Traders Market Weekly: When The Rubber Meets The Road

Viewing 15 posts - 16 through 30 (of 36 total)
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  • #30259
    Truman
    Participant

    Market Snapshot
    Dow 34483.33 -652.61 (-1.86%)
    Nasdaq 15537.71 -245.14 (-1.55%)
    SP 500 4567.00 -88.27 (-1.90%)
    10-yr Note +28/32 1.432
    NYSE Adv 687 Dec 2646 Vol 2.0 bln
    Nasdaq Adv 1404 Dec 2974 Vol 6.4 bln

    Industry Watch
    Strong: Information Technology
    Weak: Communication Services, Utilities, Financials

    Moving the Market
    — Market closes sharply lower on comments from Fed Chair Powell and Moderna (MRNA)

    — Fed Chair Powell says it’s a good time to retire the word “transitory” and suggests its appropriate to taper more quickly

    — Moderna expects current vaccines to be materially less effective against the Omicron variant

    #30260
    Truman
    Participant

    Gold futures settled $8.70 lower (-0.5%) to $1,776.50/oz, fading from overnight gains, following comments from Fed Chair Jerome Powell about the potential for a speeding up of the Fed’s taper plan.

    #30274

    Dow 34,483.72 -652.22 -1.86%
    S&P 500 4,567.00 -88.27 -1.90%
    Nasdaq 15,537.69 -245.14 -1.55%
    GlobalDow 3,912.47 9.33 0.24%
    Gold 1,776.80 0.30 0.02%
    Oil 67.09 0.91 1.38%

    #30275

    and hopefully MARKETS & lower GAS PRICES can “get back to where they once belonged” 🙂

    #30295
    Truman
    Participant

    Market Updates

    S&P Futures vs Fair Value: +56.0
    10 yr Note: 1.495%
    USD/JPY: 113.42 +0.26
    EUR/USD: 1.1328 -0.0012
    Europe: FTSE: +1.3% DAX: +1.4% CAC: +1.3%
    Asia: Hang Seng: +0.8% Shanghai: +0.4% Nikkei: +0.4%
    Gold (1785.40 +8.90) Silver (22.91 +0.10) Crude (68.96 +2.78)

    #30296
    Truman
    Participant

    Overnight Summary — World markets stage a recovery

    The global equity markets are off to robust starts to the day. After closing near session lows on Tuesday, markets appear to be in recovery mode. S&P Futures are up about 54 points to trade around the 4620 area. Spoos are trading just off the high of 4625.75. The low was established early in the session at 4571.50.

    In Asia, both China and Japan notched 0.4% gains. The Shanghai shrugged off a miss in the Caixin Manufacturing PMI. The November reading fell to 49.9 compared to the forecast of 50.5. This was also down from the October print of 50.6. In Japan, the Nikkei snapped a three-day losing streak. Automotive names continued their volatile ways. They were among the better groups on Wednesday, however, with Honda and Toyota rising over 2%.

    In Europe, the major bourses are up well over 1%. This is occurring despite mostly weaker than expected economic data. Many of the regional Manufacturing PMIs saw downward revisions to the preliminary figures released earlier this month. German Retail Sales for October also disappointed with a 2.9% decline compared to the consensus of -2.0%.

    #30297
    Truman
    Participant

    Overnight

    China’s November Caixin Manufacturing PMI 49.9 (expected 50.5; last 50.6)
    Japan’s November Manufacturing PMI 54.5 (last 54.2) and Q3 Capital Spending 1.2% yr/yr (last 5.3%)
    South Korea’s November trade surplus $3.09 bln (last surplus of $1.78 bln). November Imports 43.6% yr/yr (expected 40.5%; last 37.7%) and November Exports 32.1% yr/yr (expected 27.7%; last 24.1%). November Nikkei Manufacturing PMI 50.9 (last 50.2) o India’s November Markit Manufacturing PMI 57.6 (expected 55.1; last 55.9)
    Australia’s Q3 GDP -1.9% qtr/qtr (expected -2.7%; last 0.7%); 3.9% yr/yr (expected 3.0%; last 9.5%). November Manufacturing PMI 59.2 (last 58.2) and November Commodity Prices 36.2% yr/yr (last 42.8%)
    New Zealand’s October Building Consents -2.0% m/m (last -2.0%)

