Traders Market Weekly: Geopolitics, ECB and Apple

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  • #43307

    may GOD bless QUEEN & family — as she just passed on to her heavenly reward as a truly great one in history

    #43309
    TradersCom
    Keymaster

    longest reigning monarch in British history and a symbol of continuity and stability from the postwar era into the 21st century, has died. She was 96. … and universally loved … just three months after Britain held four days of public celebrations for her Platinum Jubilee, which marked her 70 years on the throne.

    ‘We mourn profoundly’: Charles issues statement on Queen’s death

    Her death was announced at 6.30pm London time prompting a wave of public mourning and triggering the immediate ascension of Prince Charles as King.

    On Wednesday, the palace announced her doctors had ordered the Queen to rest just a day after she appointed the 15th British prime minister of her reign, Liz Truss. Less than 24 hours later it was confirmed her doctors were “concerned” for her health and recommended she be put under medical supervision. All of her children and several other family members travelled to Scotland to be by her side.

    Charles has succeeded his mother as King and head of the royal family, with a coronation ceremony to be staged at Westminster Abbey in the coming months. The 73-year-old is the oldest newly crowned monarch in British history. He has been first-in-line to the throne since he was three.


    Queen Elizabeth photographed on Tuesday when she met new British Prime Minister Liz Truss.

    Her death will plunge Britain and 14 other realms, including Australia, into an official period of mourning which will be observed throughout more than 30 other Commonwealth member states, almost all former territories of the British Empire.

    The King is expected to make a formal address within 24 hours and meet with British Prime Minister Liz Truss.
    Prince Charles, seen here with his wife Camilla, Duchess of Cornwall, becomes King.

    Truss, one of the last people to meet with the Queen two days before her death, said the late monarch was “the rock on which modern Britain was built”.

    “Our country has grown and flourished under her reign,” she told the nation from Downing Street.

    “Britain is the great country it is today because of her … She was the very spirit of Great Britain – and that spirit will endure.”

    Australia’s Governor-General, David Hurley, said the Queen has offered a lifetime of tireless service.

    “When I reflect on my own memories – she was my Queen for my whole life – I think of Her Majesty’s dignity and her compassion,” he said in a statement. “Her dedication and tireless work ethic. And her selflessness and unwavering commitment to the people that she served. To us.”

    Elizabeth became sovereign in 1952 following the sudden death of her father, King George VI. She was just 25 at the time and in the 70 years since has morphed into an adored leadership figure and one of the world’s most admired women.

    Her death will spark new speculation over the monarchy’s long-term future and fuel debate in Commonwealth countries such as Australia about whether it is time for them to become a republic.

    Prince Philip, the Queen’s husband of 73 years, died at Windsor Castle in April 2021 after being treated in hospital for an infection and heart condition. He was just two months short of his 100th birthday.

    The Queen is survived by her four children Charles, Princess Anne, Prince Andrew and Prince Edward, eight grandchildren and 10 great-grandchildren.

    She had travelled to her private Scottish home of Balmoral for the start of her traditional summer break on July 21. Her death has triggered Operation London Bridge, the codename for the monarch’s carefully designed funeral plans.

    Her coffin is expected to lie in state in Westminster Hall in central London for four days for the public to file past and pay their respects. More than 200,000 people attended when the Queen Mother’s body was laid in state following her death in 2002.

    A funeral is expected to be held at Westminster Abbey within nine days, followed by a smaller family service at Windsor Castle within 12 days.

    The monarch permanently moved from Buckingham Palace to Windsor Castle west of London at the start of the coronavirus pandemic in 2020.

    She was just 25 when she became Queen Elizabeth II on February 6, 1952, on the death of her father and reigned for 70 years and 214 days – a record beaten only by Louis XIV (72 years and 110 days).

    Public appearances became increasing rare in 2022, missing events such as the Commonwealth Day Service in March and Easter Sunday service in April as the palace wound back her official duties amid speculation she had been forced into a wheelchair because of her worsening mobility.

    When she did undertake public duties she was visibly more frail than she had been previously, often with a walking stick.

    “As you can see, I can’t move”: The Queen now uses a walking stick.

    This week she broke a longstanding tradition meet with Truss at Balmoral and invite her to form government. She had performed the ceremony at Buckingham Palace since she came to the throne.

    On February 20, the palace announced that she had tested positive for COVID-19, a week after Prince Charles announced he had contracted the disease for the second time.

