Liveblog Archief dinsdag 13 oktober 2020

TOP NEWS
• J&J pauses coronavirus vaccine trials due to unexplained illness
Johnson & Johnson has paused clinical trials of its coronavirus vaccine candidate due to an unexplained illness in a study participant, delaying one of the highest profile efforts to contain the global pandemic.
• Apple event expected to bring 5G speed, smaller iPhone 12
Apple is expected to announce an iPhone 12 capable of tapping into faster 5G networks, a new feature designed to spur sales during the company's busiest sales quarter.
• BlackRock quarterly profit sails past estimates as markets rally
BlackRock, the world's largest asset manager, trounced analysts' profit estimates for a fifth straight quarter as the recovery rally in global financial markets boosted asset values and pulled in more investor funds.
• EU to win right to tariffs on $4 billion in U.S. goods in WTO Boeing case
The European Union is set to win the right to impose tariffs on about $4 billion in U.S. goods in retaliation for subsidies granted to planemaker Boeing under a World Trade Organization (WTO) ruling.
• Chinese regulatory probe delays approval for Ant's IPO, sources say
China's securities regulator is probing a potential conflict of interest in fintech giant Ant Group's planned $35 billion stock listing, delaying approval for what could be the world's largest IPO, three people with direct knowledge of the matter said.


BEFORE THE BELL
Futures tracking the Dow and the S&P 500 fell as investors looked to the big U.S. banks to kick off the quarterly earnings season, with focus also on comments from Johnson & Johnson after the company paused its COVID-19 vaccine trials. Most of the European shares retreated from five-week highs amid uncertainty around the vaccine. Asian equities ended mostly higher on the back of Chinese trade data that pointed to a buoyant economic recovery. Gold steadied, although gains were capped by a firmer dollar. Oil prices rebounded. The U.S. consumer prices data is on the economic calendar.


STOCKS TO WATCH
Results
• BlackRock Inc (BLK). The world's largest asset manager trounced analysts' profit estimates for a fifth straight quarter as the recovery rally in global financial markets boosted asset values and pulled in more investor funds. The company ended the third quarter with $7.81 trillion in assets under management, up from the $7.32 trillion in the second quarter and $6.96 trillion a year earlier. The company's net income rose 27% to $1.42 billion, or $9.22 per share, in the third quarter, from $1.12 billion, or $7.15 per share, a year earlier. BlackRock's performance fees jumped more than four-fold from a year earlier.
• Johnson & Johnson (JNJ). The company hiked its full-year profit forecast for the second time in 2020, as strong demand for its cancer and Crohn's disease treatments largely offset the impact to its businesses from the COVID-19 pandemic. In the third quarter, sales rose to $21.08 billion from $20.73 billion, helped by rise in sales of its cancer drugs Darzalex and Imbruvica, as well as Crohn's disease drug Stelara. The company expects full-year 2020 adjusted profit of $7.95 to $8.05 per share, from its prior range of $7.75 to $7.95 per share. Profit more than doubled to $3.55 billion in the third quarter, from a year earlier when the company had recorded "other expenses" of $4.21 billion.

