Traders Market Weekly: Record Highs with Netflix, PCE & Tesla Risk

Viewing 15 posts - 46 through 60 (of 96 total)
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  • #70330
    Truman
    Participant

    France
    November government budget deficit EUR198.0 bln (last deficit of EUR177.7 bln)

    #70331
    Truman
    Participant

    U.S. Bancorp (USB 41.37, -0.01, -0.02%): beats by $0.28, misses on revs
    Charles Schwab (SCHW 64.55, +0.24, +0.4%): beats by $0.04, reports revs in-line
    Manchester United (MANU 21.00, -0.20, -0.9%): misses single estimate on top and bottom lines; lowers guidance

    #70332
    Truman
    Participant

    Tesla (TSLA 216.24, -3.67, -1.7%): lowers Model Y prices in Germany, according to Reuters

    #70333
    Truman
    Participant

    Ford (F 11.26, -0.20, -1.8%): downgraded to Neutral from Buy at UBS

    #70334
    Truman
    Participant

    Morgan Stanley (MS 84.99, -0.98, -1.1%): downgraded to Neutral from Overweight; Direct Lending Fund commences initial public offering of 5.0 mln shares of common stock; estimated price for offering is $20.67/share with shares trading under ticker symbol “MSDL” on NYSE

    #70335
    Truman
    Participant

    Natera (NTRA 68.01, +5.10, +8.1%): provides update on Ravgen trial: No willful infringement, damages significantly less than what Ravgen was seeking

    #70336
    Truman
    Participant

    Walt Disney (DIS 92.63, -0.42, -0.5%): nominates 12 directors for election at upcoming annual meeting of shareholders

    #70337
    Truman
    Participant

    MBA Mortgage Applications Index increased 10.4% with purchase applications jumping 9% and refinance applications climbing 11%.

    #70338
    Truman
    Participant

    Retail sales rose 0.6% in December (consensus 0.4%) following a 0.3% increase in November.
    Retail sales, excluding autos, rose 0.4% in December following a 0.2% increase in November.

    Export prices declined 0.9% in December following a 0.9% decline in November.
    Export prices, excluding agriculture, declined 0.9% in December following a 1.0% decline in November.

    Import prices were unchanged in December following a revised 0.5% decline in November (from -0.4%).
    Import prices, excluding oil, were unchanged in December following a revised 0.1% increase in November (from 0.2%).

    #70339
    Truman
    Participant

    Industrial production rose 0.1% in December (consensus -0.1%) following a 0.2% increase in November.
    Capacity utilization was unchanged in December (consensus 78.8%) from a revised 78.6% (from 78.8%) in November.

    • This reply was modified 2 months, 4 weeks ago by Truman.
    #70341
    Truman
    Participant

    S&P 500 futures are down 30 points and are trading 0.4% below fair value,
    Nasdaq 100 futures are down 134 points and are trading 0.5% below fair value,
    Dow Jones Industrial Average futures are down 179 points and are trading 0.4% below fair value.

    #70342
    Truman
    Participant

    Morning Market
    Dow 37289.41 -71.71 (-0.19%)
    Nasdaq 14763.53 -180.82 (-1.21%)
    SP 500 4734.42 -31.56 (-0.66%)
    10-yr Note -27/32 4.126
    NYSE Adv 628 Dec 2068 Vol 161 mln
    Nasdaq Adv 1029 Dec 2951 Vol 1.6 bln

    Industry Watch
    Strong: Consumer Staples
    Weak: Information Technology, Communication Services, Consumer Discretionary, Materials, Real Estate, Industrials

    Moving the Market
    — Rethinking hopeful rate cut view following comments from central bankers
    — Rising market rates
    — Mega cap losses having an outsized impact

    Semiconductor stocks underperform, clipped by rising rates
    17-Jan-24 10:30 ET
    Dow -71.71 at 37289.41, Nasdaq -180.82 at 14763.53, S&P -31.56 at 4734.42

    The market-cap weighted S&P 500 is down 0.6% and the equal weighted S&P 500 is also down 0.6%.

    Semiconductor stocks are a pocket of weakness today, pressured by the jump in rates. The PHLX Semiconductor Index (SOX) is down 1.9% with every component showing losses. NVIDIA (NVDA 554.13, -9.66, -1.7%) is trading down nearly 2.0%.

    The Vanguard Mega Cap Growth ETF (MGK) is down 1.5% while the market-cap weighted S&P 500 is down 0.8%.

    Rising market rates are pressuring the stock market, especially the 2-yr note yield, which is up 13 basis points to 4.35% and the 10-yr note yield is up five basis points to 4.12%.

    Lagging mega caps have pinned their respective S&P 500 sectors in negative territory. The communication services (-1.7%), information technology (-1.6%), and consumer discretionary (-1.4%) sectors are all down more than 1.0%. The utilities (+0.2%) and financials (+0.2%) sectors are outperforming.

    #70343
    Truman
    Participant

    Business inventories declined 0.1% in November following a 0.1% decline in September.

    The NAHB Housing Market Index rose to 44 in January (consensus 38) from 37.

    #70344

    Dow 37,266.67 -94.45 -0.25%
    S&P 500 4,739.21 -26.77 -0.56%
    Nasdaq 14,855.62 -88.73 -0.59%
    VIX 14.80 0.96 6.94%
    Gold 2,008.30 -21.90 -1.08%
    Oil 72.82 0.42 0.58%

    #70360
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Thursday on a mixed note with continued weakness in Chinese equities driving the Shanghai Composite to its lowest level in nearly four years before recovering.
    Japan’s Nikkei: UNCH,
    Hong Kong’s Hang Seng: +0.8%,
    China’s Shanghai Composite: +0.4%,
    India’s Sensex: -0.4%,
    South Korea’s Kospi: +0.2%,
    Australia’s ASX All Ordinaries: -0.6%.

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