Traders Market Weekly: Impact of Global Risk Off Deleveraging

Viewing 15 posts - 16 through 30 (of 73 total)
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    Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.

    Japan’s Nikkei: +0.6 %,
    Hong Kong’s Hang Seng: UNCH,
    China’s Shanghai Composite: +0.1%,
    India’s Sensex: +0.2%,
    South Korea’s Kospi: -0.7%,
    Australia’s ASX All Ordinaries: -0.7%.

    Property names listed in Hong Kong rebounded amid ongoing speculation about more incoming support from the


    Australia’s Q2 GDP 0.4% qtr/qtr (expected 0.3%; last 0.4%); 2.1% yr/yr (expected 1.8%; last 2.4%).
    August AIG Construction Index -9.9 (last -9.2) and Manufacturing Index -19.8 (last -25.6)

    Australia’s New South Wales will raise its coal mining royalties by 2.6% next year, representing the first increase in 15 years.


    New Zealand’s GDT Price Index 2.7% (last -7.4%)

    Securities Times called on the Chinese government to lift “unnecessary” limits on home purchases.

    Bank of Japan policymaker Takata said that there are early signs of the 2.0% inflation target being reached, but easy policy stance should be maintained at this time.


    Major European indices trade in the red.

    STOXX Europe 600: -0.7%,
    Germany’s DAX: -0.5%,
    U.K.’s FTSE 100: -0.7%,
    France’s CAC 40: -0.8%,
    Italy’s FTSE MIB: -1.0%,
    Spain’s IBEX 35: -0.8%


    Eurozone’s July Retail Sales -0.2% m/m (expected -0.1%; last 0.2%); -1.0% yr/yr (expected -1.2%; last -1.0%)
    European Central Bank policymaker Knot said that markets may be underestimating the likelihood of a rate hike at the September meeting, adding that the decision could be a “close call.”
    Policymaker Villeroy de Galhau said that while the economy is slowing down, there is still no recession on the horizon and lowering inflation should remain the priority.

    Germany’s July Factory Orders -11.7% m/m (expected -4.0%; last 7.6%)
    German Chancellor Scholz said that his country’s budget should return to “normality” in 2024.

    U.K.’s August Construction PMI 50.8 (expected 50.5; last 51.7)


    Toast (TOST 22.70, +1.03, +4.8%): upgraded to Buy from Neutral at UBS
    Constellation Brands (STZ 260.27, +2.77, +1.1%): upgraded to Outperform from market perform at TD Cowen
    Block (SQ 57.15, -1.59, -2.7%): downgraded to Neutral from Buy at UBS


    Roku (ROKU 94.07, +10.34, +12.4%): sees Q3 revs above consensus; to reduce workforce by 10%


    Enbridge (ENB 32.76, -2.53, -7.2%): acquires three U.S.-based utilities from Dominion Energy (D) for an aggregate purchase price of $14.0 bln; to be accretive to adjusted EPS in first full-year of ownershiphare in cash


    Zscaler (ZS 160.10, -2.64, -1.6%): beats by $0.15, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus
    HealthEquity (HQY 68.11, +1.27, +1.9%): beats by $0.05, beats on revs; guides FY24 EPS above consensus, revs in-line
    GitLab (GTLB 52.89, +3.15, +6.3%): beats by $0.04, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus
    AeroVironment (AVAV 110.68, +15.39, +16.2%): beats by $0.74, beats on revs; reaffirms FY24 EPS guidance, raises FY24 revenue guidance


    Southwest Air (LUV 29.35, -1.42, -4.6%): updates Q3 guidance metrics; sees Q3 RASM of down 5-7% versus prior guidance down 3-7%


    NextGen Healthcare (NXGN 23.49, +2.94, +14.3%): enters into definitive agreement to be acquired by Thoma Bravo for $23.95/share in cash


    Stock futures indicate a lower open, pressured by several airlines warning about rising jet fuel costs, concerns about a slowdown in discretionary spending due to high gas prices, and festering worries about rising interest rates.

    The 2-yr note yield is down two basis points to 4.94% and the 10-yr note yield is down two basis points to 4.24%.

    Helmholtz Watson

    Fed’s Susan Collins
    Fed should ‘allow time’ when making monetary policy choices
    Too soon to say inflation sustainably moving back back to target
    Fed must balance lowering inflation against slowing economy too much
    Fed can likely achieve goals without causing notable economic pain
    Still too much job market demand
    Wage growth remains elevated
    Core services inflation moderation has been modest
    Expects economy to slow into end of year


    Dow 34,443.19 -198.78 -0.57%
    S&P 500 4,465.48 -31.35 -0.70%
    Nasdaq 13,872.47 -148.48 -1.06%
    VIX 14.36 0.35 2.50%
    Gold 1,941.90 -10.70 -0.55%
    Oil 87.66 0.97 1.12%

Viewing 15 posts - 16 through 30 (of 73 total)
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