Traders Market Weekly: Robots, Dribbler Enthusiasm and Short Squeezes

Viewing 15 posts - 46 through 60 (of 64 total)
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  • #41780
    Truman
    Participant

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

    Japan’s Prime Minister Kishida said that his government will announce more measures to deal with high energy and food prices. Fitch noted that China’s money market fund became the world’s second largest money market fund in Q2, overtaking Europe. New Zealand’s Manufacturing PMI expanded for the 12th consecutive month in July.

    —Equity Markets—

    Japan’s Nikkei: +2.6% (+1.3% for the week)
    Hong Kong’s Hang Seng: +0.5% (-0.1% for the week)
    China’s Shanghai Composite: -0.2% (+1.6% for the week)
    India’s Sensex: +0.2% (+1.8% for the week)
    South Korea’s Kospi: +0.2% (+1.5% for the week)
    Australia’s ASX All Ordinaries: -0.5% (+0.5% for the week)

    #41781
    Truman
    Participant

    Japan’s Prime Minister Kishida said that his government will announce more measures to deal with high energy and food prices. Fitch noted that China’s money market fund became the world’s second largest money market fund in Q2, overtaking Europe.
    New Zealand’s Manufacturing PMI expanded for the 12th consecutive month in July.
    China’s July New Loans CNY679.0 bln (expected CNY1.10 trln; last CNY2.81 trln) and July Total Social Financing CNY756.1 bln (expected CNY1.30 trln; last CNY5.17 trln)
    South Korea’s July Import Price Index 27.9% yr/yr (last 33.6%) and Export Price Index 16.3% yr/yr (last 23.7%)
    Hong Kong’s Q2 GDP 1.0% qtr/qtr (last -0.9%); -1.3% yr/yr (last -1.4%)
    New Zealand’s July FPI 2.1% m/m (last 1.2%) and July Business NZ PMI 52.7 (last 50.0)

    #41782
    Truman
    Participant

    Major European indices trade near their flat lines.

    —Equity Markets—

    STOXX Europe 600: +0.2% (+1.3% week-to-date)
    Germany’s DAX: +0.6% (+1.5% week-to-date)
    U.K.’s FTSE 100: +0.3% (+0.6% week-to-date)
    France’s CAC 40: +0.2% (+1.4% week-to-date)
    Italy’s FTSE MIB: +0.4% (+1.6% week-to-date)
    Spain’s IBEX 35: +0.3% (+2.9% week-to-date)

    #41783
    Truman
    Participant

    Germany’s economy ministry expects the country’s economy to worsen in the second half due to lower gas deliveries, higher energy prices, and continued supply chain issues.
    Drought conditions have been declared across half of England.
    CPI readings from France and Spain increased at their fastest yr/yr rates since 1985.
    Eurozone’s June Industrial Production 0.7% m/m (expected 0.2%; last 2.1%); 2.4% yr/yr (expected 0.8%; last 1.6%)
    U.K.’s Q2 GDP -0.1% qtr/qtr (expected -0.2%; last 0.8%); 2.9% yr/yr (expected 2.8%; last 8.7%). Q2 Business Investment 3.8% qtr/qtr (expected -0.3%; last -0.6%); 5.0% yr/yr (last 8.3%). June Industrial Production -0.9% m/m (expected -1.3%; last 1.3%); 2.4% yr/yr (expected 1.6%; last 1.8%). June Manufacturing Production -1.6% m/m (expected -1.8%; last 1.7%); 1.3% yr/yr (expected 0.9%; last 2.6%). June Construction Output -1.4% m/m (expected -1.5%; last 1.8%); 4.1% yr/yr (expected 3.3%; last 4.9%)
    France’s July CPI 0.3% m/m, as expected (last 0.8%); 6.1% yr/yr, as expected (last 5.8%). Q2 Unemployment Rate 7.4% (expected 7.3%; last 7.3%)
    Italy’s June trade deficit EUR2.166 bln (expected surplus of EUR350 mln; last deficit of EUR62 mln)
    Spain’s July CPI -0.3% m/m (expected -0.2%; last 1.9%); 10.8% yr/yr, as expected (last 10.2%)

    #41784
    Truman
    Participant

    The S&P 500 futures are up 25 points and are trading 0.6% above fair value.
    The Nasdaq 100 futures are up 99 points and are 0.6% above fair value.
    The Dow Jones Industrial Average futures are up 164 points and are trading 0.6% above fair value.

