MARKET BLOG

Sign up for emails

Subscribe to the complimentary Market Blog to get your daily dose of market news, upcoming earnings and industry events, from a trader's point of view. Each entry is posted daily right here and you can sign up to have all new entries emailed directly to you.

Oct 30, 2020 - Market Blog

10/30/2020   

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

Great Expectations

The great tech juggernaut, Amazon (AMZN) reported better than expected earnings for the third quarter after the close, but that was not enough to keep investors from sending the shares lower.  Earnings per share came in at $12.37, which blew away analysts’ expectations of $8.87.  The internet retailer posted sales of $96.1 billion, which was well above the company’s earlier guidance of $87 billion to $93 billion. Investors appear to be looking to the future and not happy with what they are seeing.  AMZN’s fourth quarter guidance for operating income came in with a range of $1 billion to $4.5 billion, while Wall Street was looking for $5.8 billion.  AMZN is currently trading 1.6% lower, in the pre-market.

 

Plowing Through the Storm

Google parent company, Alphabet (GOOG/GOOGL) reported a large earnings beat after the close yesterday, with Google’s first ad revenue gain for the year.  The company posted earnings per share of $16.40 versus analysts’ expectations of $11.30.  After two straight quarters of year over year declines, GOOG saw advertising revenues rise to $37.1 billion from $33.8 billion.  YouTube ad revenue came in at $5.08 billion versus $3.8 billion a year ago.  Shares of GOOG are currently trading over 6% higher in the pre-market.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) -0.77%, near 3276

U.S. Crude Oil futures (/CL) -0.9%, near $35.85 a barrel

CBOE Volatility Index (VIX) +2.4%, near 33.95

U.S. Gold Futures (/GC) +1.1%, near $1888 an ounce

 

Major Economic Reports:

 

7:30 am CT – Personal Income and Outlays

7:30 am CT – Employment Cost Index

8:45 am CT – Chicago PMI

9:00 am CT – Consumer Sentiment

12:00 pm CT – Baker-Hughes Rig Count

 

Notable Earnings

  

Friday:

A.M. – ABBV, CBOE, CHTR, CL, CVX, GT, HON, KKR, LEA, LYB, MO, PSX, UA, UAA, WY, XOM

P.M.– N/A

 

Monday:

A.M. – CLX, LITE, LL, MPC

P.M. – AMC, ANET, CRUS, MDLZ, MOS, NTR, PAA, PYPL, RIG, SWKS, WMB

 

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

 

*Follow us on Twitter @TradeWise

 

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

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Oct 29, 2020 - Market Blog

10/29/2020

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

Pinning it on the spot

Pinterest (PINS) posted strong revenue and user growth in the third quarter, as the social-media company saw significantly greater pandemic-filled engagement than it did in the spring and said it benefited from an advertiser boycott against Facebook (FB).  The image-sharing company that makes money exclusively through advertising sales posted earnings of $0.13 per share soundly beating estimates of only $0.02 per share.  The company reported revenue of $443 million, which was a 58% increase over sales of $279.70 million the same period last year.  Shares of Pinterest are up over 30% in the pre-market.

 

Built tough

Ford Motor (F) more than tripled the consensus estimate of $0.19 cents a share, with a strong quarterly profit of $0.65.  This result was a 91% increase over earnings from the same period last year on revenue of $37.5 billion, which also easily beat the estimate of $32.9 billion.  The Dearborn MI automaker had vehicle shipments hit 651,000, rising from 639,000 in the third quarter of 2019.  The automobile giant also reported that by end of the year, customers will be able to choose from 12 Hybrid and fully electric vehicles around the globe, including the much-anticipated all-electric Mustang Mach-E.  Shares of Ford are up 4.0% in the pre-market.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +0.25%, near 3271.50

U.S. Crude Oil futures (/CL) -4.90%, near $35.55 a barrel

CBOE Volatility Index (VIX) -1.4%, near 39.85

U.S. Gold Futures (/GC) -0.80%, near $1864.00 an ounce

 

Major Economic Reports:

 

7:30 am CT – Jobless Claims

 

7:30 am CT – GDP

 

7:30 am CT – Export Sales

 

9:00 am CT – Pending Homes Sales Index

 

