Traders Market Weekly: Geopolitics, ECB and Apple

Viewing 15 posts - 16 through 30 (of 58 total)
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  • #42755
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note with India’s Sensex (+2.7%) rebounding strongly from Monday’s slide.

    —Equity Markets—

    Japan’s Nikkei: +1.1%
    Hong Kong’s Hang Seng: -0.4%
    China’s Shanghai Composite: -0.4%
    India’s Sensex: +2.7%
    South Korea’s Kospi: +1.0%
    Australia’s ASX All Ordinaries: +0.5%

    #42756
    Truman
    Participant

    China reportedly tightened coronavirus restrictions in Shenzhen.
    Japanese press reported that several hydrogen receiving terminals will be built in Japan.
    South Korea is working on a rare earth extraction deal with Mongolia, according to Yonhap.
    South Korea’s budget for 2023 will include the slowest spending growth in six years.
    Japan’s July Unemployment Rate 2.6%, as expected (last 2.6%) and July jobs/applications ratio 1.29 (expected 1.27; last 1.27)
    Australia’s July Building Approvals -17.2% m/m (expected -5.0%; last -0.6%) and Private House Approvals 0.7% m/m (last -1.8%)

    #42757
    Truman
    Participant

    Major European indices mostly trade in the green with Germany’s DAX (+1.4%) showing relative strength.

    —Equity Markets—

    STOXX Europe 600: +0.5%
    Germany’s DAX: +1.4%
    U.K.’s FTSE 100: -0.1%
    France’s CAC 40: +0.6%
    Italy’s FTSE MIB: +1.2%
    Spain’s IBEX 35: +0.6%

    #42758
    Truman
    Participant

    Spain’s CPI decelerated from its July peak but was still up 10.4% yr/yr in the preliminary August reading.
    There is growing speculation that energy price caps will be implemented by some European countries.
    European Commission President von der Leyen said that an emergency intervention is being planned to rein in energy prices. Goldman Sachs warned that inflation in the U.K. could climb past 22.0% in 2023.
    Eurozone’s August Business and Consumer Survey 97.6 (expected 98.0; last 98.9)
    U.K.’s July Mortgage Lending GBP5.05 bln, as expected (last GBP5.31 bln) and net lending to individuals GBP6.50 bln (expected GBP6.60 bln; last GBP7.10 bln)
    Italy’s June Industrial Sales -0.2% m/m (last 1.2%); 18.0% yr/yr (last 23.6%)
    Spain’s July Retail Sales -0.5% yr/yr (last 0.7%). August CPI 0.1% m/m (expected 0.3%; last -0.3%); 10.4% yr/yr (expected 10.9%; last 10.8%). August Business Confidence -6.1 (last -5.2)
    Swiss August KOF Leading Indicators 86.5 (expected 89.0; last 90.5)

    #42759
    Truman
    Participant

    The S&P 500 futures are up 22 points and are trading 0.5% above fair value.
    The Nasdaq 100 futures are up 88 points and are trading 0.6% above fair value.

    Bloomberg is reporting that the EU is set to meet its gas storage filling goal two months ahead of target.
    European Commission President von der Leyen said that an emergency intervention is being planned to rein in energy prices.
    Energy complex futures are trending lower amid the aforementioned macro headlines as well as an understanding that Shenzhen is imposing COVID restrictions.
    WTI crude oil futures are down 3.0% to $94.03/bbl.
    Natural gas futures are down 1.1% to $9.23/mmbtu.
    Unleaded gasoline futures are down 3.6% to $2.61/gal.

    #42760
    Truman
    Participant

    Twitter (TWTR 39.67, -0.37, -0.92%): Elon Musk files amended 13D disclosing letter sent Aug 29 to provide an additional notice of termination of the Agreement and Plan of Merger by and among the Musk Parties and Twitter
    Big Lots (BIG 22.04, +0.49, +2.27%): beats by $0.19, reports revs in-line
    First Solar (FSLR 124.10, +2.41, +1.98%): to invest up to $1.2 bln scaling production of American-made responsible solar by 4.4 GW
    Best Buy (BBY 75.74, +2.04, +2.77%): beats by $0.25, reports revs in-line; Q2 comps -12.1%; provides Q3 and FY23 guidance for comps
    Baidu (BIDU 152.88, +5.56, +3.77%): beats by CNY4.96, beats on revs

    #42761
    Truman
    Participant

    Tesla (TSLA 273.87, -10.99, -3.8%) will have to face a lawsuit over its Autopilot’s phantom braking problem, according to Electrek.

