Traders Market Weekly: Robots, Dribbler Enthusiasm and Short Squeezes

Viewing 13 posts - 61 through 73 (of 73 total)
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  • #42173
    Truman
    Participant

    Dow -114.97 at 33867.23, Nasdaq -57.67 at 12880.41, S&P -10.54 at 4263.57

    The stock market opened modestly lower amid mixed earnings reports and economic data ahead of the open.

    Mega caps are limiting index performance with the Vanguard Mega Cap Growth ETF (MGK) down 0.5% versus a 0.1% loss in the S&P 500 and Invesco S&P 500 Equal Weight ETF (RSP).

    WTI crude oil futures are back above $90.00/bbl, up 2.3% to $90.18/bbl. This is boosting the S&P 500 energy sector (+2.3%), which sits atop the leaderboard. Notably, it’s the only sector to move more than 1.0% in either direction.

    #42174
    Truman
    Participant

    U.S. Treasuries continue trading near their opening highs with the 3-yr note trading slightly ahead of other tenors.

    Treasuries marked highs during the first few minutes of action, followed by a pullback that briefly returned most tenors to their flat lines, but that’s where the market bounced, heading back to highs.

    2-yr: -2 bps to 3.25%
    3-yr: -4 bps to 3.24%
    5-yr: -4 bps to 3.01%
    10-yr: -3 bps to 2.86%
    30-yr: -3 bps to 3.12%

    #42190

    Dow 33,999.04 18.72 0.06%
    S&P 500 4,283.74 9.70 0.23%
    Nasdaq 12,965.34 27.22 0.21%
    GlobalDow 3,728.46 -0.36 -0.01%
    Gold 1,773.10 -3.60 -0.20%
    Oil 90.48 2.37 2.69%

    #42231
    Truman
    Participant

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

    —Equity Markets—

    Japan’s Nikkei: UNCH (+1.3% for the week)
    Hong Kong’s Hang Seng: +0.1% (-2.0% for the week)
    China’s Shanghai Composite: -0.6% (-0.6% for the week)
    India’s Sensex: -1.1% (+0.3% for the week)
    South Korea’s Kospi: -0.6% (-1.4% for the week)
    Australia’s ASX All Ordinaries: UNCH (+1.0% for the week)

    #42232
    Truman
    Participant

    Asia-Pacific region

    Japan’s Core CPI was up 2.4% yr/yr in July, representing the fastest rate of increase since 2014.
    Japan is seeking to set up a summit with China’s leadership.
    Samsung will reportedly invest $15 bln into a new semiconductor research facility in South Korea.
    Indonesia is reportedly looking to implement a tax on nickel exports.
    Japan’s July National CPI 0.5% m/m (last 0.0%); 2.6% yr/yr (last 2.4%). July National Core CPI 2.4% yr/yr, as expected (last 2.2%)
    New Zealand’s July trade deficit NZD1.09 bln (last deficit of NZD1.10 bln). July Credit Card Spending 4.9% yr/yr (last 3.9%)

    #42233
    Truman
    Participant

    Major European indices trade on a mostly lower note with the U.K.’s FTSE (+0.1%) showing relative strength even though the GfK Consumer Confidence index for August fell to a fresh record low.

    —Equity Markets—

    STOXX Europe 600: -0.4% (-0.4% week-to-date)
    Germany’s DAX: -0.7% (-1.4% week-to-date)
    U.K.’s FTSE 100: +0.1% (+0.6% week-to-date)
    France’s CAC 40: -0.5% (-0.5% week-to-date)
    Italy’s FTSE MIB: -1.4% (-1.3% week-to-date)
    Spain’s IBEX 35: -0.9% (-0.5% week-to-date)

