tyb and good morning to you as well
on another note your bread number is a repeat
Stocks Rise(futures)* As Oil weakens
(*edit as Twatter earnings erased the slight drop)
In another quiet overnight session following Monday's lowest trading volume in nearly a year, stocks have been rangebound, with US equity futures trading in a narrow range (although solid beats by UTX and Coke will likely push stocks higher into the open), while the oil rampage continued, as Brent jumped to near six-month highs on Tuesday*(see chart as it has cooled a bit) after the US tightened sanctions on Iran, sending shares of energy companies higher but failing to help the currencies of the main crude-oil producers.
Confirmation that the US had told buyers of Iranian oil to stop purchases by May 1 or face sanctions pushed Brent toward $75 a barrel, nearly $10 higher in the past month, and up 50% since December, and as Reuters put it, "made for a lively return from the four-day Easter break for Europe’s markets."
(see Cap #3)
While oil and gas shares jumped nearly 2% for their best start in six weeks, almost every other sector suffered. So did bonds, as higher energy costs hung over profits and nudged up inflation expectations.
Overnight, MSCI’s index of Asia-Pacific shares ended 0.1% higher and Japan’s Nikkei closed up 0.2% as oil and gas gains were offset by losses for airlines and other transport shares facing higher fuel costs. China's Shanghai Composite slumped in the last hour of trading, closing near session lows amid growing concerns that the PBOC will end its aggressive easing after China reported some impressive economic numbers. Asian volumes were below average ahead of Japan’s Golden Week extended holiday which will see Japanese markets closed for nearly 2 weeks.
China’s blue-chip stocks have surged over 30% so far this year on expectations of more stimulus and hopes Beijing and Washington will reach an agreement to end their nine-month trade dispute.
“We’ve had a fantastic run in Chinese equities year-to-date. Some profit taking is completely normal. I don’t think China is changing its policy that quickly,” said Stefan Hofer, chief investment strategist at LGT Bank Asia in Hong Kong.
(never-mind that each time the Chinese mkts are at a precipice the PBOC prints up a few trillion yuan and throws it in the pool-that make's it's way to the other mkts of the world as well)
Market Snapshot
S&P 500 futures little changed at 2,911.00
STOXX Europe 600 down 0.2% to 389.76
MXAP up 0.2% to 163.06
MXAPJ up 0.1% to 542.39
Nikkei up 0.2% to 22,259.74
Topix up 0.3% to 1,622.97
Hang Seng Index unchanged at 29,963.24
Shanghai Composite down 0.5% to
3,198.59
Sensex up 0.3% to 38,773.63
Australia S&P/ASX 200 up 1% to 6,319.42
Kospi up 0.2% to 2,220.51
German 10Y yield rose 2.3 bps to 0.048%
Euro down 0.05% to $1.1251
Italian 10Y yield fell 1.0 bps to 2.231%
Spanish 10Y yield rose 2.2 bps to 1.093%
Brent futures up 0.5% to $74.42/bbl
Gold spot down 0.1% to $1,273.76
U.S. Dollar Index little changed at 97.32
Looking at the day ahead, we get housing data in the form of the FHFA house price index reading for February and March new home sales. We’ve also got the April Richmond Fed manufacturing index print due out. Away from that we’re due to hear comments from Larry Kudlow in Washington while the earnings highlights are Proctor & Gamble, Verizon, Coca-Cola, eBay and United Technologies.
US Event (data) Calendar
9am: FHFA House Price Index MoM, est.
0.5%, prior 0.6%
10am: Richmond Fed Manufact. Index, est.
10, prior 10
10am: New Home Sales, est. 649,000, prior
667,000; MoM, est. -2.7%, prior 4.9%
Elsewhere, President Trump announced via twitter that he will not proceed with nominating Herman Cain to the Federal Reserve Board.That came as media outlets reported fresh scrutiny of his other pick, Stephen Moore. His nomination is still reportedly on track though not officially submitted.