    Weakness here is contributing to the consumer discretionary sector’s losses (-1.7%) that sits just above energy (-3.7%) at the bottom of the pack.

    #42762

    Dow 31,790.87 -308.12 -0.96%
    S&P 500 3,986.16 -44.45 -1.10%
    Nasdaq 11,883.14 -134.53 -1.12%
    GlobalDow 3,558.87 -54.75 -1.52%
    Gold 1,736.10 -13.60 -0.78%
    Oil 92.09 -4.92 -5.07%

    #42763

    In case of a rare WALL STREET CIRCUIT BREAKER event, there will be “ONE LESS BELL to answer” – lol
    Still, here’s hoping USA economy avoids that completely & remains stable & even rebounds in months ahead 🙂

    #42794
    TradersCom
    Keymaster

    Ambarella (AMBA) beats by $0.01, reports revs in-line; guides Q3 revs in-line… AMBA down 5.9%
    Chewy (CHWY) beats by $0.16, reports revs in-line, guides Q3 and FY22 revenue below consensus… CHWY down 9.1%
    CrowdStrike (CRWD) beats by $0.09, beats on revs; guides OctQ EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus… CRWD down 0.4%
    Hewlett Packard Enterprise (HPE) reports EPS in-line, revs in-line; guides Q4 (Oct) EPS in-line; reaffirms FY22 revs guidance… HPE up 0.8%
    HP Inc. (HPQ) beats by $0.01, misses on revs; guides OctQ EPS below consensus… HPQ down 3.9%

    #42795
    TradersCom
    Keymaster

    Upgrades:
    American Outdoor Brands (AOUT) upgraded to Buy from Neutral at B. Riley Securities; tgt $11
    Arco Platform (ARCE) upgraded to Overweight from Neutral at JP Morgan; tgt lowered to $20
    Gap (GPS) upgraded to Equal Weight from Underweight at Barclays
    MakeMyTrip (MMYT) upgraded to Buy from Neutral at BofA Securities; tgt raised to $40
    Pinduoduo (PDD) upgraded to Buy from Hold at HSBC Securities; tgt $93
    Pinduoduo (PDD) upgraded to Buy at BOCOM Int’l
    Sealed Air (SEE) upgraded to Neutral from Underweight at JP Morgan; tgt lowered to $58
    Downgrades:
    Azure Power (AZRE) downgraded to Underperform from Outperform at Credit Suisse; tgt lowered to $5
    Cabaletta Bio (CABA) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $3
    Genesco (GCO) downgraded to Neutral from Buy at Seaport Research Partners
    Lument Finance Trust (LFT) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $2.75
    Molecular Partners AG (MOLN) downgraded to Sector Perform from Outperform at RBC Capital Mkts
    ObsEva (OBSV) downgraded to Neutral from Buy at H.C. Wainwright
    Others:
    Ascendis Pharma (ASND) resumed with a Buy at Berenberg; tgt $166
    Blue Foundry Bancorp (BLFY) initiated with a Mkt Perform at Keefe Bruyette; tgt $13.25
    Bowlero (BOWL) initiated with an Overweight at JP Morgan; tgt $17
    Enhabit Inc. (EHAB) initiated with a Buy at Jefferies; tgt $20
    European Wax Center (EWCZ) initiated with a Neutral at Piper Sandler; tgt $22
    FiscalNote Holdings (NOTE) initiated with a Buy at BTIG Research; tgt $14
    General Dynamics (GD) initiated with an Outperform at RBC Capital Mkts; tgt $275
    IN8bio (INAB) initiated with a Buy at H.C. Wainwright; tgt $14
    Iris Energy (IREN) initiated with a Buy at H.C. Wainwright; tgt $7
    L3Harris (LHX) initiated with an Outperform at RBC Capital Mkts; tgt $285
    Leidos (LDOS) initiated with a Sector Perform at RBC Capital Mkts; tgt $106
    Lockheed Martin (LMT) initiated with a Sector Perform at RBC Capital Mkts; tgt $460
    Northrop Grumman (NOC) initiated with a Sector Perform at RBC Capital Mkts; tgt $550
    Spire Global (SPIR) initiated with a Buy at Canaccord Genuity; tgt $3.50
    Whitestone REIT (WSR) initiated with a Hold at Truist; tgt $10

    #42805
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note while India’s Sensex was closed for a holiday.

