Traders Market Weekly: Holiday Shopping Season Kicking Off

Viewing 15 posts - 16 through 30 (of 88 total)
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  • #67710
    MoneyNeverSleeps
    Participant

    Selling pressure in bonds hitting longer-dated maturities have borne the brunt of the selling interest, but weakness can be seen across the curve.
    The 10-yr note yield, at 4.69%, has pushed above last week’s highs, which has invited some added technical pressure.
    The 2s10s spread sits at -38 bps versus -42 bps at Friday’s settlement.
    Stocks have started their session on a soft note, weighed down some by the bump in rates. S&P 500 is down 0.4% and Nasdaq Composite is down 0.7%.
    Yield:
    2-yr: +2 bps to 5.07%
    3-yr: +4 bps to 4.86%
    5-yr: +4 bps to 4.71%
    10-yr: +6 bps to 4.69%
    30-yr: +7 bps to 4.80%

    #67720

    Dow 34,337.87 54.77 0.16%
    S&P 500 4,411.55 -3.69 -0.08%
    Nasdaq 13,767.74 -30.36 -0.22%
    VIX 14.78 0.61 4.30%
    Gold 1,950.40 12.70 0.66%
    Oil 78.62 1.45 1.88%

    #67722
    MoneyNeverSleeps
    Participant

    Fisker (FSR) misses by $0.04, misses on revs; delivered more cars in October than the entire Q3; to delay 10-Q filing… FSR down 11.7%

    #67723
    MoneyNeverSleeps
    Participant

    Harrow (HROW) misses by $0.13, misses on revs; guides FY23 revs below consensus; guides FY24 revs below consensus… HROW down 17.0%

    #67724
    MoneyNeverSleeps
    Participant

    The Beauty Health Company (SKIN) reports Q3 (Sep) results, misses on revs; guides FY23 revs below consensus; CEO Andrew Stanleick to depart, effective November 19; Marla Beck to serve as Interim CEO… SKIN down 39.0%

    #67725
    MoneyNeverSleeps
    Participant

    Fair Value for Tuesday, November 14:

    S&P 500: 4,427
    Nasdaq 100: 15,545
    DJIA: 34,395

    #67726

    RALLY TIME DOOMERS … Futures are exploding upwards over 1% after 3.2% tame inflation reading
    “As goeth OIL, so goeth future price of items — as oil/gas prices factor into all consumer goods)

    #67732
    Truman
    Participant

    Equity indices in the Asia-Pacific region trended mostly higher in Tuesday’s trade, drawing some support from the resilience seen on Wall Street and speculation about a possible stimulus push in China.

    Japan’s Nikkei: +0.4%,
    Hong Kong’s Hang Seng: -0.2%,
    China’s Shanghai Composite: +0.3%,
    India’s Sensex: closed for holiday,
    South Korea’s Kospi: +1.2%,
    Australia’s All Ordinaries: +0.9%.

    #67733
    Truman
    Participant

    Bloomberg reports that China is considering $137 billion in new funding for its housing market.
    Press reports are highlighting the potential for a cut in the required reserve ratio by the end of the year.
    Reuters notes that China is telling local governments to stop public-private partnership projects that are seen as problematic.

    #67734
    Truman
    Participant

    South Korea’s October Export Price Index -9.5% yr/yr (last -8.9%) and Import Price Index -10.2% yr/yr (last -9.6%)

    #67735
    Truman
    Participant

    Australia’s November Westpac Consumer Confidence 79.9 (last 82.0); October NAB Business Confidence -2 (last 0)
    h.

    #67736
    Truman
    Participant

    India’s October WPI Inflation -0.52% yr/yr (expected -0.20%; last -0.26%)

    #67737
    Truman
    Participant

    The yen’s ongoing weakness has been problematic, triggering expectations for an intervention effort.
    A spike seen overnight was dismissed as a function of an options position expiration.
    Finance Minister Suzuki repeated that excessive moves in the currency market are undesirable.
    USD/JPY currently flat at 151.72 with 152.0 seen by some as the potential bogey now for an official intervention push.

    #67738
    Truman
    Participant

    Major European indices are trading mostly higher with modest gains in front of the U.S. CPI Report’s release at 8:30 a.m. ET.

    STOXX Europe 600: +0.1%,
    Germany’s DAX: +0.5%,
    UK’s FTSE 100: -0.4%,
    France’s CAC 40: +0.2%,
    Italy’s FTSE MIB: +0.5%,
    Spain’s IBEX 35: +0.5%.

    #67739
    Truman
    Participant

    Trading sentiment found some support in better than expected November ZEW Economic Sentiment readings for the eurozone and Germany.

    Eurozone’s Q3 GDP -0.1% qtr/qtr (expected -0.1%; last 0.2%); employment change 0.3% qtr/qtr (expected 0.1%; last 0.1%); November ZEW Economic Sentiment 13.8 (expected 6.1; last 2.3)
    Germany’s November ZEW Economic Sentiment 9.8 (expected 5.0; last -1.1)

Viewing 15 posts - 16 through 30 (of 88 total)
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