Finally, in terms of the day ahead, the only data release due out in Europe is the April consumer confidence reading for the Euro Area this afternoon. In the US we’ve got more housing data in the form of the FHFA house price index reading for February and March new home sales. We’ve also got the April Richmond Fed manufacturing index print due out. Away from that we’re due to hear comments from Larry Kudlow in Washington (I can hardly wait to hear what Mr. Howell has to say) while the earnings highlights are Proctor & Gamble, Verizon, Coca-Cola, eBay and United Technologies.
https://www.zerohedge.com/news/2019-04-23/stocks-sputter-oil-surge-continues
https://www.bloomberg.com/markets/stocks/futures
https://www.dailyfx.com/crude-oil
Twitter Soars After Revenue Beat Despite Losing 6 Million Users In Last Year
After several quarters of declining usage, Twitter surprised Wall Street with a solid quarter - mostly in non-GAAP terms - reporting revenue and EPS that beat expectations as well as user numbers that surprised to the upside.
Q1 revenue came in at $787 million, above the $775 million estimate, resulting in non-GAAP EPS of 37 cents (9 cents GAAP), also above the 15 cent consensus estimate. Q1 adjusted EBITDA came in at $290.6 million, $46MM higher than a year ago, and beating not only the consensus average of $245.7 million but the highest Wall Street forecast of $286 million.
User numbers are surprised to the upside: while Monthly Active Users declined by 6 million to 330 million (as both International and US users dipped from a year prior), the number was a sequential improvement.
The one number that Twitter says is more important, the "monetizable" DAUs print (think of it as non-GAAP users), posted a solid 14MM increase year over year. It was not clear just what adjustments go into "normalizing" this trend-line, but it is safe to say that it is "a lot."
Commenting on the user data, Twitter said that "we have deployed new machine-learning models to detect potential policy violations and we are sending those flagged Tweets to agents for review, proactively. This has resulted in Twitter taking down significantly more abusive content, much faster than before. Of the Tweets we take down for abusive content every week, approximately 38% of them are now proactively detected."
Twitter also said that it is "taking a more proactive approach to reducing abuse on Twitter and its effects in 2019, with the goal of reducing the burden on victims of abuse and, where possible, taking action before abuse is reported…. As a result, improvements in Q1 emphasized proactive detection of rule violations and physical, or off-platform, safety — including making it easier to report Tweets that share personal information, helping us remove 2.5 times more of this content."
Much more important to investors was the report on total ad engagements, which TWTR said increased 23%, "resulting from higher ad impressions and improved clickthrough rates (CTR) across most ad formats."
Looking ahead, the company delivered a mixed message, saying it now expects Q2 revenue forecast midpoint below analysts’ estimates as its monthly user-engagement metric topped consensus view: specifically, twitter sees 2Q revenue $770 million to $830 million vs the analyst estimate $819.2 million (range $784 million to $854 million). The company also sees 2Q operating income $35 million to $70 million. This would represent a drop from last year's Q2 operating revenue of $80 million.
Twitter also expects stock-based compensation expense to be in the range of $350 million to $400 million, and capex to be between $550 million and $600 million.
While markets may have been a little concerned about the company's weaker than expected guidance, the reversal in the declining MAU trendline was enough to send TWTR stock surging about 9% higher premarket. That, however, may have displeased president Trump who immediately after the company reported earnings took to bashing Twitter, complaining that the company doesn't "treat me well as a Republican. Very discriminatory, hard for people to sign on. Constantly taking people off list. Big complaints from many people. Different names [ZH: such as Barack Obama]-over 100 Million…..But should be much higher than that if Twitter wasn’t playing their political games. No wonder Congress wants to get involved - and they should. Must be more, and fairer, companies to get out the WORD!"
…..But should be much higher than that if Twitter wasn’t playing their political games. No wonder Congress wants to get involved - and they should. Must be more, and fairer, companies to get out the WORD!
— Donald J. Trump (@realDonaldTrump) April 23, 2019
So far traders are ignoring Trump's latest morning rant… which incidentally took place on - where else - Twitter.
https://www.zerohedge.com/news/2019-04-23/twitter-soars-after-revenue-beat-despite-losing-6-million-users-last-year
Twitter, Inc. (TWTR)
Pre-Market
36.87 +2.49 (7.24)
Pre-Market: 8:42AM EDT
https://finance.yahoo.com/quote/TWTR?p=TWTR&.tsrc=fin-srch
(Addition)
Twatter playing games with the number's and trying to convince everyone that all the user's outside of it's normal growth area's i.e. not covered by actual metrics that can be verified, is what is driving it's "growth".
