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Dec 11, 2019 - Market Blog

12/11/2019

  

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Give a little Whistle...

Boeing (BA) will likely be on the move today as a whistleblower and FAA officials will all be testifying to the Congressional transportation committee.  The company has been plagued by ongoing issues surrounding their 737 MAX jet which has now been taken out of commission for nearly 10 months after a series of tragic accidents. Shares are down nearly 1% ahead of the meeting.

 

Plastered??

The world’s largest do-it-yourself home improvement company, Home Depot (HD) is feeling some pain this morning after sharing growth projections for 2020 at 3.8% which were less than the 4.3% pace expected from Wall street analysts.  Its expensive “One Home Depot” strategy is their attempt to seamlessly integrate their physical and digital assets into a better overall experience for customers which has taken longer than expected to take hold. Shares of HD are down 1.6% pre-market as a result near $212 which hasn't been seen since late August. 

  

Pre-Market Movers and Shakers

S&P 500 futures (/ES) +0.14% near 3140.25

U.S. Crude Oil futures (/CL) -.4% near $59 a barrel

CBOE Volatility Index (VIX) -0.9 near 15.54

 

Unite Parcel Service  (UPS) -0.5% near $117.5, after an analyst downgrade looks to slow down a 3 day rally

AutoZone (AZO) up 8% yesterday near $1250, after blowing away quarterly estimates.  A series of upgrades this morning are calling for another $100 move. 

 

Major Economic Reports:

 

6:00 am CT – MBA Mortgage Applications

7:30 am CT – CPI

9:00 am CT – Quarterly Services Survey

9:30 am CT – EIA Petroleum Status Report

1:00 pm CT – FOMC Meeting Announcement

1:00 pm CT – Treasury Budget

1:30 pm CT – Fed Chair Press Conference

 

Notable Earnings:

 

Wednesday – 12/11:

A.M. –AEO, PLCE

P.M. – LULU

 

Thursday – 12/12:

A.M. – CIEN

P.M. – ADBE, AVGO, COST, ORCL

 

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Dec 10, 2019 - Market Blog

12/10/2019

  

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Let’s make a trade deal!

U.S. initially planned on initiating new tariffs on December 15th, but as of this writing it appears that they are going to yet delay implementing additional tariffs on Chinese goods. The S&P 500 futures (/ES) were initially down in the pre-market when it was being reported that China and U.S. were unlikely to reach a trade deal this week, however with sudden news of yet another delay in tariffs, the S&P futures (/ES) have rebounded and are now positive in pre-market trading. 

 

All I want is my Netflix for Christmas

Streaming service giant Netflix is down more than then 2.3% in pre-market trading after Needham analysts downgraded the stock form hold to underperform, citing potential subscriber losses and growing competition.  A day after scoring 34 Golden Globe nominations, the analysts believe that Netflix will shed 4 million U.S. subscribers in 2020 due to the high price of its offering relative to other competing streaming services. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) +0.16% near 3139

U.S. Crude Oil futures (/CL) -0.03% near $58.98 a barrel

Netflix (NFLX) -2.0% near $296.25, after Needham downgrade

Stitch Fix (SFIX) +11.0% near $27.75, after earnings top estimates and raised guidance

Chewy (CHWY) -0.7% near $24.00, after earnings missed estimates

Sanofi (SNY) +4.3% near $47.25, after the company reported plans to end its research in diabetes and cardiovascular diseases

Vail Resorts (MTN) +1.3% near $234.50, after the resort operator reported a  more narrow loss for its fiscal first quarter than analysts estimates

 

Major Economic Reports:

 

FOMC Meeting Begins

5:00 am CT – NFIB Small Business Optimism Index

7:30 am CT – Productivity and Costs

7:55 am CT – Redbook

 

Notable Earnings:

 

Tuesday12/10

A.M. – AZO, CMD, DBI, HDS, LQDT

P.M. – GME, OLLI, PLAY

 

Wednesday – 12/11

A.M. – AEO, ORMP, PLAB, VRA, UNFI

P.M. – BLBD, DLHC, LULU, MESA, NDSN, NX, OXM, TLRD, TWST


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Dec 09, 2019 - The Week Ahead

12/9/2019

 

The Week Ahead

  

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The Tariff Tango

With an upcoming fresh round of U.S. tariffs on Chinese goods set to go into effect at the end of this week, there is increased pressure on trade officials to make progress in the ongoing talks.  Despite recent confusion on how well the negotiations are going, some are hoping for at least a postponement of the upcoming hikes.

 

The Jerome and Christine Show

The Federal Reserve is not expected to make any changes to interest rates when they conclude their two day meeting on Wednesday.  Last week’s strong jobs number helps make this a virtual certainty, as the numbers show that the U.S. jobs market remains robust.  The European Central Bank will meet on Thursday, with Christine Lagarde taking the helm from Mario Draghi.  Like the Fed, the ECB is expected to stay the course on rates.

