Liveblog Archief maandag 28 juni 2021

TOP NEWS
• Booster may be needed for J&J shot as Delta variant spreads, some experts already taking them
Infectious disease experts are weighing the need for booster shots of the Pfizer/BioNTech, or Moderna mRNA-based vaccines for Americans who received Johnson & Johnson's one-dose vaccine due to the increasing prevalence of the more contagious Delta coronavirus variant.

• Didi's $4 billion IPO order books to close Monday - sources
China's biggest ride-sharing firm Didi Global will close the investor order books for its U.S. initial public offering (IPO) to raise up to $4 billion one day early on Monday, two people with direct knowledge of the matter said.

• Republican Senate negotiators ready to 'move forward' on infrastructure after Biden walkback
Republican Senate negotiators on an infrastructure deal were optimistic about a $1.2 trillion bipartisan bill on Sunday after President Joe Biden withdrew his threat to veto the measure unless a separate Democratic spending plan also passes Congress.

• United Airlines closes in on $30 billion post-pandemic jet order
United Airlines was putting the finishing touches to an airplane order potentially worth $30 billion at list values for up to 270 narrowbody jets in a bid to secure a pandemic recovery at favourable prices, industry sources said.

• Qualcomm to work with more than 30 companies on faster 5G variant
Qualcomm said it expects to work with more than 30 carriers and telecommunications gear providers who have committed to using the faster variant of 5G networking technology.


BEFORE THE BELL
Wall Street futures were muted as investors held off from making big bets awaiting clues on the U.S. labor market recovery and corporate earnings this week. European stocks slipped on the back of a spike in COVID-19 cases across Asia and worries of a sudden tapering in ultra-loose global monetary policy in the wake of rising inflation. Japan's benchmark Nikkei index ended flat, weighed down by chip-related stocks tracking a muted Nasdaq trade in the previous session. Gold traded in a tight range as investors remained on the sidelines given the Fed's mixed signals on policy tightening, although a weaker dollar limited losses for the metal. Oil prices dipped after hitting more than 2-1/2 year highs earlier in the session, as a spike in COVID-19 cases in Asia put a brake on rally before this week's OPEC+ meeting.


STOCKS TO WATCH
Moves
• Citigroup Inc: The bank has named new co-heads of its banking, capital markets and advisory franchise for the UK and Ireland as part of a leadership shake-up to expand its client network in Europe's biggest M&A market, according to a memo seen by Reuters. James Fleming and Jan Skarbek will share the leadership of the BCMA business for the region, working closely with Andrew Seaton who has been named chairman of the same franchise after leading Citi's corporate broking team over the past ten years. "The UK & Ireland represents a globally attractive venue for international businesses to access deep pools of capital and financial services," said Nacho Orrantia-Gutierrez, Citi's head of EMEA banking, capital markets and advisory, who signed the memo. Fleming, a seasoned banker who has mostly focused on equity capital markets, will retain his current responsibilities as co-head of global ECM. The Wall Street bank also named Andrew Truscott as sole head of UK investment banking while Peter Brown will take the reins of the bank's UK corporate broking business, supporting Mark Tweedie and Louise O'Mara who are in charge of Citi's corporate banking business in the UK and Ireland, respectively.

In Other News
• Amazon.com Inc: Swisscom plans to switch to the cloud platform of Amazon Web Services for a range of applications which power its enterprise resource planning, operational support system, and analytics and contact center. The Swiss telecom operator and AWS said in a joint statement they will also look to migrate Swisscom's 5G network built on current infrastructure to a new, standalone 5G network powered by AWS's cloud platform. Standalone networks offer higher capacity and faster speeds which make it possible to apply new 5G use cases such as driverless cars or remote, high-fidelity medical consultations.

• Boeing Co: The U.S. Federal Aviation Administration (FAA) has told Boeing that its planned 777X is not yet ready for a significant certification step and warned it "realistically" will not certify the airplane until mid- to late 2023. The FAA in a May 13 letter to Boeing seen by Reuters cited a number of issues in rejecting a request by the manufacturer to issue a Type Inspection Authorization (TIA) Readiness. "The aircraft is not yet ready for TIA," the FAA wrote, declining to approve "a phased TIA of limited scope with a small number of certification flight test plans." The letter, which had not previously been made public, cites numerous concerns about lack of data and the lack of a preliminary safety assessment for the FAA to review. “The FAA will not approve any aircraft unless it meets our safety and certification standards," the agency said in a statement Sunday.

