Wake Up Call – The Day Ahead Dec 9 2021

A live recap of what happened while we slept overnight and what lies ahead. We go through charts on the S&P 500, WTI Oil and Natural gas. A little chop and rebalance of recent moves overnight flowing on from yesterday with ES and oil in slight corrective mode. Moves from Asian markets mostly higher. Evergrande back in the news and GameStop not giving MEME stock love after earnings.

  • Enjoy live commentary from Our Trading Room at youtube as the day wraps up – feel free to like and share

Yesterday power move in Oil and the US stock markets where their highs today, the S&P 500 was up 4.2%, Nasdaq Composite was up 5.3% from their lows late last week.  Ahead US JOLTS, 10 yr Notes auction and DoE Crude oil inventories.

Yesterday’s Recap: How Quickly Markets Forget, S&P 500 In Striking Distance Of All Time Highs

The markets:

  • WTI futures off overnight highs down .96 at $71.67
  • Natural gas -.01 as market try’s to rebalance ahead of today’s EIA report
  • Apple hanging around $175 after AAPL named Top Pick for 2022 at Morgan Stanley
  • Evergrande officially defaulted on its offshore bond payment
  • Fitch downgraded both the Evergrande and Kaisa
  • PBOC moved to curb strength in the yuan by hiking the foreign exchange RRR. Yuan fell back to 6.36
  • New Japanese study suggests Omicron is 4x more transmissible than Delta variant
  • CVS +$2 higher after raised FY21 guidance and announced dividend increase and $10 bln buyback plan
  • GME sells after after earnings miss, -4.7% after missing EPS estimates on above-consensus revenue. 
  • RH up 10% after earnings
  • AMZN lower on ~$1.3 bln fine by Italy’s antitrust regulators. Amazon plans to appeal the fine, according to CNBC.
  • Spot gold down 0.3% to $1,776.80
  • Spot silver down -10 cents to $22.89
  • Bitcoin down 2.8% to $49,232
  • US Treasury 10-year yields down 1.2 bps to 1.497% after yesterday’s auction.
  • In forex the yen the strongest with USD/JPY from 113.60 to 113.36. Commodity currencies softer with AUD/USD down 0.4% to 0.7140
  • Japan’s Nikkei: -0.5%
  • Hong Kong’s Hang Seng: +1.1%
  • China’s Shanghai Composite: +1.0%
  • India’s Sensex: +0.3%
  • South Korea’s Kospi: +0.9%
  • Australia’s ASX All Ordinaries: -0.2%
  • STOXX Europe 600: -0.2%
  • Germany’s DAX: -0.3%
  • U.K.’s FTSE 100: -0.3%
  • France’s CAC 40: -0.3%
  • Italy’s FTSE MIB: UNCH
  • Spain’s IBEX 35: -0.6%

Overnight Stories in Depth

China CPI increased at its fastest pace since mid-2020 in the November

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.5% to 9.25%.

Reserve Bank Of New Zealand TWI Re-Weighting Sees Chinese Yuan Higher and Australian Dollar Lower

U.S. And Israel To Discuss Military Drills For Different Iran Scenarios

The DIX Dark Index As a Proxy For Buying Activity Opportunities.

Visit Traders Market Weekly: When The Rubber Meets The Road – TRADERS COMMUNITY for the daily calendar

Earnings Calendar For Today

Earnings BMO

  • HRL Hormel Foods
  • CIEN  Ciena
  • ARHS Arhaus
  • HOV Hovnanian Enterprises
  • LQDT Liquidity Services
  • TRDA Entrada Therapeutics
  • KALV Kalvista Pharmaceuticals 
  • HOFT Hooker Furnishings
  • LEE Lee Enterprises       
  • EVFM Evofem Biosciences
  • KRKR 36Kr Holdings

Earnings AMC

  • ORCL Oracle
  • AVGO Broadcom
  • COST Costco Wholesale
  • LULU Lululemon Athletica
  • CHWY Chewy
  • MTN Vail Resorts
  • LESL Leslies       
  • CXM Sprinklr
  • CMTL Comtech
  • AOUT American Outdoor Brands
  • SONX Sonendo

Any questions please feel free to ask them below. Trade Smart!

Have a great trading day!