guides FY23 EPS below consensus, revs above consensus; announces executive leadership changes
Abercrombie & Fitch (ANF 47.45, +6.28, +15.3%): beats by $0.93, beats on revs; guides Q3 revs above consensus; guides FY24 revs above consensusCharles Schwab (SCHW 56.50, +0.04, +0.1%): Lower amid debt offering, news of streamlining operations via office reductions, layoffs.
Analog Devices (ADI 165.00, -11.66, -6.6%): misses by $0.03, reports revs in-line; guides Q4 EPS below consensus, revs below consensus
Apellis (APLS 39.09, +8.33, +27.1%): Provides Updates on Injection Kits and Rare Safety Events with SYFOVRE® (pegcetacoplan injection)
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