Traders Market Weekly: Central Banks, Debt, Jobs and Apple

Viewing 13 posts - 61 through 73 (of 73 total)
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  • #67001
    Truman
    Participant

    Singapore’s Q3 URA Property Index 0.8% qtr/qtr (expected 0.5%; last -0.2%)

    Australia’s Q3 PPI 1.8% qtr/qtr (expected 0.7%; last 0.5%); 3.8% yr/yr (last 3.9%)

    #67002
    Truman
    Participant

    Bangko Sentral ng Pilipinas unexpectedly raised its policy rate by 25 bps to 6.50%, hinting at another potential hike in November..

    #67003
    Truman
    Participant

    Major European indices trade on a mostly lower note with France’s CAC (-1.0%) lagging amid weakness in drugmaker Sanofi after the company scrapped its profit margin target for 2025.

    STOXX Europe 600: -0.2% (-0.3% week-to-date),
    Germany’s DAX: +0.2% (-0.3% week-to-date),
    U.K.’s FTSE 100: -0.2% (-0.8% week-to-date),
    France’s CAC 40: -1.0% (+0.1% week-to-date),
    Italy’s FTSE MIB: -0.2% (+0.4% week-to-date),
    Spain’s IBEX 35: UNCH (-0.7% week-to-date).

    Appliance maker Electrolux missed quarterly estimates, issued soft guidance for Q4, and announced a cost reduction plan.

    #67004
    Truman
    Participant

    France’s October Consumer Confidence 84 (expected 83; last 83)

    Italy’s October Business Confidence 96.0, as expected (last 96.4) and Consumer Confidence 101.6 (expected 105.2; last 105.4).
    August Industrial Sales -0.4% m/m (last -0.5%); -5.0% yr/yr (last -1.7%)

    Spain’s Q3 GDP 0.3% qtr/qtr (expected 0.2%; last 0.4%); 1.8% yr/yr (expected 1.6%; last 2.0%).
    September Retail Sales 6.5% yr/yr (last 7.1%)

    #67005
    Truman
    Participant

    Goldman Sachs expects that the European Central Bank reached its peak rate and will begin cutting rates in Q3 of 2024.

    European Central Bank policymaker Muller said that the economy will determine how long rates stay at their peak while policymaker Vasle said that the current rate level is enough to slow inflation.

    #67007
    Truman
    Participant

    Amazon.com (AMZN 127.69, +8.15, +6.8%): beats by $0.35, beats on revs; guides Q4 revs below consensus; Seeing the pace and volume of AWS deals pick up

    Intel (INTC 34.91, +2.39, +7.4%): beats by $0.19, beats on revs, non-GAAP gross margin of 45.8% vs. guidance of 43.0%; guides Q4 EPS above consensus, revs above consensus

    Chipotle Mexican Grill (CMG 1875.00, +68.53, +3.8%): beats by $0.81, reports revs in-line, comps of +5.0%; expects Q4 comps in the mid to high-single digit range; Transaction trends remaining positive in October

    Capital One (COF 94.21, +4.70, +5.3%): beats by $1.21, beats on revs

    Enphase Energy (ENPH 77.56, -18.62, -19.4%): beats by $0.01, misses on revs; guides Q4 revs sharply below consensus, citing high inventory at distribution partners and softening demand in key markets

    Ford Motor (F 10.93, -0.42, -3.7%): misses by $0.07, reports revs in-line; withdraws FY23 guidance

    Dexcom (DXCM 95.07, +13.98, +17.2%): beats by $0.16, beats on revs; guides FY23 revs above consensus; announces buyback

    Deckers Outdoor (DECK 534.30, +49.72, +10.3%): beats by $2.39, beats on revs; guides FY24 EPS above consensus, revs above consensus

    Stanley Black & Decker (SWK 80.00, +2.77, +3.6%): beats by $0.22, reports revs in-line; raises FY23 EPS above consensus

    Colgate-Palmolive (CL 73.87, +0.79, +1.1%): beats by $0.06, beats on revs; guides FY23 EPS above consensus, revs in-line

    #67008
    Truman
    Participant

    JPMorgan Chase (JPM 139.19, -1.57, -1.1%): CEO Jamie Dimon confirmed today that he and his family plan to sell a portion of their holdings. Starting in 2024 they currently intend to sell 1 million shares, subject to the terms of a stock trading plan.

    #67009
    Truman
    Participant

    Exxon Mobil (XOM 108.01, +0.41, +0.4%): misses by $0.10, misses on revs; Raises quarterly dividend to $0.95/share from $0.91/share.

    Chevron (CVX 151.33, -3.42, -2.2%): misses by $0.65, beats on revs

    #67010
    Truman
    Participant

    Personal Income and Spending report

    Personal income increased 0.3% month-over-month in September (consensus 0.4%) following a 0.4% increase in August. Personal spending jumped 0.7% (consensus 0.5%), perhaps not so surprising in light of what was seen in yesterday’s advance Q3 GDP report.

    The PCE Price Index was up 0.4% month-over-month (consensus 0.3%) and up 3.4% year-over-year, unchanged from August. The core-PCE Price Index, which excludes food and energy and is the Fed’s preferred inflation gauge, rose 0.3% month-over-month, as expected, and was up 3.7% year-over-year versus 3.8% in August.

    The key takeaway from the report is that the PCE Price Index and the core PCE Price Index had a sticky feel to them, meaning they lacked a stronger trend of disinflation. That is apt to keep the Fed in a more hawkish mindset, which doesn’t mean the Fed will be moved to raise rates soon. What it does mean is that the Fed won’t be thinking about a rate cut anytime soon.

    #67011
    Truman
    Participant

    The final reading for the University of Michigan Consumer Sentiment Index for October

    63.8 (consensus 63.1), up from the preliminary reading of 63.0, but down from September’s final reading of 67.9. In the same period a year ago, the index stood at 59.9.

    The key takeaway from the report is that the decline relative to the final September reading was owed to weakening sentiment among higher-income consumers and those with sizable stock holdings. Furthermore, expected business conditions weakened among all consumers and year-ahead inflation expectations jumped back to a level last seen in May.

    Treasury yields are little changed.

    The 2-yr note yield is down one basis point to 5.05% and the 10-yr note yield is up two basis points to 4.87%.

    #67012
    Truman
    Participant

    Aside from the energy sector (-2.3%), the financials sector (-1.0%) shows the steepest decline. JPMorgan Chase (JPM 137.05, -3.71, -2.7%) is a top laggard after CEO Jamie Dimon confirmed today that he and his family plan to sell a portion of their holdings. Starting in 2024 they currently intend to sell 1 million shares, subject to the terms of a stock trading plan.

    The SPDR S&P Bank ETF (KBE) is down 1.0%.

    #67045

    Dow 32,417.59 -366.71 -1.12%
    S&P 500 4,117.37 -19.86 -0.48%
    Nasdaq 12,643.01 47.41 0.38%
    VIX 21.27 0.59 2.85%
    Gold 2,016.00 18.60 0.93%
    Oil 85.16 1.95 2.34%

    and the GOAT version below 🙂

    #66876

    Oct 29 – Nov 4, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Doing, OK
    [See the full post at: Traders Market Weekly: Central Banks, Debt, Jobs and Apple]

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