Traders Market Weekly: Independence, Precious and Formative

Viewing 15 posts - 16 through 30 (of 57 total)
  • Author
    Posts
  • #39344
    Truman
    Participant

    Brokerage research calls of note:

    Upgrades: AZO, CHWY, FMS, GTLB, EYE, ODFL, HOOD, SMPL, VET, WEC
    Downgrades: ALNY, ALTR, AGR, BBBY, COIN, CBRL, DSGX, ETSY, FND, INFSA, IOT, UFCS, VRNS

    #39345
    TradersCom
    Keymaster

    Durable goods orders solid in May

    Total durable goods orders increased 0.7% month-over-month (consensus +0.1%) following an unrevised 0.4% increase in April. Excluding transportation, durable goods orders also increased 0.7% (consensus +0.4%) following a downwardly revised 0.2% increase (from 0.3%) in April.

    The key takeaway from the report is that business spending held up quite well in May, evidenced by the 0.5% increase in nondefense capital goods orders excluding aircraft.

    New orders for primary metals increased 3.1% after increasing 0.9% in April.
    New orders for fabricated metal products were unchanged following a 0.4% decline in April.
    New orders for machinery increased 1.1% following a 1.0% increase in April.
    New orders for transportation equipment rose 0.8% after increasing 0.7% in April, paced by a 0.5% increase in new orders for motor vehicles and parts.
    Shipments of nondefense capital goods, excluding aircraft, jumped 0.8% after increasing 0.8% in April. This component factors into GDP computations, so it is a positive input for Q2 GDP.

    #39353

    ^^^ +1s on great earlier posts & market analysis 🙂

    As WALL, K, and MAIN streets debate is this a BEAR MARKET RALLY or a real one ahead
    The WAR, inflation, gas/oil, higher interest rates, supply chain, etc. all denote challenges ahead
    Keep economic reports in weeks ahead will help us get a better direction of where we’re going

    Dow 31,438.26 -62.42 -0.20%
    S&P 500 3,900.11 -11.63 -0.30%
    Nasdaq 11,520.53 -87.09 -0.75%
    GlobalDow 3,593.96 17.68 0.49%
    Gold 1,823.70 -6.60 -0.36%
    Oil 109.83 2.21 2.05%

    #39354

    BITCOIN $20,900 … as “kryptos” continue to struggle (and that LOW continues to hold)
    they depend on a healthy economy for the blockchain to work with confidence

    #39355
    Truman
    Participant

    Market Updates

    S&P Futures vs Fair Value: +16.0
    10 yr Note: 3.223%
    USD/JPY: 135.87 +0.40
    EUR/USD: 1.0587 +0.0002
    Europe: FTSE: +1.1% DAX: +0.9% CAC: +1.4%
    Asia: Hang Seng: +0.9% Shanghai: +0.9% Nikkei: +0.7%

    #39356
    Truman
    Participant

    The global equity markets are firm. S&P Futures are up about 16 points to trade around the 3920 area. The market saw early weakness but buyers were present around the 3885 zone, with 3885.75 representing the low print. Spoos swooped back to higher ground, peaking out at 3937.75 before drifting back to the current level.

    In Asia, China rose 0.9% while Japan gained 0.7%. The Shanghai Composite succumbed to early pressure but reversed after officials continued to tout potential policy measures to stimulate the economy. Additionally, health authorities reduced the quarantine period for inbound visitors which is an initial step toward easing COVID-19 restrictions. In Japan, the Nikkei also bounced back from early weakness to extend its winning streak to four. Energy stocks were among the best performers with Inpex Corp and Japan Petroleum advancing by 5%.

    In Europe, the major bourses are firmly in positive territory. The economic slate was light. German GfK Consumer Climate came in a couple ticks better than expectations at -27.4. With sentiment improving in China, luxury retailers continued to climb with the likes of LVMH and Kering up 2%. Energy giants, BP and Shell, are surging as much as 3% with crude oil futures back above $111.

    #39357
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Tuesday on a higher note after overcoming a weak start.

    China reduced the required quarantine time for international travelers.
    China’s National Development and Reform Commission acknowledged challenges associated with stabilizing prices and the job market.
    There was growing speculation that the Bank of Japan will struggle to maintain its ultra-loose policy in the face of global inflation. South Korea’s Prime Minister called on his government to come up with a plan to stabilize inflation.