In Other News
• Aliababa Group Holding Ltd (BABA). China's securities regulator is probing a potential conflict of interest in fintech giant Ant Group's planned $35 billion stock listing, delaying approval for what could be the world's largest IPO, three people with direct knowledge of the matter said. The China Securities Regulatory Commission (CSRC) is looking into the role of Alipay, Ant's flagship payment platform, as the only third-party channel through which retail investors could buy into five Chinese mutual funds investing in the IPO, the people told Reuters, speaking on condition of anonymity. Ant, a domestically incorporated affiliate of Chinese e-commerce behemoth Alibaba, is seeking a dual-listing in Shanghai and Hong Kong as soon as this month, and needs CSRC approval for both listings.
• Apple Inc (AAPL). The company is expected to announce an iPhone 12 capable of tapping into faster 5G networks, a new feature designed to spur sales during the company's busiest sales quarter. The event is nearly one month later than normal and comes as the coronavirus pandemic has disrupted Apple's well-oiled machine for designing and churning out its biggest-selling product. Wall Street analysts widely expect Apple to launch four new iPhones at the event broadcast from its Cupertino, California headquarters at 1 p.m. ET (1700 GMT).
• Amazon.com Inc (AMZN). The company began 48 hours of promotions as part of "Prime Day," a closely watched marketing event the company had postponed due to operational challenges from the coronavirus pandemic. The event, typically held in July to boost summer sales, is now a kickoff to what will be an earlier holiday shopping season. The member-only discounts are a key way Amazon markets Prime, a fast-shipping and media-streaming service that incentivizes subscribers to do more shopping on Amazon. Separately, a German trade union called on workers at seven Amazon warehouses to go on strike to coincide with the global "Prime Day" promotion event that was postponed due to operational challenges from the coronavirus pandemic.
• Apollo Global Management Inc (APO). Chief Executive Leon Black told the buyout firm's investors on Monday that he regretted having had ties to the late financier and convicted sex offender Jeffrey Epstein, but denied any wrongdoing or inappropriate conduct related to his business and social relationship with Epstein. Black wrote to the firm's investors after the New York Times reported on Monday that he wired between $50 million and $75 million to Epstein as far back as 2008. Reuters could not determine how long Black continued to wire money. While Black's business ties to Epstein were already known, the Times story outlined previously unreported payments, as well as socializing between the two financiers.
• BHP Group Ltd (BHP). The global miner said it reached an agreement with a coalition of Aboriginal land councils over principles for heritage management, a day ahead of a shareholder vote on a related issue at its annual meeting. BHP and the First Nations Heritage Protection Alliance would identify areas where they could work together to improve standards and practices on cultural heritage, they said in separate statements. The alliance is made up of Australia's major Aboriginal Land Councils and Native Title groups. Separately, BHP will begin production of nickel sulphate by the middle of next year as it focuses on improving the green credentials of operations that will supply battery materials to the automotive industry, an executive said.
• Boeing Co (BA). The European Union is set to win the right to impose tariffs on about $4 billion in U.S. goods in retaliation for subsidies granted to planemaker Boeing under a World Trade Organization (WTO) ruling due on Tuesday. The decision threatens to stoke transatlantic trade tensions with just three weeks until the U.S. presidential election on Nov. 3, although it could also help at last to settle a 16-year legal battle. Both the United States and the EU have signalled interest in settling the dispute over subsidies each provided to their respective planemakers, Boeing and Airbus, while accusing the other of refusing to talk seriously.
• Deutsche Bank AG (DB). U.S. investor Capital Group has bought more shares in Germany's largest lender Deutsche Bank taking its overall holdings to more than 7%, a regulatory filing showed. "We are happy that Capital Group has increased their overall shareholding in Deutsche Bank. We see this as a clear vote of confidence in our strategic transformation and its implementation," the bank said in a statement.
• Facebook Inc (FB). Central banks set out to regulate cross-border stablecoins like Facebook's planned Libra with a common approach, saying more rules may later be needed to ensure stability. The prospect of a currency-backed stablecoin being used by billions of people on Facebook has galvanised central banks into putting together rules and into considering how they could launch their own digital currency. Existing national rules do not fully cover stablecoins the Financial Stability Board (FSB) said in a statement, adding that regulators should ensure that global stablecoins are fully accountable, keep data safely, have effective safeguards against cyber attacks and money laundering.
• HSBC Holdings Plc (HSBC). Dubai's Majid Al Futtaim (MAF), which develops shopping malls across the Middle East, is putting its district cooling unit up for sale, four sources with knowledge of the matter told Reuters. District cooling firms deliver chilled water via insulated pipes to cool offices, industrial and residential buildings. MAF has hired HSBC to tender the deal, said the sources, declining to be named as the matter is not public.
• Johnson & Johnson (JNJ). The company has paused clinical trials of its coronavirus vaccine candidate due to an unexplained illness in a study participant, delaying one of the highest profile efforts to contain the global pandemic. J&J said on Monday the illness was being reviewed by an independent data and safety monitoring board as well as the U.S. group's clinical and safety physicians. The company said such pauses are normal in big trials, which can include tens of thousands of people. It added the voluntary "study pause" in giving doses of the vaccine candidate was different from a "regulatory hold" imposed by health authorities.
• Takeda Pharmaceutical Co Ltd (TAK). The Takeda Pharmaceutical-led group that is developing a blood plasma treatment for COVID-19 has started manufacturing while the late-stage trial to determine whether it works is ongoing, Takeda Chief Executive Christophe Weber said on Monday. The group, known as the CoVIg Plasma Alliance, enrolled its first patient in the Phase III trial on Friday after months of delays. It aims to enroll 500 adult patients from the United States, Mexico and 16 other countries and hope to have results by the end of the year.
• Tesla Inc (TSLA). The company said it has cut the price of its Model S "Long Range" sedan by 4% in the United States, days after the electric-car maker reported record quarterly deliveries. The company, which is expected to report third-quarter results on Oct. 21, cut the price to $71,990 from $74,990 in the United States. It also trimmed the starting price of Model S by 3% in China.
• Walt Disney Co (DIS). The company said on Monday it had restructured its media and entertainment businesses to accelerate growth of Disney+ and other streaming services as consumers increasingly gravitate to digital viewing. Under the reorganization, Disney will separate the development and production of programming from distribution to be more responsive to consumer demands. The move came days after activist investor Daniel Loeb of hedge fund Third Point urged Disney to forgo a dividend payment and double its programming investment in streaming.


