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

Viewing 15 posts - 76 through 90 (of 96 total)
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  • #70376
    Truman
    Participant

    Housing starts totaled 1.460 million in December (consensus 1.417 million) following a revised count of 1.525 million (from 1.560 million).

    Building permits came in at 1.495 million in December (consensus 1.478 million) following a revised count of 1.467 million (from 1.460 million).

    #70377
    Truman
    Participant

    The Philadelphia Fed Manufacturing Index -10.6 in January (consensus -8.0) from a revised -12.8 in December (from -10.5).

    #70378
    Truman
    Participant

    Morning Market
    Dow 37202.53 -64.14 (-0.17%)
    Nasdaq 15005.02 +149.40 (1.01%)
    SP 500 4755.71 +16.50 (0.35%)
    10-yr Note 0/32 4.107
    NYSE Adv 1204 Dec 1445 Vol 171 mln
    Nasdaq Adv 1905 Dec 2096 Vol 2.1 bln

    Strong: Information Technology, Communication Services, Industrials, Consumer Discretionary
    Weak: Health Care, Utilities, Consumer Staples, Energy, Financials, Real Estate

    Moving the Market
    — Relative strength in mega cap stocks; AAPL upgraded to Buy from Neutral at Bank of America
    — Strength in semiconductor stocks after TSMC (TSM) reported earnings
    — Digesting another batch of strong economic data

    The S&P 500 financial sector is trading down 0.3% after some components reported earnings results since yesterday’s close. Discover Financial Services (DFS 100.16, -8.58, -7.9%) is struggling under selling pressure today after disappointing with quarterly results. KeyCorp (KEY 13.30, -0.53, -3.9%) is another top laggard from the sector after its earnings report.

    Truist (TFC 36.09, +0.31, +0.9%) and M&T Bank (MTB 131.48, +0.52, +0.4%) trade up on their results.

    #70379
    Truman
    Participant

    Market Snapshot
    Dow 37202.53 -64.14 (-0.17%)
    Nasdaq 15005.02 +149.40 (1.01%)
    SP 500 4755.71 +16.50 (0.35%)
    10-yr Note 0/32 4.107
    NYSE Adv 1204 Dec 1445 Vol 171 mln
    Nasdaq Adv 1905 Dec 2096 Vol 2.1 bln

    Industry Watch
    Strong: Information Technology, Communication Services, Industrials, Consumer Discretionary
    Weak: Health Care, Utilities, Consumer Staples, Energy, Financials, Real Estate

    Moving the Market
    — Relative strength in mega cap stocks; AAPL upgraded to Buy from Neutral at Bank of America

    — Strength in semiconductor stocks after TSMC (TSM) reported earnings

    — Digesting another batch of strong economic data

    Financials underperform after DFS, KEY results
    18-Jan-24 11:00 ET
    Dow -64.14 at 37202.53, Nasdaq +149.40 at 15005.02, S&P +16.50 at 4755.71
    [BRIEFING.COM] Things are little changed at the index level recently.

    The S&P 500 financial sector is trading down 0.3% after some components reported earnings results since yesterday’s close. Namely, Discover Financial Services (DFS 100.16, -8.58, -7.9%) is struggling under selling pressure today after disappointing with quarterly results. KeyCorp (KEY 13.30, -0.53, -3.9%) is another top laggard from the sector after its earnings report.

    Meanwhile, Truist (TFC 36.09, +0.31, +0.9%) and M&T Bank (MTB 131.48, +0.52, +0.4%) trade up on their results.

    Market breadth reflects overall positive bias

    The S&P 500 (+0.4%) and Nasdaq Composite (+1.0%) have maintained their relative outperformance while the Dow Jones Industrial Average (-0.1%) narrowed its early loss.

    Market breadth reflects an overall positive vibe driving today’s price action. Advancers lead decliners by a roughly 3-to-2 margin at both the NYSE and the Nasdaq.

    #70380
    Truman
    Participant

    EIA Natural Gas Inventories showed a draw of 154 bcf versus last week’s draw of 140 bcf. Natural gas futures turned sharply lower in response, down 4.0% to $2.39/mmbtu.

    #70395

    Dow 37,468.61 201.94 0.54%
    S&P 500 4,780.94 41.73 0.88%
    Nasdaq 15,055.65 200.03 1.35%
    VIX 14.24 -0.55 -3.72%
    Gold 2,024.80 18.30 0.91%
    Oil 74.01 1.45 2.00%

    #70401

    and let’s kick it up a notch – with songs to celebrate a SUPER GREEN close
    From one of FAV groups all time 🙂

    #70405
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended the week on a mixed note with markets in China and Hong Kong seeing more selling.
    Japan’s Nikkei: +1.4% (+1.1% for the week),
    Hong Kong’s Hang Seng: -0.5% (-5.8% for the week),
    China’s Shanghai Composite: -0.5% (-1.7% for the week),
    India’s Sensex: +0.7% (-1.2% for the week),
    South Korea’s Kospi: +1.3% (-2.1% for the week),
    Australia’s ASX All Ordinaries: +1.0% (-1.0% for the week).

    #70406
    Truman
    Participant

    China
    December FDI -8.0% YTD (last -10.0%)

    Chinese press speculated that the People’s Bank of China will not make changes to its loan prime rate after this week’s decision to hold the medium-term lending facility rate unchanged.

    #70407
    Truman
    Participant

    Japan
    Japan’s CPI decelerated to 2.3% yr/yr in December, its slowest growth rate since July, which is fueling speculation that the Bank of Japan will maintain its ultra loose policy at next week’s meeting.
    December CPI -0.1% m/m (last -0.2%); 2.6% yr/yr (expected 2.8%).
    December National Core CPI 2.3%, as expected (last 2.5%).

    November Tertiary Industry Activity Index -0.8 (expected 0.2; last -0.7)

    Japan’s Prime Minister Kishida said that he will disband his political faction within the LDP in the wake of a fundraising scandal.

    #70408
    Truman
    Participant

    New Zealand
    December Business PMI 43.1 (last 46.5) and November Visitor Arrivals -1.5% m/m (last -6.7%)

    #70409
    Truman
    Participant

    Major European indices are looking for a modestly higher finish to the week.
    STOXX Europe 600: +0.1% (-1.2% week-to-date),
    Germany’s DAX: +0.2% (-0.6% week-to-date),
    U.K.’s FTSE 100: +0.4% (-1.8% week-to-date),
    France’s CAC 40: +0.1% (-0.8% week-to-date),
    Italy’s FTSE MIB: +0.2% (-0.2% week-to-date),
    Spain’s IBEX 35: +0.1% (-2.1% week-to-date).

    #70410
    Truman
    Participant

    Germany
    December PPI -1.2% m/m (expected -0.5%; last -0.5%); -8.6% yr/yr (expected -8.0%; last -7.9%)

    The German government approved a budget for 2024, expecting to borrow EUR39 bln.

    #70411
    Truman
    Participant

    U.K.
    December Retail Sales -3.2% m/m (expected -0.5%; last 1.4%); -2.4% yr/yr (expected 1.1%; last 0.2%).
    December Core Retail Sales -3.3% m/m (expected -0.6%; last 1.5%); -2.1% yr/yr (expected 1.3%; last 0.5%)

    The U.K. reported weaker than expected retail sales for December a couple days after the release of a hotter than expected December CPI, giving policymakers at the Bank of England additional data to consider ahead of their next policy meeting in two weeks..

    #70412
    Truman
    Participant

    Swiss National Bank President Jordan said that additional rate hikes are not needed.

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