Traders Market Weekly: Markets Rupture with Soaring yields and Fund Outflows

Viewing 15 posts - 46 through 60 (of 61 total)
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  • #44714
    TradersCom
    Keymaster

    Dribbler dirty Dozen New ATH #DDD
    $PLTR 7.92 ▼ 0.025 (0.31%)
    $UPST 20.26 ▼ 2.21 (9.84%)
    $U 31.65 ▼ 2.78 (8.07%)
    $TASK 16.46 ▼ 0.41 (2.43%)
    $PATH 12.35 ▼ 0.59 (4.55%)
    $DKNG 14.97 ▼ 0.91 (5.73%)
    $GRWG 3.54 ▼ 0.20 (5.47%)
    $FUBO 3.67 ▼ 0.29 (7.32%)
    $AFRM 18.65 ▼ 2.01 (9.73%)
    $HOOD 9.60 ▼ 0.41 (4.10%) today
    $COIN 60.94 ▼ 6.37 (9.46%)
    $CPNG 16.30 ▼ 1.46 (8.20%)
    No cussing dribblers …

    #44715

    #44717

    Dow 29,225.61 -458.13 -1.54%
    S&P 500 3,640.47 -78.57 -2.11%
    Nasdaq 10,737.51 -314.13 -2.84%
    GlobalDow 3,197.03 -30.91 -0.96%
    Gold 1,670.00 0.00 0.00%
    Oil 81.58 -0.57 -0.69%

    #44726

    #61 🙂 🙂

    #44743
    TradersCom
    Keymaster

    Amylyx Pharmaceuticals (AMLX) receives FDA approval for Relyvrio for the treatment of amyotrophic lateral sclerosis (ALS), according to FDA’s website… AMLX up 10.3%
    KLA Corporation (KLAC) to build new research and development and manufacturing center in Newport, Wales, UK; expected to include capital investment of more than $100 mln… KLAC down 1.2%
    Lam Research (LRCX) down after-hours following Micron (MU) decision to cut wafer fab equipment capex 50% yr/yr… LRCX down 1.6%
    Micron (MU) beats by $0.07, misses on revs; guides Q1 EPS below consensus, revs below consensus; reducing supply growth, including ~50% fab equipment capex cut versus last year… MU down 0.7%
    NIKE (NKE) beats by $0.01, beats on revs; gross margin down 220 bps, revenue for NIKE Brand up 4% on reported basis… NKE down 6.4%
    Rent-A-Center (RCII) Follow-Up: Lowers Q3 guidance, says external economic conditions have continued to deteriorate; also CFO steps down, names Fahmi Karam as CFO… RCII down 14.9%

    #44744
    TradersCom
    Keymaster

    Earnings/Guidance

    Bed Bath & Beyond (BBBY) misses by $2.80, reports revs in-line
    BGC Partners (BGCP) sees Q3 revs below midpoint of prior guidance
    CarMax (KMX) misses by $0.61, misses on revs
    Concentrix (CNXC) misses by $0.02, reports revs in-line; expects constant currency sales growth of +7% yr/yr in Q4
    Enerpac Tool Group (EPAC) beats on top and bottom lines
    Jefferies (JEF) beats by $0.05, beats on revs
    MillerKnoll (MLKN) beats by $0.11, misses slightly on revs; guides NovQ EPS below consensus, revs in-line
    Rite Aid (RAD) misses by $0.17, reports revs in-line; guides FY23 EPS in-line, reaffirms FY23 revs guidance; lowers FY23 Adjusted EBITDA outlook
    Sunlight Financial (SUNL): installer liquidity event and volatile interest rates will impact FY22 performance; withdraws previous FY22 outlook
    The Duckhorn Portfolio (NAPA) reports EPS in-line, revs in-line; guides FY23 EPS below consensus, revs below consensus
    Vail Resorts (MTN) beats by $0.18, beats on revs
    Volta (VLTA) announces organizational realignment; to cut 10% of its current full-time employees; guides Q3 revs below consensus; withdraws FY22 revenue guidance
    Williams Cos (WMB) anticipates FY22 Adjusted EBITDA will be near the high end of its previously announced guidance range of $6.1 to $6.4 billion.
    Worthington (WOR) beats by $0.03, beats on revs

    #44770
    Truman
    Participant

    Equity indices in the Asia-Pacific region were mixed on Friday as market participants generally showed some reserve in the wake of Wall Street’s losses.

