Market movement today There are no market movers on the calendar today. This week we’ll focus on US data releases with the planned November jobs report, ISM services and the University of Michigan survey. We expect further cooling in non-farm payrolls on Friday to +140k and expect average hourly earnings to grow steadily at 0.2%. … Read more
The previous week marked a significant shift in market sentiment regarding expectations of a Federal Reserve (Fed) rate hike. The latest Consumer Price Index (CPI) update revealed a slower-than-expected inflation rate in the US, along with politicians fending off a government shutdown. Despite these factors, the US 2-year yield tested 4.80% for a fourth time, … Read more
markets Until about a month ago, the market dynamics of earnings moved “standardly” higher on days when there were no relevant news for the market. A series of softer (or perceived soft) data has since caused the market to turn 180 degrees. The central bankers’ mantra of “higher for longer” has been shelved. The key … Read more
Today’s market movers US CPI for October is the highlight of this week in terms of data releases. We expect core at 0.1m/m and core at 0.3% m/m in line with consensus, but with uncertainty stemming from the auto workers’ strike, which may have temporarily boosted car prices, as well as technical factors related to … Read more
Investors will get clues about consumer sentiment this week from retail companies scheduled to report earnings. Among the companies slated to post earnings are Target, Walmart and Home Depot. Those reports come as investors fret about the possibility of a recession next year. The third quarter earnings season largely exceeded expectations. More than 90% of … Read more
Sony reported a 29% drop in operating profit for the second quarter as the company experienced weakness in its image sensor business. Sony’s sharp decline in profits was attributed to weakness in its imaging sensor business, as well as lower profits in its financial services and entertainment, technology and services divisions. As the company stated … Read more
markets Curve inversion/overcoming the long end was the name of the game in the major bond markets yesterday. US yields advanced between 1.4bps (2y) and 11bps (30y). The US 10-year yield closed near the key 4.50% benchmark. German returns showed a similar picture. The 2-year still gained 3.1 bps, but the 30-year fell 8.1 bps. … Read more
markets Curve inversion/overcoming the long end was the name of the game in the major bond markets yesterday. US yields advanced between 1.4bps (2y) and 11bps (30y). The US 10-year yield closed near the key 4.50% benchmark. German returns showed a similar picture. The 2-year still gained 3.1 bps, but the 30-year fell 8.1 bps. … Read more
Pfizer’s third-quarter financial report fell short of Wall Street expectations Tuesday morning, a few weeks after the company sharply cut sales forecasts for its Covid-19 products. Pfizer (ticker: PFE) reported an adjusted diluted loss of 17 cents per share on revenue of $13.2 billion in the third quarter. Analysts surveyed by FactSet were expecting Pfizer … Read more
Investors shouldn’t jump to load up on Apple ( AAPL ) shares due to a few cautious reports ahead of this week’s quarterly results. In recent days, the narrative shaped by financial media and Wall Street analysts has focused on Apple’s relationship with Alphabet ( GOOGL ) on Google Search, the iPhone 15’s first sales … Read more