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

Viewing 15 posts - 61 through 75 (of 96 total)
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  • #70361
    Truman
    Participant

    Japan
    November Industrial Production -0.9% m/m, as expected (last 1.3%) and Capacity Utilization 0.3% m/m (last 1.5%).
    November Core Machinery Orders -4.9% m/m (expected -0.8%; last 0.7%); -5.0% yr/yr (expected 0.2%; last -2.2%)
    Former Bank of Japan official Maeda said that the BoJ could exit negative rate policy in April but cautioned that the central bank is likely to move slowly.
    Japan’s Prime Minister Kishida is reportedly planning to visit the U.S. in early April.

    #70362
    Truman
    Participant

    NZ
    ANZ expects that the Reserve Bank of New Zealand will announce its first rate cut in August.

    #70363
    Truman
    Participant

    Australia
    Australia reported its largest drop in full employment since the start of the pandemic.
    December Employment Change -65,100 (expected 17,600; last 72,600) and full employment change -106,600 (last 57,000).
    December Participation Rate 66.8% (expected 67.1%; last 67.3%) and Unemployment Rate 3.9%, as expected (last 3.9%)

    #70364
    Truman
    Participant

    Major European indices trade in the green.
    STOXX Europe 600: +0.5%,
    Germany’s DAX: +0.8%,
    U.K.’s FTSE 100: +0.2%,
    France’s CAC 40: +0.9%,
    Italy’s FTSE MIB: +1.1%,
    Spain’s IBEX 35: +0.2%.

    #70365
    Truman
    Participant

    Shipping giant Maersk is reportedly preparing for persistent disruptions to shipping routes.

    #70366
    Truman
    Participant

    Eurozone
    November Current Account surplus EUR24.6 bln (expected surplus of EUR30.9 bln; last surplus of EUR32.3 bln).
    November Construction Output -0.98% m/m (last -0.71%)

    European Central Bank policymaker Nagel said that the growth outlook for Germany looks a bit better this year with further improvement expected in 2025.

    #70367
    Truman
    Participant

    Spain
    November trade deficit EUR2.40 bln (last deficit of EUR5.10 bln)

    #70368
    Truman
    Participant

    Taiwan Semiconductor Manufacturing (TSM 110.13, +7.18, +7.0%): beats by $0.06, reports revs in-line; guides Q1 revs in-line

    #70369
    Truman
    Participant

    Fastenal (FAST 65.02, +1.64, +2.6%): beats by $0.01, reports revs in-line
    Discover Financial Services (DFS 96.55, -12.19, -11.2%): reports Q4 (Dec) results, beats on revs; provides FY24, expects net charge-offs of 4.9-5.3%
    Alcoa (AA 27.19, +0.01, +0.04%): beats by $0.01, reports revs in-line; issues FY24 alumina and aluminum production and shipment forecasts
    KeyCorp (KEY 13.62, -0.22, -1.6%): beats by $0.02; provides outlook for FY24
    M&T Bank (MTB 133.00, +2.04, +1.6%): misses by $0.36; sees FY24 loans of $134-138 bln; sees net interest income of $6.7-6.8 bln

    #70370
    Truman
    Participant

    Plug Power (PLUG 2.38, -0.35, -12.8%): enters into an At Market Issuance Sales Agreement to sell shares of its common stock having an aggregate offering price of up to $1.0 billion

    #70371
    Truman
    Participant

    Humana (HUM 394.00, -53.76, -12.0%): discloses that it expects individual Medicare Advantage growth of approximately 100,000 members for the year ending December 31, 20247-6.8 bln

    #70372
    Truman
    Participant

    Apple (AAPL 186.05, +3.37, +1.8%): upgraded to Buy from Neutral at Bank of America; will sell watches without oxygen sensor following yesterday’s court ruling, according to Bloomberg
    $6.7-6.8 bln

    #70373
    Truman
    Participant

    Target (TGT 139.26, +0.52, +0.4%): announced that CFO Michael Fiddelke has been named chief operating officer, effective Feb. 4, 2024

    #70374
    Truman
    Participant

    S&P 500 futures are up 18 points and are trading 0.4% above fair value,
    Nasdaq 100 futures are up 135 points and are trading 0.9% above fair value,
    Dow Jones Industrial Average futures are down 71 points and are trading 0.2% below fair value.

    Pre-open gains in mega cap stocks have boosted futures tied to the S&P 500 and Nasdaq 100 after the market started the week with losses, predicated on the notion that the Fed may not cut rates as soon, or as much, as the market hoped. This rethink was partially related to strong economic data this week, so market participants will be keenly focused on this morning’s release of the weekly jobless claims report and December Housing Starts and Building Permits at 8:30 ET.

    Treasury yields are slightly lower than yesterday in front of the data.
    The 2-yr note yield is down three basis points to 4.33% and the 10-yr note yield is down two basis points to 4.09%.

    The latest batch of earnings news has received mixed reactions. Taiwan Semiconductor Manufacturing Co. (TSM) is a winning standout this morning after beating earnings estimates while Discover Financial Services (DFS) shows a big pre-open loss after its earnings report.

    #70375
    Truman
    Participant

    Weekly initial jobless claims totaled 187,000 (consensus 206,000) following a revised count of 203,000 last week (from 202,000). Continuing claims totaled 1.806 million following last week’s count of 1.832 million (from 1.834 million).

Viewing 15 posts - 61 through 75 (of 96 total)
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