9:30 am CT – EIA Natural Gas Report

 

3:30 pm CT – Fed Balance Sheet

 

3:30 pm CT – Money Supply

 

Notable Earnings

 

Thursday:

A.M. – ADS, ALXN, AMT, APO, BAX, BUD, CMCSA, COP, CS, DD, DNKN, ICE, KDP, IP, KHC, MRNA, NEM, OSTK, PCG, PENN, RCL, RDS/A, RL, SHOP, SO, SPOT, TAP, TPR, TXT, YUM

 

P.M. – AAPL, ADM, AMZN, ATVI, AUY, COG, CVNA, DVA, DVN, EXAS, FB, FLEX, GOOG, GOOGL, HIG, ILMN, MGM, MSI, OLED, SBUX, SHAK, SKX, STNE, TEAM, TWTR, VRTX, WW, X

 

Friday:

A.M. – ABBV, CBOE, CHTR, CL, CVX, GT, HON, KKR, LEA, LYB, MO, PSX, UA, UAA, WY, XOM

 

P.M.– N/A

 

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

 

*Follow us on Twitter @TradeWise

 

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

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Oct 28, 2020 - Market Blog

10/28/2020

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

What’s in your wallet?

Shares of Mastercard Incorporated (MA) are down double-digits ahead of the open after the credit card company saw 3Q revenue compress by 17% compared to this same time last year. Net income reached $1.5 Billion or $1.51 a share over the past three months which was short of target as well. The travel segment has continued to be annihilated with concerns over a 2nd wave of the pandemic now weighing on the minds of investors just as trends began to improve. The company purchased $2.1 billion worth of stock last quarter which was partially responsible for seeing new highs reached in late August at $367.25 along with fresh stimulus hopes.  Shares of MA have since stumbled over the last three consecutive weeks and are now in a battle to stay above $300.   

 

Burning Fuel

Boeing (BA) announced aggressive plans to reduce their workforce by 7,000 more by the end of the year in this morning’s quarterly earnings report to stem their current burn-rate. The company burned through a staggering $4.8 Billion in cash over the previous three months as 737 Max troubles continue.  Over 3,000 test hours have now been completed to hopefully get the grounded aircraft back in the air after the 2-year grounding. The plane maker only delivered 28 planes during the last quarter as long hauler 787 Dreamliner traffic has been cut in half amid the pandemic.  Shares have fallen in the 3 previous sessions with a +/- $6 market maker move projected into earnings. 

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) -1.95%, near 3317

U.S. Crude Oil futures (/CL) -5.32%, near $37.42 a barrel

CBOE Volatility Index (VIX) +13.46%, near 37.84

U.S. Gold Futures (/GC) -1.64%, near $1878.90 an ounce

 

Major Economic Reports:

 

6:00 am CT – MBA Mortgage Applications

7:30 am CT – International Trade in Goods (Advanced)

7:30 am CT – Retail Inventories (Advanced)

7:30 am CT – Wholesale Inventories (Advanced)

9:30 am CT – EIA Petroleum Status Report

 

Notable Earnings

 

Wednesday:

A.M. – ADP, ANTM, BA, BSX, BX, CME, EPD, GD, GE, HES, MA, NSC, SNE, UPS, YNDX

 

P.M– AMGN, CREE, CTSH, CXO, EBAY, ETSY, F, FSLY, GILD, GRUB, KLAC, LVGO, NLY, NOW, PBR, PINS, SPWR, SU, TDOC, URI, V, WDC

 

Thursday:

A.M. – ADS, ALXN, AMT, APO, BAX, BUD, CMCSA, COP, CS, DD, DNKN, ICE, KDP, IP, KHC, MRNA, NEM, OSTK, PCG, PENN, RCL, RDS/A, RL, SHOP, SO, SPOT, TAP, TPR, TXT, YUM

 

P.M– ASB, BJRI, BMTC, BOOM, BY, COF, CYBE, EHTH, FE, FFBC, GBCI, HTH, INDB, INTC, LLNW, MANH, MAT, MSBI, NSGN, OZK, PBCT, SAM, SIVB, TFII, USX, VICR, VRSN, WAL, WSFS

 

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

 

*Follow us on Twitter @TradeWise

 

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

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Oct 27, 2020 - Market Blog

10/27/2020

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

AMD puts XLNX in the Chips

In the latest wave of semiconductor chip consolidation, Advanced Micro Devices (AMD) has agreed to purchase rival chip maker Xilinx Inc. (XLNX) for $35 billion.  The two companies agreed to an all-stock deal, after it was previously reported they were in talks, just over two weeks ago for $30 billion.  XLNX is currently trading almost 15% higher in the pre-market, while shares of AMD are just nominally higher. 