    —Equity Markets—

    Japan’s Nikkei: -0.4%
    Hong Kong’s Hang Seng: UNCH
    China’s Shanghai Composite: -0.8%
    India’s Sensex: CLOSED
    South Korea’s Kospi: +0.9%
    Australia’s ASX All Ordinaries: -0.1%

    #42806
    Truman
    Participant

    Bank of Japan policymaker Nakagawa said that the central bank’s response has exerted intended effects and that the impact of inflation on household spending must be watched carefully.
    Japan’s Prime Minister Kishida said that there has been no change in his country’s plans to reduce the dependence on nuclear energy.
    China’s Manufacturing PMI remained in contraction for the second consecutive month in the August reading.
    China’s August Manufacturing PMI 49.4 (expected 49.2; last 49.0) and Non-Manufacturing PMI 52.6 (last 53.8)
    Japan’s July Industrial Production 1.0% m/m (expected -0.5%; last 8.9%) and July Retail Sales 2.4% yr/yr (expected 1.9%; last 1.5%). July Housing Starts -5.4% yr/yr (expected -4.1%; last -2.2%). July Household Confidence 32.5 (expected 29.4; last 30.2)
    South Korea’s July Industrial Production -1.3% m/m (expected -0.1%; last 1.7%); 1.5% yr/yr (expected 2.9%; last 1.3%). July Retail Sales -0.3% m/m (last -1.0%)
    Hong Kong’s July Retail Sales 4.1% yr/yr (last -1.2%)
    Australia’s July Private Sector Credit 0.7% m/m, as expected (last 0.9%) and Q2 Construction Work Done -3.8% qtr/qtr (expected 0.9%; last -0.3%)
    New Zealand’s August ANZ Business Confidence -47.8 (last -56.7) and July Building Consents 5.0% m/m (last -2.3%)

    #42807
    Truman
    Participant

    Major European indices trade in negative territory.

    —Equity Markets—

    STOXX Europe 600: -0.6%
    Germany’s DAX: -0.1%
    U.K.’s FTSE 100: -1.2%
    France’s CAC 40: -0.5%
    Italy’s FTSE MIB: -0.8%
    Spain’s IBEX 35: -0.8%

    #42808
    Truman
    Participant

    Eurozone’s CPI increased 9.1% yr/yr in the flash reading for August, accelerating past its peak from July. Denmark lowered its GDP growth forecast for 2022 to 2.8% from 3.4% while the outlook for 2023 was cut to 0.8% from 1.9%.
    The EU is debating a plan to restrict Russians from visiting EU countries.

    Eurozone’s July CPI 0.5% m/m (expected 0.4%; last 0.1%); 9.1% yr/yr (expected 9.0%; last 8.9%). July Core CPI 0.5% m/m (last 0.1%); 4.3% yr/yr (expected 4.0%; last 4.0%)
    Germany’s July Import Price Index 1.4% m/m (expected 1.5%; last 1.0%); 28.9% yr/yr (expected 29.9%; last 29.9%). August Unemployment Change 28,000, as expected (last 45,000) and August Unemployment Rate 5.5%, as expected (last 5.4%)
    France’s Q2 GDP 0.5% qtr/qtr, as expected (last 0.5%). July CPI 0.4% m/m (expected 0.5%; last 0.3%); 5.8% yr/yr (expected 6.1%; last 6.1%). July PPI 1.6% m/m (last 1.3%). July Consumer Spending -0.8% m/m (expected -0.3%; last 0.1%)
    Italy’s August CPI 0.8% m/m (expected 0.6%; last 0.4%); 8.4% yr/yr (expected 8.1%; last 7.9%). July PPI 5.0% m/m (last 1.0%); 36.9% yr/yr (last 34.1%)
    Spain’s June Current Account surplus EUR40 mln (last surplus of EUR2.85 bln)
    Swiss August ZEW Expectations -56.3 (last -57.2)

Viewing 15 posts - 16 through 30 (of 58 total)
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