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January 2 – 8 2022 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Well, Hello
[See the full post at: Traders Market Weekly: Hello There 2022]GOOD MORNING & WISH GREAT / SAFE WEEK AHEAD TO ALL
Ohhhhh the SNOW-MANITY … as deer infested fields are getting hammered
WALL STREET futures slightly higher — as we start new 2022 trading year 🙂
Market Updates:
S&P Futures vs Fair Value: +27
10 yr Note: 1.51%
USD/JPY: 115.15 +0.07
EUR/USD: 1.1357 -0.00011
Europe: FTSE closed DAX +0.7% CAC +0.9%
Asia: Hang Seng -0.5% Shanghai CLOSED Nikkei: CLOSED
Gold (1826.80 -1.20) Silver (23.30 -0.06) Crude (76.29 +1.08)Gapping up
M&A news:
ESCA +3% (to purchase the assets of the Brunswick Billiards business from Life Fitness, LLC, a portfolio company of KPS Capital Partners, LP)
RPAY +1.2% (acquired Payix for up to $115 mln)Other news:
TSLA +7% (reports Q4 deliveries +71% yr/yr to 308,000 vehicles)
GILT +5.2% (announced that one of the world’s largest Mobile Network Operators (MNOs) will deploy 4G cellular backhaul over satellite technology)
HOLI +3.3% (CEO resignation)
SPRO +3.1% (announces FDA acceptance and priority review of new drug application for tebipenem hbr for the treatment of complicated urinary tract infections including pyelonephritis)
LI +3% (Announced that the Company delivered 14,087 Li ONEs in December 2021, representing a 130.0% increase yr/yr)
NIO +2.3% (provides December and Q4 delivery update)
XPEV +2.1% (reports 16,000 vehicles delivered in December 2021, a 181% increase yr/yr)
MLCO +1.5% (reported December gross revs +1.8 yr/yr to HKD 7.962 bln versus +0.1% in November of 2021)
NMRK +1% (announces agreement with leading commercial real estate services group in Poland)Analyst comments:
WOLF +4.7% (upgraded to Overweight from Neutral at Piper Sandler)
IIVI +3.8% (upgraded to Outperform from Mkt Perform at Raymond James)
SE +2.6% (upgraded to Buy from Neutral at BofA)
RKT +2.1% (upgraded to Neutral from Underperform at Wedbush)
BXP +1.5% (upgraded to Buy from Hold at Deutsche Bank)Futures trading higher as 2022 begins
Futures market ringing in new year with bullish bias
New inflows expected on first trading day of month
Market still not worried about prolonged economic impact of Omicron variant
Democratic leaders trying to re-work Build Back Better Act
TSLA surging on better than expected deliveries data
T and VZ up after telling FAA they won’t delay 5G rollout
Ratings changes for BXP, MCD, PYPL, WFC, CHTR, CAKE, EXC, MMC, and USB
Oil futures up modestly ahead of OPEC+ meeting
Curve-flattening in Treasury market led by front endCoursera (COUR) was named as a top pick in ed-tech at Needham ($45 tgt).
“In our view, 2022 sets up nicely for COUR across all 3 of its business segments. We expect enterprise to benefit from an increased CHRO focus on talent retention and development that is resulting in budget increases. While Coursera benefited from this trend in 2021, we believe newly introduced offerings like Levelsets, Skillsets and Academies will help COUR expand relationships with existing customers. Degrees growth should be bolstered by an increase to 35 live programs from 24, while expansion of GM-accretive pro certs and easing comps creates potential for consumer upside. With the potential for 30%+ growth, we see the shares as valued attractively at an EV/sales multiple of 5.4x our FY22E estimate.”
AT&T (T 25.37, +0.77, +3.1%) and Verizon (VZ 52.46, +0.50, +0.9%) are up 3% and 1%, respectively, after refusing to delay a government request to delay a 5G service that could interfere with aircraft electronics, according to Bloomberg. AT&T recently announced AT&T Fusion® 5G will be released this Friday.
The European major indices close higher today led by the Italian FTSE MIB.
German DAX, +0.86%
France’s CAC, +0.9%
Italy’s FTSE MIB, +1.4%
Spain’s Ibex, +0.54%Market Wrap – Apple Hits Three Trillion, US Dollar Gains Most in Two Months as Yield Jump
We are off and running for 2022. Deja Vu the 4800 on SPX but we blew through $180 on AAPL to trade to $182.88 and get the $3 trillion market cap. Oil and natural gas both bounced. On the speculative end we saw Cryptocurrencies down again. A jump in U.S. Treasury yields helped the dollar post its largest daily gain in nearly two months, Treasury market steepening in the yield curve today driven by selling pressure at the back end. The 10-year yield rise was the largest first day jump since 2009.
Wake-Up Call Briefing
Futures market stays with positive disposition
Major indices slated to start modestly higher
Daily COVID cases in U.S. top 1 million; 7-day average is highest in world
F advances as it plans to double F-150 Lightning production
T and VZ now saying they will delay 5G rollout for two weeks
Rating changes for: BP, KO, FSLR, GE, HAL, HPE, SYK, UAA, WMG, BLL, COLM, FL, HON, JPM, NDAQ, PINS, SHW, TTM, TROW, and ZBH
Oil futures up modestly in front of OPEC+ meeting
10-yr yield climbing toward 1.70% as selling pressure persists
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