 

The CAT is trying to land on its feet

The heavy machinery maker, Caterpillar (CAT) is feeling the impact of the pandemic as construction has slowed in numerous industries.  Customers held off making heavy machinery purchases in the third quarter, which caused a 32% drop in sales.  Revenue declined 24% in energy and transportation, 21% in mining, and 23% in construction.  On the bright side, CAT saw strong demand in residential construction which they expect to continue.  Earnings came in at $1.34 per share which was better than the $1.17 that analysts were looking for.  Shares of CAT are trading just over 2% lower in the pre-market.

 

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +0.2%, near 3400

U.S. Crude Oil futures (/CL) +0.57%, near $38.75 a barrel

CBOE Volatility Index (VIX) -0.18%, near 32.40

U.S. Gold Futures (/GC) +0.04%, near $1906 an ounce

 

Major Economic Reports:

7:30 am CT – Durable Goods Orders

7:55 am CT – Redbook

8:00 am CT – Case-Shiller House Price Index

8:00 am CT – FHFA House Price Index

9:00 am CT – Consumer Confidence

9:00 am CT – Richmond Fed Manufacturing Index

 

Notable Earnings

 

Tuesday:

A.M. – BP, CAT, CMI, CNC, CSTM, GLW, HOG, JBLU, LLY, MMM, MRK, PFE, QSR, RTX, SPGI, SWK, TECK, TTM

P.M. – AFL, AKAM, AMD, CYH, FEYE, FISV, FSLR, JNPR, MSFT, OKE

 

Wednesday:

A.M. – ADP, ANTM, BA, BSX, BX, CME, EPD, GD, GE, HES, MA, NSC, SNE, UPS, YNDX

P.M. – AMGN, CREE, CTSH, CXO, EBAY, ETSY, F, FSLY, GILD, GRUB, KLAC, LVGO, NLY, NOW, PBR, PINS, SPWR, SU, TDOC, URI, V, WDC

 

 

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

 

*Follow us on Twitter @TradeWise

 

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

Oct 26, 2020 - The Week Ahead

10/26/2020

 

The Week Ahead

 

It’s FAANGamina Week

This week’s marquee earnings and economic data reports will take place later in the week, with the majority of the FAANG (Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX), Alphabet (GOOG, GOOGL)) stocks reporting earnings after market close on Thursday.   On Thursday morning, the first print of the third-quarter U.S. gross domestic product (GDP) will be released.  Every FAANG stock excluding Netflix (NFLX) will release earnings Thursday afternoon.  Big Tech’s run-up has cooled since they last reported results over the summer.  From July 30th on, Amazon (AMZN) has underperformed the broader market, rising 5% versus the S&P 500 gaining 6.8%.  Alphabet (GOOG, GOOGL) traded about in line with S&P 500, while Facebook (FB) and Apple (AAPL) each gained about 19% over that period. 

 

A Buyout with your Coffee and Donut

Shares of Dunkin’ Brands Group (DNKN) are up more than 18% in the pre-market after the parent of the Dunkin’ and Baskin-Robbins chain said it is in talks to be taken private in a deal worth roughly $8.8 billion.  The donut and ice cream chain has held talks to be acquired by the owner of the Buffalo Wild Wings, Sonic, Jimmy John’s and Arby’s restaurant chains.  Inspired Brands, a private equity-backed company, backed by Roark Capital could announce the deal as early as today.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) -1.04%, near 3416

U.S. Crude Oil futures (/CL) -2.63%, near $38.80 a barrel

CBOE Volatility Index (VIX) +8.50%, near 29.90

U.S. Gold Futures (/GC) +0.01%, near $1905.30 an ounce

 

Economic Releases (10/26-10/30):

 

Monday:

7:30 am CT – Chicago Fed National Activity Index

9:00 am CT – New Home Sales

9:30 am CT – Dallas Fed Manufacturing Survey

10:00 am CT – Export Inspections

3:00 pm CT – Crop Progress

 

Tuesday:

7:30 am CT – Durable Goods Orders

7:55 am CT – Redbook

8:00 am CT – Case-Shiller House Price Index

8:00 am CT – FHFA House Price Index

9:00 am CT – Consumer Confidence

9:00 am CT – Richmond Fed Manufacturing Index

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – International Trade in Goods (Advanced)

7:30 am CT – Retail Inventories (Advanced)

7:30 am CT – Wholesale Inventories (Advanced)

9:30 am CT – EIA Petroleum Status Report

 

Thursday:

7:30 am CT – Jobless Claims

7:30 am CT – GDP

7:30 am CT – Export Sales

9:00 am CT – Pending Homes Sales Index

9:30 am CT – EIA Natural Gas Report

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Friday:

8:45 am CT – Personal Income and Outlays

7:30 am CT – Employment Cost Index

8:45 am CT – Chicago PMI

9:00 am CT – Consumer Sentiment

12:00 pm CT – Baker-Hughes Rig Count

 

Major Earnings for the Upcoming Week (10/26-10/30):

 

Monday:

A.M. – HAS, HCA, OTIS

P.M. – AGNC, CHGG, FFIV, NOV, NXPI, TWLO

 

Tuesday:

A.M. – BP, CAT, CMI, CNC, CSTM, GLW, HOG, JBLU, LLY, MMM, MRK, PFE, QSR, RTX, SPGI, SWK, TECK, TTM

P.M. – AFL, AKAM, AMD, CYH, FEYE, FISV, FSLR, JNPR, MSFT, OKE

 

Wednesday:

A.M. – ADP, ANTM, BA, BSX, BX, CME, EPD, GD, GE, HES, MA, NSC, SNE, UPS, YNDX

P.M. – AMGN, CREE, CTSH, CXO, EBAY, ETSY, F, FSLY, GILD, GRUB, KLAC, LVGO, NLY, NOW, PBR, PINS, SPWR, SU, TDOC, URI, V, WDC

 

Thursday:

A.M. – ADS, ALXN, AMT, APO, BAX, BUD, CMCSA, COP, CS, DD, DNKN, ICE, KDP, IP, KHC, MRNA, NEM, OSTK, PCG, PENN, RCL, RDS/A, RL, SHOP, SO, SPOT, TAP, TPR, TXT, YUM

 

P.M. – AAPL, ADM, AMZN, ATVI, AUY, COG, CVNA, DVA, DVN, EXAS, FB, FLEX, GOOG, GOOGL, HIG, ILMN, MGM, MSI, OLED, SBUX, SHAK, SKX, STNE, TEAM, TWTR, VRTX, WW, X

 

Friday:

A.M. – ABBV, CBOE, CHTR, CL, CVX, GT, HON, KKR, LEA, LYB, MO, PSX, UA, UAA, WY, XOM

P.M.– N/A

 

 *Follow us on Twitter @TradeWise

 

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

 

TradeWise is offering a free trial for 2 trading strategies for 60 days each: Use coupon code marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

 

 

 

Showing Week of Oct 19, 2020

<< Prev | Next >>

Oct 23, 2020 - Market Blog

10/23/2020

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

Welcome to the Great Outdoors

Winnebago Industries (WGO) fell 11% this week despite reporting a solid Q4 profit. Revenue reached an impressive $738 million which was up nearly 40% from this same time last year. The company generated $42.5 million in earnings or $1.25 a share with a backlog of nearly 30,000 RV’s and motorhome orders still awaiting production.  The major concern going forward is that their supply chain can’t handle the surge in demand as delivery delays mount. Some speculate that 2021 could see over 500K units shipped in the sector overall as Covid-19 has forced more families to seek recreation time away from the crowds.  Shares of WGO have waned since peaking at $72.65 on June 23rd and currently hold near $51.   

