Traders Market Weekly: The Fed, Weed and Guns

Viewing 15 posts - 31 through 45 (of 51 total)
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  • #40535
    Truman
    Participant

    WTI crude oil futures are back below $100.00/bbl this morning, down 2.1% to $98.69/bbl.
    Unleaded gasoline futures are down 1.2% to $3.26/gal.
    Natural gas futures are up 2.0% to $7.30/mmbtu.

    #40536
    Truman
    Participant

    Treasury yield are falling this morning with the 2-yr note yield down six basis points to 3.17%.
    The 10-yr note yield is down six bassi points to 2.96%.

    #40537
    Truman
    Participant

    Netflix (NFLX 214.00, +13.37, +6.1%): beats by $0.25, reports revs in-line; guides Q3 EPS below consensus, revs below consensus; global streaming paid net adds -0.97 mln vs -2.00 mln prior guidance; guides to Q3 at +1.00 mln
    Nasdaq (NDAQ 161.00, +1.68, +1.1%): beats by $0.15, beats on revs; announces 3-for-1 stock split and quarterly dividend of $0.20/share
    Baker Hughes (BKR 27.00, -1.22, -4.3%): misses by $0.11, misses on revs
    ASML (ASML 493.35, -5.01, -1.0%): beats by €0.01, beats on revs; guides Q3 revs below consensus; guides FY22 revs below consensus
    Biogen (BIIB 219.74, -0.52, -0.2%): beats by $1.16, beats on revs; raises FY22 guidance
    Merck (MRK 91.53, -0.83, -0.9%): reports Phase 3 KEYNOTE-412 Trial did not meet its primary endpoint

    #40538
    Truman
    Participant

    The S&P 500 futures are down 4 points and are trading 0.3% below fair value.
    The Nasdaq 100 futures are down 8 points and are trading 0.3% below fair value.
    The Dow Jones Industrial Average futures are down 28 points and are trading 0.03% below fair value.

    #40539
    Truman
    Participant

    U.S. Treasuries are on track for a higher start after two days of losses.

    Treasury futures spent the early portion of the night in a sideways range with a slight upward bias. The quiet start gave way to a rally to fresh highs at the start of the European session. The market pushed to fresh highs about an hour ago, remaining near the best levels of the night at this time.

    The U.S. Treasury will hold a $14 bln 20-yr bond reopening this afternoon. The U.S. Dollar Index is up 0.3% at 106.99, rebounding from three days of losses.

    Yield Check:
    2-yr: -5 bps to 3.17%
    3-yr: -5 bps to 3.17%
    5-yr: -5 bps to 3.10%
    10-yr: -5 bps to 2.97%
    30-yr: -4 bps to 3.14%

    #40560

    Dow 31,874.84 47.79 0.15%
    S&P 500 3,959.90 23.21 0.59%
    Nasdaq 11,897.65 184.50 1.58%
    GlobalDow 3,539.92 0.16 0.00%
    Gold 1,694.50 -16.20 -0.95%
    Oil 102.61 -1.61 -1.54%

    #40600
    Truman
    Participant

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

    —Equity Markets—

    Japan’s Nikkei: +0.4%
    Hong Kong’s Hang Seng: -1.5%
    China’s Shanghai Composite: -1.0%
    India’s Sensex: +0.5%
    South Korea’s Kospi: +0.9%
    Australia’s ASX All Ordinaries: +0.6%

