Traders Market Weekly: Naive Markets and The Fed Fortune Tellers

Viewing 15 posts - 61 through 75 (of 102 total)
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  • #65725
    Truman
    Participant

    Splunk (SPLK halted): Cisco (CSCO) to acquire Splunk for $157 per share in cash, representing approximately $28 billion in equity value

    #65726
    Truman
    Participant

    Broadcom (AVGO 771.76, -58.81, -7.1%): Alphabet (GOOG) looking to replace Broadcom chips with Marvell, according to The Information

    #65727
    Truman
    Participant

    Five9 (FIVN 67.36, +0.94, +1.4%): upgraded to Buy from Hold at Deutsche Bank

    #65728
    Truman
    Participant

    Warner Bros. Discovery (WBD 11.57, +0.07, +0.6%) and Paramount Global (PARA 13.40, +0.16, +1.2%): Hollywood writers and studios close to reaching agreement, according to CNBC

    #65729
    Truman
    Participant

    Initial claims for the week ending September 16 declined by 20,000 to just 201,000 (consensus 225,000), hitting their lowest level since January. Continuing jobless claims for the week ending September 9 decreased by 21,000 to 1.662 million.

    The key takeaway from the report is that the low level of initial claims shows that the labor market is still operating in a tight mode, which is going to remain a basis for the Fed to keep operating with a restrictive interest rate mindset.

    #65730
    Truman
    Participant

    Philadelphia Fed Index dropped to -13.5 in September (consensus -2.0) from 12.0 in August with the index for new orders checking in at -10.2 versus 16.0 in August. The dividing line between expansion and contraction is 0.0. Something else that stands out in this report is that the indexes for prices paid (to 25.7 from 20.8) and prices received (to 14.8 from 14.1) both increased month-over-month.

    #65731
    Truman
    Participant

    The Q2 Current Account Balance deficit narrowed to $212.1 billion (-$222.0 billion) from an upwardly revised -$214.5 billion (from -$219.3 billion) in Q1.

    #65732
    Truman
    Participant

    Treasury yields pulled back from overnight highs.

    The 10-yr note yield, which hit 4.49% earlier, is up ten basis points from yesterday at 4.47%.
    The 2-yr note yield, at 5.20% earlier, is down one basis point to 5.16%.

    #65733
    Truman
    Participant

    S&P futures vs fair value: -36.00. Nasdaq futures vs fair value: -187.00.

    The S&P 500 futures are down 36 points and are trading 0.8% below fair value.
    The Nasdaq 100 futures are down 187 points and are trading 1.2% below fair value.
    The Dow Jones Industrial Average futures are down 175 points and are trading 0.5% below fair value.

    #65734
    Truman
    Participant

    Existing home sales decreased 0.7% month-over-month in August to a seasonally adjusted annual rate of 4.04 million (consensus 4.10 million) from an unrevised 4.07 million in July. Sales were down 15.3% from the same period a year ago.

    The key takeaway from the report is that existing home sales continue to be crimped by a confluence of factors: higher mortgage rates and higher prices that are hurting affordability; limited supply; a lack of mobility due to remote work opportunities; and disinterest in moving by existing homeowners who are reluctant to give up a low-rate mortgage for a higher-rate mortgage.

    #65735
    Truman
    Participant

    Leading Indicators fell 0.4% in August (consensus -0.4%) following a revised 0.3% decline in July (from -0.4%).

    #65736
    Truman
    Participant

    -137.89 at 34303.49, Nasdaq -157.56 at 13311.57, S&P -40.21 at 4362.07

    The major indices have moved off their lows, but remain in the red.
    The A-D line decidedly negative with decliners leading advancers by an 11-to-2 margin at the NYSE and a nearly 3-to-1 margin at the Nasdaq.

    Today’s trade started on a downbeat note following the latest updates from the Fed that suggested rates will remain higher for longer. The major indices trade near their worst levels of the morning.

    Weak mega cap stocks are pacing broad based losses. The Vanguard Mega Cap Growth ETF (MGK) is down 1.5% and the market-cap weighted S&P 500 is down 1.0%.

    All 11 S&P 500 sectors are in negative territory with losses ranging from 0.1% (energy) to 2.1% (consumer discretionary).

    #65756

    ^^^^^ +1s for excellent updates & insight — this daily feed alone helps in cautiously investing – lol
    The BEARS are prowling on WALL ST as K STREET must get acts together
    Hopefully USA & unions can avoid worst ahead by compromising & working thru all finanacial issues
    God bless the USA 🙂

    #65757

    Dow 34,070.42 -370.46 -1.08%
    S&P 500 4,330.00 -72.20 -1.64%
    Nasdaq 13,223.98 -245.14 -1.82%
    VIX 16.96 1.82 12.02%
    Gold 1,940.10 -27.00 -1.37%
    Oil 89.56 -0.10 -0.11%

    #65784
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended the week on a mostly higher note.

    Japan’s Nikkei: -0.5% (-3.4% for the week),
    Hong Kong’s Hang Seng: +2.3% (-0.7% for the week),
    China’s Shanghai Composite: +1.6% (+0.5% for the week),
    India’s Sensex: -0.3% (-2.7% for the week),
    South Korea’s Kospi: -0.3% (-3.6% for the week),
    Australia’s ASX All Ordinaries: +0.1% (-2.8% for the week).

Viewing 15 posts - 61 through 75 (of 102 total)
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