    India’s Sensex (+1.8%) was a standout, gaining ground after the RBI voted 5-to-1 to raise its repo rate by 50 basis points to 5.90%, as expected.

    —Equity Markets—

    Japan’s Nikkei: -1.8% (-2.7% for the week)
    Hong Kong’s Hang Seng: +0.3% (-4.0% for the week)
    China’s Shanghai Composite: -0.6% (-2.1% 0 for the week)
    India’s Sensex: +1.8% (-1.2% for the week)
    South Korea’s Kospi: -0.7% (-5.9% for the week)
    Australia’s All Ordinaries: -1.2% (-1.6% for the week)

    #44771
    Truman
    Participant

    RBI voted 5-to-1 to raise its repo rate by 50 basis points to 5.90%, as expected.
    Japanese Prime Minster Kishida instructed his government to prepare a new stimulus package before the end of October, according to Reuters.
    Reports also indicate that the People’s Bank of China is lowering the floor rate on mortgages for first-time home buyers; and Reuters indicates that the PBOC is angling to provide support for the yuan by asking state-owned banks to be ready to sell dollars in offshore markets. USD/CNH +0.4% to 7.1255.
    China reported some mixed manufacturing PMI data for September that showed a slight expansion in the official manufacturing PMI (50.1) reading and some continued contraction in the Caixin Manufacturing PMI reading (48.1).
    China’s September Manufacturing PMI 50.1 (expected 49.6; prior 49.4) and Non-Manufacturing PMI 50.6 (prior 52.6); September Caixin Manufacturing PMI 48.1 (expected 49.5; prior 49.5)
    Japan’s August Industrial Production +2.7% m/m (expected +0.2%; prior +0.8%); August Unemployment Rate 2.5% (expected 2.5%; prior 2.5%); August Retail Sales +4.1% yr/yr (expected 2.8%; prior 2.4%); August Housing Starts +4.6% yr/yr (expected -4.1%; prior -5.4%); September Household Confidence 30.8 (prior 32.5)
    South Korea’s August Industrial Production -1.8% m/m (expected -0.5%; prior -1.3%) and +1.0% yr/yr (expected +1.3%; prior +1.5%); Retail Sales -1.8% m/m (prior -0.3%)
    Australia’s August Housing Credit +0.5% (prior +0.5%)

    • This reply was modified 4 months ago by Truman.
    #44773
    Truman
    Participant

    Major European indices are trading higher ahead of the U.S. open.

    —Equity Markets—

    STOXX Europe 600: +0.5%
    Germany’s DAX: +0.4%
    U.K.’s FTSE 100: -0.2%
    France’s CAC 40: +0.4%
    Italy’s FTSE MIB: +0.6%
    Spain’s IBEX 35: +0.6%

