tyb
Morning Market Report
Good, strong open on the budget deal announced yesterday. No poison pill clause is sorely needed. Let's hope munchkins doesn't fuck that up with treasury games.
Doing it's morning drop a bit from where futures indicated it would open. Better than down though. NASDAQ currently approaching the neckline, yesterday's close. This will tempt new shorts.
Lot's of earnings out and most seem to be doing well, except for Harley Davidson-you do not recover from a -26% drop in operating income
easily. Sucks to be you but you made your choices and will lie in that bed. Lockheed beat estimates (not hard to do now) but raised it's forward guidance due
to strong demand for the F-35. They had a large % increase with Terminal High Altitude Area Defense (THAAD), was one of its best-performing units where sales grew 15.6% to $2.41 billion during the quarter.
Overall high demand in sales from its aeronautics business, its biggest, rose 4.3% to $5.55 billion, powered by higher F-35 jets production.
Apple Inc. extending gains from yesterday following a report in the Wall Street Journal that it is in “advanced talks’ to buy Intel Corp.’s smartphone-modem chip business, valued at $1 billion.
Apple stock rose 2.3% Monday, the best performing stock in the Dow. This helped cushion the downgrade that was dumped on Boeing by Fitch intraday, yesterday. They never used to do this during
market hours-only rarely. Kimberly-Clark Corp, Sherwin-Williams Co, Snap Inc. and Biogen all up after earnings.
Oil is relatively flat to up slightly and still in a congestion area trading wise, Gold fairly quiet but silver making some noise-see cap #4: $1424.xx and $16.4x-don't miss the boat here. Surprised we have not seen some whackage yet.
In too bad, so sad to be you news: The IMF cut it's global forecast at the top of the hour: The IMF now sees growth of 3.2% this year -- down one-tenth from April and five-tenths from October.
Here was the 'meat' statement : The IMF raised its U.S. growth estimate for 2019 by three-tenths to 2.6%, largely based on first quarter data. Growth is expected to lose momentum over the rest of the year.
In 2020, the U.S. growth rate is expected to moderate to 1.9%. They also trotted out the same tired old story about the middle east "Geo-political riks" since when has that NOT been true.
Like blaming the weather for poor retail sales. DERP!!!. They also think that tariffs are going to spike inflation too. It will pressure it but should abate fairly quick once the world starts to
recognize it's time to take care of yourself instead of this globalist shit. Earlier in the session, Asian stocks advanced, led by technology companies, as Washington and Beijing moved closer to their first face-to-face trade talks in months.
Chinese proprty bonds are sperging out as well, this just another harbinger of it's coming doom and the PBOC will have to add this to it's "list" of 'glitches to fix'.
The "new" Chinese NASDAQ style index (STAR) decided it had enough of it's moon shot on the first full-day and fell on it's own weight, read moar at these pb crumbs.
>>7141618, >>7141654 pb China's new Nasdaq-style Star Market plunges on second day of trading
In rates, the 10Y Treasury has something get up it's ass as our mkts opened-see cap#. "should" have dropped as our mkts rise-can't rely on old correlations any longer.
Japan Nikkei was up good(+204.09 + 0.95%) but it has it's own problems seeing as the BOJ owns a large portion of debt and it's equity's-not a good recipe and they have an almost bigger job removing the central banks control over it's economy. ASO and Kuroda are
deep state swamp creatures-as shown in Japan anons graphic in lb. Go easy on Abe-san japan-anon, he has had many issue's to deal with over the years and did the best he could while being controlled. I still feel he could have done moar with helping after fukushima
but he was comped and they had muh yakuza "take care" of that so the perception was that they were good for you-just an opinion and nothing moar (I do not live there, you do so mktfag understands how you feel) so don't take it personally.
ECB on thursday and that should be interdasting knowing that bojo is now the new PM. Britain’s pound initially slid toward the mid $1.24 region, however it recouped all losses after euroskeptic Boris Johnson was elected to replace Prime Minister Theresa May-Buh bye Mrs. May.
Part 1/2
sauce in part 2 with a house-keeping note regarding Insider sales website, please take note
Part 2/2
Some headlines
AT&T: Assessing AT&T's Debt And Dividend Safety By End Of Q1 2019
AT&T's debt reached a record $190B, but the company has already paid back billions of debt following the Time Warner acquisition.
While AT&T is one of the largest issuers of bonds in corporate America and generating loads of cash flow, investors are punishing the stock on looming debt concerns.
https://seekingalpha.com/article/4276614-t-assessing-and-ts-debt-dividend-safety-end-q1-2019
good luck with that one
and in NFW news
Amazon Plows Into Real Estate Market With Realogy Pact To Transform Homebuying Process
Unhappy with its market share in the US real estate market, the largest online retailer in the world and global commercial monopolist, Amazon, announced a deal on Tuesday morning with the largest US residential real estate brokerage company, Realogy, in a strategy designed to boost sales for both.
As CNBC reports, Realogy - whose stock soared 25% on the news - and Amazon will now offer TurnKey, a horizontally and vertically integrated program meant to streamline and optimize the home- and furniture-buying process, by taking potential homebuyers through the Amazon portal and connects them to a Realogy agent.
Once they purchase a home, they then get complimentary Amazon Home Services and products worth up to $5,000.
https://www.zerohedge.com/news/2019-07-23/amazon-plows-real-estate-market-realogy-pact-transform-homebuying-process
EU has 35 billion euro list ready if U.S. hits EU cars: EU trade chief
The European Union would retaliate with extra duties on 35 billion euros ($39.1 billion) worth of U.S. goods if Washington went ahead with tariffs on EU cars, the bloc’s trade chief said on Tuesday.
