Traders Market Weekly: Jobs, Inflation and PMI Pressures

Viewing 15 posts - 31 through 45 (of 63 total)
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  • #42426
    Truman
    Participant

    Dow -36.37 at 33029.12, Nasdaq +34.00 at 12415.53, S&P +5.55 at 4143.61

    The S&P 500 is modestly higher while the Dow flirts with the unchanged mark.

    Mega caps are relatively weak with the Vanguard Mega Cap Growth ETF (MGK) up 0.1% versus a 0.2% gain in the S&P 500 and Invesco S&P 500 Equal Weight ETF (RSP).

    Most S&P 500 sectors are higher with the defensive-oriented utilities (-0.5%), health care (-1.2%), and consumer staples (-0.6%) near the bottom of the pack.

    #42437

    Dow 32,909.59 -154.02 -0.47%
    S&P 500 4,128.73 -9.26 -0.22%
    Nasdaq 12,381.30 -0.27 -0.00%
    GlobalDow 3,637.81 1.18 0.03%
    Gold 1,760.40 12.00 0.69%
    Oil 93.58 3.22 3.56%

    #42446
    TradersCom
    Keymaster

    After-Hours Spotlight:

    Advance Auto (AAP) misses by $0.01, misses on revs, comparable store sales down 0.6%; lowers FY22 EPS and revenue guidance below consensus… AAP down 5.8%
    Datadog (DDOG) announces it achieves Amazon Web Services (AWS) security, networking and retail competencies… DDOG up 0.6%
    Intuit (INTU) beats by $0.12, beats on revs; guides OctQ EPS below consensus, revs below consensus; guides FY23 EPS in-line, revs in-line… INTU up 5.0%
    La-Z-Boy (LZB) beats by $0.24, beats on rev; expects 2Q23 delivered sales to increase by 2-5% yr/yr… LZB up 7.4%
    Nordstrom (JWN) beats by $0.01, beats on revs; lowers FY23 EPS below consensus, revs mostly below consensus… JWN down 12.9%
    Paycor (PYCR) beats by $0.02, beats on revs; guides Q1 (Sep) revs above consensus; guides FY23 revs above consensus… PYCR up 3.1%
    Tattooed Chef (TTCF) expands distribution agreement with Walmart (WMT) that will increase availability of its products at Walmart stores across the U.S…. TTCF up 10.9%
    Toll Brothers (TOL) beats by $0.06, reports revs in-line, Q3 deliveries were below guidance, lowers FY22 deliveries guidance; saw significant decline in demand as Q3 progressed… TOL down 2.6%
    Urban Outfitters (URBN) misses by $0.06, reports revs in-line; comparable retail segment net sales up 1%, gross margin down 595 bps yr/yr… URBN down 1.6%

    #42447
    TradersCom
    Keymaster

    Fair Value for Wednesday, August 24th:

    S&P 500: 4,131
    Nasdaq 100: 12,896
    DJIA: 32,897

    #42471
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.

    —Equity Markets—

    Japan’s Nikkei: -0.5%
    Hong Kong’s Hang Seng: -1.2%
    China’s Shanghai Composite: -1.9%
    India’s Sensex: +0.1%
    South Korea’s Kospi: +0.5%
    Australia’s ASX All Ordinaries: +0.6%

    #42472
    Truman
    Participant

    Hong Kong-listed shares of developer Logan Group fell 51% after returning from a three-month halt.
    Chinese banks are reportedly lowering their mortgage rates.
    Japan will reportedly consider extending the lifespan of its nuclear plants and will support the development of new reactors.
    South Korea’s budget for 2023 will be presented to parliament on September 2.
    South Korea’s September Manufacturing BSI Index 82 (last 80)

    #42473
    Truman
    Participant

    Major European indices trade near their flat lines.

    —Equity Markets—

    STOXX Europe 600: +0.1%
    Germany’s DAX: -0.1%
    U.K.’s FTSE 100: -0.4%
    France’s CAC 40: +0.1%
    Italy’s FTSE MIB: -0.3%
    Spain’s IBEX 35: -0.5%

    #42474
    Truman
    Participant

    Italy’s Prime Minister Draghi said that a plan to cap the price of gas will be presented at the next EU Council meeting while the U.K.
    is planning an energy price cap of its own.
    Belgium’s Prime Minister De Croo warned that the next five to ten winters will be “difficult” due to the ongoing energy crisis.in-line

    #42475
    Truman
    Participant

    The S&P 500 futures are up 8 points and are trading 0.1% above fair value.
    The Nasdaq 100 futures are up 29 points and are 0.1% above fair value.
    The Dow Jones Industrial Average futures are up 31 points and are trading 0.1% above fair value.