 

Grounded

Shares of American Express (AXP) are coming under pressure this morning after reporting revenue of $8.75 billion vs. $11 billion last year which was just ahead of analyst expectations.  EPS came in light at $1.30 a share vs. its $1.33 estimate as company travel and entertainment continue to suffer a heavy blow. Consumer spending was a bright-spot ticking up by 1% to capture 71% of all transactions.  A projected market-maker-move of $2.90 looks to be tested with a 4% fall projected ahead of the open as AXP shares try to hang on above the century mark.  

 

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +0.32%, near 3459

U.S. Crude Oil futures (/CL) +0.03%, near $40.66 a barrel

CBOE Volatility Index (VIX) -1.71%, near 27.65

U.S. Gold Futures (/GC) +0.36%, near $1912 an ounce

 

Major Economic Reports:

8:45 am CT – PMI Composite Flash

12:00 pm CT – Baker-Hughes Rig Count

Notable Earnings

 

Friday:

A.M. – AXP, ITW

P.M.–  N/A

 

Monday:

A.M. – HAS, HCA

P.M– AGNC, FFIV,NOV, NXPI, TWLO.

 

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

 

*Follow us on Twitter @TradeWise

 

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

Oct 22, 2020 - Market Blog

10/22/2020   

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

Plugged In To Profits

Electric car maker, Tesla (TSLA) reported better than expected quarterly earnings after the close yesterday.  The company extended their profitability streak to three consecutive quarters with net profits of $331 million. This keeps Tesla on pace to make 2020 its first year of profitability after years in the red.  Despite the pandemic, CEO Elon Musk still has his sights on building 500,000 vehicles this year.  Tesla posted earnings per share of $0.76, beating estimates of $0.55.  Revenues came in at $8.77 billion, above analysts’ expectations of $8.28 billion.  TSLA shares are trading 4% higher in the pre-market.

 

Salsa Slip

After gaining over 200% from its mid- March, pandemic lows, Chipotle Mexican Grill (CMG) is trading lower despite better than expected earnings last night.  CMG reported earnings per share of $3.76, which was down from $3.82 a year ago, but better than estimates of $3.47.  Sales came in at $1.6 billion, while analysts were looking for $1.59 billion.  Shares of CMG are currently trading 5% lower in the pre-market.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) -0.2%, near 3425

U.S. Crude Oil futures (/CL) +0.75%, near $40.35 a barrel

CBOE Volatility Index (VIX) +1.7%, near 29.15

U.S. Gold Futures (/GC) -1.0%, near $1909 an ounce

 

Major Economic Reports:

 

7:30 am CT – Jobless Claims

7:30 am CT – Export Sales

9:00 am CT – Existing Home Sales

9:00 am CT – Leading Indicators

9:30 am CT – EIA Natural Gas Report

10:00 pm CT – Kansas City Fed Manufacturing Index

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

8:00 pm CT-- Final Presidential Debate

 

Notable Earnings

 

Thursday:

A.M. – AAL, CTXS, DOW, FCX, KMB, KO, LUV, NOC, NUE, PHM, SIRI, T, TSCO, UNP, VLO

P.M. – COF, INTC, MAT, STX

 

Friday:

A.M. – AXP, ITW

P.M. – N/A

 

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

 

*Follow us on Twitter @TradeWise

 

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

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Oct 21, 2020 - Market Blog

10/21/2020

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

Snap, Crackle and Popping

Snap (SNAP) is surging higher this morning thanks to Q3 earnings results, which were released after the bell last night.  Snap’s earnings blew past analyst expectations on virtually every metric that matters.  Earnings per share of $0.01 beat estimates of $(0.05), while revenue rose 52% to $678.7 million, surpassing estimates of $557 million.  The social media company added 11 million users in the prior quarter to end the  period with 249 million daily users.  The user growth was also stronger than predicted and showed the platform benefited from strong engagement even with the emergence of TikTok and strong results earlier this year from Facebook’s (FB) networks.  The company said it continues to see strong engagement among Gen Z and millennial users in the U.S., U.K, and France.  Shares are trading 20% higher in the pre-market.

