Traders Market Weekly: War Drums, Bond Routes, Magnificent Seven Earnings

Viewing 15 posts - 76 through 90 (of 91 total)
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  • #66754
    Truman
    Participant

    Japan’s Core CPI was up 2.8% in September, representing the first reading below the 3.0% yr/yr mark since August 2022.
    The Bank of Japan announced that a fund-supplying operation will be conducted on Tuesday after the JGB 10-yr yield reached a level not seen in more than a decade.

    #66755
    Truman
    Participant

    The People’s Bank of China left its one- and five-year loan prime rates at their respective 3.45% and 4.20%, as expected. Troubled developer Evergrande revised the terms of its proposed restructuring.
    China’s Commerce Ministry announced that rules for exporting graphite items will be adjusted.

    China’s September FDI -8.4% (last -5.1%)
    Hong Kong’s September CPI 0.4% m/m (last 0.0%); 2.0% yr/yr (expected 1.8%; last 1.8%)

    #66756
    Truman
    Participant

    The Reserve Bank of New Zealand’s Credit Conditions survey for September showed that demand for credit decreased in a broad-based manner over the past six months.

    New Zealand’s September trade deficit NZD2.329 bln (last deficit of NZD2.273 bln). September Credit Card Spending 3.3% yr/yr (last 4.3%)

    #66757
    Truman
    Participant

    Major European indices are on track for a lower finish to the week.

    —Equity Markets—

    STOXX Europe 600: -1.2% (-3.3% week-to-date)
    Germany’s DAX: -1.4% (-2.3% week-to-date)
    U.K.’s FTSE 100: -1.2% (-2.5% week-to-date)
    France’s CAC 40: -1.3% (-2.4% week-to-date)
    Italy’s FTSE MIB: -1.2% (-3.4% week-to-date)
    Spain’s IBEX 35: -1.1% (-2.0% week-to-date)

    #66758
    Truman
    Participant

    Bank of England Governor Bailey said that inflation is expected to show a marked slowdown in November with more gradual decreases to follow.
    The U.K. reported a larger than expected decrease in September Retail Sales due in part to warm weather weighing on apparel sales.
    InterContinental Hotel Group said that it expects a very strong end to the year.

    U.K.’s September Retail Sales -0.9% m/m (expected -0.2%; last 0.4%); -1.0% yr/yr (expected -0.1%; last -1.3%).
    September Core Retail Sales -1.0% m/m (expected -0.4%; last 0.6%); -1.2% yr/yr (expected -0.2%; last -1.3%).
    September Public Sector Net Borrowing GBP13.53 bln (expected GBP17.60 bln; last GBP10.58 bln)

    #66759
    Truman
    Participant

    Germany’s September PPI -0.2% m/m (expected 0.4%; last 0.3%); -14.7% yr/yr (expected -14.2%; last -12.6%)

    #66760
    Truman
    Participant

    S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -39.00.

    The S&P 500 futures are down 9 points and are trading 0.2% below fair value.
    The Nasdaq 100 futures are down 39 points and are trading 0.2% below fair value.
    The Dow Jones Industrial Average futures are down 69 points and are trading 0.2% below fair value.

    Equity futures indicate a lower open after the 10-yr note yield crossed 5.0% for the first time since 2007 overnight.

    It has since declined to 4.93%. The 2-yr note yield is down three basis points to 5.14%.

    Market participants are also digesting another slate earnings news, headlined by Dow component American Express (AXP), which beat earnings estimates and reaffirmed FY23 guidance.

    Geopolitical uncertainty remains top of mind for investors.

    In a speech last night, President Biden, citing national security interests, made the case for more aid for Israel and Ukraine. Reports suggest he will ask Congress for approximately $100 billion in emergency aid. The business of Congress, however, remains stymied by the House’s inability to elect a new Speaker.

    The geopolitical uncertainty, particularly the Israel-Hamas conflict, has contributed to risk aversion ahead of the weekend.

    #66761
    Truman
    Participant

    American Express (AXP 149.25, -0.37, -0.3%): beats by $0.35, reports revs in-line; reaffirms FY23 guidance; sees FY24 revenue growth in excess of 10%; sees mid teens EPS growth
    SLB (SLB 58.80, -1.17, -2.0%): beats by $0.01, reports revs in-line
    Intuitive Surgical (ISRG 255.50, -17.95, -6.6%): beats by $0.04, misses on revs

    #66762
    Truman
    Participant

    General Motors (GM 29.55, +0.22, +0.8%): and UAW are moving toward tentative deal, according to Bloomberg

    #66763
    Truman
    Participant

    Dow 33256.24 -157.89 (-0.47%)
    Nasdaq 13117.58 -68.59 (-0.52%)
    SP 500 4253.60 -24.40 (-0.57%)
    10-yr Note +6/32 4.917drives risk ave
    NYSE Adv Dec Vol
    Nasdaq Adv Dec Vol

    Industry Watch
    Strong: Real Estate, Utilities, Consumer Staples, Health Care
    Weak: Consumer Discretionary, Energy, Financials, Information Technology, Materials

    #66769

    ^^^ MULTIPLE +1s to best DEMOCRAT POTUS of ALL-TIME for excellent job in sharing daily news 🙂

    PPPPLLLLUUUUUNNNGGGGGEEEE – 1 MORE GREAT BEAR FEAST BEFORE THEY HIBERNATE FOR SANTA RALLY
    DID SOMEONE SAY “BOND” IS IN TROUBLE AS HOME … OHHHHHHH THE HUMANITY – AS HOME RATE GO ABOVE “007” PERCENT

    #66770

    and in context of “BOND” rout — another round “GOAT” songs as a FRIDAY BONUS 🙂

    And there may be a few hidden “FOR YOUR EYES ONLT” things going on in equity markets as we are at 1637 “Dutch Tulip” bulb high prices with a “wall of worry” as VIX/OIL & other instability is increasing … However WALL STREET pales in comparison to greatest PONZI scheme of all time called “Krytos”

    #66793

    Dow 33,127.28 -286.89 -0.86%
    S&P 500 4,224.16 -53.84 -1.26%
    Nasdaq 12,983.81 -202.37 -1.53%
    VIX 21.48 0.08 0.37%
    Gold 1,991.40 10.90 0.55%
    Oil 89.02 -0.35 -0.39%

    http://www.youtube.com/watch?v=SSoDD-jynjs

    #66794

    Dow 33,127.28 -286.89 -0.86%
    S&P 500 4,224.16 -53.84 -1.26%
    Nasdaq 12,983.81 -202.37 -1.53%
    VIX 21.48 0.08 0.37%
    Gold 1,991.40 10.90 0.55%
    Oil 89.02 -0.35 -0.39%

    http://www.youtube.com/watch?v=SSoDD-jynjs

    #66795

    Dow 33,127.28 -286.89 -0.86%
    S&P 500 4,224.16 -53.84 -1.26%
    Nasdaq 12,983.81 -202.37 -1.53%
    VIX 21.48 0.08 0.37%
    Gold 1,991.40 10.90 0.55%
    Oil 89.02 -0.35 -0.39%

    http://www.youtube.com/watch?v=SSoDD-jynjs

Viewing 15 posts - 76 through 90 (of 91 total)
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