    #30298
    Truman
    Participant

    -Equity Markets—

    Japan’s Nikkei: +0.4%
    Hong Kong’s Hang Seng: +0.8%
    China’s Shanghai Composite: +0.4%
    India’s Sensex: +1.1%
    South Korea’s Kospi: +2.1%
    Australia’s ASX All Ordinaries: -0.4%

    #30299
    Truman
    Participant

    The ADP Employment Change report estimated 534,000 jobs were added to private-sector payrolls in November (consensus 515,000). The increase in October was upwardly revised to 570,000 from 568,000

    • This reply was modified 8 months, 3 weeks ago by Truman.
    #30303

    Chief NIH director Fauci earlier this week noted that
    “he represents or is SCIENCE” …. Ohhhh the humanity – lol 😉

    #30304

    PPPPPLLLLUUUNNNGGGEEEEE … DOW dives from +520 to -160
    1st OMICRON VARIANT found in California
    https://www.cnn.com/2021/12/01/health/us-omicron-variant-confirmed-case/index.html

    #30306

    Dow 34,022.04 -461.68 -1.34%
    S&P 500 4,513.04 -53.96 -1.18%
    Nasdaq 15,254.05 -283.64 -1.83%
    GlobalDow 3,920.91 17.77 0.46%
    Gold 1,783.10 6.60 0.37%
    Oil 65.70 -0.48 -0.73%

    #30338
    TradersCom
    Keymaster

    DOW closes down at 34022 (-1.34%). Nasdaq closes down at 15254 (-1.83%). S&P 500 closes down at 4513 (-1.18%). Action came on higher than average volume (NYSE 1144 mln vs avg. of 912 mln; NASDAQ 6235 mln vs avg. of 5183 mln), with decliners outpacing advancers (NYSE 986/2414, NASDAQ 1178/3530) and new lows outpacing new highs (NYSE 35/237, NASDAQ 63/571).

    Relative Strength:

    Short Term Futures-VXX +7.23%, Colombia-GXG +4.49%, Turkey-TUR +3.9%, South Korea-EWY +2.11%, Taiwan-EWT +1.07%, Russia-RSX +1.06%, Greece 20-GREK +1%, Poland-EPOL +0.78%, US Home Construction-ITB +0.67%, Thailand-THD +0.63%, 20+ Yr Treasury Bond-TLT +0.62%

    Relative Weakness:

    US Nat Gas-UNG -7.76%, WilderHill Clean Energy-PBW -4.87%, Cloud Computing-SKYY -4.7%, Silver Miners-SIL -4.37%, Software-IGV -4.26%, S&P Oil & Gasp Expl & Prod-XOP -3.96%, Peru-EPU -3.91%, Jr Gold Miners-GDXJ -3.77%, Solar-TAN -3.45%, S&P Retail-XRT -3.33%

    #30339
    Truman
    Participant

    Market Updates

    S&P Futures vs Fair Value: +30.0
    10 yr Note: 1.441%
    USD/JPY: 112.99 +0.21
    EUR/USD: 1.1331 +0.0010
    Europe: FTSE: -0.6% DAX: -1.0% CAC: -0.8%
    Asia: Hang Seng: +0.6% Shanghai: -0.1% Nikkei: -0.7%
    Gold (1776.80 -7.50) Silver (22.38 +0.04) Crude (66.84 +1.27)

    #30340
    Truman
    Participant

    Overnight Summary — US futures tap the brakes on selling; attempt to stabilize

    The global equity markets are mixed. After another day of closing near session lows, US futures are seeing a modest bounce. S&P Futures are up about 32 points to trade around the 4540 area. Spoos have an upward bias but found resistance in the neighborhood of 4550. The ultimate high print resides at 4552.00 while the low rests at 4508.00.

    In Asia, China slipped 0.1% while Japan gave back 0.7%. The seesaw action in the Shanghai likely stemmed from reports that the state would ban companies going public on foreign stock exchanges, but this was later refuted by China’s Security Regulatory Commission. The uncertainty left the market little changed by day’s end. In Japan, the Nikkei opened higher but could not maintain the bullish tilt. Market heavyweight SoftBank anchored the index with a 5% drop. Shipping stocks attempted to keep the benchmark afloat with names such as Nippon Yusen KK, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha advancing 5-11%.

    In Europe, the major bourses are off to weak starts. This is partially due to these markets playing catch up to the late day dive in the US on Wednesday. Semiconductors are under pressure after a report surfaced that Apple told iPhone suppliers that demand has softened over recent weeks. This has driven names such as AMS and ASML lower by 2-4%.

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