 

Binge-watching during a pandemic

Netflix (NFLX) reported paid subscriber additions and guidance that missed estimates for the latest quarter, with subscriber growth decelerating more sharply over the course of 2020 after a strong initial surge in sign-ups.  The streaming giant earned $1.74 per share, missing the estimates of $2.13 per shares on better revenue of $6.44 billion for the quarter.  The company added just 2.2 million new members versus the 2.5 million the company had expected over the summer.  That number is much lower than the 10 million subscribers that joined Netflix during the second quarter and the nearly 16 million paying users added during the first quarter.  Shares of NFLX are trading 5% lower in the pre-market.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +0.10%, near 3436

U.S. Crude Oil futures (/CL) -1.32%, near $41.15 a barrel

CBOE Volatility Index (VIX) +3.95%, near 30.50

U.S. Gold Futures (/GC) +0.64%, near $1927.50 an ounce

 

Major Economic Reports:

 

6:00 am CT – MBA Mortgage Applications

9:30 am CT – EIA Petroleum Status Report

1:00 pm CT – Beige Book

 

Notable Earnings

 

Wednesday:

A.M. – ABT, AN, APH, AVY, BIIB, BKR, BOKF, CADE, ERIC, EVR, FBC, HCSG, IPG, KEY, KNX, LAD, NDAQ, NEE, NEP, NTRS, SCL, SLGN, TDY, TMO, VZ, WGO

 

P.M. – ALGN, BANR, BCOV, BDN, BPFH, CCI, CLB, CMG, CNS, CSX, CVBF, DFS, EFX, EGBN, EW, FR, FTI, GC, GGG, GL, GSBC, GTY, HLX, ICLR, KMI, LOB, LRCX, LSTR, LVS, MTH, NTGR, NEW, PINE, RUSHA, SAVE, SEIC, SLG, SLM, SRE, STC, STL, SUI, TRN, TSC, TRST, TSLA, UFPI, UMPQ, VMI, WHFC, WHR, WSBC, WTFC, XLNX

 

Thursday:

A.M. – AAL, AB, AEP, ALK, ALLE, ARCH, AUB, AXTA, BANC, CHKP, CRS, CTXS, DGX, DHR, DOW, ENTG, EQT, EWBC, FAF, FCX, FITB, GPC, GTLS, GWW, HBAN, HRI, HSY, KMB, KO, LNN, LUV, MTB, MTRN, NOC, NUE, ORI, PHM, POOL, PTEN, RCI, RS, SAFE, SASR, SCHN, SIRI, SNA, STBA, STM, T, TAL, TPH, TSCO, UNP, VLO, VLY, WBS, WRLD, WSO, WST

 

P.M. – ABCB, ACBI, ASB, BJRI, BMTC, BOOM, BY, COF, CYBE, EHTH, FE, FFBC, GBCI, HTH, INDB, INTC, LLNW, MANH, MAT, MSBI, NSGN, OZK, PBCT, SAM, SIVB, TFII, USX, VICR, VRSN, WAL, WSFS

 

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

 

*Follow us on Twitter @TradeWise

 

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

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

 

 

Oct 20, 2020 - Market Blog

10/20/2020

 

Option Trade Ideas for your Inbox!  New Subscribers can Get 2 Free Strategies for 60 days by emailing support@tradewise.com or calling 877.733.6786*

 

The Power of Tide Clean!

One of the world’s largest consumer product manufacturers, Procter and Gamble (PG) just beat both top and bottom-line estimates after earning $1.63 per share over the last quarter. The result easily beat consensus by a healthy $0.21 margin.  Overall, the company runs 21 different brands that each generate over $1 billion in annual revenue across the globe.  Net sales reached $19.2 billion over the previous three months which was nearly $1 billion more than analysts expected as consumers ramped up spending. Sales growth for fiscal year 2021 was also bumped up to 3-4% which is encouraging considering many companies backing away from providing guidance altogether.  Shares are up 1.5% ahead of the open and will attempt to retake its all-time high of $145.87 carved out last Friday. 

 

Hey Google, Search “Anti-Trust”

Shares of Alphabet (GOOG) are coming under pressure today as a long-awaited showdown with the U.S. Justice Department finally appears to be coming to a head.  A Federal lawsuit is expected to be filed in Washington D.C. today over monopolistic practices which have only expanded over the last decade with over 10 state attorney generals expected to jump on board the complaint. Google services 80% of all web search queries which makes it nearly impossible for competitors to become relevant in the space as the company reaches a $1 trillion market cap. The legal proceedings are expected to take years, but this is the most aggressive action taken toward big tech since Microsoft (MSFT) settled for similar practices in the late 90’s which will have massive implications depending on the outcome. Shares of down 3% from yesterday’s highs likely in anticipation of the legal battle ahead. 

