Traders Market Weekly: The Fed, Weed and Guns

Viewing 15 posts - 16 through 30 (of 51 total)
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    Hong Kong’s June Unemployment Rate 4.7% (last 5.1%)
    China reportedly extended lockdown measures in some parts of Shanghai.
    The Reserve Bank of Australia’s latest policy minutes showed a debate about increasing rates by 25 or 50 bps, noting that the current cash rate is well below the estimated neutral range.
    The People’s Bank of China is not expected to change its loan prime rates tomorrow.


    Major European indices trade in mixed fashion.

    STOXX Europe 600: +0.1%,
    Germany’s DAX: UNCH,
    U.K.’s FTSE 100: +0.2%,
    France’s CAC 40: -0.1%,
    Italy’s FTSE MIB: +0.3%,
    Spain’s IBEX 35: +1.2%.


    Eurozone’s June CPI 0.8% m/m, as expected (last 0.8%); 8.6% yr/yr, as expected (last 8.1%). June Core CPI 0.2% m/m, as expected (last 0.5%); 3.7% yr/yr, as expected (last 3.8%). May Construction Output 0.36% m/m (last -0.97%)

    U.K.’s May Average Earnings Index + Bonus 6.2% yr/yr (expected 6.7%; last 6.8%), May three-month employment change 296,000 (expected 170,000; last 177,000), and May Unemployment Rate 3.8% (expected 3.9%; last 3.8%). June Claimant Count -20,000 (expected -41,200; last -34,700)


    Johnson & Johnson (JNJ 175.35, +1.12, +0.6%): beats by $0.04, reports revs in-line; lowers outlook
    IBM (IBM 129.58, 8.55, -6.2%): beats by $0.02, beats on revs; reaffirms FY22 revenue guidance; cut free cash flow guidance
    Halliburton (HAL 29.15, +0.30, +1.0%): beats by $0.04, beats on revs
    Hasbro (HAS 74.80, +0.38, +0.5%): beats by $0.21, misses on revs; provides FY22 outlook
    Netflix (NLFX 193.55, +2.63, +1.4%): up ahead of earnings report after today’s close
    Lockheed Martin (LMT 371.79, -15.49, -4.0%): misses by $0.07, misses on revs; lowers outlook, guides FY22 EPS below consensus, revs below consensus


    Buying efforts have been fairly balanced as evidenced by the Russell 3000 Growth Index (+2.2%) trading up by a similar percentage as the Russell 3000 Value Index, which is up 2.1%.

    Advancers lead decliners by a nearly 6-to-1 margin at the NSYE and a 4-to-1 margin at the Nasdaq.


    Semiconductors, a leading indicator, are having a strong showing thus far.

    The PHLX Semiconductor Index is up 2.8% and components Advanced Micro Devices (AMD 83.00, +2.55, +3.1%), TSMC (TSM 85.60, +2.03, +2.4%), and Applied Materials (AMAT 96.60, +3.46, +3.7%) are exhibiting decent gains.


    ^^^^^^ +1s to excellent market insight by “the buck stops here” Truman

    Ohhhh the humanity – Elon Musk may be palest human on planet 😉
    as he was relaxing on boat & probably in relief of not buying TWITTER after all
    Being a super billionaire may have it’s disadvantages in missing out on the great OUTDOORS 🙂


    RALLY TIME on WALL STREET … DOW up +500 …
    THEME OF DAY — “super-hot” inflation/oil prices may have peaked & coming down slowly
    We’re slowly improving from $4.79 to around $4.19 for REG 87 E-10 gas in our area


    Twitter $TWTR shares jumped 5.4% after Twitter v Musk Trial ruling. Now $39.63, up 3.2%,
    Judge sets 5-day trial for October; Twitter had sought 4 days in September
    Musk lawyers argued trial needed to be in February or later


    Dow 31,827.05 754.44 2.43%
    S&P 500 3,936.69 105.84 2.76%
    Nasdaq 11,713.15 353.10 3.11%
    GlobalDow 3,536.44 70.61 2.04%
    Gold 1,710.10 -0.10 -0.01%
    Oil 104.23 1.63 1.59%
    BITCOIN $23,219


    Cathie Wood liquidating ARK Transparency #ETF (BATS: $CTRU)
    Passively tracks Transparency Index.
    Teladoc Health $TDOC
    Acushnet $GOLF
    DocuSign $DOCU $BILL
    Inari Medical $NARi
    Apple $AAPL
    Spotify $SPOT
    Skyworks $SWKS
    Splunk $SPLK


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

    —Equity Markets—

    Japan’s Nikkei: +2.7%
    Hong Kong’s Hang Seng: +1.1%
    China’s Shanghai Composite: +0.8%
    India’s Sensex: +1.2%
    South Korea’s Kospi: +0.7%
    Australia’s ASX All Ordinaries: +1.8%


    The People’s Bank of China made no changes to its one-year and five-year loan prime rates.
    Press reports from China indicate that the mortgage boycott has spread to over 300 construction projects in 91 cities.
    Caixin reported that suppliers to Chinese developers are struggling to pay bills due to money owed from developers.
    Japan Airlines will reassign about 3,000 workers, according to Nikkei.
    Reserve Bank of Australia Governor Lowe said that Australia’s neutral nominal rate is at least 2.5% and could be higher if medium-term inflation expectations increase.
    Australia’s June MI Leading Index -0.2% m/m (last -0.1%)


    Major European indices trade on a lower note.

    —Equity Markets—

    STOXX Europe 600: -0.4%
    Germany’s DAX: -0.9%
    U.K.’s FTSE 100: -0.4%
    France’s CAC 40: -0.5%
    Italy’s FTSE MIB: -1.7%
    Spain’s IBEX 35: -1.4%


    U.K.’s conservative party leadership race will continue today with three candidates left.
    Bank of England Governor Bailey said that a 50-bps rate hike is on the table for the next policy meeting, but it isn’t locked in. Italy’s Prime Minister Draghi is expected to address the Italian Senate, where he is expected to comment on rebuilding the governing coalition.
    Germany’s June PPI was a bit cooler than expected, pressuring the yr/yr rate from a record high.
    Eurozone’s May Current Account deficit EUR4.50 bln (last deficit of EUR5.80 bln)
    Germany’s June PPI 0.6% m/m (expected 1.3%; last 1.6%); 32.7% yr/yr (expected 33.9%; last 33.6%)
    U.K.’s June CPI 0.8% m/m (expected 0.7%; last 0.7%); 9.4% yr/yr (expected 9.3%; last 9.1%). June Core CPI 0.4% m/m (expected 0.5%; last 0.5%); 5.8% yr/yr, as expected (last 5.9%). June Input PPI 1.8% m/m (expected 1.4%; last 2.4%) and Output PPI 1.4% m/m (expected 1.1%; last 1.6%). May House Price Index 12.8% yr/yr (last 12.4%)

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