GRAPHIC
'Blue wave' U.S. election expectations trigger green stocks frenzy
Growing expectations of a strong Democratic victory in U.S. elections have prompted investors to snap up renewable energy stocks, amplifying a recent rush seen after the European Union's fiscal splurge earmarked for green investments.


ANALYSTS' RECOMMENDATION
• Microsoft Corp (MSFT). RBC raises target price to $250 from $230, as the company closed various slipped deals for Azure while offering it to more industry segments like life sciences, energy and telco.
• Zendesk Inc (ZEN). RBC raises target price to $130 from $110, citing improved enterprise deal activity, no pressures to discount to win deals and a reduction in down-selling issues.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Core CPI mm, SA for Sep: Expected 0.2%; Prior 0.4%
0830 Core CPI yy, NSA for Sep: Expected 1.8%; Prior 1.7%
0830 CPI Index, NSA for Sep: Expected 260.348; Prior 259.918
0830 (approx.) Core CPI Index, SA for Sep: Prior 268.75
0830 CPI mm, SA for Sep: Expected 0.2%; Prior 0.4%
0830 CPI yy, NSA for Sep: Expected 1.4%; Prior 1.3%
0830 Real weekly earnings mm for Sep: Prior 0.3%
0830 (approx.) CPI mm NSA for Sep: Prior 0.320%
0830 (approx.) CPI Index SA for Sep: Prior 259.680
1100 (approx.) Cleveland fed CPI for Sep: Prior 0.3%


COMPANIES REPORTING RESULTS
Citigroup Inc (C). Expected Q3 earnings of 93 cents per share
Delta Air Lines Inc (DAL). Expected Q3 loss of $3.00 per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0830 Johnson & Johnson (JNJ). Q3 earnings conference call
0830 BlackRock Inc (BLK). Q3 earnings conference call
0830 JPMorgan Chase & Co (JPM). Q3 earnings conference call
1000 Delta Air Lines Inc (DAL). Q3 earnings conference call
1000 Fastenal Co (FAST). Q3 earnings conference call
1000 Citigroup Inc (C). Q3 earnings conference call
1000 First Republic Bank (FRC). Q3 earnings conference call
1200 Procter & Gamble Co (PG). Annual Shareholders Meeting


EX-DIVIDENDS
There are no major exdivs for the day.

