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Feb 24, 2020 - The Week Ahead

2/24/2020

 

The Week Ahead

 

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Growing Concerns

Concerns that the coronavirus outbreak is moving towards a global pandemic are growing as cases have multiplied in different regions of the world.  Cases in Iran and Italy are displaying  much higher mortality rates than in China, which suggests the number of reported cases in China could be higher.  The total number of confirmed cases now stands at just over 77,000, with deaths caused by the virus at 2,593 worldwide.  Outside of China, there are now over 800 cases reported in South Korea alone.

 

Flight to Safety

As investors’ concerns grow, equity markets are moving sharply lower worldwide.  Gold (/GC) is surging, up over 2% with the precious metal now solidly trading above $1600 a troy ounce.  The risk off mentality has U.S. Treasury bonds higher, with the 30yr. yield now lower near 1.8%.  S&P 500 futures are currently over 100 points or 3% lower near 3237.

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -3.0% near 3237

U.S. Crude Oil futures (/CL) -4.6% near $50.90 a barrel

CBOE Volatility Index (VIX) +40.0%  near  24.00

 

 

Major Earnings for the Upcoming Week (2/24-2/28):

 

Monday:

A.M. – CRI, CTB, DDS, DORM, EPZM

P.M. – APTS, ARGO, HALO, HLX, HPQ, HTA,INTU, OKE, PANW, RCII, SHAK, THC, TNDM

 

Tuesday:

A.M. – AMT, CBRL, HD, LL, LNG, M, MNK, MNKD, TREE, TUP, WB

P.M. – ARNA, CRM, CZR, INFN, SPCE, TOL, UNVR, WW

 

Wednesday:

A.M. – AMRN, IONS, LOW, MYL, PZZA, SEAS, SSYS, TJX, WEN

P.M. – ACAD, APA, BKNG, CVNA, DDD, ETSY, LB, MAR, MNST, SQ

 

Thursday:

A.M. – BAX, BBY, BUD, CRON, CROX, EDIT, FOLD, ICPT, JD, NRG, PCG, SAGE, SHOO

P.M. – AAOI, ADSK, BIDU, BYND, EOG, IQ, NKTR, OXY, PTCT, SRPT, TTD, VMW, WDAY

 

Friday:

A.M. – FL, W

P.M. – N/A

 

Economic Releases (2/24-2/28):

Monday:

7:30 am CT – Chicago Fed National Activity Index

9:30 am CT – Dallas Fed Mfg Survey

 

Tuesday:

7:55 am CT – Redbook

8:00 am CT – FHFA House Price Index

8:00 am CT – S&P Corelogic Case Schiller HPI

8:00 am CT – Consumer Confidence

9:00 am CT – Richmond Fed Manufacturing Index

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – New Home Sales

7:30 am CT – State Street Investor Confidence Index

9:30 am CT – EIA Petroleum Status Report

 

Thursday:

7:30 am CT – Jobless Claims

7:30 am CT – GDP

7:30 am –       Durable Goods Orders

9:30 am CT – EIA Natural Gas Report

10:00 am CT – Kansas City Fed Manufacturing Index

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Friday:

7:00 am CT – CPI

7:30 am CT – GDP

7:30 am CT – International Trade In Goods

8:45 am CT – Chicago PMI

9:00 am CT – Consumer Sentiment

12:00 pm CT – Baker-Hughes Rig Count

 

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

 

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Showing Week of Feb 17, 2020

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Feb 21, 2020 - Market Blog

2/21/2020

 

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Oh Deere!

Farm equipment maker Deere (DE) reported earnings of $1.63 per share compared to $1.54 per share a year ago.  A total of $6.5 billion in equipment sales were registered for the first quarter ending in January to beat expectations.  Deere stated that it sees signs of stabilization in the U.S. farm sector and though framer confidence is still subdued. The mood has improved due in part to hopes of a relaxation of trade tensions and higher agricultural exports. Deere is trading 6.4% higher in pre-market now just $5 away from its all-time high.

 

‘Drop’ it likes it hot

Dropbox (DBX) is higher in pre-market trading after the cloud-based storage company posted better-than-expected fourth-quarter results and announced a large stock repurchase plan worth $600 million. For the quarter Dropbox reported revenue of $446 million, up 19% from a year ago, ahead of the consensus estimate of $443.4 million.  Earnings were $0.16 per share, which beat the consensus estimate of $0.14 per share by 14.29%.  This is an 60% increase over earnings of 10 cents per share from the same period last year. Shares of DBX are up 15% as a result near $21.60 ahead of the open.  

