Traders Market Weekly: Political Risks and Central Banks

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    Dow 30,185.82 550.99 1.86%
    S&P 500 3,677.95 94.88 2.65%
    Nasdaq 10,675.80 354.41 3.43%
    VIX 31.11 -0.91 -2.84%
    Gold 1,653.20 4.30 0.26%
    Oil 85.38 -0.23 -0.27%


    Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note.

    —Equity Markets—

    Japan’s Nikkei: +1.4%
    Hong Kong’s Hang Seng: +1.8%
    China’s Shanghai Composite: -0.1%
    India’s Sensex: +0.9%
    South Korea’s Kospi: +1.4%
    Australia’s ASX All Ordinaries: +1.8%


    Chinese authorities have not announced a new release date for Q3 growth figures yet. Japan’s Ministry of Economy, Trade, and Industry pledged to support exports, domestic investment, and a restart of nuclear power plants.
    There is growing speculation that the Bank of Japan will increase its CPI forecast for FY22/23 from the current 2.3%.
    The Minutes from the Reserve Bank of Australia’s October meeting showed that arguments for 25- and 50-bps rate hikes are balanced and that the impact of past hikes has yet to be seen.
    South Korea’s August M2 Money Supply 6.8% yr/yr (last 7.1%)
    New Zealand’s Q3 CPI 2.2% qtr/qtr (expected 1.6%; last 1.7%); 7.2% yr/yr (expected 6.6%; last 7.3%)


    Major European indices trade in the green.

    —Equity Markets—

    STOXX Europe 600: +1.3%
    Germany’s DAX: +2.2%
    U.K.’s FTSE 100: +1.4%
    France’s CAC 40: +1.6%
    Italy’s FTSE MIB: +2.4%
    Spain’s IBEX 35: +1.8%


    The Bank of England refuted an FT report about a plan to delay quantitative tightening until the Gilt market calms.
    Bank of France Governor Villeroy de Galhau said that the European Central Bank should slow its hiking pace once the deposit rate reaches 2.00%.
    Germany’s ZEW Current Situation survey decreased for the eighth consecutive month, reaching an all-time low.
    The European Commission will reportedly release the details of its gas price cap plan later today.
    Eurozone’s October ZEW Economic Sentiment -59.7 (expected -61.2; last -60.7)
    Germany’s October ZEW Economic Sentiment -59.2 (expected -65.7; last -61.9) and ZEW Current Conditions -72.2 (expected -68.0; last -60.5)
    Italy’s August trade deficit EUR9.569 bln (expected deficit of EUR500 mln; last deficit of EUR460 mln)
    Spain’s August trade deficit EUR7.94 bln (last deficit of EUR6.56 bln)


    The S&P 500 futures are up 83 points and are trading 2.2% above fair value.
    The Nasdaq 100 futures are up 280 points and are trading 2.6% above fair value.
    The Dow Jones Industrial Average futures are up 635 points and are trading 2.1% above fair value.


    Dow components Johnson & Johnson (JNJ 169.00, +2.41, +1.45%) and Goldman Sachs (GS 316.70, +9.99, +3.26%) trade higher thanks to better-than-expected quarterly results.

    Energy complex futures are mixed this morning.

    WTI crude oil futures are up 0.1% to $84.55/bbl and natural gas futures are down 0.5% to $5.97/mmbtu.


    Total industrial production increased 0.4% month-over-month in September (consensus 0.1%) following an upwardly revised 0.1% decline (from -0.2%) in August.

    The capacity utilization rate increased to 80.3% (consensus 79.9%) from an upwardly revised 80.1% (from 80.0%) in August.

    The key takeaway from the report is that the output of consumer goods decreased 0.6% at an annual rate in the third quarter, much slower than the rate of change of 3.1% in the second quarter.


    October NAHB Housing Market Index came in at 38 ( consensus 44) after a prior reading of 46.


    Dow 30733.74 +545.89 (1.81%)
    Nasdaq 10879.86 +204.21 (1.91%)
    SP 500 3745.30 +67.28 (1.83%)
    10-yr Note +2/32 3.99
    NYSE Adv 2419 Dec 574 Vol 243 mln
    Nasdaq Adv 3220 Dec 1042 Vol 1.6 bln

    Moving the Market

    — Carryover momentum from yesterday’s rally

    — Better-than-expected earnings from Goldman Sachs and Johnson & Johnson

    — BofA fund manager survey showed cash holdings at their highest level since April 2001

    — 10-yr Treasury note yield back below 4.00%–


    The great RALLY today is slowly doing a “dying quail” move as the “kat bounce” can only go so high
    Still hope for best for our nation in days ahead … and would be neat for some younger folks to lead in USA as well
    GAS/OIL prices in 80’s is a good thing to help eventually moderate INFLATION
    Everyone wants to SOAR LIKE AN EAGLE (lol) & one must be patient & CAUTIOUS in the marketplace today


    Our high in SW VIRGINIA mtns was 41F & major FREEZE will end gardening season
    one of FAV songs of high school years shares dangers of cold weather 😉


    Dow 30,523.80 337.98 1.12%
    S&P 500 3,719.98 42.03 1.14%
    Nasdaq 10,772.40 96.60 0.90%
    VIX 30.85 -0.52 -1.66%
    Gold 1,656.50 -7.50 -0.45%
    Oil 83.22 -2.24 -2.62%



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

    —Equity Markets—

    Japan’s Nikkei: +0.4%
    Hong Kong’s Hang Seng: -2.4%
    China’s Shanghai Composite: -1.2%
    India’s Sensex: +0.3%
    South Korea’s Kospi: -0.6%
    Australia’s ASX All Ordinaries: +0.3%

Viewing 15 posts - 16 through 30 (of 62 total)
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