Traders Market Weekly: Inflation and Bear Market Rallies

Viewing 15 posts - 16 through 30 (of 54 total)
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  • #41267

    Ohhhh the humanity … NANCY just landed in Taiwan
    Hopefully cool heads will prevail to make this a PEACEFUL visit for all

    #41272
    Truman
    Participant

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

    Japan’s Nikkei: -1.4%,
    Hong Kong’s Hang Seng: -2.4%,
    China’s Shanghai Composite: -2.3%,
    India’s Sensex: UNCH,
    South Korea’s Kospi: -0.5%,
    Australia’s ASX All Ordinaries: +0.1%.

    #41273
    Truman
    Participant

    South Korea’s July CPI 0.5% m/m (expected 0.4%; last 0.6%); 6.3% yr/yr, as expected (last 6.0%)
    Hong Kong’s June Retail Sales -1.2% yr/yr (last -1.7%)
    Australia’s June Building Approvals -0.7% m/m (expected -5.0%; last 11.2%), Private House Approvals 1.2% m/m (last -2.1%), and June Home Loans -3.3% m/m (expected -3.0%; last 2.1%). July Commodity Prices 14.1% yr/yr (last 29.2%)
    Panasonic will raise prices on some of its products by up to 23%.
    China Beige Book noted that the Chinese economy deteriorated in July.
    Bank of Korea expects South Korea’s inflation to remain above 6.0% for a while.
    The Reserve Bank of Australia raised its cash rate by 50 bps to 1.85%, as expected.
    House Speaker Pelosi is expected to arrive in Taiwan later today.

    #41274
    Truman
    Participant

    Major European indices trade in the red while the U.K.’s FTSE (unch) outperforms.

    STOXX Europe 600: -0.8%,
    Germany’s DAX: -0.7%,
    U.K.’s FTSE 100: UNCH,
    France’s CAC 40: -0.6%,
    Italy’s FTSE MIB: -0.8%,
    Spain’s IBEX 35: -0.1%.

    #41275
    Truman
    Participant

    U.K.’s July Nationwide HPI 0.1% m/m (expected 0.3%; last 0.2%); 11.0% yr/yr (expected 11.5%; last 10.7%)
    Spain’s July Unemployment Change 3,200 (expected -40,300; last -42,400) and July Consumer Confidence 55.5 (last 65.8)
    Swiss July procure.ch PMI 58.0 (expected 57.9; last 59.1) and Q3 SECO Consumer Climate -28 (last -18)
    BP reported better than expected results and announced a buyback increase.
    Shipper Maersk raised its outlook.
    Moody’s commented on a rising risk of stagflation in the EU.

    #41276
    Truman
    Participant

    Pinterest (PINS 23.64, +3.65, +18.2%): misses by $0.07, reports revs in-line; provides Q3 and FY22 guidance; upgraded to Positive from Neutral at Susquehanna
    Caterpillar (CAT 187.98, -6.88, -3.5%): beats by $0.16, reports revs in-line
    Uber (UBER 27.54, +2.94, +11.9%): misses by $1.06, beats on revs; Q2 gross bookings in line with guidance; provides Q3 gross bookings/adjusted EBITDA guidance; co became a free cash flow generator in Q2
    BP (BP 29.92, +0.87, +2.9%): reports Q2 (Jun) results, beats on revs
    Eaton (ETN 150.34, +2.84, +1.9%): beats by $0.05, reports revs in-line; guides Q3 EPS in-line; guides FY22 EPS in-line
    Marriott (MAR 162.27, +2.70, +1.6%): beats by $0.23, beats on revs; guides Q3 EPS above consensus; guides FY22 EPS above consensus
    DuPont (DD 59.00, -1.20, -1.9%): beats by $0.13, beats on revs; guides Q3 EPS below consensus, revs below consensus; guides FY22 EPS in-line, revs below consensus
    JetBlue (JBLU 8.29, -0.30, -3.4%): misses by $0.36, reports revs in-line
    Cowen Group (COWN 38.15, +2.66, +7.5%): Toronto-Dominion Bank (TD) to acquire COWN in all-cash deal valued at $1.3 bln, or $39/share; to be modestly accretive to 2023E EPS

    #41277
    Truman
    Participant

    The S&P 500 futures are down 24 points and are trading 0.7% below fair value.
    The Nasdaq 100 futures are down 103 points and are trading 0.9% below fair value.
    The Dow Jones Industrial Average futures are down 165 points and are trading 0.4% below fair value.

