Traders Market Weekly: Geopolitics and Stormy Weather

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  • #69889

    Dow 37,683.01 216.90 0.58%
    S&P 500 4,763.54 66.30 1.41%
    Nasdaq 14,843.77 319.70 2.20%
    VIX 13.06 -0.29 -2.17%
    Gold 2,034.60 -15.20 -0.74%
    Oil 71.00 -2.81 -3.81%

    RALLY TIME 🙂

    #69890
    MoneyNeverSleeps
    Participant

    Extreme Networks (EXTR) lowers Q2 revenue guidance below consensus, reflecting industry headwinds of channel digestion and elongated sales cycles… EXTR down 8.1%

    #69891
    MoneyNeverSleeps
    Participant

    Microchip (MCHP) guides Q4 revenue below consensus due to some customers and distributors wanting to receive lower levels of shipments as they de-risk inventory positions.
    MCHP down 4.3%

    #69892
    MoneyNeverSleeps
    Participant

    Urban Outfitters (URBN) announces that net sales for two-months ended December 31, 2023 increased 10% yr/yr… URBN up 5.6%

    Zumiez (ZUMZ) reports sales decreased 4.4% for nine-week period ended December 30, 2023; also expects Q4 revenue and EPS to come in at low end of guidance ranges… ZUMZ down 2.0%

    #69893
    MoneyNeverSleeps
    Participant

    Unity Software (U) to reduce its current workforce by 25% as it restructures and refocuses on its core business… U up 4.5%

    #69896
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Tuesday on a mixed note.
    Japan’s Nikkei: +1.2%,
    Hong Kong’s Hang Seng: -0.2%,
    China’s Shanghai Composite: +0.2%,
    India’s Sensex: UNCH,
    South Korea’s Kospi: -0.3%,
    Australia’s ASX All Ordinaries: +1.0%.

    Japan’s Nikkei (+1.2%) outperformed after being closed on Monday with chipmakers showing strength.
    Nikkei reported that the Bank of Japan was likely a net seller of equities in 2023 for the first time since launching its ETF purchase program in 2010.
    Samsung and LG reported smaller than expected operating profits for Q4.

    #69897
    Truman
    Participant

    Japan’s
    November Household Spending -1.0% m/m (expected 0.2%; last -0.1%); -2.9% yr/yr (expected -2.3%; last -2.5%).
    December Tokyo CPI 2.4% yr/yr (last 2.7%) and Tokyo Core CPI 2.1% yr/yr, as expected (last 2.3%)

    #69898
    Truman
    Participant

    South Korea’s
    November Current Account surplus $4.06 bln (last $6.80 bln)
    Samsung and LG reported smaller than expected operating profits for Q4.

    #69899
    Truman
    Participant

    Australia’s
    Australia reported better than expected Retail Sales for November. November Retail Sales 2.0% m/m (expected 1.2%; last -0.4%)
    November Building Approvals 1.6% m/m (expected -2.0%; last 7.2%); -4.6% yr/yr (last -5.5%).
    November Private House Approvals -1.7% m/m (last 2.9%).

    #69900
    Truman
    Participant

    There was ongoing chatter about a potential reserve requirement ratio cut in China.

    #69901
    Truman
    Participant

    Major European indices trade in the red with Spain’s IBEX (-2.0%) showing relative weakness with drugmaker Grifols falling more than 25.0% after being targeted by a short seller.
    STOXX Europe 600: -0.4%,
    Germany’s DAX: -0.4%,
    U.K.’s FTSE 100: UNCH,
    France’s CAC 40: -0.4%,
    Italy’s FTSE MIB: -0.6%,
    Spain’s IBEX 35: -2.0%.

    #69902
    Truman
    Participant

    Eurozone’s
    November Unemployment Rate 6.4% (expected 6.5%; last 6.5%)

    European Central Bank policymaker Centeno said that looser policy was approaching and that a decision regarding the initial rate cut will likely be made sooner than previously expected.

    #69903
    Truman
    Participant

    Germany’s
    November Industrial Production -0.7% m/m (expected 0.2%; last -0.3%); -4.9% yr/yr (last -3.4%)

    France’s
    November trade deficit EUR5.9 bln (expected deficit of EUR7.9 bln; last deficit of EUR8.5 bln).
    November Current Account deficit EUR2.8 bln (last -EUR3.4 bln)

    Italy’s
    November Unemployment Rate 7.5% (expected 7.9%; last 7.7%)

    Swiss
    December Unemployment Rate 2.2%, as expected (last 2.1%)

    • This reply was modified 3 months, 1 week ago by Truman.
    #69905
    Truman
    Participant

    Juniper Networks (JNPR 37.25, +7.03, +23.3%): Hewlett Packard Enterprise (HPE) in discussions to acquire Juniper Networks for $13 bln, according to WSJ

    #69906
    Truman
    Participant

    Rocket Lab USA (RKLB 5.68, +0.13, +2.3%): awarded $515 mln contract by the Space Development Agency to design 18 Tranche 2 Transport Layer-Beta Data Transport Satellites

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