“We will not accept any managed trade, quotas or voluntary export restraints and, if there were to be tariffs, we would have a rebalancing list,” European Trade Commissioner Cecilia Malmstrom told a committee of the European Parliament.
“It is already basically prepared, worth 35 billion euros. I do hope we do not have to use that one,” she continued.
https://www.reuters.com/article/us-usa-trade-eu/eu-has-35-billion-euro-list-ready-if-u-s-hits-eu-cars-eu-trade-chief-idUSKCN1UI1R6
go right ahead..who gonna feed you too?
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
https://www.kitco.com/charts/livesilver.html
'''A house-keeping note, the site I have used to verify insider trades has now gone full retard and charging for use with current data so off it goes: secform4.com,
they were off-line a few weeks ago for a few days-upgraded hardware. And you are welcome for driving traffic to your site-douchebag'''
Will use another and verify through official SEC site-hate it's interface and over the years did not want a trace to it's site but that's life.
It's also getting busier so these are longer as need to capture the stuff that habbens after mrkts open.
NAR: Existing-Home Sales Decreased to 5.27 million in June
Existing-home sales weakened in June, as total sales saw a small decline after a previous month of gains, according to the National Association of Realtors®.
While two of the four major U.S. regions recorded minor sales jumps, the other two – the South and the West – experienced greater declines last month.
Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June.
Sales as a whole are down 2.2% from a year ago (5.39 million in June 2018).
Total housing inventory at the end of June increased to 1.93 million, up from 1.91 million existing-homes available for sale in May, but unchanged from the level of one year ago.
Unsold inventory is at a 4.4-month supply at the current sales pace, up from the 4.3 month supply recorded in both May and in June 2018.
Cap#2 shows existing home sales, on a Seasonally Adjusted Annual Rate (SAAR) basis since 1993.
Sales in June (5.27 million SAAR) were down 1.7% from last month, and were 2.2% below the June 2018 sales rate.
Cap#3 shows nationwide inventory for existing homes.
According to the NAR, inventory increased to 1.93 million in June from 1.91 million in May. Headline inventory is not seasonally adjusted, and inventory usually decreases to the seasonal lows in December and January, and peaks in mid-to-late summer.
Cap#4 shows the year-over-year (YoY) change in reported existing home inventory and months-of-supply. Since inventory is not seasonally adjusted, it really helps to look at the YoY change.
Note: Months-of-supply is based on the seasonally adjusted sales and not seasonally adjusted inventory.
Inventory was unchanged year-over-year in June compared to June 2018. Months of supply increased to 4.4 months in June.
This was below the consensus forecast. For existing home sales, a key number is inventory - and inventory is still low.
https://www.calculatedriskblog.com/2019/07/nar-existing-home-sales-decreased-to.html
'''remember this is HIGHLY regional and what you see in your area may not be reflected in this report…and it's the NAR too, not exactly the most reliable place as the famous quote the all realtors say is
It's ALWAYS the bet time time to buy or sell a home
read up fucker
Nissan Slashing Over 10,000 Jobs Globally, 7% Of Its Entire Workforce
What some auto manufacturers and industry experts were passing off as a slight hiccup for the auto industry is rapidly turning into a full-scale recession if not all out depression, one complete with a litany of layoffs in the global auto industry as sales in major countries like the United States and China have been steadily deteriorating for the last 18 months.
We've already seen massive planned layoffs from US auto makers like Ford, and now Nissan is the latest to join the mass layoffs bandwagon, with Kyodo reporting that Nissan will cut over 10,000 jobs globally, or over 7% of its entire global workforce.
This is likely in response to the deteriorating automotive market in China: recall in early July we repored that Nissan's sales in China from January to June totaled 718,268 units, a 0.3% y/y decline.
In May, we reported that countries like China, the United Kingdom, Germany, Canada and the United States had all seen at least 38,000 job cuts over the last six months in the automotive sector. Daimler CEO Dieter Zetsche said in May that "sweeping cost reductions" are ahead to prepare for what he is calling "unprecedented" industry disruption.
A few weeks ago we algo reported that over 25% of all June job cuts came from the automotive sector, according to Managing Economist for Refinitiv Jeoff Hall. Hall commented on Twitter that the industry's 10,904 redundancies were the most in seven months and the second most in seven years. Hall also noted that excluding autos, there were only 31,073 job cuts in June, the fewest in 11 months, in low-normal range.
We reported about Ford's plans to cut another 7000 jobs, representing 10% of its workforce worldwide, about a month ago. And the recession, which was likely due to happen regardless of market conditions, comes at the worst possible time. It could be exacerbated by the ongoing trade war, which foreign carmakers have warned could put 700,000 American jobs at risk.
Furthermore, at the beginning of June we noted that Bank of America had said that "the auto cycle had peaked".
While Bank of America attributed much of the downturn in the manufacturing sector to the ongoing trade war, it singled out the automotive industry as a specific area for concern. Calling the problem a "classic story of demand/supply mismatch", the bank pointed out that producers continue to ramp up output at a time when demand has softened.
https://www.zerohedge.com/news/2019-07-23/nissan-slashing-over-10000-jobs-globally-7-its-entire-workforce
>was a detailee from the FBI to the Commodity Futures Trading Commission (CFTC).
that is where the rubber meets the road with regards to manipulation.
Suicided
it's not a bad report it's just not a good one as they still play the low-inventory game. It is highly regional and there is plenty of inventory in ca.
not so in other places. The whole way it's reported needs to be changed as they have plenty of resources to capture real-time data and do away with the revisions. Could write a program to do it in a day or two provided you had access to all the data. It's like the job's numbers..this seasonally adjusted crap or in the jobs numbers case, the rolling averages.
With modern computing power and a few good coders from here it would be easy to do.