Traders Market Weekly: Valuation Matters in Earnings Season

Viewing 15 posts - 31 through 45 (of 56 total)
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    ^^^^ +1s and THANK YOU for excellent market news that cover all the bases
    (including in these crazy times that include Abbot & Costello’s WHO IS ON FIRST 😉 🙂
    DOW is -120 & OIL is at $96 — as FEAR of RECESSION is growing … USA suffering with stagflation or worst


    GameStop Announces Four-For-One Stock Split

    $GME 23.48▲ 6.13 (▲ 5.22%) After Hours (Spat to $129)
    Trading On a Stock Split-Adjusted Basis Starts July 22


    Dow 31,037.68 69.86 0.23%
    S&P 500 3,845.08 13.69 0.36%
    Nasdaq 11,361.85 39.61 0.35%
    GlobalDow 3,444.94 -14.32 -0.41%
    Gold 1,737.20 -26.70 -1.51%
    Oil 98.05 -1.45 -1.46%


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

    The Bank of Japan may lower Japan’s growth forecast for the year while increasing the inflation forecast.
    Press reports speculated that coronavirus restrictions could be reimposed in Tokyo.
    June throughput at Shanghai’s port was down 7.4% yr/yr.
    The Chinese government will consider extending a tax break for purchasing electric vehicles.

    —Equity Markets—

    Japan’s Nikkei: +1.5%
    Hong Kong’s Hang Seng: +0.3%
    China’s Shanghai Composite: +0.3%
    India’s Sensex: +0.8%
    South Korea’s Kospi: +1.8%
    Australia’s ASX All Ordinaries: +0.8%


    Japan’s May Leading Index 101.4 (last 102.9) and Coincident Indicator -1.3% m/m (last 0.0%)
    South Korea’s May Current Account surplus $3.86 bln (last deficit of $80 mln)
    Australia’s June AIG Services Index 48.8 (last 49.2). May trade surplus AUD15.97 bln (expected surplus of AUD10.73 bln; last surplus of AUD10.50 bln). May Imports 6% m/m (last -1%) and Exports 9% m/m (last 1%)


    Major European indices trade in the green.

    British Prime Minister Johnson is expected to announce his resignation as Conservative party leader with a plan to vacate the prime minister post in the fall.
    House prices in the U.K. increased for the 12th consecutive month in June, matching the highest annual pace since 2004.
    France will nationalize electricity provider EDF.

    —Equity Markets—

    STOXX Europe 600: +1.5%
    Germany’s DAX: +1.9%
    U.K.’s FTSE 100: +1.3%
    France’s CAC 40: +1.7%
    Italy’s FTSE MIB: +2.3%
    Spain’s IBEX 35: +1.8%


    Germany’s May Industrial Production 0.2% m/m (expected 0.4%; last 1.3%)
    U.K.’s June Halifax House Price Index 1.8% m/m (last 1.2%); 13.0% yr/yr (last 10.5%)
    Swiss June Unemployment Rate 2.2%, as expected (last 2.2%)


    Merck (MRK 91.70, -1.43, -1.5%): Merck is in advanced talks to buy Seagen, according to WSJ
    Bed Bath & Beyond (BBBY 4.72, +0.25, +5.6%): Bed Bath & Beyond interim CEO Sue Gove purchased 50,000 shares on July 1
    GameStop (GME 123.92, +6.49, +5.5%): GameStop announces 4-for-1 stock split
    Shell (SHEL 48.35, +0.34, +0.7%): Shell plc provides Q2 update; maintains plans for drilling in the Gulf of Mexico
    Virgin Galactic (SPCE 6.73, +0.28, +4.3%): Virgin Galactic announces agreement with Boeing unit to design and manufacture co’s next generation motherships


    The S&P 500 futures are up 13 points and are trading 0.3% above fair value.
    The Nasdaq 100 futures are up 48 points and are trading 0.4% above fair value.
    The Dow Jones Industrial Average futures are up 207 points and are trading 0.7% above fair value.

    A few individual upside movers in premarket action are Bed Bath & Beyond (BBBY 4.75, +0.28, +6.3%) and GameStop (GME 123.83, +6.40, +5.5%). The former is up on news that the interim CEO purchased 50,000 shares while the latter is up after announcing a 4-for-1 stock split.


    The May trade deficit narrowed to $85.50 bln ( consensus -$84.90 bln) from a revised deficit of $86.70 bln (from $87.10 bln) in April.

    The key takeaway from the report is that the deficit with China decreased by $2.8 bln to $32.2 bln, though this was largely due to reduced manufacturing activity as China implemented coronavirus lockdowns.

    Exports were $255.9 bln, $3.0 bln more than April exports. May imports were $341.4 bln, $1.9 bln more than April imports.
    Exports of industrial supplies and materials increased by $3.3 bln.
    Exports of foods, feeds, and beverages decreased by $1.6 bln.
    Exports of capital goods decreased by $275 mln.
    Imports of consumer goods decreased by $1.5 bln.
    Imports of industrial supplies and materials increased by $1.8 bln.
    Imports of capital goods decreased by $245 mln.
    The real goods trade deficit increased to $116.6 bln.


    Weekly initial claims for the week ending July 2 increased by 4,000 to 235,000 (consensus 234,000) while continuing claims for the week ending June 25 increased by 51,000 to 1.375 mln.

    The key takeaway from the report is that claims have spent the past few weeks in a narrow range, suggesting little room left for improvement.
    The four-week moving average for initial claims increased by 750 to 232,500.
    The four-week moving average for continuing claims increased by 16,500 to 1,335,000.
    The total number of continued weeks claimed for benefits in all programs for the week ending June 18 was 1,327,839, an increase of 13,570 from the previous week. In the same week a year ago, there were 14,208,913 weekly claims filed for benefits in all programs.


    Dow 31,384.55 346.87 1.12%
    S&P 500 3,902.62 57.54 1.50%
    Nasdaq 11,621.35 259.49 2.28%
    GlobalDow 3,505.90 60.60 1.76%
    Gold 1,738.50 2.00 0.12%
    Oil 102.16 3.63 3.68%

    Hopefully my FAV 74 year old legend will make quick recovery
    after passing out earlier this week in live show
    a few great percussion songs – more cowbell please esp. on last one 🙂


    BEACH BOYS were great composers, musical geniuses, and instrumentalists 🙂


    Good morning … FUTURES are falling with a stronger JOBS report that’s not “FED friendly”
    372,000 jobs were added last month with 3.6% rate … so this means FED has more work ahead
    The mother of all reports is still strong in spite of inflation/oil prices


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

    Japan’s former Prime Minister Abe was assassinated during a campaign speech ahead of this weekend’s upper house elections. The approval rating of South Korea’s President Yoon fell to 37% from 43%, according to Gallup. FT reported that Chinese property developers are facing $13 bln in dollar-denominated bond payments during the second half of this year.

    —Equity Markets—

    Japan’s Nikkei: +0.1% (+2.2% for the week)
    Hong Kong’s Hang Seng: +0.4% (-0.6% for the week)
    China’s Shanghai Composite: -0.3% (-0.9% for the week)
    India’s Sensex: +0.6% (+3.0% for the week)
    South Korea’s Kospi: +0.7% (+2.0% for the week)
    Australia’s ASX All Ordinaries: +0.6% (+2.3% for the week)

Viewing 15 posts - 31 through 45 (of 56 total)
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