Traders Market Weekly: The Consumer Matters

Viewing 10 posts - 46 through 55 (of 55 total)
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  • #67536
    Truman
    Participant

    Major European indices trade firmly in the green.

    STOXX Europe 600: +0.7%,
    Germany’s DAX: +0.5%,
    U.K.’s FTSE 100: +0.5%,
    France’s CAC 40: +0.8%,
    Italy’s FTSE MIB: +0.6%,
    Spain’s IBEX 35: +0.9%.

    Steelmaker ArcelorMittal beat quarterly expectations but issued cautious guidance for the current quarter
    British homebuilder Taylor Wimpey expressed confidence in reaching its targets for the year.

    #67537
    Truman
    Participant

    U.K.’s October RICS House Price Balance -63% (expected -65%; last -67%)

    #67538
    Truman
    Participant

    The European Central Bank’s latest Economic Bulletin showed a determination to pressure inflation back to the 2.0% target in a timely manner.

    ECB policymaker De Guindos said that it is too early to discuss potential rate cuts

    Bank of England’s Chief Economist Pill said that more rate hikes are not needed to curtail inflation.

    #67539
    Truman
    Participant

    Walt Disney (DIS 88.18, +3.68, +4.4%): beats by $0.11, reports revs in-line, Disney+ Core subscribers up 7% to 112.6 mln; Increases cost reduction plan to approx. $7.5 billion; Says it is now moving from a period of fixing to a period of building; remains confident DTC segment will achieve profitability in 4Q24

    MGM Resorts (MGM 39.70, +1.05, +2.7%): beats by $0.12, beats on revs; authorized a new $2 billion share repurchase plan

    Twilio (TWLO 58.67, +2.86, +5.1%): beats by $0.21, beats on revs; guides Q4 EPS above consensus, revs above consensus

    Arm Holdings plc (ARM 51.19, -3.21, -5.9%): beats by $0.10, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY24 EPS in-line, revs in-line

    Take-Two (TTWO 146.29, +2.82, +2.0%): misses by $2.19, reports revs in-line; guides Q3 EPS below consensus, revs below consensus; lowers FY24 EPS below consensus

    AppLovin (APP 45.67, +5.55, +13.8%): beats by $0.05, beats on revs; CFO H. Chen to leave the company at the end of the year

    Lyft (LYFT 10.55, -0.17, -1.6%): beats by $0.09, beats on revs, beats on adjusted EBITDA; Travel demand sustaining its momentum
    AMC Entertainment (AMC 10.24, +0.15, +1.5%): beats by $0.16, beats on revs

    Instacart (CART 26.91, -0.33, -1.2%): reports Q3 (Sep) results, beats on revs

    Bill.com (BILL 55.70, -6.49, -10.4%): nearing $1.95 bln deal for Melio, according to Bloomberg

    Nvidia (NVDA 472.37, +6.63, +1.4%): aiming to introduce three new chips for China

    Topgolf Callaway Brands (MODG 9.99, -2.46, -19.8%) beats by $0.09, misses on revs; guides Q4 revs below consensus; guides FY23 EPS below consensus, revs below consensus

    #67540
    Truman
    Participant

    Tesla (TSLA 219.38, -2.74, -1.2%): HSBC initiates coverage with Reduce rating and $146 price target

    #67541
    Truman
    Participant

    Initial jobless claims for the week ending November 4 decreased by 3,000 to 217,000 (consensus 220,000). Continuing jobless claims for the week ending October 28 increased by 22,000 to 1.834 million.

    The key takeaway from the report is that continuing jobless claims have reached their highest level since April, lending some resonance to the idea that there has been some softening in what is still a generally tight labor market.

    #67542
    Truman
    Participant

    Market

    Dow 34114.67 +2.40 (0.01%)
    Nasdaq 13669.30 +18.88 (0.14%)
    SP 500 4385.77 +2.99 (0.07%)
    10-yr Note -25/32 4.549
    NYSE Adv 1343 Dec 1345 Vol 203 mln
    Nasdaq Adv 1677 Dec 2315 Vol 2.0 bln

    Industry Watch
    Strong: Energy, Industrials, Financials, Information Technology, Communication Services
    Weak: Health Care, Consumer Discretionary, Real Estate, Utilities, Consumer Staples

    Moving the Market
    — Extended winning streak for S&P 500 (eight) and Nasdaq (nine) fuels expectations for consolidation period

    — Lacking conviction on either side of the tape

    — Digesting a big batch of earnings

    — Oil prices bouncing somewhat after steep declines

    WTI crude oil futures are up 1.4% to $76.39/bbl after steep losses recently. Natural gas futures are down 2.4% to $3.31/mmbtu. On a related note, the S&P 500 energy sector (+0.4%) outperforms the broader market.

    The CBOE Volatility Index is up 0.4% to 14.51.

    #67546

    Dow 33,891.94 -220.33 -0.65%
    S&P 500 4,347.35 -35.43 -0.81%
    Nasdaq 13,521.45 -128.97 -0.94%
    VIX 15.29 0.84 5.81%
    Gold 1,963.40 5.60 0.29%
    Oil 75.59 0.26 0.35

    #67564

    Dow 34,283.10 391.16 1.15%
    S&P 500 4,415.24 67.89 1.56%
    Nasdaq 13,798.11 276.66 2.05%
    VIX 14.25 -1.04 -6.80%
    Gold 1,939.80 -30.00 -1.52%
    Oil 77.24 1.50 1.98%

    Some GOAT songs/albums to celebrate the weekend ahead 🙂

    #67438

    Nov 12 -18, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Doing, OK? Th
    [See the full post at: Traders Market Weekly: The Consumer Matters]

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