Traders Market Weekly: America on Show; Big Oil, Apple, FOMC and Boeing

Viewing 15 posts - 16 through 30 (of 84 total)
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  • #70533

    Dow 38,001.81 138.01 0.36%
    S&P 500 4,850.43 10.62 0.22%
    Nasdaq 15,360.29 49.32 0.32%
    VIX 13.21 -0.09 -0.68%
    Gold 2,022.00 -7.30 -0.36%
    Oil 75.01 1.60 2.18%https://www.youtube.com/watch?v=0LwcvjNJTuM
    BITCOIN 40,010

    SUPER GREEN & songs of celebration for RECORD-HIGHS 🙂

    #70655
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Tuesday on a mixed note with markets in China and Hong Kong recovering some of their recent losses amid reports that officials are considering imminent stimulus to support stocks that would be worth about $280 bln.

    —Equity Markets—

    Japan’s Nikkei: -0.1%
    Hong Kong’s Hang Seng: +2.6%
    China’s Shanghai Composite: +0.5%
    India’s Sensex: -1.5%
    South Korea’s Kospi: +0.6%
    Australia’s ASX All Ordinaries: +0.5%

    #70656
    Truman
    Participant

    China
    China Securities Journal speculated that the loan prime rate could be lowered this quarter.
    Reports that officials are considering imminent stimulus to support stocks that would be worth about $280 bln.

    #70657
    Truman
    Participant

    Japan
    The Bank of Japan did not make any policy changes, though it did lower its forecast for core CPI for fiscal 2024 to 2.4% from 2.8% while the outlook for fiscal 2025 was increased to 1.8% from 1.7%.

    Bank of Japan Maintains Status Quo, Core Inflation Forecasts Trimmed

    Former BoJ chief economist reportedly expects that negative rate policy will be ended in either March or April.

    December BoJ Core CPI 2.6% yr/yr (expected 2.8%; last 2.7%)

    #70658
    Truman
    Participant

    Australia
    December NAB Business Survey 7 (last 9) and Business Confidence -1 (last -8)

    #70659
    Truman
    Participant

    South Korea
    December PPI 0.1% m/m (last -0.4%); 1.2% yr/yr (last 0.6%)

    Singapore
    December CPI 0.4% m/m (last -0.2%); 3.7% yr/yr (expected 3.5%; last 3.6%).
    December Core CPI 3.3% yr/yr (expected 3.1%; last 3.2%)

    #70660
    Truman
    Participant

    Major European indices trade in the red.

    —Equity Markets—

    STOXX Europe 600: -0.1%
    Germany’s DAX: -0.1%
    U.K.’s FTSE 100: -0.1%
    France’s CAC 40: -0.4%
    Italy’s FTSE MIB: -0.5%
    Spain’s IBEX 35: -0.9%

    #70661
    Truman
    Participant

    The European Central Bank’s quarterly bank lending survey for Q4 showed a moderate tightening in credit standards with an expectation of more tightening during Q1.

    Ericsson beat Q4 expectations but warned about waning demand for 5G equipment in 2024.

    French farmers expanded their protests against excessive regulation.

    #70664
    Truman
    Participant

    Earnings:

    Hits
    United Airlines (UAL 40.93, +2.48, +6.5%): beats by $0.30, reports revs in-line; guides Q1 EPS below consensus; guides FY24 EPS in-line; Boeing (BA) Max-9 issues will be a three point headwind to seat miles
    Verizon (VZ 41.40, +1.82, +4.6%): reports EPS in-line, beats on revs; guides FY24 EPS in-line
    Procter & Gamble Higher After Earnings: $PG 154.13 +6.27 (+4.24%) today
    EPS beats by $0.14, revs in-line; Raises FY24 EPS in-line, Reaffirms FY24 revs guidance
    RTX (RTX 8.46, +3.44, +4.1%): beats by $0.05, reports revs in-line; guides FY24 EPS in-line, revs below consensus
    Lockheed Martin (LMT 461.06, +2.30, +0.5%): beats by $0.61, beats on revs; guides FY24 revs in-line

