Traders Market Weekly: Algorithms, Jobs and Holiday Markets

Viewing 15 posts - 31 through 45 (of 75 total)
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  • #68184
    Truman
    Participant

    Market Early Morning

    Dow 35359.40 +25.93 (0.07%)
    Nasdaq 14224.72 -16.31 (-0.11%)
    SP 500 4546.56 -3.87 (-0.09%)
    10-yr Note +2/32 4.38
    NYSE Adv 1061 Dec 1603 Vol 105 mln
    Nasdaq Adv 1359 Dec 2302 Vol 1.10 bln

    Industry Watch
    Strong: utilities, energy, consumer staples, materials, industrials
    Weak: communication services, consumer discretionary, health care

    Moving the Market
    –Some buyer exhaustion following four straight weeks of gains

    –Waiting on earnings reports after the close from CRWD, INTU, NTAP, HPE, and WDAY

    –November Consumer Confidence Index checks in at 102.0 for November (consensus 100.0), up from downwardly revised 99.1 (from 102.6) for October

    #68195

    Interesting article of ROUT in USA bond market
    Rated as worst since CIVIL WAR (as no one wants treasuries)

    https://www.semafor.com/article/11/28/2023/nobody-wants-us-treasury-bonds

    #68196

    Dow 35,416.98 83.51 0.24%
    S&P 500 4,554.89 4.46 0.10%
    Nasdaq 14,281.76 40.73 0.29%
    VIX 12.69 0.00 0.00%
    Gold 2,041.30 28.90 1.44%
    Oil 76.34 1.48 1.98%

    #68208
    MoneyNeverSleeps
    Participant

    CrowdStrike (CRWD) beats by $0.08, beats on revs; guides Q4 EPS above consensus, revs in-line… CRWD down 0.7%
    Hewlett Packard Enterprise (HPE) beats by $0.02, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY24 EPS in-line; reaffirms FY24 revenue growth in cc; raises dividend… HPE up 0.1%
    Intuit (INTU) beats by $0.49, beats on revs; guides JanQ EPS below consensus, revs below consensus; reaffirms FY24 EPS guidance, revs guidance… INTU up 0.5%
    Jabil (JBL) lowers revenue guidance for Q1 and FY24; experiencing softening demand as a result of short-term inventory corrections… JBL down 9.3%
    Leslie’s (LESL) misses by $0.02, beats on revs, comps -11%; guides FY24 EPS below consensus, revs below consensus… LESL down 16.7%
    NetApp (NTAP) beats by $0.19, beats on revs; guides Q3 EPS above consensus, revs in-line; guides FY24 EPS above consensus, revs above consensus… NTAP up 10.2%
    Splunk (SPLK) beats by $0.38, beats on revs; Cisco (CSCO) agreed to acquire company for $157/share on September 21, 2023… SPLK up 0.1%
    UnitedHealth (UNH) issues FY24 guidance; projects EPS in-line with consensus, revs above consensus; reiterates its FY23 EPS forecast… UNH down 0.2%
    Workday (WDAY) beats by $0.12, beats on revs, raises FY24 subscription revenue guidance… WDAY up 5.8%

    #68209
    MoneyNeverSleeps
    Participant

    Las Vegas Sands (LVS) announces launch of $2 bln of common stock offering by its by Dr. Miriam Adelson and The Miriam Adelson Trust… LVS down 3.6%

    #68210
    MoneyNeverSleeps
    Participant

    Fair Value for Wednesday, November 29:

    S&P 500: 4,563
    Nasdaq 100: 16,043
    DJIA: 35,441

    #68211
    MoneyNeverSleeps
    Participant

    U.S. Treasuries are on track for an extension of this week’s gains after a steady rise in the overnight futures market.

    Treasury futures continued rising after yesterday’s cash close, marching steadily higher through the Asian session. The market reached highs around 1:30 ET, followed by some slight backtracking.

