Traders Market Weekly: Debt Ceilings and The Consumer

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    Treasury yields continue to rise.

    The 2-yr note yield is up six basis points to 3.97% and the 10-yr note yield is up six basis points to 3.50%.

    Crude oil is building on its bounce from late last week while the U.S. Dollar Index is down 0.2% at 101.04. The Federal Reserve will release its latest Senior Loan Officer Opinion Survey this afternoon.


    ^^^^ +1s to 2 great posters for insight for coming week (with songs of tribute – lol) 🙂


    RANDY BACHMAN — one of my FAV of FAVs entered pearly gates of Heaven on Friday MAY 5th


    Dow 33,618.55 -55.83 -0.17%
    S&P 500 4,138.12 1.87 0.05%
    Nasdaq 12,256.92 21.50 0.18%
    VIX 16.97 -0.22 -1.28%
    Gold 2,028.80 4.00 0.20%
    Oil 72.82 1.48 2.07%

    BTO – you’re one of G.O.A.T.s .. RIP to Randy
    esp. play #3 “Let it ROLL” (as best all time live auditions below & “Looking out for #1 is an all-time best vocal above 🙂


    Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note.

    Japan’s Nikkei: +1.0%,
    Hong Kong’s Hang Seng: -2.1%,
    China’s Shanghai Composite: -1.1%,
    India’s Sensex: UNCH,
    South Korea’s Kospi: -0.1%,
    Australia’s ASX All Ordinaries: -0.2%.


    China reported a larger than expected trade surplus for April, though imports decreased more than expected.

    China’s April trade surplus $90.21 bln (expected surplus of $71.60 bln; last surplus of $88.19 bln). April Imports -7.9% yr/yr (expected -5.0%; last -1.4%) and Exports 8.5% yr/yr (expected 8.0%; last 14.8%)


    Japan’s March Average Cash Earnings 0.8% yr/yr (last 0.8%). March Household Spending -0.8% m/m (expected 1.5%; last -2.4%); -1.9% yr/yr (expected 0.4%; last 1.6%)


    Australia’s March Retail Sales 0.4% m/m, as expected (last 0.2%)

    Australia is on track to record its first budget surplus in 15 years in its FY22/23 budget.


    New Zealand’s April Electronic Card Retail Sales 0.7% m/m (expected -0.2%; last 0.7%); 6.4% yr/yr (expected 8.6%; last 15.5%)


    G7 finance ministers and central bankers are expected to announce a plan for dealing with bank runs during their three-day meeting that will begin on Thursday in Japan.


    Major European indices trade in the red.

    STOXX Europe 600: -0.7%,
    Germany’s DAX: -0.3%,
    U.K.’s FTSE 100: -0.5%,
    France’s CAC 40: -1.0%,
    Italy’s FTSE MIB: -0.7%,
    Spain’s IBEX 35: -0.9%.


    U.K.’s April Halifax House Price Index -0.3% m/m (expected 0.2%; last 0.8%); 0.1% yr/yr (expected 1.7%; last 1.6%)


    France’s March trade deficit EUR8.00 bln (expected deficit of EUR9.30 bln; last deficit of EUR9.30 bln). March Current Account surplus EUR1.40 bln (expected deficit of EUR3.30 bln; last deficit of EUR1.50 bln)

    French Finance Minister Le Maire said that power price caps will be phased out by the end of 2024.

    Fertilizer manufacturer K+S lowered its guidance due to lower than expected prices in the agriculture segment.


    Some European Central Bank policymakers have speculated that the tightening cycle could continue until September.

    UBS presented its new operating model and announced changes to its management team.


    PayPal (PYPL 71.30, -4.22, -5.6%): beats by $0.07, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY23 EPS above consensus
    Skyworks (SWKS 95.35, -9.89, -9.4%): misses by $0.01, reports revs in-line; guides Q3 EPS below consensus, revs below consensu
    Palantir Technologies (PLTR 8.97, +1.25, +16.2%): beats by $0.01, beats on revs; guides Q2 revs below consensus; guides FY23 revs in-line
    Wayfair (W 36.60, -3.37, -8.4%): announces proposed offering of $600 million convertible senior notes
    Lucid Group (LCID 6.85, -0.86, -11.2%): misses by $0.02, misses on revs; says it expects to have enough liquidity to fund the company through at least Q2 2024
    McKesson (MCK 383.00, +14.44, +3.9%): beats by $0.06, beats on revs; mid-point of FY24 EPS guidance is above consensus
    DaVita (DVA 94.76, +5.55, +6.2%): beats by $0.03, beats on revs; raises FY23 EPS and free cash flow guidance

Viewing 15 posts - 16 through 30 (of 85 total)
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