Goedemorgen
De techfondsen Alphabet, Apple, Microsoft en Amazon waren tijdens de eerste sessie van de nieuwe week de uitblinkers. Apple schoot met maar liefst 6.5% omhoog op het event dat eraan zit te komen en waar er een nieuwe iPhone zal worden gepresenteerd met de 5G technologie. Verder richten beleggers zich op een wisseling aan de macht in de VS waar Biden nog een paar punten opklom ten opzichte van Trump, ook in de swing staten loopt hij steeds verder weg. Vanaf vandaag komen er ook de cijfers van onder andere de banken JP Morgan, Wells Fargo en Citigroup.

Gisteren een dag zonder dat de profs mee deden door dat er door Columbus Day een vrije dag was en de obligatiemarkt dicht bleef, de banken bleven ook dicht maandag. Een markt met vrijwel alleen handel door kleinere beleggers en dat zag je meteen ook aan het verloop van de populaire Robin Hood aandelen die dat ook deden net voor de top bij de Nasdaq werd bereikt. Ik hoef na de stijging van gisteren ook niet uit te leggen dat de waarderingen wederom op exploderen staan, de gemiddelde KW liep dan ook op tot richting 30 gemiddeld binnen de SP 500. In een normale markt is 18-19 al duur, over de afgelopen 10-15 jaar kwam de gemiddelde KW uit rond de 12-15. Dus of de markt duur is dat kunt u zelf wel bepalen maar het BUBBELT weer behoorlijk zo te zien. En men gaat uit dat de gemiddelde EPS verder zakt op Wall Street ofwel bij de SP 500 ...

Het viel gisteren ook op dat Microsoft en Apple nodig waren om de Dow Jones hoger te krijgen, andere sectoren deden niet mee met het geweld omhoog merken we. De Dow Transport won amper maandag. Het was puur een tech dagje en volgens mij zoal ik al aangaf vooral door de optiehandel door kleine beleggers.

De oliesector deed het dan weer niet goed maandag want Exxon moest wat inleveren terwijl binnen de AEX Shell nog steeds ver achterblijft wat betreft het koersverloop. De AEX deed het vooral door ASML goed gisteren, het aandeel won 2,5%. De banken deden het ook niet goed door de rente die zakt. Let er wel op dat de AEX wat te hoog staat en dat slechts komt door een paar zwaargewichten binnen de index.

Er is nog altijd geen akkoord over een corona steunpakket in de VS, blijkbaar willen de Democraten het over de verkiezingen tillen omdat ze dan overal de macht grijpen. Zowel als President, in het Congress en de Senaat. Beleggers anticiperen alvast op een grote ’blauwe golf’ waar men wacht op enorme steun pakketen en het terugdraaien van Trumps belastingverlaging. Wordt hoe dan ook interessant allemaal. Dat Trump het niet zal redden wordt met de dag duidelijker al mag je hem nooit afschrijven natuurlijk, remember 4 jaar geleden ....

US Markets Trading nu voor €29 tot 1 DECEMBER:
We zitten in de markt met wat posities, die kunt u nog aankopen vandaag door lid te worden. De markt blijft wel nog even te moeilijk om met grotere posities te werken dus blijven we met kleine aantallen werken tot na de verkiezingen in de VS. De volatiliteit is wel stevig genoeg om ook met kleine posities te werken hetgeen we aan beide kanten merken. Op zich kunnen we ermee overweg maar wel blijf ik zeer alert in deze markt en moeten we waar het kan geduld blijven houden.

Meedoen kan nu via de speciale aanbieding tot 1 DECEMBER voor €29, na uw inschrijving staat u meteen op de verzendlijst en ontvangt u de updates, de signalen en kunt u inloggen op onze Tradershop om alle posities LIVE te volgen.