    —Equity Markets—

    Japan’s Nikkei: +0.7%
    Hong Kong’s Hang Seng: +0.9%
    China’s Shanghai Composite: +0.9%
    India’s Sensex: UNCH
    South Korea’s Kospi: +0.8%
    Australia’s ASX All Ordinaries: +0.9%

    #39358
    Truman
    Participant

    Japan’s May BoJ Core CPI 1.5% yr/yr, as expected (last 1.4%)

    #39359
    Truman
    Participant

    Major European indices trade on a firmly higher note.

    European Central Bank President Lagarde repeated that the ECB is planning a 25-bps rate hike in July, followed by another hike in September. The ECB is reportedly working on a scheme to cap the borrowing costs of highly indebted countries. The U.K.’s House of Commons voted in favor of overriding elements of the Northern Ireland protocol.

    STOXX Europe 600: +0.6%
    Germany’s DAX: +0.7%
    U.K.’s FTSE 100: +1.2%
    France’s CAC 40: +1.1%
    Italy’s FTSE MIB: +1.1%
    Spain’s IBEX 35: +1.3%

    #39360
    Truman
    Participant

    Germany’s July GfK Consumer Climate -27.4 (expected -27.6; last -26.2)
    France’s June Consumer Confidence 82 (expected 84; last 85)
    Italy’s April Industrial Sales 2.7% m/m (last 2.5%); 22.0% yr/yr (last 21.6%)

    #39361
    Truman
    Participant

    S&P 500 futures are up 0.4% above fair value;
    Nasdaq 100 futures are up 0.2% above fair value;
    DJIA futures are 0.6% above fair value

    Key factors driving the futures market:

    China shortens quarantine period for inbound visitors and Shanghai and Beijing report zero COVID cases for first time since February
    A number of banks, including Morgan Stanley (MS) and Goldman Sachs (GS), raise dividends and/or share buyback plans following stress tests
    Expectation for quarter-end rebalancing activity to drive upside in stocks
    ECB President Lagarde not expecting recession and says ECB can move faster on rate hikes if needed
    Saudi Arabia and UAE have limited spare capacity to raise output, according to Reuters
    German consumer sentiment hits record low
    Nike (NKE) tops fiscal Q4 EPS estimate, but sees inventory surge, gross margin contraction, and issues soft fiscal Q1 revenue guidance

    #39362
    Truman
    Participant

    Brokerage research calls of note:

    Upgrades: FTNT, MCHP, TAP, OVV, RIOT, SNOW
    Downgrades: EBAY, EPZM, FTCH, EM, SAM, JELD, POR, SHEN, STT

    #39370

    Unfortunately the BEARS woke up today as DOW is down -400
    after a nice BEAR MARKET rally last week — ALL INVESTMENTS are in their WINTER SEASON
    as a FAV Indie group shares … hopefully there is a turning point & NEW financial YEAR ahead
    Both LIVE & original cuts of a great song — esp. the vocals 🙂

    #39372

    Dow 30,946.99 -491.27 -1.56%
    S&P 500 3,821.55 -78.56 -2.01%
    Nasdaq 11,181.54 -343.01 -2.98%
    GlobalDow 3,580.33 -16.48 -0.46%
    Gold 1,820.60 -4.20 -0.23%
    Oil 111.61 2.04 1.86%
    Bitcoin USD 20,216 -684 -3.27%

    #39393
    TradersCom
    Keymaster

    After-Hours Spotlight:

    Bally’s (BALY) announces sale-leaseback transaction with GLPI for two casinos… BALY up 4.5%
    Beyond Air (XAIR) announces that the FDA has approved LungFit PH to treat term and near-term neonates with hypoxic respiratory failure… XAIR up 21.6%
    Pinterest (PINS) CEO Ben Silbermann is stepping down; Google exec Bill Ready named new CEO… PINS up 4.6%
    Progress Software (PRGS) beats by $0.09, beats on revs; guides Q3 EPS below consensus, revs below consensus; guides FY22 EPS in-line, revs in-line… PRGS down 1.6%
    Tesla (TSLA) inches lower on report it has laid off hundreds of workers on its Autopilot team, according to Bloomberg… TSLA down 0.3%
    Walt Disney’s (DIS) Board of Directors unanimously votes to extend CEO Bob Chapek’s contract for three years… DIS up 0.2%

Viewing 15 posts - 16 through 30 (of 57 total)
  • You must be logged in to reply to this topic.