    The Queen had received three doses of a coronavirus vaccine and had spent most of the first two years of the pandemic isolating at Windsor Castle in a protective bubble of trusted and continuously tested attendants.

    Just days before her COVID diagnosis was announced, she told two military visitors to Windsor Castle that, “as you can see, I can’t move”, when she stood to greet them while leaning upon her cane.

    Queen Elizabeth II leaves after attending a service of Thanksgiving to mark the centenary of The Royal British Legion at Westminster Abbey on October 12, 2021 in London, England.

    In May, she missed the annual state opening of parliament for just the third time, handing over the constitutional duties for the first time to Charles, in a significant moment of his gradual transition to sovereign.

    She made only brief appearances at her Jubilee celebrations, both times on the palace balcony with her family to wave to adoring crowds. But she did provide one show-stopping moment in a short skit alongside Michael Bond’s Paddington Bear to open a pop concert in her honour.

    She addressed her own mortality in a pre-recorded video address to delegates at the Glasgow Climate Summit in November 2021.

    “It is the hope of many that the legacy of this summit – written in history books yet to be printed – will describe you as the leaders who did not pass up the opportunity; and that you answered the call of those future generations,” she said.

    • This reply was modified 3 months ago by TradersCom.
    #43311

    Dow 31,773.80 192.52 0.61%
    S&P 500 4,006.09 26.22 0.66%
    Nasdaq 11,862.13 70.23 0.60%
    GlobalDow 3,508.68 26.88 0.77%
    Gold 1,718.60 -9.20 -0.53%
    Oil 82.82 0.88 1.07%

    90 minute biography for a great symbolic royal leader thru the years 🙂

    #43314
    MoneyNeverSleeps
    Participant

    3D Systems (DDD) announces formation of new, wholly-owned biotech company called Systemic Bio; company will provide initial $15 mln seed investment… DDD up 3.6%
    American Outdoor Brands (AOUT) misses by $0.07, misses on revs… AOUT down 7.0%
    DocuSign (DOCU) beats by $0.02, beats on revs; guides Q3 revs in-line; reaffirms FY23 revs guidance… DOCU up 17.3%
    RH (RH) beats by $1.38, beats on revs; guides Q3 revs below consensus; guides FY23 revs in-line… RH up 1.1%
    Smith & Wesson Brands (SWBI) misses by $0.10, misses on revs… SWBI down 5.4%
    Zscaler (ZS) beats by $0.04, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus… ZS up 10.9%
    Zumiez (ZUMZ) misses by $0.31, misses on revs; guides Q3 EPS below consensus, revs below consensus… ZUMZ down 9.6%

    #43316
    MoneyNeverSleeps
    Participant

    3D Systems Announces Formation of New Biotech Company, Systemic Bio™, to Accelerate Drug Discovery and Development

    New company will leverage 3D Systems’ recent breakthroughs in bioprinting of vascularized human organs and tissues to accelerate new drug development, reduce costs, and ultimately reduce or eliminate the need for animal testing
    Unique bioprinted organ-on-a-chip platform, h-VIOS™, created using hydrogels to produce complex vasculature that supports extended life in healthy or diseased human cells for use in drug studies
    3D Systems to provide $15 million in seed funding to demonstrate efficacy of technology and business model, with targeted revenues of Systemic Bio approaching $100 million annually within five years
    Taci Pereira named Chief Executive Officer of Systemic Bio, bringing deep expertise in bioengineering and bioprinting

    https://www.3dsystems.com/press-releases/3d-systems-announces-formation-new-biotech-company-systemic-bio-accelerate-drug

    #43317
    MoneyNeverSleeps
    Participant

    Democrats are preparing to draft legislation that would ban former President Trump from running for office again, but efforts are unlikely to succeed, according to the New York Times

    #43322
    MoneyNeverSleeps
    Participant

    Only three S&P 500 sectors closed with losses on the day, utilities (-0.1%), consumer staples (-0.2%), and communication services (-0.4%). Health care (+1.8%) and financials (+1.7%) sat atop the leaderboard. Semiconductor stocks were notably strong today with the PHLX Semiconductor Index closing up 1.8%.

    Energy (+0.5%) closed near the middle of the pack as oil prices climbed.
    WTI crude oil futures rose 1.7% to $83.26/bbl while natural gas rose 1.2% to $7.92/mmbtu.

    #43323
    MoneyNeverSleeps
    Participant

    U.S. Treasuries ended Thursday on a lower note after surrendering their modest opening gains.