• Boeing Co & United Airlines Holdings Inc: The airline was putting the finishing touches on Monday to an airplane order potentially worth $30 billion at list values for up to 270 narrowbody jets in a bid to secure a pandemic recovery at favourable prices, industry sources said. The order could include up to 200 Boeing 737 MAX and some 70 Airbus A321neo which competes with the top end of the MAX family for single-aisle trips needing most range. Such a deal would notionally be worth $33 billion at the most recently published list prices, but analysts say airlines typically pay less than half price for deals of this size. The deal would be the industry's biggest since the coronavirus pandemic pummelled air traffic and airline balance sheets, eclipsing recent orders for more than 100 MAX from Southwest Airlines.

• Biogen Inc: U.S. lawmakers on Friday announced an investigation into the approval and pricing of Biogen's Alzheimer's drug, Aduhelm, amid concerns over its steep price and doubts if the clinical evidence proves the drug works. "We have serious concerns about the steep price of Biogen's new Alzheimer's drug Aduhelm and the process that led to its approval despite questions about the drug's clinical benefit," House Committee on Oversight and Reform said in a statement. The investigation has been announced by Rep. Carolyn Maloney, chairwoman of the Committee on Oversight and Reform, and Rep. Frank Pallone, Jr., Chairman of the Committee on Energy and Commerce. Biogen said it will "of course cooperate with any inquiry we may receive from these committees," in response to a Reuters request for comment.

• International Business Machines Corporation & Verizon Communications Inc: IBM will offer telecom operators Verizon and Telefonica new services ranging from running 5G over a cloud platform to using artificial intelligence, the U.S. technology company said on Monday. Big technology players such as Microsoft and Amazon are vying for a share of 5G revenue by offering telecom operators next-generation software tools. IBM, using technology it obtained from buying software firm Red Hat, will offer the telecom operators cloud services to run their networks and assist them in selling products tailored to customers. No financial terms were disclosed about the tie-ups, which broadened IBM's existing partnerships with the two firms. A cloud platform uses software instead of physical equipment to perform network functions, helping telecom operators build 5G networks faster, reduce costs and sell customised services. "It's a disruptive time in this particular market segment, telcos are trying to position themselves as the destination for services like augmented reality, machine learning and AI," Darell Jordan-Smith, vice president of Redhat, told Reuters.

• Johnson & Johnson: The company said on Saturday it will pay $263 million to resolve claims it fueled an opioid epidemic in New York state and two of its largest counties. The settlements remove the drugmaker from a jury trial scheduled to begin on Tuesday on Long Island, where several big opioid makers and distributors are also defendants. Johnson & Johnson did not admit liability or wrongdoing in settling with New York state, and with Nassau and Suffolk counties. The $229.9 million state settlement also calls for J&J to stop selling the painkillers nationwide. Seperately, infectious disease experts are weighing the need for booster shots of the Pfizer/BioNTech or Moderna mRNA-based vaccines for Americans who received Johnson & Johnson's one-dose vaccine due to the increasing prevalence of the more contagious Delta coronavirus variant.

• JP Morgan Chase & Co: President Emmanuel Macron will declare that Paris is back on the map of global finance on Tuesday when he inaugurates JPMorgan's new trading hub in the French capital which he hopes will attract more bankers leaving post-Brexit Britain. The U.S. bank's chief executive, Jamie Dimon, will be one of almost 120 international CEOs travelling to Versailles on Monday for Macron's now traditional "Choose France" summit in which he pitches France as an investment destination. The day after, Dimon and Macron will visit JPMorgan's new hub in central Paris, a stone's throw away from the Louvre museum, where about 440 employees will be based, many having relocated from London. Macron's advisers say that is testament to the appeal of France's pro-business reforms implemented since the former investment banker's election in 2017. JPMorgan's new trading floor is the latest concrete example of how Brexit is changing Europe's financial landscape since January.

