- 01 Jun '23 at 10:01 pm #59618TradersComKeymaster
Treasuries settled with gains across the curve.
The 2-yr note yield fell six basis points to 4.33% and the 10-yr note yield fell three basis points to 3.61%.
Energy complex futures settled the session in mixed fashion.
WTI crude oil futures settled back above $70.00/bbl, up 2.9% to $70.13/bbl.
Natural gas futures fell 3.9% to $2.16/mmbtu.
Gold futures settled $13.40 higher (+0.7%) to $1,995.50/oz, posting decent gains though modestly off the $2K level touched earlier in the session.
U.S. Dollar Index is down about -0.7% to $103.57.01 Jun '23 at 10:01 pm #59619TradersComKeymaster
S&P 500 constituents Match Group (MTCH 37.88, +3.38, +9.80%), Baker Hughes (BKR 28.68, +1.43, +5.25%), and Hormel Foods (HRL 40.14, +1.89, +4.94%) top of today’s standings.
MTCH is today’s top performer after an insider buy by the CEO, BKR gains ahead of tomorrow’s rig data, while HRL is higher on earnings/guidance.01 Jun '23 at 10:02 pm #59620MoneyNeverSleepsParticipant
Asana (ASAN) beats by $0.09, beats on revs; guides JulQ EPS above consensus, revs in-line; guides FY24 EPS in-line, revs in-line… ASAN up 5.1%
Broadcom (AVGO) beats by $0.20, reports revs in-line; guides JulQ revs above consensus… AVGO up 0.8%
ChargePoint (CHPT) beats by $0.04, beats on revs; guides Q2 revs below consensus… CHPT down 5.3%
Cooper (COO) beats by $0.04, beats on revs; guides FY23 EPS in-line, revs in-line… COO down 3.5%
Elastic (ESTC) beats by $0.13, reports revs in-line; guides JulQ EPS below consensus, revs below consensus; guides FY24 EPS above consensus, revs below consensus… ESTC down 7.5%
Five Below (FIVE) beats by $0.04, reports revs in-line comps +2.7%; guides Q2 EPS below consensus, revs below consensus; guides FY24 EPS in-line, revs in-line… FIVE up 4.1%
Guidewire Software (GWRE) misses by $0.12, misses on revs; guides Q4 revs in-line; guides FY23 revs below consensus… GWRE down 5.5%
lululemon athletica (LULU) beats by $0.32, beats on revs, comparable sales increased 14%; guides Q2 EPS in-line, revs in-line; guides FY24 EPS above consensus, revs above consensus… LULU up 13.2%
MongoDB (MDB) beats by $0.38, beats on revs; guides JulQ EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus… MDB up 20.8%
PagerDuty (PD) beats by $0.11, reports revs in-line; guides Q2 EPS above consensus, revs below consensus; guides FY24 EPS above consensus, revs below consensus… PD down 14.8%
SentinelOne (S) beats by $0.02, misses on revs; guides Q2 revs below consensus; guides FY24 revs below consensus… S down 35.5%
Stratasys (SSYS) receives unsolicited non-binding indicative proposal from 3D Systems (DDD) to acquire SSYS for $7.50 in cash and 1.2507 newly issued shares of DDD stock per share of SSYS… SSYS up 8.0%
Zscaler (ZS) beats by $0.06, beats on revs; guides Q4 EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus… ZS down 0.8%02 Jun '23 at 7:28 am #59645
Equity indices in the Asia-Pacific region ended the week on a higher note while markets in Singapore were closed for Vesak Day.
Japan’s Nikkei: +1.2% (+2.0% for the week),
Hong Kong’s Hang Seng: +4.0% (+1.1% for the week),
China’s Shanghai Composite: +0.4% (+0.6% for the week),
India’s Sensex: +0.2% (+0.1% for the week),
South Korea’s Kospi: +1.3% (+1.7% for the week),
Australia’s ASX All Ordinaries: +0.6% (UNCH for the week).
Hong Kong’s Hang Seng (+4.0%) outperformed amid speculation that China is preparing a new stimulus package that could be announced around the Politburo’s meeting in July.
02 Jun '23 at 7:29 am #59646
- This reply was modified 6 months, 1 week ago by Truman.
Australia’s minimum wage will be increased by 5.75% on July 1, prompting upward revisions to Reserve Bank of Australia’s terminal cash rate forecasts at ANZ and RBC.