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +0.40%, near 3436

U.S. Crude Oil futures (/CL) -1.3%, near $40.53 a barrel

CBOE Volatility Index (VIX) -1.37%, near 28.75

U.S. Gold Futures (/GC) -0.37%, near $1904 an ounce

 

Major Economic Reports:

 

5:00 am CT – Housing Starts and Permits

 

7:55 am CT – Redbook

 

Notable Earnings

 

Tuesday:

A.M. – LMT, PG, PM, SYF

 

P.M. – IRBT, NFLX, SNAP, THC, TXN

 

Wednesday:

A.M. – ABT, BIIB, KEY, VZ

 

P.M– ALGN, CMG, CSX, DFSEW, KMI, LRCX, LVS, TSLA, WHR, XLNX

 

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

 

*Follow us on Twitter @TradeWise

 

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

Oct 19, 2020 - The Week Ahead

10/19/2020

 

The Week Ahead

 

Oily Slip on Revenue

Haliburton (HAL) reported better than expected adjusted earnings this morning, but they slipped up on revenue.   HAL posted third quarter adjusted earnings of $0.11 per share while analysts were looking for $0.09 per share.  The oil field services giant generated $2.98 billion in revenue which was down from last year’s figure of $5.55 billion and below analysts’ expectations of $3.12 billion.  Shares of HAL are trading less than 1% lower in the pre-market.

 

Stimulated and Politically Charged

U.S. equity futures (/ES) are trading higher this morning on new hopes for a stimulus deal before the November 3rd election.  President Trump said that he was looking for “a bigger number” from the Senate Republicans, while House Speaker Pelosi has set Tuesday as a deadline for reaching a deal.  The next and final Presidential debate will be held Thursday night, with Biden still holding a substantial lead.  On Friday, the Senate will vote on the confirmation of Judge Barrett for the SCOTUS, which is expected.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +0.72%, near 3498

U.S. Crude Oil futures (/CL) -1.45%, near $40.02 a barrel

CBOE Volatility Index (VIX) +0.16%, near 25.04

U.S. Gold Futures (/GC) +0.10%, near $1928 an ounce

 

Economic Releases (10/19-10/23):

Monday:

9:00 am CT –  Housing Market Index

10:00 am CT– Export Inspections

3:00 pm CT –  Crop Progress

 

Tuesday:

5:00 am CT – Housing Starts and Permits

7:55 am CT – Redbook

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

9:30 am CT – EIA Petroleum Status Report

1:00 pm CT – Beige Book

 

Thursday:

7:30 am CT – Jobless Claims

7:30 am CT – Export Sales

9:00 am CT – Existing Home Sales

9:00 am CT – Leading Indicators

9:30 am CT – EIA Natural Gas Report

10:00 pm CT – Kansas City Fed Manufacturing Index

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

8:00 pm CT-- Final Presidential Debate

 

Friday:

8:45 am CT – PMI Composite Flash

12:00 pm CT – Baker-Hughes Rig Count

 

Major Earnings for the Upcoming Week (10/19-10/23):

Monday:

A.M. – HAL

P.M. – IBM, PPG

 

Tuesday:

A.M. – LMT, PG, PM, SYF

P.M. – IRBT, NFLX, SNAP, THC, TXN

 

Wednesday:

A.M. – ABT, BIIB, KEY, VZ

P.M. – ALGN, CMG, CSX, DFS, EW, KMI, LRCX, LVS, TSLA, WHR, XLNX

 

Thursday:

A.M. – AAL, CTXS, DOW, FCX, KMB, KO, LUV, NOC, NUE, PHM, SIRI, T, TSCO, UNP, VLO

P.M. – COF, INTC, MAT, STX

 

Friday:

A.M. – AXP, ITW

P.M.–  N/A

 

 *Follow us on Twitter @TradeWise

 

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

 

TradeWise is offering a free trial for 2 trading strategies for 60 days each: Use coupon code marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com