 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.10% near 3143

U.S. Crude Oil futures (/CL) -1.0% near $58.60 a barrel

 

Synthorx (THOR) +169% near $67.40, after the cancer biotech agreed to be acquired  by Sanofi for $2.5 billion

PG&E Corporation (PCG) +16% near $11.20, after the company reached a$13.5 billion settlement concerning two major California fires

 

Economic Releases (12/9-12/13):

 

Monday:

11:30 am CT – TD Ameritrade IMX

 

Tuesday:

FOMC Meeting Begins

5:00 am CT – NFIB Small Business Optimism Index

7:30 am CT – Productivity and Costs

7:55 am CT – Redbook

 

Wednesday:

FOMC Meeting Continues

6:00 am CT – MBA Mortgage Applications

7:30 am CT – CPI

9:00 am CT – Quarterly Services Survey

9:30 am CT – EIA Petroleum Status Report

1:00 pm CT – FOMC Meeting Announcement

1:00 pm CT – Treasury Budget

1:30 pm CT – Fed Chair Press Conference

 

Thursday:

7:30 am CT – Jobless Claims

7:30 am CT – PPI-FD

9:30 am CT – EIA Natural Gas Report

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Friday:

7:30 am CT – Retail Sales

7:30 am CT – Import and Export Prices

9:00 am CT – Business Inventories

 

Major Earnings for the Upcoming Week (12/9-12/13):

 

Monday:

A.M. – JT, THO

P.M. – CDMO, CHWY, MDB, MTN, PHR, ROAD, SFIX, TOL

 

Tuesday:

A.M. – AZO, CMD, DBI, HDS, LQDT, NIO

P.M. – GME, PLAY

 

Wednesday:

A.M. – AEO, PLCE

P.M. – LULU

 

Thursday:

A.M. – CIEN

P.M. – ADBE, AVGO, COSTORCL

 

Friday:

A.M. – N/A

P.M. – N/A


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**BOLD above indicates important and potential market-moving news and information

 

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Showing Week of Dec 02, 2019

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Dec 06, 2019 - Market Blog

12/6/2019

  

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Ride-Sharing Nightmare

Shares of LYFT (LYFT) fell nearly 5% in yesterday’s session after news surfaced of a pending lawsuit over rider safety.  Counterpart, Uber (UBER) also just reported 3,000 reports of sexual assault over the last year as both ride-sharing companies try to navigate various nuances of their disruptive services. Various tax and permit issues recently announced also act as a headwind with both companies trading at December lows. 

 

Bank on It!

Shares of JP Morgan Chase (JPM) have launched to new highs near $135 after a 4th straight session of gains look to be shaping up.  Today’s solid jobs report is the likely candidate which helped to push shares another 1.7% higher.  Overall, JPM is trending 13.5% to the upside since the beginning of October with interest rates creeping north as the bank appears to be hitting on all cylinders. 

 

$300 Club

Biogen Inc. (BIIB) saw a wild range in yesterday’s session after positive data on their Alzheimer’s drug candidate was released.  Shares were down 3% early on before a stock halt saw BIIB reverse higher by the same amount in the same session. The Biotech company has seen erratic movement all year, but appears to be trying to break back above recent highs to recapture the $300 level. 

 

Pre-Market Movers and Shakers

U.S. Jobs report saw a 266K addition vs. 187K estimate

S&P 500 futures (/ES) +0.7% near 3139

U.S. Crude Oil futures (/CL) -0.25% near $58.15 a barrel

 

ULTA Beauty Inc.(ULTA) +8.5% near $256 after smashing Q3 estimates

 

Major Economic Reports:

 

7:30 am CT – Employment Situation

9:00 am CT – Consumer Sentiment

9:00 am CT – Wholesale Trade

12:00 pm CT – Baker-Hughes Rig Count

2:00 pm CT – Consumer Credit

 

Notable Earnings:

 

Friday– 12/6:

A.M. – N/A

P.M. – N/A

 

Monday– 12/9:

A.M. –  JT, THO

P.M. –  CDMO,  CHWY, MDB, MTN, PHR, ROAD, SFIX, TOL

 

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**BOLD above indicates important and potential market-moving news and information

 

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Dec 05, 2019 - Market Blog

12/5/2019

  

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Flying the friendly skies

United Airlines (UAL) CEO Oscar Munoz will transition to the role of Executive Chairman of the Board of Directors for United Airlines Holdings, in May 2020.  Current President of United Airlines Scot Kirby will become the company’s new chief executive officer.   Mr. Munoz joined United as CEO in September 2015 after serving as president and chief operating officer of railroad operator CSX Corp. (CSX). Mr. Kirby joined in 2016 from American Airlines (AAL). Shares are up modestly.  

