Just two days to Christmas and markets continue with the bullish tone for now. A live recap of what happened while we slept overnight and what lies ahead. We go through charts on the S&P 500, Nasdaq, Russell, Copper, WTI Oil and Natural gas. Markets have eyes on US economic releases particularly the Fed’s favorite PCE and EIA natural gas storage. Natural gas futures gave gains back with weather models. Thin markets with a lot of fear bombs out there with multiple calls for a Santa rally blended in, before Christmas so be flat or nimble.
- Enjoy live commentary from Our Trading Room at youtube as the day wraps up – feel free to like and share
- Last Night’s Market Wrap: Market Wrap – Market Breadth, Understanding Market Vega and Premia Capture – TRADERS COMMUNITY
- Weekly Overview: Traders Market Weekly: So, This Is Christmas – TRADERS COMMUNITY
- WTI futures consolidation continued + .09 at $73.10
- Natural gas -.209 at 3.76 weather models & wholesale natural gas prices in Europe dipped from a record high.
- Apple testing near resistance at $176.00
- The obsession remains the price of Apple for 3 trillion market is $182.86
- U.S. Treasuries yields across the curve. The 2-yr yield is up two basis points to 0.68%, and the 10-yr yield is up two basis points to 1.48%
- Q1 crude steel production is expected to be down 1.4% qtr/qtr.
- Import prices in Germany grew at their fastest yr/yr pace since 1974 in the November reading.
- Novavax (NVAX 187.50, +4.20): +2.3% after data showed its COVID-19 vaccine produced cross-reactive immune responses against the Omicron variant.
- Ortho Clinical Diagnostics (OCDX 22.50, +2.71): +13.7% after agreeing to be acquired by Quidel Corporation (QDEL 154.33, -11.91, -7.2%) for $24.68/share, or approximately $6 billion in cash and stock.
- Scientific Games (SGMS 67.10, +4.92): +7.9% after withdrawing its all-stock offer to acquire the remaining 19% equity interest in SciPlay (SCPL 12.65, -2.82, -18.2%) that it doesn’t currently own.
- GBP the strongest, JPY the weakest
- U.S. Dollar softer
- Spot gold up $2.50 or 0.15% at $1805.16
- Spot silver unchanged at $22.79
- Bitcoin is trading sideways $48,537.
- Japan’s Nikkei: +0.8%
- Hong Kong’s Hang Seng: +0.4%
- China’s Shanghai Composite: +0.6%
- India’s Sensex: +0.7%
- South Korea’s Kospi: +0.5%
- Australia’s ASX All Ordinaries: +0.3%.
- STOXX Europe 600: +0.6%
- Germany’s DAX: +0.6%
- U.K.’s FTSE 100: +0.2%
- France’s CAC 40: +0.4%
- Italy’s FTSE MIB: +0.3%
- Spain’s IBEX 35: +1.1%.
Visit Traders Market Weekly: Central Banker Deluge December 10 – 16 2021 for the daily calendar
Overnight Stories in Depth
Within weeks reports Scientists at the Walter Reed Army Institute of Research have developed Spike Ferritin Nanoparticle COVID-19 vaccine, or SpFN, a vaccine that is effective against COVID-19 and all its variants including Omicron. Dr. Kayvon Modjarrad, director of Walter Reed’s infectious diseases branch, made the announcement in an exclusive interview with Defense One.
Earnings Calendar For Today
CarMax, Cintas and Paychex
Key Earnings This Week
- Nike Earnings Impact from Gross Margin Pressure on Supply and labor crunches. – TRADERS COMMUNITY
- Micron DRAM Bit Shipments Shore Up Earnings with Chip Demand – TRADERS COMMUNITY
Any questions please feel free to ask them below. Trade Smart!
Have a great trading day!
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This information is provided for educational purposes only and is not a direction to buy or sell the instruments discussed. It is imperative before trading you assess your individual risk, the market risk, taxation risk, your counterparties risk and your suitability to engage in any investment of trading financially, mentally or ethically or legally. This warning does not cover all possible risks and is for educational purposes only.
THE NFA in their disclosure statement discusses the characteristics and risks of standardized security futures contracts traded on regulated U.S. exchanges. At present, regulated exchanges are authorized to list futures contracts on individual equity securities registered under the Securities Exchange Act of 1934 (including common stock and certain exchange-traded funds and American Depositary Receipts), as well as narrow-based security indices. Futures on other
types of securities and options on security futures contracts may be authorized in the future.
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Before trading go to: RISK DISCLOSURE STATEMENT FOR SECURITY FUTURES CONTRACTS