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BlackRock (BLK 656.01, -0.03, -0.0%): FDIC announces retention of BLK as financial advisor to assist with the liquidation of securities of the former Signature Bank (SBNY) and Silicon Valley Bank (SIVB)
Costco (COST 485.12, -12.01, -2.4%): reports March net sales +0.5% yr/yr to $21.71 bln; total monthly comparable sales -1.1%, adj comps (ex gas fx) +2.6%
AbbVie (ABBV 159.70, -1.10, -0.7%): guides Q1 earnings below consensus; lowers FY23 earnings outlook due to acquired IPR&D and milestone expenses
Walt Disney (DIS 100.02, +0.11, +0.1%): named Hulu president Joe Earley as head of streaming, replacing Michael Paull, according to Variety
Weekly initial jobless claims totaled 228,000 (consensus 203,000) following last week’s upwardly revised count of 246,000 (from 198,000).
Continuing claims came in at 1.823 million following last week’s upwardly revised total of 1.817 million (from 1.689 million).The key takeaway from the report is that it featured a revision to the seasonal adjustment factor, which resulted in big upward revisions to figures from recent weeks a sizable miss in this week’s report. That said, the higher level of claims will invite some questions about the strength of the labor market after last week’s release of the Job Openings and Labor Turnover survey for February showed a big drop in openings.
Energy complex futures are mixed.
WTI crude oil futures are up 0.4% to $80.94/bbl and natural gas futures are down 0.5% to $2.15/mmbtu.
Treasury yields moved noticeably higher in response to the data release.
The 2-yr note yield, at 3.69% just before 8:30 a.m. ET, is up two basis points to 3.79% and the 10-yr note yield, at 3.26% just before the release, is up one basis point to 3.29%.
The S&P 500 futures are down 9 points and are trading 0.2% below fair value.
The Nasdaq 100 futures are down 69 points and are trading 0.5% below fair value.
The Dow Jones Industrial Average futures are down 63 points and are trading 0.2% below fair value.Dow 33,485.29 2.57 0.01%
S&P 500 4,105.02 14.64 0.36%
Nasdaq 12,087.96 91.09 0.76%
VIX 18.40 -0.68 -3.56%
Gold 2,022.70 -12.90 -0.63%
Oil 80.45 -0.16 -0.20%
BITCOIN 28,880Wishing BLESSED Good Friday & Passover & Easter to all in days ahead
STOCK MARKET is closed today as “mother of all reports” came in close to expectations
+236,000 JOBS (v. +239K expected) and 3.5% … Futures mostly flat so far 🙂Two thousand years ago Jesus is left there hanging.
Purple sky slowly turning golden.
Cowards at his feet loudly laughing.
Loved ones stumbling homeward
Their words reeling.April 9-16, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Ban Earnings
[See the full post at: Traders Market Weekly: Banker Stories in the Spotlight]
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