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.4% near 3356

U.S. Crude Oil futures (/CL) -1.75% near $53.00 a barrel

CBOE Volatility Index (VIX) +8.0%  near 16.80

 

Chewy (CHWY) +4.0% near $33.30, after outperform status from analyst 

Weight Watchers (WW) +4.0% near $39.36, after the company sees a healthy upgrade 

First Solar (FSLR) -11.75% near $52.35, after the solar-power company reported weaker earnings

 

Major Economic Reports:

 

7:30 am CT – Retail Sales

9:00 am CT – Existing Home Sales

 

Notable Earnings:

 

Friday:

A.M. – DE, HSC, RY

P.M. – N/A

 

Monday:

A.M. – CRSP, DDS

P.M. – OKE, SHAK, THC, TNDM

 

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

 

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Feb 20, 2020 - Market Blog

2/20/2020

 

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The Secret is Out

Sycamore Partners is set to take a controlling stake of Victoria’s Secret from parent company-L Brands (LB) which is valued near $1.1 Billion for a reported $525 million. The company has struggled to adapt to a quickly changing retail landscape over past years as sales have shifted online toward cheaper alternatives. Founder and longstanding CEO, Les Wexner also revealed plans to step down from his position while maintaining his seat on the board.  The company will continue to operate its popular Bed Bath and Body Works Unit independently which just saw quarterly comps jump 10% compared to the same period last year. Shares of LB are down 12% ahead of the open as investors digest the monumental change. 

 

Domino’s Delivers

Shares of the re-invented pizza company are enjoying a strong showing today after smashing both earning and revenue estimates.  Net income exceeded $129 million which was $20 million more than last year at this same time.  The jump was attributed to higher franchise revenue and lower admin costs.  Same store also sales jumped by 3.4% despite growing competition from other delivery services.  There were 141 new stores added over the 4th quarter as their international footprint expands. Shares of DPZ are up an impressive 17% ahead of the open near $353. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.22% near 3379

U.S. Crude Oil futures (/CL) +0.7% near $53.86 a barrel

CBOE Volatility Index (VIX) +3.0% near 14.81

 

Zillow (Z) +8% near $61.50, after beating revenue expectations thanks to $1 billion in house flipping

Morgan Stanley(MS) -3% near $53.66, after the company announces plans to acquire E*TRADE for $13 Billion.   

 

Major Economic Reports:

7:30 am CT – Philadelphia Fed Business Outlook Survey

7:30 am CT – Jobless Claims

9:00 am CT – Leading Indicators

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. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX

P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE

 

Friday:

A.M. – DE, HSC, RY

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*

 

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

 

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Feb 20, 2020 - Market Blog

2/20/2020

 

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The Secret is Out

Sycamore Partners is set to take a controlling stake of Victoria’s Secret from parent company-L Brands (LB) which is valued near $1.1 Billion for a reported $525 million. The company has struggled to adapt to a quickly changing retail landscape over past years as sales have shifted online toward cheaper alternatives. Founder and longstanding CEO, Les Wexner also revealed plans to step down from his position while maintaining his seat on the board.  The company will continue to operate its popular Bed Bath and Body Works Unit independently which just saw quarterly comps jump 10% compared to the same period last year. Shares of LB are down 12% ahead of the open as investors digest the monumental change. 

 

Domino’s Delivers

Shares of the re-invented pizza company are enjoying a strong showing today after smashing both earning and revenue estimates.  Net income exceeded $129 million which was $20 million more than last year at this same time.  The jump was attributed to higher franchise revenue and lower admin costs.  Same store also sales jumped by 3.4% despite growing competition from other delivery services.  There were 141 new stores added over the 4th quarter as their international footprint expands. Shares of DPZ are up an impressive 17% ahead of the open near $353. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.22% near 3379

U.S. Crude Oil futures (/CL) +0.7% near $53.86 a barrel

CBOE Volatility Index (VIX) +3.0% near 14.81

 

Zillow (Z) +8% near $61.50, after beating revenue expectations thanks to $1 billion in house flipping

Morgan Stanley(MS) -3% near $53.66, after the company announces plans to acquire E*TRADE for $13 Billion.   