• Metlife Inc: The Netherlands-based insurer NN Group said on Sunday it had made an offer to acquire some of MetLife’s businesses in Europe, though it did not specify which ones or disclose the size of its offer. "In line with our strategy, this is considered an opportunity to consolidate our leading positions in attractive growth markets in which NN is already active," the company said in a statement. "NN Group will further update the market if and when appropriate."

• Microsoft Corp & SolarWinds Corp: Microsoft said on Friday an attacker had won access to one of its customer-service agents and then used information from that to launch hacking attempts against customers. The company said it had found the compromise during its response to hacks by a team it identifies as responsible for earlier major breaches at SolarWinds and Microsoft. Microsoft said it had warned the affected customers. A copy of one warning seen by Reuters said the attacker belonged to the group Microsoft calls Nobelium and that it had access during the second half of May. "A sophisticated Nation-State associated actor that Microsoft identifies as NOBELLIUM accessed Microsoft customer support tools to review information regarding your Microsoft Services subscriptions," the warning reads in part.

• Moderna Inc & Pfizer Inc: The U.S. drug regulator on Friday added a warning to the literature that accompanies Pfizer/BioNTech and Moderna COVID vaccine shots to indicate the rare risk of heart inflammation after its use. For each vaccine, the fact sheets for healthcare providers have been revised to include a warning that reports of adverse events suggest increased risks of myocarditis and pericarditis, particularly after the second dose and with onset of symptoms within a few days after vaccination, the FDA said. As of June 11, more than 1,200 cases of myocarditis or pericarditis have been reported to the U.S. Vaccine Adverse Event Reporting System, out of about 300 million mRNA vaccine doses administered. The latest update from FDA follows an extensive review of information and the discussion by CDC's Advisory Committee on Immunization Practices meeting on Wednesday.

• Qualcomm Inc: The company said it expects to work with more than 30 carriers and telecommunications gear providers who have committed to using the faster variant of 5G networking technology. The fastest version of 5G uses higher frequencies and is called "millimeter wave" by Qualcomm, the world's biggest supplier of wireless data chips for smart phones, though different carriers brand it with their own trade names, such as Verizon's "5G Ultra Wideband." The millimeter wave technology is most useful in dense areas where many people are trying to connect to mobile networks at once, such as sports arenas where many fans are trying to stream video to their social networks.

• SentinelOne Inc: The Third Point-backed cybersecurity firm has boosted the price range for its IPO and is now looking to raise about $1.02 billion, a regulatory filing showed. Backed by venture capital firms including Tiger Global, Sequoia Capital and Insight Venture Partners, SentinelOne now plans to sell 32 million shares of its Class A common stock priced between $31 and $32 per share. At the top end of the price range, the company is aiming for a valuation of about $8.11 billion. It had previously expected to price its shares between $26 and $29 apiece.

• Tesla Inc: Chinese regulators said on Saturday Tesla would 'recall' nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving, with owners not required to return their vehicles. The State Administration for Market Regulation said on its website that the move is linked to an assisted driving function in the electric cars, which can currently be activated by drivers accidentally, causing sudden acceleration. The remote online software 'recall' - a first for Tesla cars built in China - covers 249,855 China-made Model 3 and Model Y cars, and 35,665 imported Model 3 sedans.

• UBS Group: The bank will allow most staff to mix remote working with time spent in the office, Switzerland's biggest bank said on Monday, taking a more relaxed approach than some of its Wall Street rivals. "We are committed to offering our employees the flexibility for hybrid working where role, tasks and location allow," UBS said. "Hybrid work options will be introduced on a country-by-country basis, with timing dependent on the local pandemic situation." The Financial Times said the policy could allow up to two thirds of UBS staff adopt the hyrbid working model.


INSIGHT
U.S. shale industry tempers output even as oil price jumps
Even with oil prices surging toward $75 a barrel, U.S. shale producers are keeping their pledges to hold the line on spending and keep output flat, a departure from previous boom cycles.


ANALYSTS' RECOMMENDATION
• Bed Bath & Beyond Inc: CFRA raises rating to buy from hold, saying the company can execute major brand introductions that will boost the digital experience, ration stores by closing low demographic locations, remodel most stores, and bring on new stores all in the new store layout with a website that showcases eight recently introduced brand product categories.

