- This topic has 58 replies, 4 voices, and was last updated 2 months ago by
.
- Posts
Dow 33,044.56 -252.40 -0.76%
S&P 500 3,898.85 -30.01 -0.76%
Nasdaq 10,852.27 -104.74 -0.96%
VIX 20.52 0.18 0.88%
Gold 1,933.80 26.80 1.41%
Oil 80.58 1.10 1.38%HELEN RODGERS 2000 – voice of an angel from 1 of best albums all time 🙂
Nordstrom Down sharply after significantly lowers FY22 EPS guidance,
Company took additional markdowns to finish year with healthy inventory position
Pre-Market: $JWN 16.40 -1.05 (-6.02%)Those Big Tech job cuts keep coming… (Fed happy)
Alphabet decided to reduce its workforce by approximately 12,000 roles.
+ India Supreme Court will not block Google antitrust ruling, according to Reuters
$GOOG 96.49 +2.57 (+2.74%) Pre-MarketWayfair gapping up to $W $42.50 +3.59 (+9.23%) pre-Market:
(More JobCuts)
After details update to cost efficiency plan – to reduce workforce by ~10%; expected to accelerate the timeline for adj EBITDA breakeven to earlier in 2023 UpdateEquity indices in the Asia-Pacific region ended the week on a mostly higher note.
Japan’s Nikkei: +0.6% (+1.7% for the week),
Hong Kong’s Hang Seng: +1.8% (+1.4% for the week),
China’s Shanghai Composite: +0.8% (+2.2% for the week),
India’s Sensex: -0.4% (+0.6% for the week),
South Korea’s Kospi: +0.6% (+0.4% for the week),
Australia’s ASX All Ordinaries: +0.2% (+1.7% for the week).Japan’s December CPI 0.2% m/m (last 0.2%); 4.0% yr/yr (last 3.8%). December National Core CPI 4.0% yr/yr, as expected (last 3.7%)
South Korea’s December PPI -0.3% m/m (last -0.3%); 6.0% yr/yr (last 6.2%)
Hong Kong’s December CPI 2.0% yr/yr (expected 1.9%; last 1.8%)
New Zealand’s December Business NZ PMI 47.2 (last 47.4)
Japan’s core CPI was up 4.0% yr/yr in December, representing the sharpest rate of increase since 1982.
The People’s Bank of China made no changes to its one-year and five-year loan prime rates.Markets in China, Hong Kong, South Korea, and Singapore will be closed on Monday for Lunar New Year celebrations.
Major European indices are looking for a higher finish to the week.
STOXX Europe 600: +0.1% (-0.3% week-to-date),
Germany’s DAX: +0.3% (-0.7% week-to-date),
U.K.’s FTSE 100: +0.2% (-1.1% week-to-date),
France’s CAC 40: +0.6% (-0.4% week-to-date),
Italy’s FTSE MIB: +0.7% (-0.1% week-to-date),
Spain’s IBEX 35: +1.1% (+0.1% week-to-date).Germany’s December PPI -0.4% m/m (expected -1.2%; last -3.9%); 21.6% yr/yr (expected 20.8%; last 28.2%)
U.K.’s December Retail Sales -1.0% m/m (expected 0.5%; last -0.5%); -5.8% yr/yr (expected -4.1%; last -5.7%). December Core Retail Sales -1.1% m/m (expected 0.4%; last -0.3%); -6.1% yr/yr (expected -4.4%; last -5.6%)
December retail sales in the U.K. fell at their fastest pace for the month since the start of the series in 1989.
British Chancellor of the Exchequer Hunt cautioned against expecting a tax cut in the March budget.
European Commissioner for trade Dombrovskis said that growth in the region has been above expectations and that a recession will probably be avoided.
French Finance Minister Le Maire said that his government will continue pursuing planned pension reforms.Friday Earnings:
PPG Industries (PPG 126.86, +3.26, +2.6%): beats by $0.09, beats on revs; guides Q1 EPS below consensus
Ally Financial (ALLY 27.41, +1.22, +4.7%): beats by $0.08
Regions Financial (RF 22.10, +0.41, +1.9%): beats by $0.06, beats on revs; sees total FY23 adjusted revenue growth of +8-10% to $7.73-7.88 bln vs. $7.805 bln Capital IQ consensus
SLB (SLB 58.23, +0.85, +1.5%): beats by $0.03, beats on revs; raises dividendThe S&P 500 futures are up 12 points and are trading 0.3% above fair value.
The Nasdaq 100 futures are up 84 points and are trading 0.7% above fair value.
The Dow Jones Industrial Average futures are up 1 point and are trading slightly below fair value.Netflix (NFLX 338.40, +22.62, +7.2%) is moving noticeably higher this morning after reporting earnings and announcing new co-CEOs while Nordstrom (JWN 16.35, -1.10, -6.3%) is a top laggard after significantly lowering FY22 EPS guidance.
Alphabet (GOOG 97.05, +3.14, +3.3%) is among the more influential winners following news that GOOG plans to reduce its workforce by approximately 12,000 roles. Also, India’s Supreme Court will not block Google antitrust ruling, according to Reuters.
The 2-yr note yield is up five basis points to 4.17% and the 10-yr note yield is up three basis points to 3.43%.
Dow 33,375.49 330.93 1.00%
S&P 500 3,972.61 73.76 1.89%
Nasdaq 11,140.43 288.17 2.66%
VIX 19.77 -0.75 -3.65%
Gold 1,929.00 5.10 0.27%
Oil 81.40 1.07 1.33%January 22 – 28 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week
[See the full post at: Traders Market Weekly: Big Tech Earnings and Global PMI]
- You must be logged in to reply to this topic.