Traders Market Weekly: No Fear as Risk Complacency Rises

Viewing 15 posts - 16 through 30 (of 43 total)
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  • #74415

    Speaking of INFLATION & BIDENOMICS (lol)
    DOW just exceeded 40,000 for 1st time this morning :)

    #74416

    Dow 39,869.38 -38.62 -0.10%
    S&P 500 5,297.10 -11.05 -0.21%
    Nasdaq 16,698.32 -44.07 -0.26%
    VIX 12.42 -0.03 -0.24%
    Gold 2,381.40 -13.50 -0.56%
    Oil 79.36 0.73 0.93%

    #74418

    Dow 40,003.59 134.21 0.34%
    S&P 500 5,303.27 6.17 0.12%
    Nasdaq 16,685.97 -12.35 -0.07%
    VIX 11.97 -0.45 -3.62%
    Gold 2,421.20 35.70 1.50%
    Oil 79.96 0.73 0.92%

    #74433

    Wishing our HOUSTON members full & expedient recovery from the recent derecho
    New NASDAQ record set with some light profit taking on DOW

    Dow 39,806.77 -196.82 -0.49%
    S&P 500 5,308.13 4.86 0.09%
    Nasdaq 16,794.87 108.91 0.65%
    VIX 12.19 0.20 1.67%
    Gold 2,432.00 14.60 0.60%
    Oil 79.73 -0.33 -0.41%

    #74446
    TradersCom
    Keymaster

    Back online sort of I see many of us are not yet – thank you CI for the kind wishes:)

    #74447
    Truman
    Participant

    NVIDIA (NVDA 947.80, +23.01, +2.5%) was a winning standout from both spaces after several analysts raised their price targets in front of NVDA’s earnings report Wednesday afternoon. Microsoft (MSFT 425.34, +5.13, +1.2%) also logged a decent gain after introducing Co Pilot+ PCs and in front of its Build Developers Conference, which starts tomorrow.

    The S&P 500 information technology sector (+1.3%) led the index by a wide margin, benefitting from price action in its semiconductor and mega cap components.

    The heavily-weighted financial sector logged the largest loss, falling 1.2%. This price action was due in part to a sizable loss in JPMorgan Chase (JPM 195.58, -9.21, -4.5%) after turning lower in response to CEO Dimon saying at its Investor Day that the company is not expecting to buy back a lot of stock at these levels.

    The consumer discretionary sector (-0.7%) was the next worst performer due to losses in Amazon.com (AMZN 183.54, -1.16, -0.6%) and Tesla (TSLA 174.95, -2.51, -1.4%). Declines in retailer components also contributed to the underperformance of the consumer discretionary sector in front of earnings report from some influential names in the space this week.

    #74448
    Truman
    Participant

    S&P 500:+11.3% YTD
    Nasdaq Composite: +11.9% YTD
    S&P Midcap 400: +8.6% YTD
    Dow Jones Industrial Average: +5.6% YTD
    Russell 2000: +3.7% YTD

    Europe: DAX +0.3%, FTSE +0.1%, CAC +0.4%
    Asia: Nikkei +0.8%, Hang Seng +0.4% Shanghai +0.5%

    Commodities:

    Crude Oil -0.27 @ 79.27
    Nat Gas +0.12 @ 2.75
    Gold +19.40@ 2437.50
    Silver +1.14 @ 32.43
    Copper +0.05 @ 5.10

    #74449
    Truman
    Participant

    Nordson (NDSN) beats by $0.03, misses on revs; guides Q3 EPS below consensus, revs below consensus; guides FY24 EPS below consensus, revs below consensus… NDSN down 13.6%
    Palo Alto Networks (PANW) beats by $0.07, reports revs in-line; guides Q4 EPS in-line, revs in-line… PANW down 9.1%
    Zoom Video (ZM) beats by $0.16, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY25 EPS above consensus, revs above consensus… ZM down 0.4%

    #74450
    Truman
    Participant

    Peloton (PTON) to launch global refinancing; to offer $275 mln aggregate principal amount of convertible senior notes due 2029… PTON down 4.1%

    #74451
    Truman
    Participant

    Fair Value for Tuesday, May 21:

    S&P 500: 5,328
    Nasdaq 100: 18,752
    DJIA: 39,925

    #74452
    Truman
    Participant

    Iranian President Ebrahim Raisi was killed in a helicopter crash, according to the New York Times