    #41785
    Truman
    Participant

    Illumina (ILMN 195.62, -31.82, -14.0%) and Olo Inc. (OLO 9.05, -3.94, -30.3%) are both down big in premarket action after reporting earnings since yesterday’s close.

    #41786
    Truman
    Participant

    Import-Export Price Index for July was released earlier. It followed suit with the CPI and PPI reports, which pointed to a possible peak in inflation. Nonfuel imports were down 0.5% month-over-month, leaving them up 4.1% year-over-year versus 6.3% for the 12-month period ending in July 2021. Non-agricultural exports were down 3.3% month-over-month, leaving them up 13.1% year-over-year versus 15.6% for the 12-month period ending in July 2021.

    #41787
    Truman
    Participant

    Toast (TOST 20.51, +2.36, +13.00%): beats by $0.01, beats on revs; guides Q3 revs above consensus; raises FY22 revs guidance above consensus
    Illumina (ILMN 193.55, -33.89, -14.90%): misses by $0.07, misses on revs; cuts FY22 EPS, revs expectations
    Rivian Automotive (RIVN 38.64, -0.31, -0.80%): beats by $0.01, beats on revs, reports R1 preorder backlog of 98,000 vehicles; Reaffirms 2022 production target of 25K vehicles, lowers capital expenditure guidance
    Olo Inc. (OLO 8.77, -4.22, -32.49%): beats by $0.01, reports revs in-line; guides Q3 revs below consensus; lowers FY22 revs below consensus
    Payoneer (PAYO 6.79, +1.11, +19.54%): beats by $0.07, beats on revs; guides FY22 revs above consensus
    Alibaba (BABA 92.07, -2.80, -2.95%): Lower in response to news that several Chinese companies announced plans to delist at the NYSE.

    #41788
    Truman
    Participant

    There is weakness in a number of Chinese ADRs following the news that several companies, China Life Insurance (LFC), PetroChina (PTR), China Petroleum (Sinopec) (SNP), Alum. Corp China (ACH), and Shanghai Petrochemical (SHI), plan to delist at the NYSE.

    #41789
    Truman
    Participant

    The CDC issued new guidelines that remove the quarantine recommendation for people exposed to Covid-19.

    #41790
    Truman
    Participant

    Gold futures settled $8.30 higher (+0.5%) to $1,815.50/oz, finishing up about +1.4% this week to extend its weekly winning streak to four.

    Meanwhile, the U.S. Dollar Index is up now approx. +0.5% to $105.66.

    #41791
    Truman
    Participant

    BTIG technical analyst, Jonathan Krinsky, teased that view last week on CNBC saying,

    “Since 1950 there has never been a bear market rally that exceeded the 50% retracement and then gone on to make new cycle lows.”

    #41792
    Truman
    Participant

    August Univ. of Michigan Consumer Sentiment – Prelim 55.1 (consensus 52.1); Prior 51.5
    The key takeaway from the report is that consumers’ inflation expectations were little changed, dipping to 5.0% from 5.2% for the year ahead (but above 4.6% seen a year ago) and edging up to 3.00% from 2.9% for the five-year outlook.
    July import prices fell 1.4% after the revised increase of 0.3% in May (from 0.2%).
    Import prices, excluding oil, fell 0.5% after the revised decrease of 0.6% in May (from -0.5%). Export prices fell 3.3% after the 0.7% increase in May. Export prices, excluding agriculture, fell 3.3% after a revised 0.8% increase in May (from 0.9%)

    #41793
    Truman
    Participant

    U.S. Treasuries continue trading in mixed fashion, having seen limited movement since mid-morning action. The 10-yr note and the 30-yr bond continue trading near their opening levels while shorter tenors are closer to their lows.

    Barring a volatile finish, the 2-yr yield is on track to increase by a basis point for the week while the 10-yr yield is currently up two basis points for the week. The 30-yr yield has increased by six basis points this week. Equities remain in the green with the S&P 500 (+1.0%) on track to gain 2.5% for the week.

    2-yr: +5 bps to 3.24%
    3-yr: +1 bp to 3.20%
    5-yr: UNCH at 2.99%
    10-yr: -3 bps to 2.86%
    30-yr: -4 bps to 3.13%

    #41794
    Truman
    Participant

    Fortuna Silver Mines (FSM) misses by $0.06; beats on revs
    Golar LNG (GLNG) reports Q2 results; misses on revs
    Pan Am Silver (PASS) misses by $0.17, misses on revs
    Sonos (SONO) misses by $0.02, misses on revs; lowers FY22 revs below consensus; CFO stepping down for another opportunity

Viewing 15 posts - 46 through 60 (of 64 total)
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