Traders Market Weekly: Rates, Debt and the Fed

Viewing 12 posts - 31 through 42 (of 42 total)
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  • #53772
    Truman
    Participant

    The second estimate for fourth quarter GDP showed a downward revision to 2.7% growth (consensus 2.9%) from the advance estimate of 2.9%. That was driven by a downward revision in personal spending growth to 1.4% from 2.1%. The GDP Price Deflator was revised up to 3.9% (Briefing.com consensus 3.5%) from 3.5%. The personal consumption expenditures index, meanwhile, was revised up to 3.7% from 3.2%.

    The key takeaway from the report is that it is an off-putting mix for the Fed. Growth is still running above potential and inflation is still running above target.

    Treasury yields moved modestly higher after the data releases.

    The 2-yr note yield is up one basis point to 4.71% and the 10-yr note yield is up three basis points to 3.95%.

    #53785

    Dow 33,156.41 111.32 0.34%
    S&P 500 4,012.39 21.34 0.53%
    Nasdaq 11,590.40 83.33 0.72%
    VIX 21.06 -1.23 -5.52%
    Gold 1,830.40 -11.10 -0.60%
    Oil 75.50 1.55 2.10%

    #53809
    Truman
    Participant

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

    Equity Markets—

    Japan’s Nikkei: +1.3% (-0.2% for the week)
    Hong Kong’s Hang Seng: -1.7% (-3.4% for the week)
    China’s Shanghai Composite: -0.6% (+1.3% for the week)
    India’s Sensex: -0.2% (-2.5% for the week)
    South Korea’s Kospi: -0.6% (-1.1% for the week)
    Australia’s ASX All Ordinaries: +0.3% (-0.5% for the week)

    #53810
    Truman
    Participant

    Citic Group Chairman Zhu Hexin is reportedly being considered to replace Yi Gang as governor of the People’s Bank of China.

    Bank of Japan Governor nominee Ueda said that the joint statement does not need to be changed at this time and that current monetary easing is appropriate.

    China released a statement on the conflict in Ukraine, calling for a stop to hostilities and a resumption of peace talks.
    Japan’s January National CPI 0.5% m/m (last 0.2%); 4.3% yr/yr (last 4.0%). National Core CPI 4.2%, as expected (last 4.0%)

    Singapore’s January Industrial Production -1.1% m/m (expected -0.1%; last 2.9%); -2.7% yr/yr (expected 2.9%; last -2.6%)

    #53811
    Truman
    Participant

    Major European indices trade lower. Germany’s Q4 GDP was revised down to show a deeper contraction than previously estimated.

    —Equity Markets—

    STOXX Europe 600: -0.2% (-0.5% week-to-date)
    Germany’s DAX: -1.0% (-1.1% week-to-date)
    U.K.’s FTSE 100: -0.2% (-1.5% week-to-date)
    France’s CAC 40: -1.0% (-1.4% week-to-date)
    Italy’s FTSE MIB: -0.7% (-2.4% week-to-date)
    Spain’s IBEX 35: -0.1% (-1.3% week-to-date)

    #53812
    Truman
    Participant

    BASF reported weaker than expected results for Q4, announced cost cuts, job cuts, and terminated its buyback.

    European Central Bank policymaker Nagel said that a “robust” rate hike is needed in March and that more hikes are likely to follow.

    Germany’s Q4 GDP -0.4% qtr/qtr (expected -0.2%; last -0.2%); 0.3% yr/yr (expected 0.5%; last 0.5%). March GfK Consumer Climate -30.5 (expected -30.4; last -33.8)

    France’s February Consumer Confidence 82 (expected 80; last 83) o Spain’s January PPI 8.2% yr/yr (last 14.9%)

    Swiss Q4 employment 5.398 mln (last 5.362 mln)

    #53813
    Truman
    Participant

    Warner Bros. Discovery (WBD 15.24, -0.49, -3.1%): reports Q4 (Dec) results, misses on revs
    Block (SQ 78.61, +4.46, +6.0%): misses by $0.08, beats on revs, GPV up 15% yr/yr; expects FY23 adjusted EBITDA of $1.3 bln
    Booking Holdings (BKNG 2416.79, -9.70, -0.4%): beats by $2.66, beats on revs; CFO David Goulden to retire in early 2024, will remain with company until successor is named around March 2024
    EOG Resources (EOG 114.90, -4.63, -3.9%): misses by $0.10, beats on revs; announces special dividend
    Beyond Meat (BYND 19.30, +2.16, +12.6%): beats by $0.15, beats on revs; guides FY23 revs in-line
    Autodesk (ADSK 211.20, -9.96, -4.5%): beats by $0.05, reports revs in-line; guides Q1 EPS below consensus, revs in-line; guides FY24 EPS mostly below consensus, revs midpoint below consensus
    Live Nation (LYV 77.27, +0.78, +1.0%): reports Q4 results, beats on revs
    Carvana (CVNA 9.47, -0.61, -6.1%): reports Q4 (Dec) results, misses on revs
    Intuit (INTU 411.87, -0.01, -0.0%): beats by $0.76, beats on revs; guides Q3 EPS below consensus, revs above consensus; reaffirms FY23 EPS guidance, revs guidance; named Sandeep Singh Aujla as Chief Financial Officer, effective August 1, 2023

    #53814
    Truman
    Participant

    #Boeing suspended deliveries of 787 Dreamliner due to documentation issue, according to WSJ
    $BA 200.16 ▼ -7.97 (-3.83%) today

    Right at big OI and psychological level at $200

    • This reply was modified 1 year, 3 months ago by Truman.
    #53815
    Truman
    Participant

    Adobe (ADBE 337.00, -10.02, -2.9%): Department of Justice preparing lawsuit to block ADBE acquisition of Figma, according to Bloomberg

    #53820

    PPPPPPLLLLLUUUUUNNNNNNNEEEEEEEEE …. ohhh the humanity — Inflation is still too hot
    -500 on DOW & -220 on NASDAQ after PCE report … Markets are RED, and I’m feeling BLUE
    As Helen Rodgers sings — with the voice of an angel on another FAV album 🙂

    #53834
    MoneyNeverSleeps
    Participant

    I see Putin’s 3 day steamroller war had it’s one year anniversary yet his fan boys still extoll his virtues – says a lot about such people IMO

    #53838

    Dow 32,816.92 -336.99 -1.02%
    S&P 500 3,970.04 -42.28 -1.05%
    Nasdaq 11,394.94 -195.46 -1.69%
    VIX 21.69 0.55 2.60%
    Gold 1,818.00 -8.80 -0.48%
    Oil 76.57 1.18 1.57%

Viewing 12 posts - 31 through 42 (of 42 total)
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