Traders Market Weekly: CPI and PPI Inflation

Viewing 7 posts - 61 through 67 (of 67 total)
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  • #53198
    Truman
    Participant

    Major European indices trade on a broadly lower note.

    —Equity Markets—

    STOXX Europe 600: -1.2% (-0.9% week-to-date)
    Germany’s DAX: -1.3% (-1.0% week-to-date)
    U.K.’s FTSE 100: -0.6% (-0.5% week-to-date)
    France’s CAC 40: -1.1% (-1.8% week-to-date)
    Italy’s FTSE MIB: -1.0% (+1.1% week-to-date)
    Spain’s IBEX 35: -1.4% (-1.2% week-to-date)

    #53199
    Truman
    Participant

    British Chancellor of the Exchequer Hunt repeated that inflation is expected to halve by the end of the year. Meanwhile, European Central Bank policymaker Nagel repeated that core inflation is a decisive factor in setting monetary policy and that stopping rate hikes too soon would be a “cardinal sin.”
    Adidas is down more than 10.0% in Germany after warning that its revenue for the year could be reduced by more than a billion euros if the company fails to sell inventory from the Yeezy brand.
    U.K.’s Q4 GDP 0.0% qtr/qtr, as expected (last -0.2%); 0.4% yr/yr, as expected (last 1.9%). Q4 Business Investment 4.8% qtr/qtr (expected -0.3%; last -3.2%); 13.2% yr/yr (last 5.1%). December Industrial Production 0.3% m/m (expected -0.2%; last 0.1%); -4.0% yr/yr (expected -5.3%; last -4.3%). December trade deficit GBP19.27 bln (expected deficit of GBP16.40 bln; last deficit of GBP14.66 bln)
    Italy’s December Industrial Production 1.6% m/m (expected -0.1%; last -0.1%); 0.1% yr/yr (last -3.4%)

    #53200
    Truman
    Participant

    Lyft (LYFT 11.05, -5.17, -31.9%): misses by $0.89, beats on revs, Active Riders up 8.7%; guides Q1 revs below consensus, says guidance reflects seasonality and lower prices, and “different insurance renewal timing”
    PayPal (PYPL 78.87, +0.45, +0.6%): beats by $0.04, reports revs in-line; guides Q1 EPS above consensus, revs in-line; guides FY23 EPS above consensus; announces that President and CEO Dan Schulman has informed the Board of Directors of his intention to retire from PayPal on December 31, 2023, and that he will work with the Board on a smooth leadership transition
    Expedia Group (EXPE 114.70, -3.01, -2.6%): misses by $0.44, misses on revs
    Cloudflare (NET 62.50, +4.33, +7.4%): beats by $0.01, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY23 EPS in-line, revs in-line
    Mohawk (MHK 118.90, -2.57, -2.1%): beats by $0.03, misses on revs
    Dexcom (DXCM 111.14, +3.90, +3.6%): beats by $0.06, reports revs in-line; guides FY23 revs in-line
    Affirm (AFRM 12.76, -0.53, -4.0%): downgraded to Equal-Weight from Overweight at Morgan Stanley
    Doximity (DOCS 34.80, -1.61, -4.4%): beats by $0.05, beats on revs; guides Q4 revs below consensus, provides preliminary guidance for FY24

    #53201
    Truman
    Participant

    The S&P 500 futures are down 18 points and are trading 0.5% below fair value.
    The Nasdaq 100 futures are down 93 points and are trading 0.8% below fair value.
    The Dow Jones Industrial Average futures are down 106 points and are trading 0.3% below fair value.

    2-yr Treasury note yield is down two basis points to 4.51%
    10-yr note yield is up two basis points to 3.70%. The U.S. Dollar Index is up 0.2% to 103.42.

    #53202
    Truman
    Participant

    Oil prices rose sharply overnight ($79.71/bbl, +1.65, +2.1%) following reports that Russia is aiming to lower its March oil output by 500,000 barrels, according to Bloomberg, in response to sanctions.

    WTI crude oil futures, which reached $80.33/bbl earlier, trade at $78.84/bbl now.

    Natural gas futures are up 1.3% to $2.46/mmbtu.

    #53239

    Dow 33,869.27 169.39 0.50%
    S&P 500 4,090.46 8.96 0.22%
    Nasdaq 11,718.12 -71.46 -0.61%
    VIX 20.57 -0.14 -0.68%
    Gold 1,874.90 -3.60 -0.19%
    Oil 79.84 1.78 2.28

    #52909

    February 11-18, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week
    [See the full post at: Traders Market Weekly: CPI and PPI Inflation]

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