 

Major Economic Reports:

7:30 am CT – Philadelphia Fed Business Outlook Survey

7:30 am CT – Jobless Claims

9:00 am CT – Leading Indicators

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. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX

P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE

 

Friday:

A.M. – DE, HSC, RY

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

Feb 19, 2020 - Market Blog

2/19/2020

 

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Not So Heavy Metal

Palladium futures (/PA) rallied 7.8% to a new record of $2,497 a troy ounce in yesterday’s trading, despite an extended disruption of China’s automotive market due to the coronavirus outbreak.  The metal has been in high demand as auto makers seek to meet  tighter emissions standards.  It has continued to extend its gains this year, with a greater than 30% rise in 2020.  If Palladium continues to rise, there are thoughts the expense could force auto makers to add electric vehicles to their lineups faster than previously planned.

 

The Hits Just Keep Coming…

Boeing (BA), manufacturer of the troubled 737 MAX airplane, has a new issue to worry about.  If the flight control software debacle wasn’t enough, the company has discovered debris in undelivered plane’s fuel tanks.  The debris was found in an undisclosed number of 737 MAX’s that were stored in Texas and Washington state, during  routine inspections.

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) +0.35% near 3381

U.S. Crude Oil futures (/CL) +1.4% near $53 a barrel

CBOE Volatility Index (VIX) -4%  near 14.25

 

Palladium  (/PA) +7.1% near $2674, continuing its epic rally

Groupon (GRPN) -31% near $2.10, after a disappointing earnings report

 

Major Economic Reports:

 

6:00 am CT – MBA Mortgage Applications

7:30 am CT – CPI

7:30 am CT -  PPI-FD

7:30 am CT – Housing Starts

7:55 am CT –  Redbook

9:00 am CT –  E-Commerce Retail Sales

1:00 pm CT – FOMC Minutes

 

Notable Earnings:

 

Wednesday:

A.M. – ADI, AG, APRN, ATHM, BHC, DISH, FUN, GPC, IMAX, THRM, VIPS, WING

P.M. – CAKE, CAR, CYH, FOSL, H, JACK, MOS, NTES, PAAS, PXD, STMP, WMB, Y, Z, ZG

 

Thursday:

A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX

P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE

 

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

Feb 18, 2020 - The Week Ahead

2/18/2020

 

The Week Ahead

 

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Hey Warren, what’s in your grocery cart?

Warren Buffet’s Berkshire Hathaway (BRKB) disclosed in its 13f filing with the Securities and Exchange Commission that it purchased 18.9 million shares of Kroger (KR) in 4Q of 2019.  Shares of Kroger (KR) are trading higher in pre-market.  In addition to purchasing a new stake in the grocery chain, Berkshire also initiated a stake in Biogen (BIIB) and more than doubled its investment in Occidental Petroleum (OXY).  The investment giant trimmed its stake in Apple (AAPL), Wells Fargo (WFC) and American Airlines (AAL) among a few others.

 

Sour Apple

Apple (AAPL) is trading down in pre-market after the computer giant warned that it does not expect to meet its own guidance for the March quarter because of  impact from the coronavirus.  The tech company had previously forecasted fiscal second-quarter revenue of $63 to $67 billion, and said it will fall short of those figures due to limited iPhone production for worldwide sales and lower demand for its products in China.  They did not give a new revenue estimate for the quarter, saying it will provide more information during its next earnings call in April. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.4% near 3368

U.S. Crude Oil futures (/CL) -1.9% near $51.30 a barrel

CBOE Volatility Index (VIX) +10.0%  near 15.00

 

Kroger’s (KR) +6.2% near $30.00, after Berkshire Hathaway initiated position in grocery chain

Apple (AAPL) -2.0% near $318.50, after company warned coronavirus will negatively impact revenue for the March quarter

Legg Mason(LM) +23.4% near $50.25, after company agreed to be purchased by Franklin Resources (BEN) for $50 per share

 

Major Earnings for the Upcoming Week (2/17-2/21):

Monday:

U.S. Holiday – Presidents Day, Markets Closed

 

Tuesday:

A.M. – AAP, ECL, FLR, HSBC, MDT, SAGE, TRU, WLK, WMT

P.M. – A, DVN, GRPN, HLF, LZB, NTR, TIVO, VNO

 

Wednesday:

A.M. – ADI, AG, APRN, ATHM, BHC, DISH, FUN, GPC, IMAX, THRM, VIPS, WING

P.M. – CAKE, CAR, CYH, FOSL, H, JACK, MOS, NTES, PAAS, PXD, STMP, WMB, Y, Z, ZG

 

Thursday:

A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX

P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE

 

Friday:

A.M. – DE, HSC, RY

P.M. – N/A

 

Economic Releases (2/17-2/21):

 

Monday:

U.S. Holiday – Presidents Day, Markets Closed

 

Tuesday:

7:30 am CT – Empire State Mfg Survey

7:30 am CT – Manufacturing Sales

9:00 am CT – Housing Market Index

3:00 pm CT – Treasury International Capital

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – CPI

7:30 am CT - PPI-FD

7:30 am CT – Housing Starts

7:55 am CT – Redbook

9:00 am CT – E-Commerce Retail Sales

1:00 pm CT – FOMC Minutes

 

Thursday:

7:30 am CT – Philadelphia Fed Business Outlook Survey

7:30 am CT – Jobless Claims

9:00 am CT – Leading Indicators

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

9:00 am CT – Existing Home Sales

 

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

 

Feb 18, 2020 - The Week Ahead

2/18/2020

 

The Week Ahead

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

Hey Warren, what’s in your grocery cart?

Warren Buffet’s Berkshire Hathaway (BRKB) disclosed in its 13f filing with the Securities and Exchange Commission that it purchased 18.9 million shares of Kroger (KR) in 4Q of 2019.  Shares of Kroger (KR) are trading higher in pre-market.  In addition to purchasing a new stake in the grocery chain, Berkshire also initiated a stake in Biogen (BIIB) and more than doubled its investment in Occidental Petroleum (OXY).  The investment giant trimmed its stake in Apple (AAPL), Wells Fargo (WFC) and American Airlines (AAL) among a few others.

 

Sour Apple

Apple (AAPL) is trading down in pre-market after the computer giant warned that it does not expect to meet its own guidance for the March quarter because of  impact from the coronavirus.  The tech company had previously forecasted fiscal second-quarter revenue of $63 to $67 billion, and said it will fall short of those figures due to limited iPhone production for worldwide sales and lower demand for its products in China.  They did not give a new revenue estimate for the quarter, saying it will provide more information during its next earnings call in April. 

 

Pre-Market Movers and Shakers

S&P 500 futures (/ES) -0.4% near 3368

U.S. Crude Oil futures (/CL) -1.9% near $51.30 a barrel

CBOE Volatility Index (VIX) +10.0%  near 15.00

 

Kroger’s (KR) +6.2% near $30.00, after Berkshire Hathaway initiated position in grocery chain

Apple (AAPL) -2.0% near $318.50, after company warned coronavirus will negatively impact revenue for the March quarter

Legg Mason(LM) +23.4% near $50.25, after company agreed to be purchased by Franklin Resources (BEN) for $50 per share

 

Major Earnings for the Upcoming Week (2/17-2/21):

Monday:

U.S. Holiday – Presidents Day, Markets Closed

 

Tuesday:

A.M. – AAP, ECL, FLR, HSBC, MDT, SAGE, TRU, WLK, WMT

P.M. – A, DVN, GRPN, HLF, LZB, NTR, TIVO, VNO

 

Wednesday:

A.M. – ADI, AG, APRN, ATHM, BHC, DISH, FUN, GPC, IMAX, THRM, VIPS, WING

P.M. – CAKE, CAR, CYH, FOSL, H, JACK, MOS, NTES, PAAS, PXD, STMP, WMB, Y, Z, ZG

 

Thursday:

A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX

P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE

 

Friday:

A.M. – DE, HSC, RY

P.M. – N/A

 

Economic Releases (2/17-2/21):

 

Monday:

U.S. Holiday – Presidents Day, Markets Closed

 

Tuesday:

7:30 am CT – Empire State Mfg Survey

7:30 am CT – Manufacturing Sales

9:00 am CT – Housing Market Index

3:00 pm CT – Treasury International Capital

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – CPI

7:30 am CT - PPI-FD

7:30 am CT – Housing Starts

7:55 am CT – Redbook

9:00 am CT – E-Commerce Retail Sales

1:00 pm CT – FOMC Minutes

 

Thursday:

7:30 am CT – Philadelphia Fed Business Outlook Survey

7:30 am CT – Jobless Claims

9:00 am CT – Leading Indicators

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

9:00 am CT – Existing Home Sales

 

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