• Global Blood Therapeutics Inc: JPMorgan cuts rating to neutral from overweight, based on a discounted cash flow analysis which reflects varying probabilities of success across geographies/ages for Oxbryta for the treatment of sickle cell disease.

• Microsoft Inc: Jefferies raises target price to $310 from $290, saying the company is moving into FY22 looking for the next leg of growth from new product initiatives including a more integrated Teams and Windows 11 which brings a more modern UI, enhanced security and new Windows Store policies to incentivize developers.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1030 (approx.) Dallas Fed Manufacturing Business Index for June: Prior 34.90


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


CORPORATE EVENTS (All timings in U.S. Eastern Time)
1000 Hostess Brands Inc: Annual Shareholders Meeting
1000 Sinclair Broadcast Group Inc: Annual Shareholders Meeting
1300 Magnite Inc: Annual Shareholders Meeting


EX-DIVIDENDS
Berkshire Hills Bancorp Inc: Amount $0.12
Main Street Capital Corp: Amount $0.20
ProAssurance Corp: Amount $0.05
Two Harbors Investment Corp: Amount $0.17

Vanmorgen zien we voorbeurs niet zoveel verandering ten opzichte van afgelopen vrijdag, kleine plusjes voorbeurs bij de Dow Jones, Nasdaq en SP 500 futures terwijl de DAX en de AEX vrijwel gelijk staan ten opzichte van vrijdag. Wel is het zo dat alles zeer dicht bij de recordstanden blijft hangen, er is niet veel nodig om nieuwe hoogtepunten te bereiken. In de loop van de dag zien we wel hoe alles verloopt.

Update 28 juni:
Wall Street lag er verdeeld bij vrijdag, de Nasdaq samen met de Nasdaq 100 moesten iets inleveren terwijl de Dow Jones verder opliep en een sterke week wist af te ronden. De Dow won op weekbasis 1144 punten terwijl de S&P 500 een winst van 114 punten behaalde. Beide indices pakken dan ook al het verlies en zelfs wat meer terug van de week ervoor. Ook de Nasdaq kende een zeer sterke week met records, een winst op weekbasis van 330 punten ofwel 2,35%. De Nasdaq 100 won op weekbasis 296 punten (+2,1%).

Europa lag er wat meer verdeeld bij, de AEX geraakt wel dicht bij de recordstand die op 736 punten wacht met het slot op 733 punten. Op weekbasis won de AEX 13,5 punten (+1,9%). De DAX herpakt zich ook maar met 160 punten (+1.05%)winst op weekbasis bleef de index wel wat achter. De Franse CAC 40 boekte 53 punten winst (+0,8%). In Europa zien we wel dat de indices het moeilijker krijgen maar aan de ander kant blijven de records in beeld. De AEX nog zo'n 3 punten te gaan, de DAX 200 punten onder de All Time High. De CAC 40 staat er met het slot op 6623 punten nog 64 punten onder.

Deze week maar eens kijken hoe de markt verloopt, we beginnen nagenoeg vlak zien we aan de futures maar door dat we overal zo dicht bij de records staan moeten we er vanuit gaan dat een test van de records er kan inzitten. Bij nieuwe hoogtepunten maar eens zien hoe hoog men de lat kan leggen. Denk eraan dat er nog steeds bepaalde zaken meespelen, dan heb ik het vooral over de waarderingen van de markt samen met zaken als inflatie en de rente. Ook zitten we met de weerstand waar veel indices nu weer mee te maken krijgen. Blijf dus alert de komende dagen.

Nieuwe mogelijkheden komen er aan:
We blijven in ieder geval ook deze week zoeken naar nieuwe mogelijkheden om op de handelen met wat indices. We blijven rustig handelen en ik zal zeker geen te grote risico's nemen. Eerst maar eens zien wat de markt gaat doen nu alles rond of al boven de hoogste standen ooit staan. De volgende posities zullen waarschijnlijk short worden zoals het er nu naar uit ziet.

Mis de volgende kans in ieder geval niet, als u de signalen wilt ontvangen wordt dan vandaag nog lid via de nieuwe aanbieding die loopt tot 1 september ...

