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Sight Sciences (SGHT) guides Q3 revs below consensus; lowers FY23 revenue outlook; sees reductions in new account additions…
SGHT down 25.0%Equity indices in the Asia-Pacific region ended Tuesday on a mixed note.
Property names in Hong Kong outperformed after Country Garden announced the restructuring of some of its debt.
—Equity Markets—
Japan’s Nikkei: +1.0%
Hong Kong’s Hang Seng: -0.4%
China’s Shanghai Composite: -0.2%
India’s Sensex: +0.1%
South Korea’s Kospi: -0.8%
Australia’s ASX All Ordinaries: +0.2%Japanese officials pushed back on yesterday’s interpretation of Bank of Japan Governor Ueda’s remarks, stressing that there is only a chance of exiting the negative rate regime this year.
South Korea’s President Yoon will look to organize a summit with Japan and China.
Australia’s September Westpac Consumer Sentiment -1.5% (last -0.4%). August NAB Business Confidence 2 (last 1) and Business Survey 13 (last 11)
New Zealand’s August Electronic Card Retail Sales 0.7% m/m (last 0.0%); 3.7% yr/yr (last 2.2%). July Visitor Arrivals 19.8% m/m (last 11.3%)
Apple (AAPL 179.79, +0.43, +0.2%): expected to launch the new iPhone at its annual hardware refresher starting at 1:00 p.m.
Major European indices trade near their flat lines while Spain’s IBEX (+0.6%) and the U.K.’s FTSE (+0.5%) outperform.
—Equity Markets—
STOXX Europe 600: +0.1%
Germany’s DAX: -0.3%
U.K.’s FTSE 100: +0.5%
France’s CAC 40: -0.1%
Italy’s FTSE MIB: UNCH
Spain’s IBEX 35: +0.6%Pensions in the U.K. will increase by 8.5% in April.
There is a growing sense that the Bank of England will refrain from announcing another rate hike at its next policy meeting even though policymaker Mann said that overtightening is easier to rectify than not moving.U.K.’s July three-month Employment Change -207,000 (expected -185,000; last -66,000), Average Earnings Index + Bonus 8.5% yr/yr (expected 8.2%; last 8.4%), and Unemployment Rate 4.3%, as expected (last 4.2%). August Claimant Count 900 (expected 17,100; last 7,400)
Eurozone’s September ZEW Economic Sentiment -8.9 (expected -6.2; last -5.5)
Germany’s September ZEW Economic Sentiment -11.4 (expected -15.0; last -12.3)
ZEW Current Conditions -79.4 (expected -75.0; last -71.3).
August WPI 0.2% m/m (expected -0.1%; last -0.2%); -2.7% yr/yr (last -2.8%)Spain’s August CPI 0.5% m/m, as expected (last 0.2%); 2.6% yr/yr, as expected (last 2.3%)
WestRock (WRK 36.00, +1.94, +5.7%): and Smurfit Kappa (SMFKY) announce transaction to create a global leader in sustainable packaging
CVS (CVS 69.12, +0.37, +0.5%): upgraded to Outperform from Peer Perform at Wolfe Research
Enphase Energy (ENPH 120.48, -1.71, -1.4%): downgraded to Hold from Buy at Truist
S&P futures vs fair value: -16.80. Nasdaq futures vs fair value: -45.00.
Equity futures are slipping after yesterday’s higher finish. A big loss in Oracle (ORCL) following its disappointing guidance is weighing down the broader market.
There’s also some hesitation in play as market participants look ahead to the August Consumer Price Index tomorrow.
Rising oil prices are an overhang for the broader market. WTI crude oil futures are up 0.9% to $88.09/bbl.
2-yr note yield is unchanged at 4.99%
10-yr note yield is unchanged at 4.28%.Today’s economic data was limited to the August NFIB Small Business Optimism survey, which declined to 91.3 from 91.9.
Dow 34,645.99 -17.73 -0.05%
S&P 500 4,461.90 -25.56 -0.57%
Nasdaq 13,773.61 -144.28 -1.04%
VIX 14.23 0.43 3.12%
Gold 1,936.10 -11.10 -0.57%
Oil 88.78 1.49 1.71%One bad APPL (lol) doesn’t spoil whole bunch 🙂
INFLATION was HOT due to rising GAS/OIL prices … August’s Consumer Price Index report showed a bigger-than-expected jump in inflation last month, with headline prices rising 0.6% month to month and 3.7% on an annual basis.
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