    #44774
    Truman
    Participant

    Eurozone CPI was up a record 10.0% year-over-year in September versus +9.1% in August.
    The latest reading is solidifying expectations that the ECB will raise rates by 75 basis points at its October meeting.
    The 10-yr UK gilt yield is down 11 basis points to 4.03% following reports that Prime Minister Truss and Finance Minister Kwarteng met with the Office for Budget Responsibility to talk about their fiscal plan.
    The OBR is expected to have a first draft of its forecast for the finance minister on Oct. 7, according to CNBC. GBP/USD -0.4% to 1.1072.
    Eurozone’s September CPI +1.2% m/m (expected +0.9%; prior +0.6%) and +10.0% yr/yr (expected +9.7%; prior +9.1%); August Unemployment Rate 6.6% (expected 6.6%; prior 6.6%)
    Germany’s September Unemployment Rate 5.5% (expected 5.5%; prior 5.5%)
    UK’s Q2 GDP revised to +0.2% qtr/qtr (expected -0.1%; prior +0.8%) and +4.4% yr/yr (expected +2.9%; prior +8.7%); September Nationwide HPI 0.0% m/m (expected +0.3%; prior +0.8%) and +9.5% yr/yr (expected +10.0%; prior +10.0%)
    Italy’s September CPI +0.3% m/m (expected +0.1%; prior +0.8%) and +8.9% yr/yr (expected +8.7%; prior +8.4%); August Unemployment Rate 7.8% (expected 7.9%; prior 7.9%)
    France’s September CPI -0.5% m/m (expected -0.1%; prior +0.5%) and +5.6% yr/yr (expected +5.9%; prior +5.9%); August PPI +2.7% m/m (prior +1.9%); August COnsumer Spending 0.0% m/m (expected -0.1%; prior -0.9%)
    Spain’s August Retail Sales 0.0% yr/yr (prior -0.5%)
    Switzerland’s August Retail Sales +3.0% yr/yr (prior +3.0%)

    #44775
    Truman
    Participant

    NIKE (NKE 85.23, -10.10, -10.59%): beats by $0.01, beats on revs; gross margin down 220 bps, revenue for NIKE Brand up 4% on reported basis; expects Q2 gross margins to decline approximately 350-400 bps yr/yr
    Micron (MU 50.75, +0.74, +1.48%): beats by $0.07, misses on revs; guides Q1 EPS below consensus, revs below consensus; reducing supply growth, including ~50% fab equipment capex cut versus last year
    Meta Platforms (META 136.80, +0.39, +0.29%): announces hiring freeze, warns employees of restructuring, according to Bloomberg
    Rent-A-Center (RCII 18.28, -4.05, -18.14%): Lowers Q3 guidance, says external economic conditions have continued to deteriorate; also CFO steps down, names Fahmi Karam as CFO
    Microsoft (MSFT 238.92, +1.42, +0.60%): resumed with an Outperform at Raymond James

    #44776
    Truman
    Participant

    The S&P 500 futures are up 10 points and are trading 0.3% above fair value.
    The Nasdaq 100 futures are up 26 points and are trading 0.2% above fair value.
    The Dow Jones Industrial Average futures are up 32 points and are trading 0.1% above fair value.

    Personal income increased 0.3% month-over-month in August, as expected, personal spending rose 0.4% (consensus +0.2%) following a downwardly revised 0.2% decline (from +0.1%) in July, the PCE Price Index increased 0.3% (consensus +0.2%) and the core-PCE Price index, which excludes food and energy, jumped 0.6% (consensus +0.4%) following a downwardly revised unchanged rading (from +0.1%) for July.

    On a year-over-year basis, the PCE Price Index was up 6.2%, versus 6.4% in July, but the core-PCE price Index was up 4.9%, versus 4.7% in July.

    The key takeaway from the report is that the inflation the Fed says it can control (i.e. core inflation) did not move in a friendly direction in August; therefore, market participants can continue to expect the Fed not to be their friend with monetary policy.

    #44777

    ohhhh the humanity … Outer bands of IAN have arrived at home
    Tomorrow most of remnanets will move thru our area
    Bambi & herd + Pugs & us are hunkering down … winds will be 30-40+ range with 4-6″ rain

    #44781

    Dow 28,725.51 -500.10 -1.71%
    S&P 500 3,585.62 -54.85 -1.51%
    Nasdaq 10,575.62 -161.89 -1.51%
    GlobalDow 3,168.16 -24.58 -0.77%
    Gold 1,668.70 0.10 0.01%
    Oil 79.64 -1.59 -1.96%

    #44782

    And this Cautious Investor was so close to buying some stocks on dip today
    but fought temptations … as “I RAN” and great new wave song to kickoff weekend
    🙂

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