Australia’s April Home Loans -3.8% m/m (expected 3.0%; last 5.5%) and investment lending for homes -0.9% m/m (last 3.4%)02 Jun '23 at 7:29 am #59647
Japan’s May Monetary Base -1.1% yr/yr (expected -1.4%; last -1.7%)
South Korea’s Q1 GDP 0.3% qtr/qtr, as expected (last -0.4%); 0.9% yr/yr (expected 0.8%; last 1.3%). May CPI 0.3% m/m (expected 0.5%; last 0.2%); 3.3% yr/yr, as expected (last 3.7%)
New Zealand’s Q1 Terms of Trade Index -1.5% qtr/qtr (expected -1.3%; last 1.5%)02 Jun '23 at 7:30 am #59649
Major European indices are looking for a higher finish to the week.
STOXX Europe 600: +1.0% (-0.3% week-to-date),
Germany’s DAX: +1.2% (+0.3% week-to-date),
U.K.’s FTSE 100: +1.0% (-0.9% week-to-date),
France’s CAC 40: +1.3% (-1.2% week-to-date),
Italy’s FTSE MIB: +1.1% (+0.5% week-to-date),
Spain’s IBEX 35: +1.0% (+0.7% week-to-date).02 Jun '23 at 7:30 am #59650
France’s April Industrial Production 0.8% m/m (expected 0.3%; last -1.1%)
Spain’s May Unemployment Change -49,300 (expected -40,100; last -73,900)
European Central Bank policymaker Panetta repeated that inflation is too high, but also acknowledged that the ECB is not far from reaching the terminal rate.
Germany’s finance ministry is encouraging other ministries to limit next year’s spending plans to close a EUR20 bln deficit.02 Jun '23 at 7:31 am #59651
The Trade Desk (TTD 75.89, +2.63, +3.6%): upgraded to Overweight from Equal Weight at Morgan Stanley02 Jun '23 at 7:32 am #59652
Nonfarm payrolls rose by 339,000 in May (consensus 190,000) from a revised increase of 294,000 in April (from 253,000). Nonfarm private payrolls rose by 283,000 consensus 177,000) from a revised 253,000 in April (from 230,000).
Average hourly earnings rose by 0.3% in May (consensus 0.3%) following a revised 0.4% incline in April (from 0.5%).
The unemployment rate rose to 3.7% (consensus 3.5%) from 3.4% in April.
The average workweek fell to 34.3 hours (consensus 34.4) from 34.4 hours.02 Jun '23 at 7:33 am #59653
The S&P 500 futures are up 23 points and are trading 0.4% above fair value.
The Nasdaq 100 futures are up 45 points and are trading 0.2% above fair value.
The Dow Jones Industrial Average futures are up 210 points and are trading 0.6% above fair value.
2-yr: +7 bps to 4.40%
3-yr: +6 bps to 4.04%
5-yr: +4 bps to 3.74%
10-yr: +2 bps to 3.63%
30-yr: +1 bp to 3.84%02 Jun '23 at 9:58 am #59660
RALLY TIME on WALL STREET … as DEBT ceiling “lite” may have been only way to compromise 2 strong positions
The speaker pulled off a rare hat-trick to avoid DEBT ceiling just in time (although tax/FICA income is always coming in)
Still, current patterns are unsustainable as GOVT continues to spend like there is no tomorrow
DOW up 550+ and NASDAQ up 135 …. E-Z boys, save some of that dry powder for later rather than on relief rally today
Remember what happened to ICARUS when he flew too high (from HOUSTON TX concert – lol) 🙂
And another great live one from Randy California & company – incredible jam on every instrument02 Jun '23 at 12:04 pm #59663
Ohhhhh the humanity … ARLENE has been born – but should sheer in gulf into heavy rainstorms for coast 🙂02 Jun '23 at 1:13 pm #59665
All BEARS have retreated from WALL STREET back to top of their mtn.
Even though a cautious investor & safely parked a little too early from VITAX to 100% in KASH after 25% Q1 gain
There will always be downdrafts & corrections ahead. And hopefully we’ll see more middle ground
The WALL STREET BULLS are on the run — and hopeful USA economy continues to hold up in months ahead 🙂
02 Jun '23 at 2:07 pm #59673
- This reply was modified 6 months, 1 week ago by CautiousInvestor.
Dow 33,762.76 701.19 2.12%
S&P 500 4,282.37 61.35 1.45%
Nasdaq 13,240.77 139.78 1.07%
VIX 14.45 -1.20 -7.67%
Gold 1,964.70 -30.80 -1.54%
Oil 71.93 1.83 2.61%
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