    The overnight news flow included the fourth consecutive policy hold from the Reserve Bank of New Zealand and reports that Japan’s Finance Ministry raised its assumed rate for debt servicing for the first time in 17 years in its budget proposal for the upcoming year. In Europe, Spain reported cooler than expected CPI for November while Germany’s recently-released CPI report for November also fit that trend.

    The U.S. session will feature the release of the second estimate of Q3 GDP (consensus 4.9%; prior 4.9%) at 8:30 ET and the Fed will release its latest Beige Book in the early afternoon. Crude oil is returning to its 200-day moving average (78.16) while the U.S. Dollar Index is up 0.1% at 102.82, rising from its lowest level since early August.

    Yield:
    2-yr: -3 bps to 4.70%
    3-yr: -5 bps to 4.42%
    5-yr: -6 bps to 4.23%
    10-yr: -6 bps to 4.28%
    30-yr: -5 bps to 4.47%

    #68220

    Dow 35,430.42 13.44 0.04%
    S&P 500 4,550.58 -4.31 -0.09%
    Nasdaq 14,258.49 -23.27 -0.16%
    VIX 12.98 0.29 2.29%
    Gold 2,065.70 5.50 0.27%
    Oil 77.70 1.29 1.69%

    #68233
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Thursday on a higher note.

    Japan’s Nikkei: +0.5%,
    Hong Kong’s Hang Seng: +0.3%,
    China’s Shanghai Composite: +0.3%,
    India’s Sensex: +0.1%,
    South Korea’s Kospi: +0.6%,
    Australia’s ASX All Ordinaries: +0.7%.

    #68234
    Truman
    Participant

    China’s November Manufacturing PMI 49.4 (expected 49.7; last 49.5) and Non-Manufacturing PMI 50.2 (expected 51.1; last 50.6)

    China’s official PMI readings for November weakened with the Manufacturing PMI (actual 49.4; prior 49.5) dipping further into contractionary territory while Non-Manufacturing PMI (actual 50.2; prior 50.6) also weakened but remained in expansion.

    China will begin requiring permits for exports of certain graphite products, starting tomorrow.

    The Biden administration is expected to publish tax credit rules for electric vehicles tomorrow, which could be a negative for Chinese companies looking to build a presence in the U.S.

    #68235
    Truman
    Participant

    Japan’s
    October Industrial Production 1.0% m/m (expected 0.8%; last 0.5%)
    October Retail Sales 4.2% yr/yr (expected 5.9%; last 6.2%).
    October Housing Starts -6.3% yr/yr (expected -6.8%; last -6.8%)
    November Household Confidence 36.1 (expected 35.6; last 35.7)

    Japan sold 2-yr debt at the lowest bid-to-cover ratio in 14 years.

    The tax chief of Japan’s ruling party said that tax hikes for funding higher defense spending will begin in FY25 or FY26.
    The Bank of Korea left its repurchase rate at 3.50%, as expected.

    #68236
    Truman
    Participant

    South Korea’s

    October Industrial Production -3.5% m/m (expected 0.5%; last 1.7%); 1.1% yr/yr (expected 5.0%; last 2.9%).
    October Retail Sales -0.8% m/m (last 0.1%)

    #68237
    Truman
    Participant

    Hong Kong’s October Retail Sales 5.6% yr/yr (last 13.0%)

    India’s October Infrastructure Output 12.1% yr/yr (last 8.1%)

    New Zealand’s October Building Consents 8.7% m/m (last -4.6%).
    November ANZ Business Confidence 30.8 (last 23.4)

    #68238
    Truman
    Participant

    Australia’s

    October Building Approvals 7.5% m/m (expected 1.4%; last -4.0%); -6.1% yr/yr (last -20.9%).
    Private House Approvals 2.2% m/m (last -4.6%).
    October Private Sector Credit 0.3% m/m (expected 0.4%; last 0.5%).
    Q3 Private New Capital Expenditure 0.6% qtr/qtr (expected 1.0%; last 3.4%)

    #68239
    Truman
    Participant

    The Bank of Korea left its repurchase rate at 3.50%, as expected.

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