    #42234
    Truman
    Participant

    Europe

    U.K.’s GfK Consumer Confidence index for August fell to a fresh record low.
    Germany’s PPI was up 37.2% yr/yr in July, accelerating past its peak from May.
    Germany’s economy ministry released its monthly report, observing a gloomy outlook due to high energy prices and continued supply chain issues.
    Eurozone’s June Current Account surplus EUR4.20 bln (last deficit of EUR4.50 bln)
    Germany’s July PPI 5.3% m/m (expected 0.6%; last 0.6%); 37.2% yr/yr (expected 32.0%; last 32.7%)
    U.K.’s July Retail Sales 0.3% m/m (expected -0.2%; last -0.2%); -3.4% yr/yr (expected -3.3%; last -6.1%). July Core Retail Sales 0.4% m/m (expected -0.2%; last 0.2%); -3.0% yr/yr (expected -3.1%; last -6.2%). July Public Sector Net Borrowing GBP4.18 bln (expected GBP25.30 bln; las GBP20.09 bln). August GfK Consumer Confidence -44 (expected -42; last -41)

    #42235
    Truman
    Participant

    Foot Locker (FL 38.40, +6.42, +20.08%): beats by $0.29, reports revs in-line; guides FY23 EPS in-line, revs below consensus; announces CEO transistion
    Deere (DE 348.00, -19.99, -5.43%): misses by $0.52, beats on revs; lowers top end of FY22 net income guidance
    Applied Materials (AMAT 108.42, +0.15, +0.14%): beats by $0.15, beats on revs; guides Q4 (Oct) EPS in-line, revs in-line
    Bill.com (BILL 173.30, +23.90, +16.00%): beats by $0.11, beats on revs; guides Q1 (Sep) EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus; appoints Sofya Pogreb as COO
    Bed Bath & Beyond (BBBY 10.64, -7.91, -42.64%): heads lower on SEC filing that Ryan Cohen completed sale of BBBY stake; hired law firm to help it address a debt load that has become unmanageable, according to Bloomberg Law
    MSG Entertainment (MSGE 64.00, +1.30, +2.07%): reports Q4 (Jun) results, beats on revs
    Meta Platforms (META 171.07, -3.59, 2.06%): Morgan Stanley cuts price target to $225 from $280 but kept its overweight rating
    HP Inc. (HPQ 33.81, -1.42, -4.03%): downgraded to Underweight from Equal Weight at Wells Fargo

    #42236
    Truman
    Participant

    The S&P 500 futures are down 34 points and are trading 0.9% below fair value.
    The Nasdaq 100 futures are down 145 points and are 1.2% below fair value.
    The Dow Jones Industrial Average futures are down 199 points and are trading 0.5% below fair value.

    GameStop (GME 34.64, -3.29, -8.6%),
    AMC Entertainment (AMC 17.76, -1.53, -7.9%),
    Bed Bath & Beyond (BBBY 11.51, -7.04, -37.9%)
    big downside moves following the news that Ryan Cohen completed the sale of his BBBY stake and reports the company has hired a law firm to help address its debt load.

    #42237
    Truman
    Participant

    Dow -245.69 at 33755.23, Nasdaq -215.20 at 12750.10, S&P -42.53 at 4241.28

    The market opened lowers and continues to add to its losses thus far. Mega caps are leading the market lower at the open with the Vanguard Mega Cap Growth ETF (MGK) down 1.6% versus a 1.2% loss in the Invesco S&P 500 Equal Weight ETF (RSP) and a 1.1% loss in the S&P 500.

    Only one S&P 500 sector is higher, health care (+0.1%), while mega cap-heavy sectors, consumer discretionary (-1.6%), communication services (-1.5%), and information technology (-1.5%), are near the bottom of the pack.

    Separately, the CBOE VIX Index is up 5.1%, or 0.97, 20.53.

    #42245

    ^^^^ +1s for posts above & wish all a great weekend ahead
    The Jim Cramer, SELL, SELL, SELL in effect due to “housing recession”
    and aggressive action hinted by FED for 75 v 50 BPS
    and high gas prices + inflation are definitely hurting the POOR in our nation
    and hopeful we’ll see improvement in days ahead

    #42246

    Dow 33,706.54 -292.50 -0.86%
    S&P 500 4,228.45 -55.29 -1.29%
    Nasdaq 12,705.22 -260.13 -2.01%
    GlobalDow 3,689.46 -45.52 -1.22%
    Gold 1,760.70 -10.50 -0.59%
    Oil 90.11 -0.39 -0.43%

    #42285
    MoneyNeverSleeps
    Participant

    “It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett

    Thought of that with the latest on OXY – the ESG are likely all hating on Warren now.

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