Traders Market Weekly: Summer, Manufacturing, Jobs and Debt Ceiling

Viewing 15 posts - 31 through 45 (of 99 total)
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    South Korea’s May Consumer Confidence 98.0 (expected 93.4; last 95.1)


    Australia’s flash May Manufacturing PMI 48.0 (expected 47.3; last 48.0) and flash Services PMI 51.8 (expected 48.9; last 53.7)


    Press reports from China speculated that the People’s Bank of China will maintain its loan prime rates for some time.

    China’s Commerce Ministry said that U.S. firms were told that their interests would be protected.


    The Reserve Bank of New Zealand will announce its latest policy decision tomorrow, but expectations remain split regarding the size of the rate hike.


    Singapore’s April CPI 5.7% yr/yr (expected 5.3%; last 5.5%) and Core CPI 5.0% (expected 4.7%; last 5.0%)


    Major European indices trade in mixed fashion with France’s CAC (-0.8%) showing relative weakness due to underperformance among consumer names.

    STOXX Europe 600: -0.3%,
    Germany’s DAX: -0.2%,
    U.K.’s FTSE 100: +0.3%,
    France’s CAC 40: -0.8%,
    Italy’s FTSE MIB: -0.4%,
    Spain’s IBEX 35: -0.2%.


    Flash Manufacturing PMI readings from Germany and the U.K. missed expectations, pointing to a deepening contraction in activity while France’s reading was ahead of estimates, but it also reflected contraction.

    Germany’s flash May Manufacturing PMI 42.9 (expected 45.0; last 44.5) and flash Services PMI 57.8 (expected 55.5; last 56.0)
    U.K.’s flash May Manufacturing PMI 46.9 (expected 48.0; last 47.8) and flash Services PMI 55.1 (expected 55.5; last 55.9).
    France’s flash May Manufacturing PMI 46.1 (expected 46.0; last 45.6) and flash Services PMI 52.8 (expected 54.2; last 54.6)


    U.K.’s April Public Sector Net Borrowing GBP24.74 bln (expected GBP17.50 bln; last GBP20.02 bln)


    European Central Bank policymaker de Cos repeated that there is still some way to go in the central bank’s tightening campaign.

    Germany’s Chancellor Scholz urged the formation of a “realistic and binding accord” to control debt, noting that an unlimited increase in debt is unacceptable.

    The International Monetary Fund raised its forecast for 2023 growth in the U.K. to 0.4% from -0.3% while leaving the outlook for 2024 at 1.0%.


    The S&P 500 futures are down 12 points and are trading 0.3% below fair value.
    The Nasdaq 100 futures are down 50 points and are trading 0.4% below fair value.
    The Dow Jones Industrial Average futures are down 91 points and are trading 0.2% below fair value.

    Treasury yields are inching higher.

    The 2-yr note yield is up four basis points to 4.38% and the 10-yr note yield is up two basis points to 3.74%.
    The U.S. Dollar Index is up 0.3% to 103.54.


    Bond Watch:

    U.S. Treasuries are set for a lower start, which will put the 3-yr note and longer tenors on track for their eighth consecutive day of losses. Last night’s debt ceiling meeting did not yield any immediate results, but both sides are remaining optimistic.

    Crude oil is building on yesterday’s gain while the U.S. Dollar Index is up 0.3% at 103.52.

    2-yr: +4 bps to 4.38%
    3-yr: +4 bps to 4.04%
    5-yr: +3 bps to 3.80%
    10-yr: +2 bps to 3.74%
    30-yr: +1 bp to 3.98%




    Dow 33,055.51 -231.07 -0.69%
    S&P 500 4,145.58 -47.05 -1.12%
    Nasdaq 12,560.25 -160.53 -1.26%
    VIX 18.58 1.37 7.96%
    Gold 1,977.10 -0.10 -0.01%
    Oil 73.12 1.07 1.49%


    Agilent (A) beats by $0.01, beats on revs; guides JulQ EPS below consensus, revs below consensus; guides FY23 EPS below consensus, revs below consensus… A down 5.9%

    Intuit (INTU) beats by $0.43, misses on revs; guides Q4 EPS below consensus, revs above consensus… INTU down 5.0%

    New Relic (NEWR) beats by $0.20, reports revs in-line; guides Q1 revs below consensus; guides FY24 revs below consensus… NEWR down 7.3%

    Palo Alto Networks (PANW) beats by $0.17, reports revs in-line; guides JulQ EPS above consensus, revs in-line… PANW up 4.2%

    Toll Brothers (TOL) beats by $0.93, beats on revs… TOL up 3.2%

    Urban Outfitters (URBN) beats by $0.20, beats on revs, comparable retail segment net sales increased 5%… URBN up 8.0%

    V.F. Corp (VFC) beats by $0.03, reports revs in-line; guides FY24 EPS in-line; expects FY24 sales growth to be flat to up slightly in cc… VFC up 2.8%

Viewing 15 posts - 31 through 45 (of 99 total)
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