Traders Market Weekly: Bears Squeezed in Bonds, Stocks and Currencies

Viewing 15 posts - 31 through 45 (of 57 total)
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    S&P 500 materials sector $XLB +2.6% the leader today

    Earnings driven gains by DuPont $DD 66.86, +5.12, +8.3% & Mosaic $MOS 53.18, +3.26, +6.5%
    Intl Flavors $IFF 95.52, -0.66, -0.7% dragging following its earnings. via


    FTX CEO Bankman-Fried tells FTX employees the firm was hit with $6 billion in withdrawals

    says the company has ‘effectively paused’ withdrawals

    Bitcoin breaks the 2021 lows
    Bitcoin down 15%

    Ethereum is down 18%, Solana down 30% and FTT Coin is in a death spiral.

    The price of FTT reached a corrective high of $19.75 off the news that they were looking to sell to Binance. Then the market got wind that there was more work and diligence to go and maybe that the diligence might not be all that good, buyers turned to sellers and the price has now moved to a new low of $8.56.


    Dow 33,160.83 333.83 1.02%
    S&P 500 3,828.11 21.31 0.56%
    Nasdaq 10,616.20 51.68 0.49%
    VIX 25.43 1.08 4.44%
    Gold 1,715.20 34.70 2.06%
    Oil 89.24 -2.55 -2.78%

    1st song may be a FAV of all time from 1 of best albums
    as reminds us of our daughter 🙂


    and 1 of best songs of all times that tells a story of tragedy of 11/10/1975


    Early results favour Republicans in key state Virginia

    A state to watch is Virginia where there are three House seats that could go either way.

    The early votes that have come in are from districts that voted Democrat in the 2020 Presidential election but this time are showing up red.

    But this is only with 2 per cent of the vote counted, so it’s still early days.


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

    —Equity Markets—

    Japan’s Nikkei: -0.6%
    Hong Kong’s Hang Seng: -1.2%
    China’s Shanghai Composite: -0.5%
    India’s Sensex: -0.3%
    South Korea’s Kospi: +1.1%
    Australia’s ASX All Ordinaries: +0.5%


    Property names outperformed in Hong Kong after China’s National Development and Reform Commission asked large banks to increase lending to manufacturers, developers, and infrastructure companies.
    China reportedly lifted a lockdown near an Apple plant but a lockdown in Guangzhou was expanded.
    Japan’s cabinet approved a JPY29.1 trln extra budget.
    China’s October CPI 0.1% m/m (expected 0.3%; last 0.3%); 2.1% yr/yr (expected 2.4%; last 2.8%). October PPI -1.3% yr/yr (expected -1.5%; last 0.9%)
    Japan’s September Current Account surplus JPY670 bln (expected surplus of JPY10 bln; last surplus of JPY100 bln). October Economy Watchers Current Index 49.9 (last 48.4). November Reuters Tankan Index 2 (last 5)
    South Korea’s October Unemployment Rate 2.8% (last 2.8%)
    Australia’s October Building Approvals -5.8% m/m (expected -7.0%; last 28.1%) and Private House Approvals -7.8% m/m (last 4.8%)
    New Zealand’s October Electronic Card Retail Sales 1.0% m/m (last 1.3%); 16.6% yr/yr (last 28.6%)


    Major European indices trade on a mostly lower note.

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


    British Prime Minister Sunak is reportedly considering an increase to the top income tax rate.
    European Central Bank policymaker Wunsch said that pandemic stimulus did not lead to inflation and that a view of a 3.0% terminal policy rate may be optimistic.
    Italy’s Economy Minister Giorgetti said that his government plans to reduce debt in prudent fashion.
    Commerzbank beat quarterly expectations and reaffirmed its guidance for the year.


    Walt Disney (DIS 92.34 -7.56 -7.57%): misses by $0.26, misses on revs, Disney+ subs increased 39% to 164.2 mln, Parks, Experiences, and Products revenue up 34.5%
    Meta Platforms (META 100.80 +4.33 +4.49%): confirms 11K in layoffs across its family of apps and reality labs segments; reaffirms Q4 revenue guidance
    Lucid Group (LCID 12.45 -1.05 -7.78%): misses by $0.10, misses on revs; on track for annual production guidance of 6-7K vehicles
    Affirm (AFRM 13.93 -1.71 -10.93%): beats by $0.02, reports revs in-line; guides Q2 revs below consensus; guides FY23 revs below consensus
    CarGurus (CARG 10.34 -3.42 -24.85%): misses by $0.04, misses on revs; guides Q4 EPS below consensus, revs below consensus
    Occidental Petro (OXY 73.59 -1.24 -1.66%): beats by $0.07, beats on revs
    D.R. Horton (DHI 71.81 -1.45 -1.98%): misses by $0.46, misses on revs


    S&P futures vs fair value: -21.00. Nasdaq futures vs fair value: -61.80.

    Equity futures extended their losses recently.
    The S&P 500 futures are down 20 points and are trading 0.5% below fair value.
    The Nasdaq 100 futures are down 66 points and are trading 0.6% below fair value.
    The Dow Jones Industrial Average futures are down 190 points and are trading 0.6% below fair value.


    US markets open & Mega cap stocks weighing.

    Vanguard Mega Cap Growth ETF $MGK down 1.2% versus a 0.7% loss in the $SPX
    Most of SP500 sectors lower #Energy (-1.7%) & information technology (-1.3%) biggest losses
    health care +0.2% & real estate +0.1% lead


    SENATE likely to stay “BLUE” on 50-50 basis or “D” may even gain a seat
    All they need are 2 of the 4 non-called races (where they have leads in 2 of these)

    HOUSE will have likely change to “RED” but only with a few seats after 50-50 split
    And while the predicted “RED WAVE” was more of a “RED ripple” election day seemed to go smoothly
    And there is a need for “checks & balances” in system that HOUSE might help with

    Major bad news is GEORGIA run-off — where we have 4 more weeks of election ads/campaigning ahead – lol

    TWO links to follow all the “chad counting” in the days ahead 🙂


    BITCOIN = $17,170

    Bitcoin and other cryptocurrencies plunged on Wednesday as fear swept the digital asset market in the wake of the failure of FTX, one of the largest exchanges. The price of Bitcoin has tumbled 11% in volatile trading over the past 24 hours to $17,400 , a new yearly low, having previously traded above $20,500 on Tuesday before it was announced that Binance would rescue its imperiled rival FTX.


    Good morning … RALLY TIME DOOMERS … inflation improved to 7.7%
    The FED’s aggressive fight is taking affect slowly but surely
    A 10am EDT look at markets show DOW up 900 & NAZ up 600 🙂

    Dow 33,444.82 930.88 2.86%
    S&P 500 3,908.83 160.26 4.28%
    Nasdaq 10,950.03 596.85 5.76%
    VIX 23.71 -2.38 -9.12%
    Gold 1,747.60 33.90 1.98%
    Oil 85.65 -0.18 -0.21%

Viewing 15 posts - 31 through 45 (of 57 total)
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