Traders Market Weekly: Market Combustion, Short Squeeze Meets Fed Pivot

Viewing 15 posts - 46 through 60 (of 62 total)
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  • #68866
    Truman
    Participant

    Australia’s
    Jibun Bank Manufacturing PMI 47.8 (last 47.7)
    Jibun Bank Services PMI 47.6 (last 46.0)

    #68867
    Truman
    Participant

    Major European indices are mixed with modest changes on either side of the unchanged line.
    STOXX Europe 600: +0.2% (+1.2% for the week),
    Germany’s DAX: +0.4% (+0.3% for the week),
    UK’s FTSE 100: -0.5% (+0.8% for the week),
    France’s CAC 40: +0.6% (+1.3% for the week),
    Italy’s FTSE MIB: +0.5% (+0.3% for the week),
    Spain’s IBEX 35: -0.8% (-1.3% for the week).

    Sovereign bond yields keep sliding, which is lending support to equities.

    #68868
    Truman
    Participant

    Eurozone’s
    Today produced a series of weaker-than-expected flash manufacturing PMIs for December, which stirred speculation about the ECB not being able to retain a hawkish line; nonetheless, several ECB officials followed ECB President Lagarde yesterday in saying that there was no discussion of rate cuts.

    Preliminary December HCOB Manufacturing PMI 44.2 (expected 44.6; last 44.2);
    Preliminary December HCOB Services PMI 48.1 (expected 49.0; last 48.7);
    October Trade Balance EUR11.1 billion (last EUR9.8 billion);
    Q3 Labor Cost Index 5.3% yr/yr (last 4.50%)

    #68869
    Truman
    Participant

    Germany’s
    Preliminary December HCOB Manufacturing PMI 43.1 (expected 43.2; last 42.6);
    Preliminary December HCOB Services PMI 48.4 (expected 49.8; last 49.6)

    Germany’s Bundesbank cut its 2024 GDP growth forecast to 0.4% from 1.2% and lowered its CPI forecast to 2.7% from 3.1%.

    #68870
    Truman
    Participant

    Italy’s
    November CPI -0.5% m/m (expected -0.4%; last -0.2%) and 0.7% yr/yr (expected 0.8%; last 1.7%)

    #68871
    Truman
    Participant

    UK’s
    The UK registered a stronger than expected Services PMI reading for December and some improved consumer confidence.

    Preliminary December S&P Global/CIPS Manufacturing PMI 46.4 (expected 47.5; last 47.2);
    Preliminary December S&P Global/CIPS Services PMI 52.7 (expected 51.0; last 50.9);
    December Gfk Consumer Confidence -22 (expected -22; last -24)

    #68872
    Truman
    Participant

    France’s
    November CPI -0.2% m/m (expected -0.2%; last 0.1%) and 3.5% yr/yr (expected 3.4%; last 4.0%);
    Preliminary December HCOB Manufacturing PMI 42.0 (expected 43.3; last 42.9);
    Preliminary HCOB Services PMI 44.3 (expected 46.0; last 45.4)

    #68873
    Truman
    Participant

    Costco (COST 647.97, +17.19, +2.7%): beats by $0.07, reports revs in-line, also declares special cash dividend of $15/share

    Lennar (LEN 151.39, -3.42, -2.2%): beats by $0.23, beats on revs, beats on new orders and deliveries, falls short of gross margin expectations; guides for Q1 deliveries of 16,500-17,000

    Darden Restaurants (DRI 161.10, -1.99, -1.2%): beats by $0.10, reports revs in-line; guides FY24 EPS in-line, revs in-line

    #68874
    Truman
    Participant

    RTX (RTX 82.50, +0.64, +0.8%): announces that President and COO Christopher Calio will succeed Gregory Hayes as CEO on May 2

    #68875
    Truman
    Participant

    Nucor (NUE 172.55, +1.70, +1.0%): increases its quarterly dividend 5.9% to $0.54/share; 1.3% annual yield

    U.S. Steel (X 39.00, +0.14, +0.4%): guides Q4 EPS in-line with consensus

    #68876
    Truman
    Participant

    Pfizer (PFE 26.40, +0.27, +1.0%): increases its quarterly dividend by 2.4% to $0.42/share; annual yield of 6.4%

    #68877
    Truman
    Participant

    General Electric (GE 123.75, +2.40, +2.0%): upgraded to Overweight from Equal Weight at Wells Fargo; selected by NASA to work with its Hybrid Thermally Efficient Core project, which aims to develop more fuel efficient engines for single-aisle aircraft

    #68878
    Truman
    Participant

    Total industrial production increased 0.2% month-over-month in November, as expected, following a downwardly revised 0.9% decline (from -0.6%) in October.
    The capacity utilization rate increased to 78.8% (consensus 79.1%) from a downwardly revised 78.7% (from 78.9%) in October. Total industrial production was down 0.4% yr/yr. The capacity utilization rate of 78.8% was 0.9 percentage point below its long-run average.

    The key takeaway from the report is that industrial production was boosted by the end of the UAW strike, which bolstered manufacturing output. Excluding motor vehicles and parts, the index for manufacturing decreased 0.2%.

    #68879
    Truman
    Participant

    The S&P Global US Manufacturing PMI declined to 48.2 in the preliminary December reading from 49.4 in November.
    The S&P Global US Services PMI rose to 51.3 in the preliminary December reading from 50.8 in November.

    Treasuries are little changed after solid gains this week.

    The 2-yr note yield is up one basis point to 4.41% and the 10-yr note yield down one basis point to 3.92%.

    #68888

    ^^^^^ +1’s for great insight & posts of world wide MKT/ECON conditions 🙂

    and most importantly — it’s QUAD WITCHING FRIDAY
    as we celebrate with some of best WA-WA pedal guitar of past from Stephen Stills 🙂

Viewing 15 posts - 46 through 60 (of 62 total)
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