Liveblog Archief dinsdag 22 juni 2021

TOP NEWS
• U.S. lawmakers likely to press Powell on Fed's 'hawkish' turn
Federal Reserve Chair Jerome Powell on Tuesday will testify in a congressional hearing likely to focus on how the U.S. central bank is balancing rising inflation risks with its promise to ensure the economy recovers all the jobs lost after the onset of the coronavirus pandemic.

• G20 to endorse deal on global minimum corporate tax -draft
The world's financial leaders will endorse on July 9-10 adeal setting a global minimum corporate tax and call for technical work to be finished so they can approve the framework for implementation in October, their draft communique showed.

• Google drops engineering residency after protests over 'inequities'
Alphabet’s Google plans to shut down a long-running program aimed at entry-level engineers from underrepresented backgrounds after participants said it enforced "systemic pay inequities," according to internal correspondence seen by Reuters.

• OPEC+ discusses further easing of oil cuts from August -sources
OPEC+ is discussing a further easing of oil output cuts from August as oil prices rise on demand recovery, but no decision had been taken yet on the exact volume to bring back to the market, two OPEC+ sources said.

• Boeing lobbyist Keating, who helped steer it through MAX crisis, exits abruptly
Boeing announced on Monday that veteran lobbyist and political strategist Tim Keating, who helped navigate the U.S. planemaker through its worst-ever crisis following fatal 737 MAX crashes, has left the company but gave no reason.


BEFORE THE BELL
Wall Street futures were muted as investors braced for Federal Reserve Chair Jerome Powell's remarks for clues on how the central bank is balancing inflation risk with its promise to ensure a full jobs market recovery. European shares fell, with growth-linked technology and healthcare stocks leading declines. Japan’s Nikkei ended higher, boosted by shipping stocks after Mitsui OSK Lines more than tripled its half-yearly net profit forecast. The dollarrose, while gold prices steadied. Oil prices dropped, as OPEC+ began discussions on raising oil production. Existing home sales data is due later in the day.


STOCKS TO WATCH

Deals Of The Day
• CITIC Capital Acquisition Corp & Quanergy Systems Inc: Quanergy, a supplier of self-driving car technology, is nearing a deal to go public through a merger with Chinese blank-check acquisition firm CITIC, people familiar with the matter said on Monday. Quanergy would be the latest company developing LiDAR technology - which uses laser beams to help generate a three-dimensional map of the road - to turn to a so-called special purpose acquisition company (SPAC) to go public. The SPAC deal would value Quanergy at $1.1 billion and could be announced as early as this week, the sources said.

Moves
• Boeing Co: The company announced on Monday that veteran lobbyist and political strategist Tim Keating, who helped navigate the U.S. planemaker through its worst-ever crisis following fatal 737 MAX crashes, has left the company but gave no reason. An internal memo from Chief Executive Dave Calhoun to government operations employees, and a separate statement to media, confirmed Keating's departure and the search for a permanent replacement, but offered no explanation or further details on what appeared to be an abrupt exit. Marc Allen, Boeing's chief strategy officer, would also take over Keating's role until a permanent replacement is found, Calhoun said. Loren Thompson, a defense consultant with close ties to Boeing, said Keating had played a critical role in Boeing's effort to manage a series of crises, including the 737 MAX saga, the loss of a major defense contract, and the sharp erosion of revenue caused by the global COVID-19 pandemic.

In Other News
• Alphabet Inc: Google's YouTube has scored a win in its latest copyright-infringement challenge after Europe's top court said online platforms are not liable for users uploading unauthorised works unless the platforms failed to take quick action to remove or block access to the content. "As currently stands, operators of online platforms do not, in principle, themselves make a communication to the public of copyright-protected content illegally posted online by users of those platforms," the EU Court of Justice said. Meanwhile, Google found itself in the EU antitrust spotlight again as regulators opened an investigation into its lucrative digital advertising business to examine whether it favours its own business over rivals, advertisers and online publishers. Seperately, Google plans to shut down a long-running program aimed at entry-level engineers from underrepresented backgrounds after participants said it enforced "systemic pay inequities," according to internal correspondence seen by Reuters.

