Traders Market Weekly: Robots, Dribbler Enthusiasm and Short Squeezes

Viewing 15 posts - 31 through 45 (of 64 total)
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    Japan’s ministers for finance and economy will maintain their posts after the ongoing cabinet reshuffle.
    Australia is reportedly reviewing its current anti-dumping measures for imports of aluminum from China.
    Meanwhile, China’s Ambassador to Australia said that the two sides are not yet ready to discuss solutions to trade issues.
    Direct flights between China and the U.K. are set to resume. Japan’s Nikkei will be closed for Mountain Day tomorrow.
    China’s July CPI 0.5% m/m, as expected; 2.7% yr/yr (expected 2.9%; last 2.5%); July PPI 4.2% yr/yr (expected 4.8%; last 6.1%)
    Japan’s July PPI 0.4% m/m, as expected (last 0.9%); 8.6% yr/yr (expected 8.4%; last 9.4%)
    South Korea’s July Unemployment Rate 2.9% (last 2.9%)


    Major European indices trade near their flat lines.

    —Equity Markets—

    STOXX Europe 600: +0.7%
    Germany’s DAX: +1.2%
    U.K.’s FTSE 100: +0.3%
    France’s CAC 40: +0.8%
    Italy’s FTSE MIB: +1.4%
    Spain’s IBEX 35: +0.6%


    Germany’s Finance Ministry announced that the base tax-free allowance and tax brackets will be lifted, reducing next year’s tax revenue by about EUR10 bln.
    A labor strike will take place at the U.K.’s largest container port between August 21 and 29 after contract talks broke down.
    There is a growing concern that low water level in the Rhine near Frankfurt will prevent cargo ships from passing.
    Germany’s July CPI 0.9% m/m, as expected (last 0.1%); 7.5% yr/yr, as expected (last 7.6%)
    Italy’s July CPI 0.4% m/m, as expected (last 1.2%); 7.9% yr/yr, as expected (last 8.0%)


    Today’s buying has been broad-based to this point in the session with the mega caps, growth stocks, and cyclical sectors leading the charge. The Vanguard Mega Cap Growth ETF (MGK) is up 2.5% versus a 2.1% gain in the Invesco S&P 500 Equal Weight ETF (RSP) and a 1.9% gain in the S&P 500. The Russell 3000 Growth Index (+2.3%) is outpacing the Russell 3000 Value Index (+1.7%).

    Semiconductors are having a strong showing after selling off sharply recently. The PHLX Semiconductor Index is up 3.3% with nearly every component in the green.

    Countercyclical sectors are lagging with utilities (-0.2%), consumer staples (+0.6%), and health care (+0.6%) trailing the broader market. Energy (+0.9%) is another relative underperformer but has improved during the session as oil prices have rebounded above $91.00/bbl.


    Dow 33,309.45 535.04 1.63%
    S&P 500 4,210.12 87.65 2.13%
    Nasdaq 12,854.80 360.88 2.89%
    GlobalDow 3,697.39 55.37 1.52%
    Gold 1,806.00 -6.30 -0.35%
    Oil 91.58 0.82


    AppLovin (APP) misses by $0.20, misses on revs; lowers FY22 revs guidance below consensus… APP down 9.9%
    Bumble Inc. (BMBL) misses by $0.13, reports revs in-line; guides Q3 revs below consensus; guides FY22 revs below consensus… BMBL down 11.6%
    Red Robin Gourmet (RRGB) misses by $0.59, misses on revs… RRGB down 15.0%
    Matterport (MTTR) beats by $0.02, misses on revs; guides Q3 EPS in-line, revs above consensus; guides FY22 EPS in-line, revs above consensus… MTTR up 13.7%
    Traeger (COOK) reports EPS in-line, misses on revs; cuts FY22 revs guidance… COOK down 8.7%
    Vacasa (VCSA) beats by $0.20, beats on revs; guides Q3 revs in-line; guides FY22 revs above consensus; continues to expect Adjusted EBITDA profitability for FY23… VCSA up 30.3%
    Walt Disney (DIS) beats by $0.10, beats on revs; Disney+ subscriptions increased 31% to 152.1 mln, operating loss in DTC segment increased by $800 mln; discusses sports betting on the call: has been in conversations for awhile with different platforms to add some utility to sports betting; hopes to have something to announce in the future in terms of a partnership… DI up 6.5%


    Equity indices in the Asia-Pacific region ended Thursday on a higher note while Japan’s Nikkei was closed for Mountain Day.

