Traders Market Weekly: Santa Claus Came to Town

Viewing 15 posts - 31 through 45 (of 97 total)
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  • #69082
    Truman
    Participant

    Alcoa (AA 30.73, +0.21, +0.7%): expects to record a valuation allowance on certain deferred tax assets in Brazil resulting in an impact to adjusted net loss per share in Q4 of $0.22-0.28

    #69083
    Truman
    Participant

    UBS (UBS 30.11, +0.91, +3.1%): Cevian Capital aiming to take EUR 1.2 bln stake in UBS, according to FT

    #69084
    Truman
    Participant

    S&P 500 futures are up six points and are trading 0.2% above fair value,
    Nasdaq 100 futures are up 24 points and are trading 0.1% above fair value
    Dow Jones Industrial Average futures are up 51 points and are trading 0.2% above fair value.

    #69085
    Truman
    Participant

    Total housing starts increased 14.8% month-over-month in November to a seasonally adjusted annual rate of 1.560 million units (consensus 1.360 million) while building permits decreased 2.5% month-over-month to a seasonally adjusted annual rate of 1.460 million, as expected.

    The key takeaway from the report is that single-unit activity was on the plus side, up a robust 18.0% for starts and up a more modest 0.7% for permits. Those are welcome indications for a housing market constrained by a low inventory of existing homes for sale.

    Treasuries are little changed after the data.

    2-yr note yield was at 4.45% before 8:30 a.m. ET and moved to 4.46%.
    10-yr note yield, at 3.91% earlier, moved to 3.92%.

    #69086
    Truman
    Participant

    Dow 37475.58 +169.56 (0.45%)
    Nasdaq 14974.84 +70.03 (0.47%)
    SP 500 4758.68 +18.12 (0.38%)
    10-yr Note +4/32 3.892
    NYSE Adv 2209 Dec 503 Vol 145 mln
    Nasdaq Adv 2953 Dec 1085 Vol 1.6 bln

    Industry Watch
    Strong: Communication Services, Materials, Real Estate, Energy, Consumer Discretionary
    Weak: —

    Moving the Market
    — Drop in market rates, helped by interest rate differential trade as Bank of Japan holds policy rate unchanged at -0.10% and sticks with negative interest rate policy

    — Continued momentum

    — Relative softness in some mega cap stocks limiting index performance

    NVDA, MSFT, AMZN weigh on indices

    The three major indices trade near session highs. The A-D line favors advancers by a 9-to-2 margin at the NYSE and by a nearly 3-to-1 margin at the Nasdaq.

    Losses in Amazon.com (AMZN 153.70, -0.37, -0.2%), Microsoft (MSFT 371.11, -1.47, -0.4%), and NVIDIA (NVDA 495.40, -5.30, -1.0%) continue to weigh on the major indices.
    The equal-weighted S&P 500 is up 0.4% versus a 0.7% gain in the equal-weighted S&P 500.

    Weakness in MSFT and NVDA have led to the relative underperformance of the information technology sector, which trades up 0.1%.

    #69094

    SUPER GREEN on WALL STREET as the great SANTA RALLY continues 🙂

    #69120

    SUPER GREEN FINISH — as SANTA RALLY continues

    Dow 37,557.92 251.90 0.68%
    S&P 500 4,768.37 27.81 0.59%
    Nasdaq 15,003.22 98.03 0.66%
    VIX 12.50 -0.06 -0.48%
    Gold 2,053.50 13.00 0.64%
    Oil 73.58 1.11 1.53%

    #69142
    Truman
    Participant

    Equity indices in the Asia-Pacific region were mostly higher on Wednesday, although China’s Shanghai Composite (-1.0%) and India’s Sensex (-1.3%) suffered a down day.

    Japan’s Nikkei: +1.5%,
    Hong Kong’s Hang Seng: +0.6%,
    China’s Shanghai Composite: -1.0%,
    India’s Sensex: -1.3%,
    South Korea’s Kospi: +1.8%,
    Australia’s All Ordinaries: +0.6%.

    South Korea’s Kospi (+1.8%) outperformed with the Bank of Korea (BOK) saying it thinks the inflation rate will hit 2% target by the end of 2024. Minutes from the November BOK meeting indicated the bank’s policy rate is restrictive enough.

    Coming off the Bank of Japan’s decision yesterday to stick with its negative interest rate policy, the Nikkei (+1.5%) had a good day in spite of some weaker than expected export and import activity for November.

    #69143
    Truman
    Participant

    Japan’s
    November Exports -0.2% yr/yr (expected 1.5%; last 1.6%) and Imports -11.9% yr/yr (expected -8.6%; last -12.5%)

    #69144
    Truman
    Participant

    Australia’s
    November MI Leading Index 0.1% (last 0.0%)

    #69145
    Truman
    Participant

    The People’s Bank of China left its one-year and five-year loan prime rates unchanged at 3.45% and 4.20%, respectively, as expected.

    #69146
    Truman
    Participant

    CNN reports that Malaysia has banned ships with Israeli flags, and ships headed to Israel, from docking at Malaysian ports in response to Israel’s actions against Palestinian civilians.

    #69147
    Truman
    Participant

    Major European indices are mixed with modest changes on either side of unchanged.

    STOXX Europe 600: flat,
    Germany’s DAX: -0.1%,
    UK’s FTSE 100: +0.6%,
    France’s CAC 40: +0.1%,
    Italy’s FTSE MIB: -0.3%,
    Spain’s IBEX 35: -0.3%.

    The UK’s FTSE 100 (+0.6%) is outperforming, however, following some encouraging CPI data for November. Headline CPI was up 3.9% yr/yr, versus 4.6% in October, hitting a two-year low. The inflation data has fueled a rally in gilts with the 10-yr yield down 12 basis points to 3.54%.
    In turn, falling market rates and budding rate-cut expectations have pressured the pound, which is down 0.6% against the dollar at 1.2657.

    #69148
    Truman
    Participant

    Eurozone’s
    October Current Account EUR33.8B (expected EUR27.0B; last EUR31.2B);
    October Construction Output -0.97% (last 0.89%)

    Italy’s
    November Car Registration 0.1% m/m (last 2.1%) and 16.2% yr/yr (last 20.0%)

    Germany’s
    November PPI -0.5% m/m (expected -0.2%; last -0.1%) and -7.9% yr/yr (last -11.0%);
    November Car Registration 12.2% m/m (last -2.5%) and -5.7% yr/yr (last 4.9%);
    January GfK German Consumer Climate -25.1 (expected -27.0; last -27.6)

    France’s
    Car Registration 0.2% m/m (last -2.5%) and 14.0% yr/yr (last 21.9%)

    #69149
    Truman
    Participant

    UK’s
    November CPI -0.2% m/m (expected 0.2%; last 0.0%) and 3.9% yr/yr (expected 4.3%; last 4.6%);
    November Car Registration 2.0% m/m (last -43.7%) and 9.5% yr/yr (last 14.3%);
    November RPI -0.1% m/m (expected 0.3%; last -0.2%) and 5.3% yr/yr (expected 5.8%; last 6.1%)

Viewing 15 posts - 31 through 45 (of 97 total)
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