Weer wat leuke posities kunnen afronden:
Donderdag werden er wat long posities gesloten met een kleine winst. Zo staan we er deze maand in ieder geval goed voor want het is nu toch al de 7e maand op rij dat we winst maken. Dat met weinig transacties, we wachten steeds op een mooi momentum om in te stappen en waar er winst staat neem ik die, en bij verlies nemen we snel de posities weer uit de markt zodat een verlies klein blijft.

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):

Overzicht markt:

Markt technisch bekeken:
Vrijdag gebeurde er op zich niet zoveel, de Dow Jones sprong er wel weer positief uit door dat de achtergebleven sectoren een inhaalbeweging maken. Dat zijn de industrie, de olie en de bank aandelen. Daardoor won de Dow Jones 240 punten terwijl de S&P met 14 punten winst sloot en een nieuw record neerzette. De Nasdaq en de Nasdaq 100 leveren wat in maar blijven zeer dicht bij hun record. De trend blijft positief bij alle indices, nu maar eens zien of er deze week een onderbreking komt want winstnemingen komen dichterbij nu. Let er ook op dat de waarderingen zeer hoog blijven, de S&P 500 staat nu op een gemiddelde koers-winst van maar liefst 45,5.

Technische conditie AEX:
De AEX bleef vrijdag hangen rond het slot van donderdag en dat is maar een paar punten onder de recordstand die op 736 punten wacht. Veel animo zagen we niet de laatste sessie van de week, het positieve is wel dat de index dicht bij de recordstand uitkomt nu. Een test van die hoogste stand ooit zit er wel in deze week maar we moeten vooral wel kijken of de belangrijke andere indices het vol kunnen houden nu hier en daar weer records op de borden staan. Daarbij houden we vooral de technologie indices in de gaten omdat ASML zwaar meeweegt en zeer bepalend blijft voor het verloop van de AEX.

Weerstand nu het record op 736 punten, later de 740 en daarna moeten we al letten op de 750 punten. Steun blijft nu eerst weer die 718-719 punten waar de oude top wacht, later de 714 (recente bodem en het 50-daags gemiddelde.

Technische conditie DAX:
De DAX lag er vrijdag matig bij maar wist wel weer boven de belangrijke grens 15.500-15.550 punten te sluiten. Zo blijft de index op recordjacht waar de 15.802 punten als eerste weerstand wacht. Later zien we weerstand rond de 15.900 en de 16.000 punten. Steun blijft weer de zone 15.500-15.550 punten, later de 15.415 punten waar het 50-daags gemiddelde uitkomt, daar onder in ieder geval de laatste bodem rond de 15.310 punten.

S&P 500 analyse:
De S&P 500 zet vrijdag opnieuw een record neer op 4286 punten na een sterke sessie, de slotstand kwam uit op 4280,7 punten wat het hoogste slot ooit is. Weerstand nu eerst de 4300 punten, later de 4350 en de 4400 punten.

Steun wordt nu eerst de 4237 punten waar de eerdere top uitkwam, later de 4192 punten waar nog steeds zowel de steunlijn onder de bodems samen met het 50-daags gemiddelde uitkomen, pas onder deze steun moeten we opletten want dan kan het snel richting de 4150, de 4125 en de 4100 punten.

Analyse Nasdaq:
De Nasdaq bleef wat hangen vrijdag maar dicht bij de recordstand, de eerste weerstand wordt nu de hoogste stand ooit op 14.414 punten. Later richten we ons op 14.500 en later de 14.650 en de 14.750 punten. De Nasdaq blijft uiteraard volatiel en zit nog altijd in een sterke fase waar correcties snel worden opgekocht, de grote 7 top bedrijven liggen er goed bij maar er komen wat winstnemingen. Steun nu de eerdere top rond de 14.211 punten, later de 14.000 en de 13.820 waar we het 50-MA zien uitkomen.

Na de huidige uitbraak met toch redelijk wat kracht maar eens kijken waar de index naartoe kan en of er nog veel meer in het vat zit, na wat kleine winstnemingen blijft de index sterk en hoopvol maar aan de andere kant moeten we hier altijd opletten voor een stevige draai omlaag eens er een duidelijke nieuwe top staat.

Euro, olie en goud:
De euro zien we nu rond de 1.193 dollar, de prijs van een vat Brent olie komt uit op 75,25 dollar terwijl een troy ounce goud nu op 1784 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