• Carlyle Group Inc: Private equity firms Carlyle and Bain Capital, as well as auto suppliers Valeo and Mahle were among those that entered non-binding bids to buy a stake in South Korea's Hanon Systems worth 6.6 trillion won as of Tuesday, South Korean media reported. The bidders are looking into acquiring about a 70% stake of auto supplier Hanon Systems on sale by majority shareholder, local private equity firm Hahn & Company, as well as second-largest shareholder Hankook Tire & Technology, newspaper Korea Economic Daily reported on Tuesday citing unnamed investment banking sources.

• Delta Air Lines Inc: The airline aims to hire more than 1,000 pilots by next summer, according to a company memo reviewed by Reuters on Monday. Delta expects U.S. leisure travel volume this month to return to pre-pandemic levels and is seeing more business travelers return to the skies, Chief of Operations John Laughter wrote to operations employees. After heavy losses in 2020, Delta has said it expects to generate a pre-tax profit in the second half of 2021, with a re-opening of corporate America by Labor Day in early September. "The fact that we expect to record a profit in June - just 15 months after the sharpest decline in aviation history - is remarkable," Laughter said in his employee note.

• General Motors Co: The Biden administration said on Monday it was working closely with the United Autoworkers union in pressing Mexico to probe alleged labor rights violations at a General Motors plant in that country, and vowed to fight for a worker-focused trade policy. U.S. Trade Representative Katherine Tai told members of the UAW union during a visit to Flint, Michigan, that the Biden administration would work to implement trade policies that lifted wages and expanded opportunity for workers everywhere. "At USTR we want to encourage a race to the top with higher standards and real, rapid enforcement of our trade agreements," she said. "We don’t want to create incentives for companies to move jobs overseas to maximize profits." Tai told the autoworkers the U.S. government's decision to initiate a case against the GM facility reflected the Biden administration's determination to fully enforce labor standards negotiated under the U.S.-Mexico-Canada trade agreement.

• Moderna Inc: The European Union has decided to take up an option under a supply contract with drugmaker Moderna that allows the bloc to order 150 million additional COVID-19 vaccines produced by the U.S. biotech firm, the EU Commission said. The additional Moderna doses will be delivered next year, the EU executive said in a statement. The shots are part of a contract for 300 million doses, approved in February, of which half has already been ordered by the 27-nation bloc. The EU Commission said the contract with Moderna had also been amended to allow the purchase of vaccines adapted to virus variants as well as jabs for paediatric use and boosters.

• Sanderson Farms Inc: Chicken producer Sanderson Farms is exploring a sale, according to a source familiar with the matter, at a time demand for its products is on the rise as restaurants reopen for business. Sanderson Farms has drawn interest from buyers including agricultural investment firm Continental Grain, which owns a smaller chicken processor, Wayne Farms, the source said. The deal would form a company producing about 15% of the country's chicken meat. The second largest company, Pilgrim's Pride, produces about 16%, according to the Wall Street Journal, which first reported the news.

• Torchlight Energy Resources Inc: The company upsized its stock offering to $250 million from $100 million, looking to cash in on the retail interest in its shares which soared more than 74% on Monday. The stock rose to as much as $10.88 during the session, making it the latest company to benefit from a rally in meme stocks that helped GameStop and AMC raise money from the equity markets. The company had announced its initial plans to raise $100 million last week as part of its acquisition by industrial materials maker Metamaterial. It had also declared a special dividend of preferred stock to be issued as of market close on June 24.

• Uber Technologies Inc: Japanese police on Tuesday filed a notice of investigation against the local office of food delivery service Uber Eats for suspected breach of immigration law. Tokyo Metropolitan Police sent a notice to the company and two former managers about alleged unauthorised work by Vietnamese nationals that took place from June to August 2020, a police spokesperson said, confirming a report from the Kyodo News Agency. No arrests were made, and the case was referred to prosecutors. An Uber spokesperson told Reuters the company was "fully cooperating" with authorities. The company "has taken a number of steps to strengthen onboarding procedures for prospective couriers", the spokesperson said in a statement.

• UBS Group AG: The bank has hired two bankers from Morgan Stanley to help build its trading services for hedge funds and asset managers in the United Sates, according to a memo seen by Reuters and confirmed by a spokesperson for the Swiss bank. The new recruitments are a part of a broader initiative within the bank to elevate its so-called execution hub, allowing hedge funds and asset managers to outsource their trading to the lender. Jon Slavin, previously Global Head of Equity Trading at Morgan Stanley Investment Management, has been appointed UBS's Head of Execution Hub, Americas. Sherri Cohen, who previously headed global emerging markets at Morgan Stanley's investment management arm and led infrastructure development for the unit's trading systems, has been named to lead business development of the execution hub in the United States.


