Traders Market Weekly: Geopolitics and Stormy Weather

Viewing 15 posts - 61 through 75 (of 91 total)
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    Grayscale Bitcoin Trust (GBTC 41.97, +1.47, +3.6%): SEC approves Grayscale Bitcoin Trust to uplist to NYSE Arca as Spot Bitcoin ETF


    Netflix (NLFX 488.27, +9.94, +2.1%): beats shareholder lawsuit, according to Reuters

    Amazon’s (AMZN 154.94, +1.21, +0.8%): Twitch confirmed workforce cuts

    Alphabet’s (GOOG 144.51, +0.71, +0.5%): Google cutting hundreds of jobs, according to NY Times

    Apple (AAPL 187.09, +0.90, +0.5%): named a top tactical trade at Goldman Sachs

    Salesforce (CRM 267.52, +3.39, +1.3%): upgraded to Outperform from Neutral at Robert W. Baird

    Unity Software (U 37.37, +0.24, +0.7%): announces Tomer Bar-Zeev will leave his role as President, Grow, effective immediately; Co confirms departure of the other founders of ironSource


    ChargePoint (CHPT 2.02, +0.08, +4.1%): announces reorganization to improve financial performance, including an approximate 12% reduction in workforce


    Total CPI was up 0.3% month-over-month in December (consensus 0.2%) following an unrevised 0.1% increase in November. Core CPI, which excludes food and energy, was also up 0.3% month-over-month (consensus 0.2%). The shelter index jumped 0.5% and accounted for over half of the monthly increase in total CPI.

    With these December changes, total CPI was up 3.4% year-over-year, versus 3.1% in November, and core CPI was up 3.9% year-over-year, versus 4.0% in November.

    The key takeaway from the report is that inflation, while improved, has lost some of its downward momentum. Therefore, the Fed isn’t likely to be in a rush to cut interest rates — at least not yet based on this latest CPI reading.

    Consumer Inflation in December Rises Most in Three Months


    Initial claims for the week ending January 6 decreased by 1,000 to 202,000 (consensus 209,000). Continuing jobless claims for the week ending December 30 decreased by 34,000 to 1.834 million.

    The key takeaway from the report is the recognition that employers, in general, are still reluctant to cut employees from payrolls. That is a positive consideration as it relates to the outlook for labor and the economy, which means it may not be a positive consideration as it relates to the market’s outlook for rate cuts.

    Treasury yields took a sharp turn higher in response.

    The 2-yr note yield, at 4.32% just before 8:30 ET, sits at 4.38% now, which is two basis points higher than yesterday.
    The 10-yr note yield, at 3.98% just before the data, is at 4.06% now, which is three basis points higher than yesterday.


    Gold futures settled $8.60 lower (-0.4%) to $2,019.20/oz, slinking off overnight gains after this morning’s hotter than expected CPI data.

    The U.S. Dollar Index is up +0.2% to $102.51.


    Dow 37,711.02 15.29 0.04%
    S&P 500 4,780.24 -3.21 -0.07%
    Nasdaq 14,970.19 0.54 0.00%
    VIX 12.46 -0.23 -1.81%
    Gold 2,032.50 4.70 0.23%
    Oil 72.59 1.22 1.71%


    Once winter storm GERRI arrives, we’ll know meaning of this Canadian hit – lol 🙂


    Butterfly Network (BFLY) raised its FY23 revenue guidance earlier today at the 42nd Annual J.P. Morgan Healthcare Conference… BFLY up 3.7%


    Concrete Pumping (BBCP) misses by $0.02, reports revs in-line; guides FY24 revs above consensus… BBCP up 3.9%


    Esperion Therapeutics (ESPR) during presentation expects FY24 operating expenses of $225-245 mln… ESPR up 1.7%


    Polestar Automotive Holding UK PLC (PSNY) reports Q4 deliveries of approximately 12,800; expects Q4 gross margins around breakeven; appoints Per Ansgar as CFO; appoints previous CEO of Volkswagen Group China to Board as a new director… PSNY up 0.5%


    Equity indices in the Asia-Pacific region ended the week on a mixed note while Japan’s Nikkei (+1.5%) displayed continued strength with Fast Retailing rallying after beating quarterly expectations.
    Japan’s Nikkei: +1.5% (+6.6% for the week),
    Hong Kong’s Hang Seng: -0.4% (-1.8% for the week),
    China’s Shanghai Composite: -0.2% (-1.6% for the week),
    India’s Sensex: +1.2% (+0.8% for the week),
    South Korea’s Kospi: -0.6% (-2.1% for the week),
    Australia’s ASX All Ordinaries: -0.1% (+0.2% for the week).


    December CPI 0.1% m/m (expected 0.2%; last -0.5%); -0.3% yr/yr (expected -0.4%; last -0.5%).
    December PPI -2.7% yr/yr (expected -2.6%; last -3.0%).

    China’s trade surplus for December was a bit bigger than expected while CPI and PPI continued deflating on a yr/yr basis.
    December trade surplus $75.34 bln (expected surplus of $74.75 bln; last surplus of $68.39 bln).
    December Imports 0.2% yr/yr (expected 0.3%; last -0.6%) and Exports 2.3% yr/yr (expected 1.7%; last 0.5%).

    December New Loans CNY1.17 trln (expected CNY1.40 trln; last CNY1.09 trln) and total social financing CNY1.94 trln (expected CNY2.20 trln; last CNY2.45 trln)


    November Current Account surplus JPY1.89 trln (expected surplus of JPY2.18 trln; last surplus of JPY2.62 trln).
    December Bank Lending 3.1% yr/yr (expected 2.7%; last 2.8%).
    December Economy Watchers Current Index 50.7 (expected 49.9; last 49.5)

    There was speculation that the Bank of Japan will lower its inflation forecast for FY24 after the recent deceleration in measures.

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