    Japan’s Nikkei: CLOSED,
    Hong Kong’s Hang Seng: +2.4%,
    China’s Shanghai Composite: +1.6%,
    India’s Sensex: +0.9%,
    South Korea’s Kospi: +1.7%,
    Australia’s ASX All Ordinaries: +1.2%.


    Singapore’s Q2 GDP -1.0% qtr/qtr (expected 0.0%; last 0.8%); 4.4% yr/yr (expected 4.8%; last 3.8%)
    Australia’s MI Inflation Expectations 5.9% (last 6.3%)
    New Zealand’s June External Migration & Visitors 83.5% yr/yr (last 26.3%)
    The White House is reportedly postponing its plan to remove some tariffs on imports from China.
    The approval rating of Japan’s Prime Minister Kishida rose after the cabinet reshuffle.
    Honda Motor raised its operating profit guidance and said that it expects the chip shortage to continue through the end of the fiscal year. South Korea’s exports through the first ten days of August were up 23.2% yr/yr while chip exports were down 5.1%.


    Major European indices trade in mixed fashion.

    STOXX Europe 600: UNCH,
    Germany’s DAX: UNCH,
    U.K.’s FTSE 100: -0.4%,
    France’s CAC 40: -0.2%,
    Italy’s FTSE MIB: +0.4%,
    Spain’s IBEX 35: +0.6%.


    Bank of England Chief Economist Pill said that wages in the U.K. are growing too fast at this time.
    Siemens reported a Q3 loss and lowered its guidance for the year.
    London’s Heathrow expects that 16 mln passengers will pass through the airport in Q3.
    German Chancellor Scholz claimed that military aid for Ukraine will continue.


    The S&P 500 futures are up 16 points and are trading 0.4% above fair value.
    The Nasdaq 100 futures are up 47 points and are 0.2% above fair value.
    The Dow Jones Industrial Average futures are up 142 points and are trading 0.6% above fair value


    Walt Disney (DIS 122.19, +9.76, +8.68%): beats by $0.10, beats on revs; Disney+ subscriptions increased 31% to 152.1 mln, operating loss in DTC segment increased by $800 mln; will launch ad-supported Disney+ subscription in U.S. on Dec. 8; company also ups prices for no-ads options
    Cardinal Health (CAH 60.28, -2.47, -3.94%): misses by $0.13, beats on revs; narrows FY22 guidance
    Six Flags (SIX 22.52, -3.29, -12.75%): misses by $0.50, misses on revs
    Dillard’s (DDS 294.99, +46.43 ,+18.68%): beats by $6.42, beats on revs; comparable store sales flat
    Lowe’s (LOW 198.51, -2.92, -1.45%): downgraded to Neutral from Buy at Citigroup
    Sonos (SONO 18.81, -3.96, -17.39%): misses by $0.02, misses on revs; lowers FY22 revs below consensus; CFO stepping down for another opportunity
    Bumble Inc. (BMBL 31.41, -3.08, -8.93%): misses by $0.13, reports revs in-line; guides Q3 revs below consensus; guides FY22 revs below consensus
    AppLovin (APP 37.43, -3.03, -7.49%): misses by $0.20, misses on revs; lowers FY22 revs guidance below consensus
    Dutch Bros (BROS 45.75, +1.74, +3.95%): misses by $0.02, beats on revs, comps -3.3%; reaffirms FY22 revs and comps guidance


    U.S. Treasuries in the belly of the curve are set for a modestly higher start while the long bond is expected to show early relative weakness after underperforming yesterday.

    Treasury futures dipped last evening, hitting lows during the early portion of the Asian session. The market recovered a portion of the losses in short order, continuing its rebound into early morning trade.

    The market will receive more inflation-related data in the form of July PPI at 8:30 ET while the U.S. Treasury will sell $21 bln in 30-yr bonds.

    The U.S. Dollar Index is down 0.2% at 105.02.

    2-yr: -4 bps to 3.15%
    3-yr: -6 bps to 3.08%
    5-yr: -6 bps to 2.86%
    10-yr: -5 bps to 2.74%


    That’s A Wrap
    Dow 33338.55 +27.16 (0.08%)
    Nasdaq 12779.87 -74.89 (-0.58%)
    SP500 4207.34 -2.97 (-0.07%)
    Gold futures -$6.50 -0.4% to $1,807.20/oz
    WTI crude #oil futures +2.7% at $94.33/bbl


    And good FRIDAY afternoon to all … MARKETS are SUPER-GREEN 🙂
    as #46 noted we had ZERO INFLATION in July – lol
    although he was correct in the 8.5% peaking & stabilizing hopefully
    and 8.5% is still too high & hopeful of further improvements ahead

Viewing 15 posts - 31 through 45 (of 64 total)
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