Keep in mind that pre-market trading is very thin and you must match size and price so an order for 100 shrare's must be filled by an exact order of 100 share's on offer at a specified price. There are no partial fill's until the bell for normal market trading
hardly call that stealthy. Moar like desperation
Another canary? More homes sell at below asking price, report shows
Miami, Chicago and NY all had high percentages of single-family homes sold at reduced prices
One more indicator of a housing market slowdown: More homes are being sold at prices below asking.
That’s according to a new first-quarter report by housing investment startup Knock, Bloomberg reported. The results could also be an indicator of the cities most at risk from the market cool down.
Miami led Knock’s top 10 list, with about 88 percent of single-family homes purchased after the seller lowered the price. Chicago ranked second, with 82 percent of homes sold at a discount from the initial asking. New York City ranked eighth, with more than 77 percent of homes sold at a price reduction. Los Angeles was not on the list.
In Florida, Tampa, Orlando and Jacksonville also ranked in the top 10 with lower-than-asking prices. The drop in Florida prices could also be due to the high number of second homes in those markets. Buyers are more wary of paying higher prices for second homes, and those prices are generally the first to fall during a downturn, according to Bloomberg.
https://therealdeal.com/miami/2019/04/04/another-canary-more-homes-sell-at-below-asking-price-report-shows/
US expands probe into air bag failures to 12.3M vehicles
U.S. auto safety regulators have expanded an investigation into malfunctioning air bag controls to include 12.3 million vehicles because the bags may not inflate in a crash. The problem could be responsible for as many as eight deaths.
Vehicles made by Toyota, Honda, Kia, Hyundai, Mitsubishi and Fiat Chrysler from the 2010 through 2019 model years are included in the probe, which was revealed Tuesday in documents posted by the National Highway Traffic Safety Administration. It involves air bag control units made by ZF-TRW that were installed in the vehicles.
The control units can fail in a crash, possibly because of unwanted electrical signals produced by the crash itself that can disable an air bag control circuit housed in the passenger compartment, according to NHTSA documents. The electrical signals can damage the control circuit, the documents say.
ZF, a German auto parts maker which acquired TRW Automotive in 2015, said in a statement that it's committed to safety and is cooperating with NHTSA and automakers in the investigation.
On April 19, NHTSA upgraded the probe from a preliminary evaluation to an engineering analysis, which is a step closer toward seeking recalls. So far, only Hyundai and Kia and Fiat Chrysler have issued recalls in the case. Four deaths that may have been caused by the problem were reported in Hyundai-Kia vehicles and three in Fiat Chrysler automobiles. NHTSA opened an investigation in March of 2017 involving the TRW parts in Hyundais and Kias.
The upgrade came after investigators found two recent serious crashes involving 2018 and 2019 Toyota Corollas in which the air bags did not inflate. One person was killed.
In the documents, NHTSA said that it didn't find any other cases of electrical interference in Hyundai, Kia or Fiat Chrysler vehicles that used the ZF-TRW system but were not recalled. Also, the agency has not identified any other cases of electrical interference in other Toyotas including Corollas, since the company started using the ZF-TRW parts in the 2011 model year. In addition, no electrical interference cases have been identified in Honda or Mitsubishi vehicles with the same parts, the agency said.
Investigators will evaluate how susceptible the air bag control units are to electrical signals as well as other factors that could stop air bags from inflating.
https://www.foxbusiness.com/markets/us-expands-probe-into-air-bag-failures-to-12-3m-vehicles
I'm not worried about it. I still have stuff I saved incorrectly last summer. That it get's out and seen is all that matter's. Only really an issue if a notable has one imo.
https://www.secform4.com/insider-trading/16918.htm
had a flip-phone up until 2016. No soc media or any of that crap so no need for it but it died so I have a "smart phone". Still makes calls the same way the other one did. Tech savvy enough to not participate in all the "look at me"crap but do not begrudge people who do as it does have it's uses-just not for me.
went on trip back in nov/dec and left mine at home. spouse had her's and was good enough.
Hate 'em
kek
bet you don't do that again. By the time that information is out (with most of those "sure fire" pick's) the move's have already been made. system just line's retail up and slaughters them