    #40601
    Truman
    Participant

    Japan’s Prime Minister Kishida will reportedly reshuffle his cabinet in early September.
    South Korea’s POSCO Holdings will reportedly lower stainless steel prices in August due to a lower cost of nickel. South Korea’s exports through the first 20 days of July were up 14.5% yr/yr with chip exports increasing 13.2%.
    Local governments in China are expected to help developers resume projects that have been delayed.
    The Bank of Japan made no changes to its policy stance. The central bank lowered its forecast for Japan’s 2022 GDP growth to 2.4% from 2.9% while the inflation forecast was raised to 1.3% from 0.9%.
    Japan’s June trade deficit JPY1.38 trln (expected deficit of JPY1.51 trln; last deficit of JPY2.39 trln). June Imports 46.1% yr/yr (expected 45.7%; last 48.9%) and Exports 19.4% yr/yr (expected 17.5%; last 15.8%)
    Hong Kong’s June CPI 1.8% yr/yr (expected 1.6%; last 1.2%)
    Australia’s NAB Quarterly Business Confidence 5 (last 15). June HIA New Home Sales 1.9% m/m (last -1.2%)
    New Zealand’s June trade deficit NZD701 mln (last surplus of NZD195 mln)

    #40602
    Truman
    Participant

    Major European indices trade in mixed fashion with Italy’s MIB (-0.3%) showing relative weakness after Prime Minister Draghi resigned, setting the stage for an early election.

    —Equity Markets—

    STOXX Europe 600: -0.1%
    Germany’s DAX: -0.1%
    U.K.’s FTSE 100: -0.1%
    France’s CAC 40: +0.6%
    Italy’s FTSE MIB: -0.3%
    Spain’s IBEX 35: +0.8%

    #40603
    Truman
    Participant

    The European Central Bank is expected to announce a 25-bps rate hike at 8:15 ET, followed by President Lagarde’s press conference at 8:45 ET.
    Gas flow through the Nord Stream pipeline has resumed but at a slower rate.
    The U.K.’s conservative party leadership race is down to Rishi Sunak and Liz Truss.
    U.K.’s June Public Sector Net Borrowing GBP22.12 bln (expected GBP13.20 bln; last GBP11.80 bln)
    France’s July Business Survey 106, as expected (last 108)

    #40604
    Truman
    Participant

    Tesla (TSLA 761.87, +19.37, +2.6%): beats by $0.46, reports revs in-line, reaffirms expectation to achieve 50% average annual growth in vehicle deliveries over multi-year horizon
    United Airlines (UAL 38.59, -3.09, -7.4%): misses by $0.45, reports revs in-line; continues to expect to be profitable for FY22; provides quarterly, FY22, and FY23 outlook: expects no more than ~8% capacity in FY23 compared to 2019
    Microsoft (MSFT 260.13, -2.14, -0.8%): eliminating several open job listings, according to Bloomberg
    Travelers (TRV 157.00, -1.20, -0.8%): beats by $0.60, beats on revs
    CSX (CSX 30.96, +1.23, +4.1%): beats by $0.03, beats on revs
    SAP SE (SAP 87.90, -4.43, -4.8%): misses by €0.12, beats on revs; updates guidance; announces further share repurchase program
    Carnival Corp (CCL 9.80, -1.29, -11.6%): prices offering of 102,139,621 shares of common stock at $9.95 per share

    #40605
    Truman
    Participant

    Some of the biggest premarket movers are cruise lines stocks, down in solidarity with Carnival Corp (CCL 9.75, -1.34, -12.1%) following the company’s $1.0 billion stock offering at $9.95 per share. Norwegian Cruise Line (NCLH 12.72, -0.76, -5.7%) and Royal Caribbean (RCL36.46, -2.50, -6.4% ) are both losing ground ahead of the open.

    #40613

    and extending prayers for POTUS #46 – tested “+” for COVID (mild symptoms)
    even though I may disagree with politically, he is our commander & chief & hope for good recovery ahead 🙂

    https://www.cnbc.com/2022/07/21/president-biden-tests-positive-for-covid-19.html

    #40617

    RIP to founder of this awesome “soul” group of 1970s
    groups today don’t make music like they used to & our parents said the same thing – lol 🙂

    #40618

    Dow 32,036.90 162.06 0.51%
    S&P 500 3,998.95 39.05 0.99%
    Nasdaq 12,059.61 161.96 1.36%
    GlobalDow 3,543.96 0.50 0.01%
    Gold 1,718.40 18.20 1.07%
    Oil 96.45 -3.43 -3.43%

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