    #42476
    Truman
    Participant

    Nordstrom (JWN 20.23, -2.97, -12.80%): beats by $0.01, beats on revs; lowers FY23 EPS below consensus, revs mostly below consensus; Plans to take aggressive action to clear through inventory in 2H22
    Advance Auto (AAP 187.00, -12.05, -6.05%): misses by $0.01, misses on revs, comparable store sales down 0.6%; lowers FY22 EPS and revenue guidance below consensus
    Toll Brothers (TOL 44.20, -1.43, -3.13%): beats by $0.06, reports revs in-line, Q3 deliveries were below guidance, lowers FY22 deliveries guidance; saw significant decline in demand as Q3 progressed
    Brinker (EAT 27.70, -2.64, -8.70%): misses by $0.02, reports revs in-line; guides FY23 EPS below consensus, revs in-line
    Bed Bath & Beyond (BBBY 11.06, +2.28, +25.97%): secured financing source, according to WSJ
    La-Z-Boy (LZB 30.24, +1.91, +6.74%): beats by $0.24, beats on rev; expects 2Q23 delivered sales to increase by 2-5% yr/yr
    Urban Outfitters (URBN 21.35, -0.49, -2.24%): misses by $0.06, reports revs in-line; comparable retail segment net sales up 1%, gross margin down 595 bps yr/yr
    Intuit (INTU 474.12, +24.56, +5.46%): beats by $0.12, beats on revs; guides OctQ EPS below consensus, revs below consensus; guides FY23 EPS in-line, revs in-line

    #42478

    ^^^^^ +1s on key market breaking news above

    AUG 29 – Artemis I returns to moon (unmanned)
    and one of my FAV space events occurred over 50 years ago
    although at 1st the powers that be didn’t want a reading from the good book
    Everyone was glad they did it 🙂

    #42500

    Dow 32,970.15 60.56 0.18%
    S&P 500 4,140.88 12.15 0.29%
    Nasdaq 12,431.53 50.23 0.41%
    GlobalDow 3,640.91 -0.24 -0.01%
    Gold 1,765.40 4.20 0.24%
    Oil 95.24 1.50 1.60%

    One of greatest SUMMER albums of all time … as soon Summer of 2022 will end

    #42521
    Truman
    Participant

    Major European indices modestly higher note while DAX outperforms.
    #STOXX Europe 600: +0.2%,
    #Germany’s DAX: +0.6%,
    #UK FTSE 100: +0.3%,
    #France’s CAC 40: +0.2%,
    #Italy FTSE MIB: +0.3%,
    #Spain’s IBEX 35: +0.2%

    #42522
    Truman
    Participant

    Equity indices in Asia-Pacific Thursday mostly higher
    #Japan’s Nikkei: +0.6%,
    #HongKong’s Hang Seng: +3.6%,
    #China’s Shanghai Composite: +1.0%,
    #India Sensex: -0.5%,
    #SouthKorea’s Kospi: +1.2%,
    #Australia ASX All Ordinaries: +0.7%.

    #42523
    Truman
    Participant

    Snowflake (SNOW 189.39, +29.90, +18.75%): reports Q2 results, beats on revs; raises FY23 product revenue guidance, raises non-GAAP gross margin guidance
    Salesforce (CRM 167.43, -12.58, -6.99%): beats by $0.16, reports revs in-line; guides OctQ EPS and revs below consensus; guides FY23 EPS and revs below consensus; announces $10 bln share repurchase authorization
    Splunk (SPLK 99.41, -10.95, -9.92%): beats by $0.44, beats on revs; guides Q3 revs above consensus; guides FY23 revs above consensus
    Autodesk (ADSK 234.02, +19.59, +9.14%): beats by $0.08, reports revs in-line; guides Q3 (Oct) EPS mostly above consensus, revs above consensus; guides FY23 EPS mostly above consensus, revs in-line
    NVIDIA (NVDA 166.15, -6.07, -3.52%): misses by $0.01, reports revs in-line; guides Q3 revs below consensus due to a sequential decline in Gaming and Professional Visualization revs as OEMs reduce inventory levels to align with demand
    Peloton (PTON 11.33, -2.15, -15.95%): misses by $2.91, reports revs in-line; guides Q1 revs below consensus
    Amazon (AMZN 135.24, +1.44, +1.08%): ticks higher on report it plans to shut down its telehealth offering, according to Washington Post
    Dollar General (DG 241.90, -5.55, -2.24%): beats by $0.04, reports revs in-line; guides FY23 EPS in-line, revs above consensus
    NetApp (NTAP 77.77, +4.95, +6.80%): beats by $0.10, beats on revs; guides Q2 EPS in-line, revs in-line; reaffirms FY23 EPS guidance, revs guidance
    Williams-Sonoma (WSM 165.11, +2.67, +1.64%): beats by $0.37, beats on revs, comps +11.3%; reaffirms its FY22 and long-term financial outlook
    Dollar Tree (DLTR 153.12, -12.86, -7.75%): misses by $0.02, reports revs in-line; guides Q3 EPS below consensus, revs below consensus; guides FY23 EPS below consensus, revs below consensus
    Tesla (TSLA 303.51, +6.41, +2.16%): 3-for-1 stock split goes into effect today

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