Schrijf u in via https://www.usmarkets.nl/tradershop

Tot snel,

Guy Boscart

GLOBAL TOP NEWS
British consumers ramped up their spending sharply last month as some households stockpiled and began their Christmas shopping early ahead of possible new coronavirus restrictions, according to surveys published.

Johnson & Johnson said on it had temporarily paused its COVID-19 vaccine candidate clinical trials due to an unexplained illness in a study participant, delaying one of the highest profile efforts to contain the global pandemic.
China's imports grew at their fastest pace this year in September, while exports extended strong gains as more trading partners lifted coronavirus restrictions in a further boost to the world's second-biggest economy.

EUROPEAN COMPANY NEWS
Major French unions signed a keenly awaited labour deal with Europe's Airbus covering job reductions and furloughs for production workers affected by coronavirus-blighted demand for passenger jets.

Shareholders in Unilever Plc have approved the company's plan to end its 90-year-old dual-headed structure in favour of a single London-based entity, the Anglo-Dutch consumer goods company said.

Shares in Polish e-commerce group Allegro leapt more than 60% on their debut, giving the company a market value of almost $19 billion in Europe's biggest initial public offering (IPO) so far this year.


TODAY'S COMPANY ANNOUNCEMENTS
APQ Global Ltd Annual Shareholders Meeting
Capsensixx AG Annual Shareholders Meeting
GECI International SA Annual Shareholders Meeting
Gerresheimer AG Q3 2020 Earnings Release
Navigator Holdings Ltd Annual Shareholders Meeting
Piovan SpA Annual Shareholders Meeting


ECONOMIC EVENTS (All times GMT)
0600 (approx.) Germany CPI final mm for Sep: Expected -0.2%; Prior -0.2%
0600 (approx.) Germany CPI final yy for Sep: Expected -0.2%; Prior -0.2%
0600 (approx.) Germany HICP final mm for Sep: Expected -0.4%; Prior -0.4%
0600 (approx.) Germany HICP final yy for Sep: Expected -0.4%; Prior -0.4%
0600 (approx.) Germany CPI final NSA for Sep: Prior 106.0
0600 (approx.) United Kingdom Claimant count unemployment change for Sep: Expected 78,800; Prior 73,700
0600 (approx.) United Kingdom ILO unemployment rate for Aug: Expected 4.3%; Prior 4.1%
0600 (approx.) United Kingdom employment change for Aug: Expected -30,000; Prior -12,000
0600 (approx.) United Kingdom average weekly earnings 3-month yy for Aug: Expected -0.6%; Prior -1.0%
0600 (approx.) United Kingdom average earnings (ex-bonus) for Aug: Expected 0.6%; Prior 0.2%
0730 (approx.) Sweden CPI mm for Sep: Expected 0.3%; Prior -0.1%
0730 (approx.) Sweden CPI yy for Sep: Expected 0.6%; Prior 0.8%
0730 (approx.) Sweden CPIF mm for Sep: Expected 0.3%; Prior -0.1%
0730 (approx.) Sweden CPIF yy for Sep: Expected 0.6%; Prior 0.7%
0730 (approx.) Sweden CPI NSA for Sep: Prior 337.07
0730 (approx.) Sweden CPIF ex-energy mm for Sep: Expected 0.3%; Prior -0.5%
0730 (approx.) Sweden CPIF ex-energy yy for Sep: Expected 1.2%; Prior 1.4%
0900 Germany ZEW economic sentiment for Oct: Expected 73.0; Prior 77.4
0900 Germany ZEW current conditions for Oct: Expected -60.0; Prior -66.2
0900 (approx.) Euro Zone ZEW survey expectations for Oct: Prior 73.9
1000 (approx.) Portugal CPI mm for Sep: Prior 1.0%
1000 (approx.) Portugal CPI yy for Sep: Prior -0.1%
1000 (approx.) Portugal CPI NSA for Sep: Prior 103.2​