Traders Market Weekly: Geopolitics and Stormy Weather

Viewing 15 posts - 46 through 60 (of 91 total)
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  • #69951
    Truman
    Participant

    Morning Market
    Dow 37577.36 +52.20 (0.14%)
    Nasdaq 14901.93 +44.22 (0.30%)
    SP 500 4765.09 +8.59 (0.18%)
    10-yr Note 0/32 4.013
    NYSE Adv 1396 Dec 1292 Vol 180 mln
    Nasdaq Adv 1696 Dec 2344 Vol 1.7 bln

    Industry Watch
    Strong: Communication Services, Consumer Discretionary, Real Estate, Industrials, Consumer Staples
    Weak: Energy, Materials, Health Care, Financials, Utilities

    Moving the Market
    — Wait-and-see ahead of the December Consumer Price Index on Thursday
    — Ongoing strength in mega cap stocks
    — Treasury yields moving slightly lower

    Gains in the mega cap space continue to support index moves, but Apple (AAPL 184.54, -0.60, -0.3%) and Tesla (TSLA 232.56, -2.37, -1.0%) have been left out of mega cap gains again today. The Vanguard Mega Cap Growth ETF (MGK) is up 0.7% versus a 0.2% gain the S&P 500 and a 0.3% gain in the Nasdaq.

    Market breadth reflects mixed action under the surface. Advancers have a 4-to-3 lead over decliners at the NYSE while decliners lead advancers by the same margin at the Nasdaq.

    #69952
    Truman
    Participant

    The weekly EIA crude oil inventories showed a build of 1.34 million barrels versus last week’s draw of 5.5 million barrels. WTI crude oil futures turned lower in response, trading flat now at $72.27/bbl after hitting $73.50/bbl earlier.

    S&P 500 energy sector (-1.0%) has extended its loss recently. The materials sector (-0.4%) is another underperformer, along with the health care sector (-0.3%) on this final day of the JPMorgan Healthcare Conference.

    #69962

    Dow 37,695.73 170.57 0.45%
    S&P 500 4,783.45 26.95 0.57%
    Nasdaq 14,969.65 111.94 0.75%
    VIX 12.72 -0.04 -0.31%
    Gold 2,027.50 -5.50 -0.27%
    Oil 71.33 -0.91 -1.26%
    BITCOIN 46,121

    SUPER GREEN finish & FAV GOAT song to add to our playlists 🙂

    #69986

    INFLATION (CPI) was more than expected @ 3.4% year over year
    Some minor selling on Wall Street … MSFT passed APPL as most valuable stock company intraday
    1 thing media doesn’t share well as that PRICE increases from past are here to stay
    I do feel sorry for those on fixed incomes living paycheck-to-paycheck
    COVID + record FED spending are part of why we are in difficult times for many
    Still hoping for a good 2024 ahead – even though GOVT shutdown could impact some early this year?

    OOOOOOHHHHH THE HUMANITY 😉 🙂

    #69997
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note with Japan’s Nikkei (+1.8%) continuing its push to levels not seen in more than 30 years.
    Japan’s Nikkei: +1.8%,
    Hong Kong’s Hang Seng: +1.3%,
    China’s Shanghai Composite: +0.3%,
    India’s Sensex: +0.1%,
    South Korea’s Kospi: -0.1%,
    Australia’s ASX All Ordinaries: +0.4%

    • This reply was modified 3 months ago by Truman.
    #69999
    Truman
    Participant

    Japan’s
    November Leading Index 107.7 (expected 107.9; last 108.9) and Coincident Indicator -1.4% m/m (last 0.2%)
    The Bank of Japan raised its economic assessment for two regions, lowered the assessment for one region, and maintained the view of the remaining six.

    #70000
    Truman
    Participant

    Australia’s
    November trade surplus AUD11.44 bln (expected surplus of AUD7.50 bln; last surplus of AUD7.66 bln). November Imports -7.9% m/m (last -2.9%) and Exports 1.7% m/m (last 0.8%)
    New Zealand’s November Building Consents -10.6%

    #70001
    Truman
    Participant

    South Korea’s
    Exports through the first ten days of January were up 11.2% yr/yr with chip exports rising 25.6%.
    The Bank of Korea left its repurchase rate at 3.50%, as expected, and Governor Rhee said that it is premature to discuss rate cuts.

    #70002
    Truman
    Participant

    China will reportedly step-up anti-corruption efforts in several sectors.

    #70003
    Truman
    Participant

    Major European indices trade on a mostly higher note.
    STOXX Europe 600: +0.2%,
    Germany’s DAX: +0.2%,
    U.K.’s FTSE 100: -0.1%,
    France’s CAC 40: +0.2%,
    Italy’s FTSE MIB: +0.2%,
    Spain’s IBEX 35: +0.3%.

    #70004
    Truman
    Participant

    Italy’s
    November Industrial Production -1.5% m/m (expected -0.2%; last -0.2%); -3.1% yr/yr (last -1.1%)
    Spain’s
    November Industrial Production 0.8% yr/yr (last -1.4%)

    #70005
    Truman
    Participant

    European Central Bank policymaker Schnabel said that it is too early to discuss rate cuts and that there is a high possibility of a soft landing.
    Meanwhile, policymaker Villeroy de Galhau said that the French economy is slowing but is expected to avoid a recession.

    #70006
    Truman
    Participant

    British retailers Tesco and Marks & Spencer observed strength in spending during the Christmas period.

    #70007
    Truman
    Participant

    KB Home (KBH 61.32, -1.88, -3.0%): beats by $0.15, beats on revs, home deliveries decreased 10%, net orders were up 176%

    #70008
    Truman
    Participant

    Occidental Petro (OXY 57.48, +0.68, +1.2%): Warren Buffet increases passive stake; provides summary of Q4 earnings considerations\

    Southwestern Energy (SWN 6.62, -0.27, -3.9%): to merge with Chesapeake Energy (CHK) in all-stock transaction valued at $7.4 billion, or $6.69 per share

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