INSIGHT
Even after Biden tax hike, US firms would pay less than foreign rivals
U.S. companies pay less income tax than their overseas competitors and would likely continue to do so under a tax hike proposed by President Joe Biden, according to a Reuters analysis of filings by hundreds of U.S. and international firms.


ANALYSTS' RECOMMENDATION
• Arrowhead Pharmaceuticals Inc: Piper Sandler raises target price to $109 from $99 after the company partnered with Horizon Therapeutics to develop, a therapeutic targeting xanthine dehydrogensase for gout.

• Sage Therapeutics Inc: Mizuho cuts target price to $60 from $77, estimating lower sales for the company’s zuranolone.

• Sanderson Farms Inc: JPMorgan raises target price to $198 from $175, following reports that the company is up for sale.

• Tarsus Pharmaceuticals Inc: Jefferies raises target price to $45 from $35, after the company’s phase 2b/3 Saturn-1 trial met all primary and secondary endpoints.

• Twilio Inc: Needham initiates coverage with buy rating and target price of $430, seeing the company as a global leader in several fast-growing market segments that enable digital customer engagement.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1000 Existing home sales for May : Expected 5.72 mln; Prior 5.85 mln
1000 Existing home sales percentage change for May : Prior -2.7%
1000 (approx.) Rich Fed Composite Index for Jun : Prior 18
1000 (approx.) Rich Fed Services Index for Jun : Prior 29
1000 (approx.) Rich Fed Manufacturing Shipments for Jun : Prior 12


COMPANIES REPORTING RESULTS
No major S&P 500 companies are scheduled to report for the day.


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0830 Cognyte Software Ltd: Q1 earnings conference call
0830 Mastercard Inc: Annual Shareholders Meeting
0830 Plug Power Inc: Q1 earnings conference call
0900 Brookfield Renewable Corp: Annual Shareholders Meeting
1000 Pegasystems Inc: Annual Shareholders Meeting
1100 Dell Technologies Inc: Annual Shareholders Meeting
1100 Kronos Bio Inc: Annual Shareholders Meeting
1100 Revolution Medicines Inc: Annual Shareholders Meeting
1130 Kura Oncology Inc: Annual Shareholders Meeting
1200 ACADIA Pharmaceuticals Inc: Annual Shareholders Meeting
1200 Korn Ferry: Q4 earnings conference call
1230 Zuora Inc: Annual Shareholders Meeting
1830 Airbnb Inc: Annual Shareholders Meeting


EX-DIVIDENDS
CMC Materials Inc: Amount $0.46

Wat ik al aangaf gisteren kon de DIP wel weer eens worden opgekocht en dat gebeurde dan ook via Wall Street waar nu plots de Dow Jones stevig herstelde en bijna 600 punten hoger sluit. De AEX begon eerst nog wat lager maar won uiteindelijk ruim 4 punten en pakt de draad weer op, vandaag maar eens zien wat de markt brengt.

Hetzelfde zien we bij de DAX, de traditionele sectoren deden het beter dan de tech maar dat was eind vorige week natuurlijk andersom. De vraag is nu of het herstel kan doorzetten richting de rest van de week, het is moeilijk te beoordelen na 1 sterke sessie maar wat wel opvalt is dat zowel de Dow Jones en de Dow Transport wel heel krachtig uit de startblokken komen deze week wat dan mogelijkheden brengt voor de rest van de week. We gaan het snel genoeg merken, de sessie van vandaag kan wel eens belangrijk worden voor het vervolg.

Mogelijkheden deze week:
We gaan in ieder geval ook deze week weer zoeken naar mogelijkheden om op de handelen met wat indices, dat zal ik zeker niet met teveel risico doen, eerst maar eens zien wat de markt gaat doen nu een en ander zo snel hoger geraakt na de eerste sessie van de week. We moeten niets te snel doen, wel een mooi momentum afwachten.

