Traders Market Weekly: Another Year, Another Reset

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    Hope everyone had a great Christmas & all the other good holidays of season
    Stock futures are “+” for last week of 2022 in attempt to re-ignite the Santa rally
    Wishing all a great week of investing & “trade ’em if ya got ’em” 🙂


    All quiet on the Western front – Hope everyone had a wonderful Christmas

    Embrace the Chaos …


    Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while markets in Australia, Hong Kong, and New Zealand remained closed for Christmas.

    —Equity Markets—

    Japan’s Nikkei: +0.2%
    Hong Kong’s Hang Seng: CLOSED
    China’s Shanghai Composite: +1.0%
    India’s Sensex: +0.6%
    South Korea’s Kospi: +0.7%
    Australia’s ASX All Ordinaries: -0.7%


    China will lift all coronavirus-related restrictions on incoming international travelers on January 8. Japan, however, will begin requiring negative coronavirus test for visitors from China before the end of the year.
    China revised its 2021 growth to 8.4% from 8.1%.
    China’s November Industrial Profit -3.6% YTD (last -3.0%)
    Japan’s November Housing Starts -1.4% yr/yr (expected 1.5%; last -1.8%) and Construction Orders -9.7% yr/yr (last 7.9%). November BoJ Core CPI 2.9% yr/yr (expected 2.8%; last 2.7%). November Retail Sales 2.6% yr/yr (expected 3.7%; last 4.4%), November jobs/applications ratio 1.35 (expected 1.36; last 1.35), and November Unemployment Rate 2.5%, as expected (last 2.6%)
    South Korea’s December Consumer Confidence 89.9 (last 86.5)


    Major European indices trade in the green while the U.K.’s FTSE is closed.

    —Equity Markets—

    STOXX Europe 600: +0.4%
    Germany’s DAX: +0.6%
    U.K.’s FTSE 100: CLOSED
    France’s CAC 40: +0.9%
    Italy’s FTSE MIB: +0.2%
    Spain’s IBEX 35: +0.3%


    European Central Bank policymaker Knot said that the tightening cycle has only passed its halfway point.
    The Association of German Chambers of Industry and Commerce noted that supply chain disruptions have eased a bit and that freight rates have returned toward normal levels.
    There was no notable data


    More negative news for #Tesla, suspended Shanghai plant production, according to Reuters

    Production 17 days in January Jan. 3 to Jan. 19 stop #electricvehicle output Jan. 20 to Jan. 31 for ChineseNewYear

    $TSLA 116.87 -6.28 (-5.10%) Pre-Market Update


    Chinese EV maker NIO sharply lower after adjusts fourth quarter 2022 delivery outlook

    Now expects to deliver 38,500 to 39,500 vehicles in Q4 2022, adjusted from previously released 43,000 to 48,000 vehicles
    $NIO 10.19 -0.78, -7.1%


    Airlines Southwest $LUV 34.67, -1.42, -3.9% after canceled more than 66% of flights yesterday and expects more cancellations due to winter storm, according to WSJ


    Energy complex futures are inching higher this morning.

    WTI crude oil futures are up 0.7% to $80.15/bbl and natural gas futures are up 2.7% to $5.22/mmbtu.


    Equity futures indicate a higher open after sizable losses recently. The upside bias is partially due to a general seasonal bias during this Santa Claus rally period (last five trading days of the year plus the first two trading sessions of the new year).

    S&P 500 futures are up 17 points and are trading 0.5% above fair value.
    Nasdaq 100 futures are up 22 points and are trading 0.2% above fair value.
    Dow Jones Industrial Average futures are up 183 points and are trading 0.5% above fair value.


    A report from Mastercard SpendingPulse showed that U.S. retail sales grew 7.6% this holiday season.


    Advanced report for international trade in goods showed an $83.35 billion deficit in November versus a prior revised $98.8 billion deficit in October (-$99.0 billion).

    The advanced report for retail inventories reflected a 0.1% build in November following a revised 0.4% decline in October (from -0.2%). The advanced report for wholesale inventories showed a 1.0% build in November after a revised 0.6% build in October (from +0.8%).


    U.S. Treasuries are on track for a mixed open with 10s and 30s expected to show slight relative strength in the early going while shorter tenors are on course to begin just below their flat lines.

    Treasury futures began dipping last evening, continuing their slow retreat into the night. The market reached lows about an hour ago, and currently trades just above those levels. Overnight action was headlined by news that China will lift all coronavirus-related restrictions on incoming international travelers on January 8 while Japan will begin requiring negative coronavirus test for visitors from China before the end of the year.

    The U.S. session will feature a $42 bln 2-yr Treasury note auction that will precede sales of 5- and 7-yr notes over the next couple days.

    2-yr: +3 bps to 4.34%
    3-yr: +1 bp to 4.10%
    5-yr: +1 bp to 3.87%
    10-yr: -1 bp to 3.74%
    30-yr: -2 bps to 3.81%


    DEC 26th — what is BOXING DAY (celebrated in Canada)?

    Boxing Day History and Significance — The servants of wealthy aristocrat families spent their Christmas working for their employers. As part of the holiday bonus, the rich showered them with boxes filled with gifts, money, and food leftovers on the next day after Christmas Day. Great Britain and many former British colonies celebrate Boxing Day.

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