    Today’s retreat took place alongside a bumpy session in equities that saw early weakness followed by a rebound. The selling in Treasuries returned yields toward the midpoint of their ranges from yesterday and it followed a 75-bps rate hike from the European Central Bank, which was expected.

    2-yr: +4 bps to 3.49%
    3-yr: +5 bps to 3.54%
    5-yr: +4 bps to 3.40%
    10-yr: +3 bps to 3.29%
    30-yr: +4 bps to 3.44%

    #43351
    Truman
    Participant

    Japan’s Nikkei: +0.5% Friday (+2.0% for the week)
    Hong Kong’s Hang Seng: +2.7% (-0.5% for the week)
    China’s Shanghai Composite: +0.8% (+2.4% for the week)
    India’s Sensex: +0.2% (+1.7% for the week)
    South Korea’s Kospi: CLOSED (-1.0% for the week)
    Australia’s ASX All Ordinaries: +0.8% (+1.2% for the week)

    #43352
    Truman
    Participant

    STOXX Europe 600: +1.62% Friday (+0.94% for the week)
    Germany’s DAX: +1.43% (+0.29% for the week)
    U.K.’s FTSE 100: +1.23% (+0.96% for the week)
    France’s CAC 40: +1.41% (+0.73% for the week)
    Italy’s FTSE MIB: +1.9% (+0.7% for the week)
    Spain’s IBEX 35: +1.47% (+1.27% for the week)

    #43353
    Truman
    Participant

    The EU proposal to cap the price of Russian gas did not receive enough support from ministers, according to Reuters.
    Japan’s Prime Minister Kishida said that his government will fully support restarting nuclear reactors.
    Komatsu reported a 29% yr/yr drop in August excavator demand from China.
    The EU suspended its visa agreement with Russia, effective September 12.
    The Bank of England postponed its next policy meeting to September 22.
    China’s August CPI was down 0.1% m/m (expected 0.2%; last 0.5%) but up 2.5% yr/yr (expected 2.8%; last 2.7%). August PPI was up 2.3% yr/yr (expected 3.1%; last 4.2%). August new loans reached CNY1.25 trln (expected CNY1.48 trln; last CNY679.00 bln) and total social financing reached CNY2.43 trln (expected CNY2.08 trln; last CNY756.10 bln).
    New Zealand’s August Electronic Card Sales were up 0.9% m/m (last -0.2%) and up 26.9% yr/yr (last -0.5%).
    France’s June Industrial Production was down 1.6% m/m (expected -0.5%; last 1.2%).
    Spain’s July Industrial Production was up 5.3% yr/yr (last 7.0%).

    #43354
    Truman
    Participant

    Dow 32076.66 +300.18 (0.94%)
    Nasdaq 12039.08 +176.98 (1.49%)
    SP 500 4053.03 +46.78 (1.17%)
    10-yr Note +2/32 3.296
    NYSE Adv 2610 Dec 410 Vol 320.0 mln
    Nasdaq Adv 3127 Dec 1132 Vol 2.60 bln

    #43355
    Truman
    Participant

    DJIA

    Caterpillar (CAT 188.41, +5.26, +2.87%), American Express (AXP 157.73, +4.21, +2.74%), and Walt Disney (DIS 115.15, +2.82, +2.51%) are among today’s top gainers.

    Fast food giant McDonald’s (MCD 259.07, -1.01, -0.39%) underperforms.

    The DJIA now stands about +3.53% higher off Tuesday’s (9/6) lows.

    • This reply was modified 3 months ago by Truman.
    #43356
    Truman
    Participant

    Additional factors fueling the positive sentiment include a weakening dollar, leadership from growth stocks after DocuSign (DOCU 63.78, +5.82, +10.0%) and Zscaler (ZS 185.73, +31.47, +20.4%) reported favorable quarterly results, and a recognition that bearish sentiment has reached extreme levels, which is being viewed as a contrarian indicator.

    The US Dollar Index is down 0.7% to 108.99.

    #43358
    Truman
    Participant

    There’s a risk-on mentality today as the mega cap and growth stocks outperform their peers. The Vanguard Mega Cap Growth ETF (MGK) is up 1.7% versus a 1.1% gain in the Invesco S&P 500 Equal Weight ETF (RSP). The Russell 3000 Growth Index shows a 1.5% gain versus a 1.0% gain in the Russell 3000 Value Index.

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