Mis de volgende kans in ieder geval niet want ik verwacht weer iets moois deze week, als u de signalen wilt ontvangen wordt dan vandaag nog lid via de nieuwe aanbieding die loopt tot 1 september ...

Vrijdag wat leuke posities kunnen afronden:
De posities die vrijdag werden gesloten leverden een mooie winst op, zoals we zien was die beslissing de juiste want dat pakte goed uit gezien het herstel van maandag. Dicht tegen het slot heb ik winst genomen op de posities, de winst was mooi en voldoende want enkele indices kwamen al dicht bij mijn doel. Zo staan we deze maand in ieder geval op een mooie winst en het is al de 8ste maand op rij dat het goed loopt. Weinig transacties, een mooi momentum kiezen en waar er winst staat neem ik die.

Maak nu gebruik van de nieuwe aanbieding tot 1 SEPTEMBER voor €39 (Polleke Trading €49) https://www.usmarkets.nl/tradershop

Hieronder het resultaat van deze maand (JUNI) en dit jaar (2021):

Technische ontwikkeling markt:
Een opvallend herstel en het lijkt dus weer verdacht veel op de bekende Buy The Dip vanuit het niets, veel indices kwamen onder hun steun terecht en begonnen zelfs lager maandag maar dus toch op een moment waar je amper iets kan en mag doen (technisch bekeken) komt dan die grote draai. Nu moeten we dat momentum afwachten maar nogmaals, we hebben tijd en ik wil vooral niet te snel wat doen.

Overzicht markt:

Technische conditie AEX:
De AEX begon de week wat lager en tikt zelfs het 50-daags gemiddelde aan, rond de laagste stand van de sessie 713-714 punten waar dat 50-MA uitkomt kwam het herstel dus snel op gang. De index sluit bijna 10 punten boven die dagbodem. Steun nu eerst weer die 718-719 punten, later de 713-714 en de 708 punten.

Weerstand nu eerst de 728 met later de topzone 730 en de 735-736 punten waar we de hoogste stand ooit zien uitkomen. Eerst maar eens kijken wat de index de komende 2 sessies gaat doen.

Technische conditie DAX:
De DAX herpakt zich na de daling van vrijdag ook stevig, een plus van 155 punten en weer boven de oude toppen die we tussen de 15.500 en de 15.550 punten zien. Weerstand nu de 15.650 en de 15.750 punten. Steun nu de 15.550, de 15.400 en de 15.300 punten. De DAX liet een snelle daling zien maar herpakt zich dus ook sterk.

S&P 500 analyse:
De S&P 500 moest even behoorlijk wat lager maar ook hier een herstel tot boven de belangrijke steun, de index staat weer binnen de bekende uptrend, we zien dus een valst doorbraak omlaag maar ik kan nog niet zeggen dat we de daling hebben afgerond. De markt reageerde met een stevig technisch herstel, het is nu wachten op het vervolg.

Weerstand nu de 4250, de 4275 en de 4300 punten, steun blijft de zone 4180-4185 punten. Onder deze steun moeten we opletten want dan kan het snel naar de 4150, de 4125 en de 4100 punten.

Analyse Nasdaq:
De Nasdaq bleef in ieder geval dicht bij de topzone en na de terugval van vrijdag zien we weer herstel en meer dan 100 punten. De top rond de 4211 punten komt weer in beeld nu met nog 70 punten te gaan. Weerstand dus die 4211 met later de 4250 en de 4400 punten. Steun nu de bodems die we rond de 14.000 punten zien uitkomen, later de 13.900 en de 13.800 waar we het 50-MA zien uitkomen. Ook hier worden de komende sessies weer belangrijk ...

Euro, olie en goud:
De euro zien we nu rond de 1.19 dollar, de prijs van een vat Brent olie komt uit op 75 dollar terwijl een troy ounce goud nu op 1783 dollar staat.

De LIVEBLOG en Twitter:
Via de LIVEBLOG en tussendoor ook via mijn Twitter account laat ik gedurende de dag ook wat grafiekjes met korte uitleg voorbij komen over de markt. Op Twitter kunt u mij volgen via @USMarkets dan kunt u deze snelle informatie die ik deel uiteraard ook inzien .... https://twitter.com/USMarkets , ook opvallende beursfeiten komen er vaak langs !

Met vriendelijke groet,
Guy Boscart