 

It’s got to be the shoes

The athletic footwear and apparel maker Nike (NKE) is up 2.3% in premarket after an upgrade to a buy from neutral at Goldman Sachs (GS) and added was to the firm’s "Conviction Buy" list.  Goldman believes Nike in on the verge of sharp acceleration in earnings growth, with China being a key driver. The news pushes shares back within range of its all-time high of $96.87.  

 

This time dollars are falling from the tree

The dollar store operator Dollar General (DG) shares are surging this morning after reporting earnings of $1.42 per share from $1.26 a year ago, beating estimates by 4 cents a share.  Revenue also beat estimates with sales of $7 billion for the quarter, up from $6.4 billion a year ago.  The company also raised its full-year forecast and added $1 billion to its share repurchase program. Shares are reversing higher by an impressive 2.7% after 5 straight losing sessions forced DG to a 3 mo. low earlier this week.  

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) +0.26% near 3120

U.S. Crude Oil futures (/CL) +0.53% near $58.74 a barrel

United Airlines (UAL) +0.70% near $88.80, after CEO Oscar Munoz announced he is stepping down as CEO in May 2020

Nike (NKE) 2.3% near $95.70, after Goldman Sachs upgrade

Dollar General (DG) +2.7% near $157.80, after earnings top estimates and raised guidance

Slack Technologies (WORK) +4.6% near $22.65, after the company raised its full-year outlook and added more corporate users in the latest quarter

Five Below (FIVE) +6.3% near $125.50, after discount retailer sales beat estimates

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

7:15 am CT – ADP Employment Report

8:45 am CT – PMI Services Index

9:00 am CT – ISM Non-Manufacturing Index

7:30 am CT – Corporate Profits

9:30 am CT – EIA Petroleum Status Report

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

2:00 pm CT – Consumer Credit

 

Notable Earnings:

 

Thursday12/5

A.M. – DG, KR, PLCE, SIG, TIF

P.M. – AOBC, CLDR, CRWD, DOCU, OKTA, ULTA, ZM

 

Friday – 12/6

A.M. – N/A

P.M. – N/A


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**BOLD above indicates important and potential market-moving news and information

 

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Dec 04, 2019 - Market Blog

12/4/2019

  

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So Close but yet So Far….

After repeated claims that the U.S. and China were very close to signing a trade deal, President Trump said yesterday he was willing to wait until after next year’s election to come to an agreement.  This sent the overall market lower, and posted the biggest single-day pull back for the Dow Jones Industrials ($DJI) since early October.  This morning ‘people familiar with the talks’ were in full spin mode, saying that negotiators are getting closer and the President’s comments were not a sign that talks were falling apart.  This has sent S&P 500 (/ES) futures higher in the pre-market.

 

Larry and Sergey Relinquish Control

Google co-founders, Larry Page and Sergey Brin stepped down as active managers of the internet giant’s parent company, Alphabet (GOOG, GOOGL) yesterday afternoon.  The current CEO of Google will assume control of Alphabet, and the two founders will remain on the Alphabet board. 

  

Pre-Market Movers and Shakers

S&P 500 futures (/ES) +0.4% near 3103

U.S. Crude Oil futures (/CL) +2.6% near $57.50 a barrel

 

Workday (WDAY) -4.5% near $165.30, after downbeat comments on new products following positive earnings

Salesforce (CRM) -0.8% near $160.20, after posting a fiscal third quarter net loss following an acquisition

 

Major Economic Reports:

 

6:00 am CT – MBA Mortgage Applications

7:15 am CT – ADP Employment Report

8:45 am CT – PMI Services Index

9:00 am CT – ISM Non-Manufacturing Index

7:30 am CT – Corporate Profits

9:30 am CT – EIA Petroleum Status Report

 

Notable Earnings:

 

Wednesday – 12/4:

A.M. – CPB

P.M. – FIVE, RH, WORK

 

Thursday – 12/5:

A.M. – DG, KR, PLCE, SIG, TIF

P.M. – AOBC, CLDR, CRWD, DOCU, OKTA, ULTA, ZM

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

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**BOLD above indicates important and potential market-moving news and information

 

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Dec 03, 2019 - Market Blog

12/3/2019

  

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Sour Apple?

Shares of Apple (AAPL) are down nearly 2% ahead of the open, nullifying a generous profit-target raise yesterday which pushed shares to a new all-time high at $268.25.  Earlier today, a Federal judge chose not to dismiss a class action lawsuit which claims the company knew of a faulty keyboard on their popular MacBook Pro and MacBook Air for several years and failed to correct the issue. 