    #41278
    Truman
    Participant

    Reversed higher after Nancy made it safely…

    Dow -226.20 at 32574.08, Nasdaq +33.88 at 12402.82, S&P -4.38 at 4114.32
    The benchmark S&P 500 (-0.11%) is firmly in second place to this point on Tuesday.

    S&P 500 constituents Molson Coors Brewing (TAP 53.93, -5.75, -9.63%), Sealed Air (SEE 56.53, -5.00, -8.13%), and Zebra Tech (ZBRA 332.43, -26.00, -7.25%) pepper the bottom of the index all following earnings.

    Meanwhile, Monolithic Power (MPWR 507.53, +45.23, +9.78%) is today’s top gain getter following last night’s earnings beat/upbeat guidance.

    #41279
    Truman
    Participant

    “PLA announced it would conduct live-fire exercises in 6 regions surrounding Taiwan island, a situation that surpassed 1996 Taiwan Strait crisis. This is not just a demonstration, but an actual exercise to liberate Taiwan. Pelosi’s visit is bound to speed up China’s unification.”

    #41280
    MoneyNeverSleeps
    Participant

    U.S. Treasuries have deepened their pullback with the 3-yr note remaining at the forefront of the reversal from early highs.

    The ongoing backtracking has lifted the 30-yr yield toward the midpoint of yesterday’s range while yields on the 5-yr note and the 2-yr note are now near their high from Thursday.

    Yield Check:
    2-yr: +9 bps to 3.00%
    3-yr: +16 bps to 2.98%
    5-yr: +12 bps to 2.79%
    10-yr: +10 bps to 2.71%
    30-yr: +5 bps to 2.97%

    #41281

    Dow 32,396.17 -402.23 -1.23%
    S&P 500 4,091.19 -27.44 -0.67%
    Nasdaq 12,348.76 -20.22 -0.16%
    GlobalDow 3,599.02 -48.08 -1.32%
    Gold 1,778.80 -8.90 -0.50%
    Oil 94.21 0.32 0.34%

    #41283
    MoneyNeverSleeps
    Participant

    Nancy Pelosi flew into Taiwan on this tune yeah or ney?

    #41314
    Truman
    Participant

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

    —Equity Markets—

    Japan’s Nikkei: +0.5%
    Hong Kong’s Hang Seng: +0.4%
    China’s Shanghai Composite: -0.7%
    India’s Sensex: +0.4%
    South Korea’s Kospi: +0.9%
    Australia’s ASX All Ordinaries: -0.2%

    #41315
    Truman
    Participant

    Japan’s Defense Ministry will reportedly request a record high budget for FY23. House Speaker Pelosi is visiting South Korea today. FT reported that Samsung and SK Hynix are reconsidering investments in China after the passage of the Chips Act in the U.S. China’s Caixin Services PMI reached its highest level since April 2021 in the July reading.
    China’s July Caixin Services PMI 55.5 (last 54.5)
    Japan’s July Services PMI 50.3 (last 54.0)
    Hong Kong’s July Manufacturing PMI 52.3 (last 52.4)
    India’s July Nikkei Services PMI 55.5 (expected 58.5; last 59.2)
    Australia’s July AIG Construction Index 45.3 (last 46.2). June Retail Sales 0.2% m/m, as expected (last 0.9%) and Q2 Retail Sales 1.4% qtr/qtr (expected 1.2%; last 1.0%). July Services PMI 50.9 (last 52.6)
    New Zealand’s Q2 Employment Change 0.0% qtr/qtr (expected 0.4%; last 0.0%). Q2 Labor Cost Index 1.3% qtr/qtr (expected 1.1%; last 0.7%); 3.4% yr/yr (expected 3.3%; last 3.1%). Q2 Unemployment Rate 3.3% (expected 3.1%; last 3.2%)

    #41316
    Truman
    Participant

    Major European indices trade in the green.

    —Equity Markets—

    STOXX Europe 600: +0.3%
    Germany’s DAX: +0.4%
    U.K.’s FTSE 100: +0.4%
    France’s CAC 40: +0.7%
    Italy’s FTSE MIB: +0.4%
    Spain’s IBEX 35: +0.7%

Viewing 15 posts - 16 through 30 (of 54 total)
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