    Benny Gantz says he will leave Israel’s government if Prime Minister Benjamin Netanyahu did not develop future war plan for Gaza, according to the New York Times

    Regulators consider lowering proposed capital requirements for large banks, according to the Wall Street Journal
    Senate will vote again on border security bill this week, but it is not expected to pass, according to Politico

    US officials believe undersea cables might be vulnerable to Chinese tampering, according to the Wall Street Journal
    New coronavirus variant could cause increase in cases, according to Financial Times

    Thousands still without power in Houston following severe storms, according to CBS News

    #74453
    Truman
    Participant

    Upgrades:

    Globus Medical (GMED) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $80
    HUYA (HUYA) upgraded to Overweight from Neutral at JP Morgan; tgt $9
    Micron (MU) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $130
    Teradyne (TER) upgraded to Buy from Neutral at Goldman; tgt raised to $161
    Universal Health (UHS) upgraded to Buy from Neutral at UBS; tgt raised to $226
    Universal Music Group N.V. (UMGNF) upgraded to Hold from Reduce at HSBC Securities

    Downgrades:

    EPR Properties (EPR) downgraded to Underperform from Neutral at BofA Securities; tgt $40
    Impinj (PI) downgraded to Neutral from Buy at Goldman; tgt $156
    Rio Tinto (RIO) downgraded to Neutral from Buy at Citigroup
    Sea Limited (SE) downgraded to Neutral from Accumulate at Phillip Securities
    Volkswagen AG (VWAGY) downgraded to Underweight from Equal-Weight at Morgan Stanley

    #74465

    Dow 39,873.58 66.81 0.17%
    S&P 500 5,321.50 13.37 0.25%
    Nasdaq 16,832.62 37.75 0.22%
    VIX 11.95 -0.20 -1.65%
    Gold 2,427.60 -10.90 -0.45%
    Oil 79.06 -0.74 -0.93%

    #74468
    Truman
    Participant

    NVIDIA (NVDA 953.86, +6.06, +0.6%) volatile price action in front of its earnings report after Wednesday’s close. NVDA shares had been up as much as 0.7% today and traded down as much as 1.7%, which contributed to the overall mixed feeling in the market.

    Some high-profile stocks that reported earnings since yesterday’s close received negative responses their results. Palo Alto Networks (PANW 311.66, -12.11, -3.7%) was among the standouts.

    Retailers Lowe’s (LOW 224.86, -4.31, -1.9%) and AutoZone (AZO 2820.83, -103.21, -3.5%) received negative responses to their earnings news, acting as a limiting factor for the S&P 500 consumer discretionary sector along with a loss in Amazon.com (AMZN 183.15, -0.39, -0.2%). The sector still logged a gain thanks to a jump in shares of Tesla (TSLA 186.60, +11.65, +6.7%).

    Macy’s (M 20.08, +0.98, +5.1%) is not an S&P 500 component, but it is another retailer that reported earnings, logging a solid gain in response.

    Target (TGT 155.78, -0.93, -0.6%), TJX (TJX 97.70, -0.09, -0.1%), Petco Health and Wellness (WOOF 2.45, -0.13, -5.0%), and Williams-Sonoma (WSM 314.38, -2.20, -0.7%) report earnings in front of tomorrow’s open.

    Treasury yields settled slightly lower, but that didn’t translated into support for stocks. The 2-yr note yield settled one basis point 4.83% and the 10-yr note yield fell two basis points today to 4.41%.

    #74469
    Truman
    Participant

    There was no US economic data of note again today, but Wednesday’s calendar features the release of the Minutes from the April 30-May 1 FOMC meeting and the Existing Home Sales report for April. Wednesday’s lineup also features the weekly MBA Mortgage Index and the weekly EIA Crude Oil Inventories.

    Nasdaq Composite: +12.1% YTD
    S&P 500:+11.6% YTD
    S&P Midcap 400: +8.4% YTD
    Dow Jones Industrial Average: +5.8% YTD
    Russell 2000: +3.5% YTD

    Overseas:

    Europe: DAX -0.2%, FTSE -0.1%, CAC -0.7%
    Asia: Nikkei -0.4%, Hang Seng -2.1% Shanghai -0.4%

    Commodities:

    Crude Oil -0.69 @ 78.58
    Nat Gas -0.08 @ 2.67
    Gold -10.70 @ 2426.80
    Silver -0.39 @ 32.14
    Copper +0.01 @ 5.11

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