 

Drilled!

Apache Corp. (APA) took a 14% hit yesterday as an incomplete update around a much-touted exploratory offshore drilling site near Guyana remained suspect. Exxon Mobil (XOM) is developing a massive oil field nearby which has long sparked excitement around the prospect. Overall, Apache lost a total of $170 million in the 3rd quarter amid the resignation of their Senior Vice President of world-wide exploration which initially rattled shares. 

 

Duck!

Insurer, Aflac (AFL) fell nearly 4% yesterday after guiding FY 2020 earnings estimates lower near the $4.30-$4.50 range.  Shares were at a 4 mo. high prior to the announcement which dropped the underlying below its 50 day moving average near $53.64. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.85% near 3088

U.S. Crude Oil futures (/CL) -0.5% near $55.74 a barrel

 

NVIDIA (LB) -3.43% near $202.18, amid trade breakdown

Disney (DIS) -1.7% near $148.100, pausing after all-time highs were reached last week

 

Major Economic Reports:

 

Motor Vehicle Sales

7:55 am CT – Redbook

 

Notable Earnings:

 

Tuesday – 12/3:

A.M.–  N/A

P.M. – CRM, MRVL, WDAY, ZS

 

Wednesday – 12/4:

A.M. – CPB

P.M. – FIVE,RH, WORK

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

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**BOLD above indicates important and potential market-moving news and information

 

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Dec 02, 2019 - The Week Ahead

12/2/2019

The Week Ahead

 

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Cyber Monday,  isn’t just for Amazon anymore

 

Today is Cyber Monday, which usually means Amazon (AMZN) will be on the radar, however Walmart (WMT) and Target (TGT) had bigger jumps than Amazon in online customer spending during the first two weeks of November compared with the same period last year.  Walmart took in 51% more than last year, while Target followed close behind with a 47% increase.  Amazon’s customer spending grew just 32%.  Last year customers on Amazon’s site ordered over 180 million items during the five-day period starting with Thanksgiving through Cyber Monday.

 

You may not find a Roku in your Christmas stocking

Streaming device maker Roku (ROKU) is down nearly 7% in pre-market trading as Morgan Stanley downgraded the shares and announced a $110 price target. Roku shares have risen more than 400% year to date.

 

You get tariffed and you get tariffed

President Donald Trump announced that he will immediately restore tariffs on U.S. steel and aluminum imports from Brazil and Argentina.  Trump is also urging the Federal Reserve to prevent countries from gaining an economic advantage by devaluing their currencies. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) +0.10% near 3145

U.S. Crude Oil futures (/CL) +2.0% near $56.32 a barrel

Roku (ROKU) -7.0% near $149.20, after Morgan Stanley downgrade

Deere & Co (DE) -1.2% near $166.25, after price target cut from Citigroup

Walt Disney (DIS) +0.5% near $152.00, after Frozen 2 set a Thanksgiving holiday weekend box office record

ASLAN Pharmaceuticals Limited (ASLN) +83.0% near $7.00, after the company announced its atopic dermatitis drug showed potential in a trial

 

Economic Releases (12/2-12/6):

 

Monday:

8:45 am CT – PMI Manufacturing Index

9:00 am CT – ISM Manufacturing Index

9:00 am CT – Construction Spending

 

Tuesday:

Motor Vehicle Sales

7:55 am CT – Redbook

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:15 am CT – ADP Employment Report

8:45 am CT – PMI Services Index

9:00 am CT – ISM Non-Manufacturing Index

7:30 am CT – Corporate Profits

9:30 am CT – EIA Petroleum Status Report

 

Thursday:

6:30 am CT – Challenger Job-Cut Report

7:30 am CT – International Trade

7:30 am CT – Jobless Claims

9:00 am CT – Factory Orders

9:30 am CT – EIA Natural Gas Report

10:00 am CT – 10-Yr Note & 30-Yr Bond Announcement

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Friday:

7:30 am CT – Employment Situation

9:00 am CT – Consumer Sentiment

9:00 am CT – Wholesale Trade

12:00 pm CT – Baker-Hughes Rig Count

2:00 pm CT – Consumer Credit

 

Major Earnings for the Upcoming Week (12/2-12/6):

 

Monday:

A.M. – N/A

P.M. – COUP

 

Tuesday:

A.M. – AZO

P.M. – CRM, MRVL, WDAY, ZS

 

Wednesday:

A.M. – CPB

P.M. – FIVE, RH, WORK

 

Thursday:

A.M. – DG, KR, PLCE, SIG, TIF

P.M. – AOBC, CLDR, CRWD, DOCU, OKTA, ULTA, ZM

 

Friday:

A.M. – N/A

P.M. – N/A


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