    Misses
    General Electric (GE 126.98, -4.25, -3.2%): beats by $0.13, beats on revs; guides Q1 EPS below consensus, revs above consensus
    Johnson & Johnson (JNJ 162.14, -0.33, -0.2%): beats by $0.01, beats on revs; reaffirms FY24 EPS guidance, revs guidance
    3M (MMM 99.89, -8.13, -7.6%): beats by $0.11, beats on revs; guides FY24 EPS below consensus
    D.R. Horton (DHI 150.00, -7.70, -4.9%): misses by $0.05, beats on revs; reaffirms FY24 revs guidance

    #70665
    Truman
    Participant

    A jump in market rates has contributed to the muted action in equities this morning.
    The 10-yr note yield is up four basis points to 4.13% and the 2-yr note yield is up two basis points to 4.38%.

    Johnson & Johnson (JNJ), 3M (MMM), and General Electric (GE) are some of the names trading down on their quarterly results while Procter & Gamble (PG), Verizon (VZ), and United Airlines (UAL) show pre-open gains.

    China is reportedly considering a stock market stabilization package backed by $278 billion.

    #70666
    Truman
    Participant

    S&P 500 futures are up three points and are trading 0.1% above fair value,
    Nasdaq 100 futures are up 20 points and are trading 0.2% above fair value,
    Dow Jones Industrial Average futures are down 45 points and are trading 0.1% below fair value.

    #70667
    Truman
    Participant

    Morning Market
    Dow 37829.72 -172.09 (-0.45%)
    Nasdaq 15352.96 -7.33 (-0.05%)
    SP 500 4845.77 -4.66 (-0.10%)
    10-yr Note -25/32 4.143
    NYSE Adv 1109 Dec 1563 Vol 212 mln
    Nasdaq Adv 1864 Dec 2192 Vol 2.2 bln

    Industry Watch
    Strong: Communication Services, Energy, Consumer Staples, Materials
    Weak: Health Care, Utilities, Financials, Real Estate

    Moving the Market
    — Digesting slate of earnings from blue chip names, which received mixed reactions
    — Modest profit-taking activity after DJIA and S&P 500 reach fresh all-time highs
    — Increase in market rates
    — Ongoing strength in some mega cap names
    — Waiting on more earnings this week, and some potentially market-moving economic data

    Market breadth was positive shortly after the open, but now reflects a slightly negative bias. Decliners lead advancers by a 3-to-2 margin at the NYSE and by a 4-to-3 margin at the Nasdaq.

    Consumer staples sector is outperforming thanks in part to the gain in Procter & Gamble (PG 154.09, +6.24, +4.2%).

    #70669
    TradersCom
    Keymaster

    Longer-dated Treasuries added to their initial losses while shorter tenors continue hovering near their opening levels.

    Yield:

    2-yr: +3 bps to 4.41%
    3-yr: +3 bps to 4.17%
    5-yr: +3 bps to 4.05%
    10-yr: +4 bps to 4.14%
    30-yr: +5 bps to 4.37%

    #70683
    TradersCom
    Keymaster

    US dollar index hits Six Week Highs above 103.7, strength in #USDCHF, #USDJPY, weakness in #EURUSD follows:
    Higher Yields
    #BOJ meeting
    Stronger-than-expected US data
    40% chance of March Fed rate cut in March, down significantly from 63% a week ago

    #70714

    Dow 37,905.45 -96.36 -0.25%
    S&P 500 4,864.60 14.17 0.29%
    Nasdaq 15,425.94 65.66 0.43%
    VIX 12.55 -0.64 -4.85%
    Gold 2,030.60 8.40 0.42%
    Oil 74.51 -0.68 -0.90%

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