Traders Market Weekly: Markets Await Big Bankers Earnings

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    Dow 34,308.08 -413.04 -1.19%
    S&P 500 4,412.53 -75.75 -1.69%
    Nasdaq 13,411.96 -299.04 -2.18%
    GlobalDow 4,033.27 -20.46 -0.50%
    Gold 1,957.90 12.30 0.63%
    Oil 94.96 -3.30 -3.36%




    The February reading was +7.9% y/y and consumer inflation in the US is estimated to jump up further in March to +8.4% y/y. The monthly reading is expected to reflect a rise of 1.2% after a 0.8% monthly increase in February.

    In short, inflation is expected to run hot as it has been in the past few months. The Russia-Ukraine war has just exacerbated conditions globally and the recent lockdown in Shanghai won’t help


    German gas reserves would only last until late summer should Russia stop supplies now
    – German network regulator chief, speaking to Die Zeit newspaper

    The reserves would only be enough to last until late summer or early fall and German households would have to give up on heating privileges in the event of a gas supply emergency.



    AllianceBernstein (AB) reports preliminary assets under management of $735 bln as of March 31… AB down 1.7%
    Compass Minerals (CMP) reports above-average MarQ winter weather activity in its North American-served market, resulting in a 4.3% jump yr/yr in highway deicing salt products sold… CMP up 0.1%
    Rocket Lab USA (RKLB) breaks ground on neutron production complex in Virginia… RKLB up 1.2%
    US Foods (USFD): Sachem Head Capital Management LP continues to believe that significant change is needed in the USFD boardroom to fulfill its potential… no indication for USFD
    Vimeo (VMEO) reports monthly metrics for March 2022; total revenue jumped 18% yr/yr… VMEO up 0.1%


    AT&T (T 19.63, +1.41, +7.7%) after completing its planned spin-off of its WarnerMedia segment, The Wall Street Journal reported AT&T is aiming to increase prices and reduce costs, and JP Morgan upgraded the stock to Overweight from Neutral.


    The late-day slide took all 11 S&P 500 sectors into negative territory on a closing basis. The information technology (-2.6%), consumer discretionary (-1.9%), and communication services (-1.7%) sectors, which are home to the mega-caps, were influential drags on the market.

    The energy sector (-3.1%) was the weakest performer, though, as oil prices dropped below $95.00 per barrel ($94.16/bbl, -4.02, -4.1%), which was attributed to demand/growth concerns resulting from the COVID lockdowns in Shanghai.

    The industrials (-0.3%), materials (-0.5%), financials (-0.5%), and consumer staples (-0.5%) sectors outperformed on a relative basis with modest declines.


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

    Japan’s Nikkei: -1.8%
    Hong Kong’s Hang Seng: +0.5%
    China’s Shanghai Composite: +1.5%
    India’s Sensex: -0.7%
    South Korea’s Kospi: -1.0%
    Australia’s ASX All Ordinaries: -0.5%.


    Japan’s March PPI 0.8% m/m (expected 0.9%; last 0.9%); 9.5% yr/yr (expected 9.3%; last 9.7%). March Bank Lending 0.5% m/m (last 0.3%)
    Australia’s March NAB Business Survey 18 (last 9)
    New Zealand’s Q1 NZIER Business Confidence -40% (last -28%). February External Migration & Visitors -1.2% (last -26.0%)
    Japan’s March PPI increased at its fastest pace since 1891 while the February reading was revised higher.
    The U.S. reportedly ordered non-emergency staff to leave the Consulate in Shanghai.
    A former Reserve Bank of Australia economist said that he does not expect Australia’s cash rate to be increased soon.
    Economists have a split view of the upcoming Bank of Korea policy meeting on Thursday with nearly half expecting the base rate to remain at 1.25%.


    Major European indices trade on a mostly lower note.

    STOXX Europe 600: -0.5%
    Germany’s DAX: -1.0%
    U.K.’s FTSE 100: -0.5%
    France’s CAC 40: -0.6%
    Italy’s FTSE MIB: -0.1%
    Spain’s IBEX 35: +0.2%.


    Eurozone’s April ZEW Economic Sentiment -43.0 (expected -46.5; prior 38.7)
    Germany’s April ZEW Economic Sentiment -41.0 (expected -48.0; last -39.3) and ZEW Current Conditions -30.8 (expected -35.0; last -21.4). March CPI 2.5% m/m, as expected (last 0.9%); 7.3% yr/yr, as expected (last 5.1%). March WPI 6.9% m/m (last 1.7%); 22.6% yr/yr (last 16.6%)
    U.K.’s February Average Earnings Index + Bonus 5.4% yr/yr, as expected (last 4.8%). February three-month employment change 10,000 (expected 50,000; last -12,000) and March Claimant Count -46,900 (expected -41,100; last -58,000). February Unemployment Rate 3.8%, as expected (last 3.9%)
    France’s February trade deficit EUR10.30 bln (last deficit of EUR8.00 bln). February Current Account deficit EUR1.10 bln (last deficit of EUR1.30 bln)


    The European Central Bank’s lending survey for Q1 showed a tightening of credit standards for consumers and businesses.
    Credit standards for businesses are expected to continue tightening in Q2.
    Germany’s ZEW Economic Sentiment survey showed a decrease in inflation expectations.
    Commerzbank and Deutsche Bank are among the laggards in Frankfurt after a big investor sold 5% stakes in both firms.


    Cisco (CSCO 51.63, -1.25): -2.4% after the stock was downgraded to Sell from Neutral at Citigroup.
    CarMax (KMX 99.50, -3.67): -3.6% after missing EPS estimates on above-consensus revenue.
    Albertsons (ACI 33.50, -1.28): -3.7% despite beating top and bottom-line estimates.
    American Airlines (AAL 16.95, -0.02): -0.1% despite raising its Q1 revenue guidance. The company now expects a revenue decline of 16% from Q1 of 2019 (prior guidance decline of 17%).
    CrowdStrike (CRWD 224.80, +8.20): +3.8% after the stock was upgraded to Buy from Neutral at Goldman.


    “historic” BLIZZARD warning for North Dakota & close by states
    BELOW ZERO “F”, High winds, and heavy snow up to 20 foot drifts
    and forecast to spawn TORNADO outbreaks later in week in warmer states


    even with 8.5% CPI due to “Putin price hike” — equity markets still GREEN
    mainly with news circulating that this is PEAK rate & may decline to 7% next month
    and who knows there … OIL just shot up to $100 as well
    Still equities are doing a “dying quail” weakening from strong open
    our baby pug Samson & me are starting to plant on our VICTORY GARDEN – as I’m taking two half days off


    Dow 34,220.36 -87.72 -0.26%
    S&P 500 4,397.45 -15.08 -0.34%
    Nasdaq 13,371.57 -40.38 -0.30%
    GlobalDow 4,013.30 -20.90 -0.52%
    Gold 1,972.50 24.30 1.25%
    Oil 100.60 6.31 6.69%

    still it’s SPRING …. some of our FAVs below — as we love BEACH BOYS 🙂

    SONG #1 — some of FAV SAX & instrumentals & harmony
    SONG #2 — John Lennon noted 2nd tune as one of best all time (paralleling Sgt. Pepper level of composition)
    SONG #3 — another random great beach JAM — as everything they did is musical work of art

Viewing 15 posts - 16 through 30 (of 48 total)
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