Traders Market Weekly: Bonds, Bank Earnings and CPI Ahead

Viewing 15 posts - 31 through 45 (of 72 total)
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  • #66203

    PPPPPLLLLLLUUUUUUNNNNNGGGGGGEEEEEE … Equities down about 1.5%
    Job openings jump to 9.6 million. Labor market is cooling off, but slowly
    30-year Treasury yield jumps to 16-year high of almost 4.9%
    Speaker of House may be vacated which may be more risk/uncertainty in next SHUTDOWN 40 days ahead.

    Dow 33,012.95 -420.40 -1.26%
    S&P 500 4,226.11 -62.28 -1.45%
    Nasdaq 13,074.29 -233.48 -1.75%

    #66204

    Dow 33,002.38 -430.97 -1.29%
    S&P 500 4,229.45 -58.94 -1.37%
    Nasdaq 13,059.47 -248.31 -1.87%
    VIX 19.78 2.17 12.32%
    Gold 1,840.00 -7.20 -0.39%
    Oil 89.52 0.70 0.79%

    #66205

    As anticipated, Kevin McCarthy was removed as speaker of the house by vote of 216-210
    This has never happened before in history of USA & given current divisions, may not be easily resolved
    This puts next year’s BUDGET & all other work in limbo until a new one is elected
    I’m not sure if markets will like this uncertainty/risk ahead

    https://www.cnbc.com/2023/10/03/house-speaker-kevin-mccarthy-will-bring-gaetz-motion-to-oust-him-vote.html

    #66212

    Dow 33,129.55 127.17 0.39%
    S&P 500 4,263.75 34.30 0.81%
    Nasdaq 13,236.01 176.54 1.35%
    VIX 18.57 -1.21 -6.12%
    Gold 1,837.20 -4.30 -0.23%
    Oil 84.70 -4.53 -5.08%

    #66226
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Thursday’s trade mostly higher.

    Japan’s Nikkei: +1.7%,
    Hong Kong’s Hang Seng: +0.2%,
    China’s Shanghai Composite: CLOSED,
    India’s Sensex: +0.6%,
    South Korea’s Kospi: -0.1%,
    Australia’s ASX All Ordinaries: +0.5%.

    Japan’s Nikkei ended a five-day losing streak, bolstered by Wall Street’s rebound-minded angle and led by its automaker components.
    A 30-yr bond auction in Japan, however, did not go as well. It was met with lower demand, which sent yields close to levels last seen in 2013.

    #66227
    Truman
    Participant

    South Korea’s September CPI 0.6% m/m (expected 0.3%; last 1.0%) and 3.7% yr/yr (expected 3.4%; last 3.4%)

    South Korea reported higher than expected inflation for September.
    South Korean chip giant Samsung is planning to boost NAND chip prices by at least 10% in Q4, according to DigiTimes.

    #66228
    Truman
    Participant

    Australia’s August Imports -0.4% m/m (last 3.4%) and Exports 4.0% m/m (last -1.8%)

    #66229
    Truman
    Participant

    Hong Kong’s September S&P Global Manufacturing PMI 49.6 (last 49.8)
    Hong Kong saw its third straight contraction in its manufacturing PMI.
    Singapore’s August Retail Sales 1.7% m/m (last 0.8%) and 4.0% yr/yr (last 1.3%)

    India’s September S&P Global Services PMI 61.0 (expected 59.5; last 60.1)

    Meanwhile, South Korea reported higher than expected inflation for September.
    On a somewhat related note, South Korean chip giant Samsung is planning to boost NAND chip prices by at least 10% in Q4, according to DigiTimes.

    #66230
    Truman
    Participant

    Major European indices are trading flat to modestly higher, battling to overcome lingering concerns about rising interest rates that were exacerbated earlier this week when the German bund yield hit its highest level since 2011.

    STOXX Europe 600: +0.4%,
    Germany’s DAX: +0.1%,
    U.K.’s FTSE 100: +0.5%,
    France’s CAC 40: +0.1%,
    Italy’s FTSE MIB: +0.2%,
    Spain’s IBEX 35: +0.4%.

    #66231
    Truman
    Participant

    Eurozone’s September HCOB Construction PMI 43.6 (last 43.4)

    Germany reported a decline in both its exports and imports for August.
    Germany’s August Exports -1.2% m/m (expected -0.4%; last -1.9%) and Imports -0.4% m/m (expected 0.5%; last -1.3%);
    September HCOB Construction PMI 39.3 (last 41.5)

    France’s August Industrial Production -0.3% m/m (expected -0.4%; last 0.5%); September HCOB Construction PMI 43.7 (last 42.4)

    Spain’s August Industrial Production -3.4% yr/yr (expected -2.1%; last -2.2%); Consumer Confidence 77.2 (last 94.4)

    Italy’s September HCOB Construction PMI 49.8 (last 47.7)

    On a better policy rate note, ECB member Kazimir thinks the ECB is done raising rates, according to Bloomberg.

    #66232
    Truman
    Participant

    Asian inflation readings were hotter than expected

    South Korea (0.6% m/m, 0.4% consensus),
    Philippines (1.1% m/m, 0.4% consensus)
    Taiwan (2.9% y/y, 2.5% consensus)
    But not Thailand (-0.4% m/m, -0.2% consensus).

    On balance, this round of September prints across key markets for many consumer items including electronic components indicates that inflation risk remains very much alive.

    #66233
    Truman
    Participant

    Rivian Automotive (RIVN 21.57, -2.12, -9.0%): proposes $1.5 bln aggregate principal amount of green convertible senior notes due 2030

    Ford (F 11.92, -0.07, -0.6%): to eliminate 400 jobs in Michigan, according to the Detroit Free Press

    General Motors (GM 31.00, -0.04, -0.1%), Stellantis (STLA 18.78, +0.03, +0.2%), and Ford: UAW and automakers making progress, according to Reuters

    #66234
    Truman
    Participant

    Clorox (CLX 126.32, -5.51, -4.2%): guides Q1 EPS and revs below consensus after assessing financial impact of previously announced cybersecurity attack

    #66235
    Truman
    Participant

    AT&T (T 14.62, -0.03, -0.2%): mulling options for DirectTV stake, according to Bloomberg

    #66236
    Truman
    Participant

    Exxon Mobil (XOM 110.31, -1.19, -1.1%): details items that will impact Q3 results; changes in gas prices positively impacting Q3 upstream earnings by $0.2-0.6 bln

Viewing 15 posts - 31 through 45 (of 72 total)
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