Traders Market Weekly: Global Market Dislocation at a Precipice

Viewing 15 posts - 46 through 60 (of 65 total)
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    Equity futures gave back some gains ahead of the open.

    The S&P 500 futures are up 2 points and are trading roughly in-line with fair value.
    The Nasdaq 100 futures are down 9 points and are trading roughly in-line with fair value.
    The Dow Jones Industrial Average futures are up 95 points and are trading 0.3% above fair value.

    The 10-yr note yield is moving higher ahead of the open, at 3.55% earlier, it now sits at 3.59%.
    The 2-yr note yield is up nine basis points to 4.07%.


    For the week ending September 17, initial claims increased by 5,000 to 213,000 (consensus 220,000). For the week ending September 10, continuing jobless claims decreased by 22,000 to 1.379 million.

    The key takeaway from the report is that the low level of initial claims — a leading indicator — will register with the Fed as a basis to maintain an aggressive line with its rate hikes since it sees a softening in the labor market as a necessary ingredient for helping to bring inflation back down to its 2.0% target.


    Eli Lilly (LLY 301.10 +4.62 (+1.56%): UBS upgraded to Buy from Hold; receives FDA approval for Retevmo
    Block (SQ 58.29 -1.16 (-1.95%): downgraded to Neutral from Buy at Mizuho
    NIKE (NKE 100.19 +0.40 (+0.40%): initiated with an Outperform at RBC Capital Mkts
    Target (TGT 158.55 -0.48 (-0.30%): will introduce holiday savings earlier than ever, starting with the “biggest Target Deal Days event yet” – expects to hire up to 100,000 seasonal team members
    Accenture (ACN 264.00 -1.42 (-0.54%): beats by $0.03, reports revs in-line; guides FY23 EPS below consensus; raises dividend; approves $3.0 bln of additional share repurchase authority
    Darden Restaurants (DRI 128.00 -3.28 (-2.50%): reports EPS in-line, revs in-line; reaffirms FY23 EPS guidance, revs guidance; Q1 comps +4.2%
    FactSet (FDS 425.00 -5.45 (-1.27%): misses by $0.08, beats on revs; guides FY23 EPS in-line, revs above consensus
    Salesforce (CRM 150.99 +3.36 (+2.28%): targets $50 bln in revs by FY26, a 17% CAGR; expects $31 bln in revs for FY23
    Lennar (LEN 75.00 -0.92 (-1.21%): beats by $0.32, misses on revs, deliveries increased 13%; Sees Q4 new orders of 14-15K and deliveries of 20-21K
    KB Home (KBH 27.40 -0.62 (-2.21%): beats by $0.19, misses on revs, homes delivered increased 6% yr/yr; expects housing revs of $1.95-2.05 bln in Q4


    OOOHHHHH the humanity as DOW struggles@ 30,000 feet & the NAZ tries to stay above 11,000
    29,994 is low for DOW today (as the “29” cap came on for 1st time since recent lows)
    COMMENTS were interpreted as HAWKISH by Jerome & company — plus FED can only do so much
    plus impacted folks highly in debt & struggling already with inflation


    If only WALL STREET, media, FOMC, and GOVT itself were more “MIDDLE OF THE ROAD” & less divided
    Ohhh well, this great tune does kick it up a notch as least music-wise
    😉 🙂


    The “H” storm is definitely on WATCHLIST … if it goes into warm GULF, it could be in CAT 3-4 range
    according to early modeling … Latest wave off Africa also being watched also
    as we’re nearing PEAK season in TROPICs


    Dow 30,076.68 -107.10 -0.35%
    S&P 500 3,757.99 -31.94 -0.84%
    Nasdaq 11,066.81 -153.39 -1.37%
    GlobalDow 3,353.98 -26.46 -0.78%
    Gold 1,680.20 4.50 0.27%
    Oil 83.61 0.67 0.81%


    ohhhhh the humanity … and hopefully equity/housing and other “balloons” will hold together
    the earliest works by many artists are their best as in ALBUM #1 from 1969 🙂


    Love all the Lez Zep songs added to the playlist CI!!!


    Ahead: 4 Ukraine regions #Luhansk #Donetsk #Kherson #Zaporizhzhia prepare to hold referendums on joining Russia
    Areas represent ~15% of Ukraine territory
    Votes seen as paving way for Russian escalation
    Referendums face widespread international criticism


    HERMINE continues to form & should be officially named later today


    Equity indices in the Asia-Pacific region ended the week on a lower note while Japan’s market was closed for a holiday.

    —Equity Markets—

    Japan’s Nikkei: CLOSED (-1.5% for the week)
    Hong Kong’s Hang Seng: -1.2% (-4.4% for the week)
    China’s Shanghai Composite: -0.7% (-1.2% for the week)
    India’s Sensex: -1.7% (-1.3% for the week)
    South Korea’s Kospi: -1.8% (-3.9% for the week)
    Australia’s ASX All Ordinaries: -1.9% (-2.7% for the week)


    Major European indices trade on a sharply lower note.

    —Equity Markets—

    STOXX Europe 600: -2.1% (-4.1% week-to-date)
    Germany’s DAX: -2.2% (-3.9% week-to-date)
    U.K.’s FTSE 100: -2.0% (-3.1% week-to-date)
    France’s CAC 40: -2.1% (-4.6% week-to-date)
    Italy’s FTSE MIB: -2.9% (-4.2% week-to-date)
    Spain’s IBEX 35: -2.3% (-4.9% week-to-date)


    There was some speculation that countries other than Japan could intervene in the currency market to slow the dollar’s rise. DigiTimes reported that chip foundries are being pressured by carmakers to renegotiate orders and quotes for next year.
    South Korea’s August PPI -0.3% m/m (last 0.3%); 8.4% yr/yr (last 9.2%)
    Singapore’s August CPI 7.5% yr/yr (expected 7.2%; last 7.0%) and Core CPI 5.1% yr/yr (expected 5.0%; last 4.8%)
    Australia’s flash September Manufacturing PMI 53.9 (last 53.8) and flash Services PMI 50.4 (last 50.2)
    New Zealand’s Q3 Westpac Consumer Sentiment 87.6 (last 78.7)

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