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January 23 – 29 2022 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Image: Th
[See the full post at: Traders Market Weekly: Fear, Fed and Volatility]Bearish start to the week:
S&P 500 futures 0.5% below fair value; Nasdaq 100 futures 1.1% below fair value; DJIA futures 0.1% below fair value
Negative disposition attributed to following influences:
Geopolitical angst as tension between Russia and the West over Ukraine intensifies
European bourses seeing sharp losses
Festering worries about hawkish signaling from Fed (FOMC meeting Jan. 25-26)
Continuance of disappointing price action (still no shift from selling into strength)
KSS up 32% on reports of takeover interest
UL pops 7% on reports Nelson Peltz is building a stake in company
Vaccine makers take a hit on reports discussing improvement in Omicron case trends
PTON down 2.7% with activist investor suggesting company fire CEO and look at possible sale
Cryptocurrencies seeing sizable losses as speculative energy fizzles
WTI crude futures down 0.3% to $84.91/bbl; gold futures +0.3% to $1837.00/troy oz.
Notable research calls:
Upgrades: AFRM, ANET, CHTR, CMCSA, FOXA, DFS, SPLK, MTB, and UBS
Downgrades: SNAP, NFLX, and PPG
10-yr note yield -1 bp to 1.74%, supported by some safe-haven flowsThe global equity markets are mostly lower to start the week. Sentiment tuned sour with geopolitical tensions surrounding the Ukraine mounting. S&P Futures are down about 19 points to trade around the 4371 area. The market saw an early rebound with the S&P trading as high as 4427.50 during the Asian session. The gains were not sustained after Europe got underway. Spoos saw a swift swoon and are now trading just off the low of 4361.25.
Japan’s Nikkei: +0.2%
Hong Kong’s Hang Seng: -1.2%
China’s Shanghai Composite: UNCH
India’s Sensex: -2.6%
South Korea’s Kospi: -1.5%
Australia’s ASX All Ordinaries: -0.7%Eurozone’s January flash Manufacturing PMI 59.0 (expected 57.5; last 58.0) and flash Services PMI 51.2 (expected 52.2; last 53.1)
Germany’s January flash Manufacturing PMI 60.5 (expected 57.0; last 57.4) and flash Services PMI 52.2 (expected 48.8; last 48.7)
U.K.’s January flash Manufacturing PMI 56.9 (expected 57.7; last 57.9) and flash Services PMI 53.3 (expected 53.9; last 53.6)
France’s January flash Manufacturing PMI 55.5, as expected (last 55.6) and flash Services PMI 53.1 (expected 55.3; last 57.0)European Central Bank policymaker Rehn said that drivers of inflation will subside over the course of the year, returning toward the 2.0% target over the next two years.
British Deputy Prime Minister Raab said that Russia would face severe economic consequences if it tries to force out Ukraine’s current government.
Former Italian Prime Minister Berlusconi removed his name from consideration for president.Japan’s January flash Manufacturing PMI 54.6 (expected 55.0; last 54.3) and flash Services PMI 46.6 (last 52.1)
Australia’s January flash Manufacturing PMI 55.3 (last 57.7) and flash Services PMI 45.0 (last 55.1)Japan’s Manufacturing PMI reached its highest level since the start of 2018 in the flash reading for January while Australia’s flash Manufacturing PMI fell to its lowest level since August.
Kohl’s (KSS 59.10, +12.26): +26.2% after The Wall Street Journal reported that a Starboard Value consortium is aiming to bid $64/share for the company.
Halliburton (HAL 27.73, +0.19): +0.7% after beating top and bottom-line estimates.
Snap (SNAP 30.51, -1.61): -5.0% after the stock was downgraded to Neutral from Outperform at Wedbush.
Peloton (PTON 26.48, -0.58): -2.5% amid news that Blackwells Capital sent a letter to the company’s board of directors, calling for new leadership and proposing the company sell itself to a strategic acquirer.STOXX Europe 600: -2.6%
Germany’s DAX: -2.6%
U.K.’s FTSE 100: -1.6%
France’s CAC 40: -2.6%
Italy’s FTSE MIB: -2.8%
Spain’s IBEX 35: -2.2%LOL – 1,000 point turnaround in final 2 hours for GREEN finish
you can’t make this stuff up – lol … hopefully day + crypto traders wont be fooled again 😉 🙂Dow 34,364.50 99.13 0.29%
S&P 500 4,410.13 12.19 0.28%
Nasdaq 13,855.13 86.21 0.63%
GlobalDow 4,095.17 -51.30 -1.24%
Gold 1,843.40 11.60 0.63%
Oil 84.08 -1.06 -1.25%and some of those of “K” or “WALL” street would be lucky to even make the cover of the “Rolling Stone” – lol 🙂
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