Markt snapshot Wall Street 29 maart

TOP NEWS
• Hopes of reopening Suez Canal boosted by partial refloating of jammed shipA huge container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, raising hopes that the busy waterway will soon be reopened for a big backlog of ships.
• Nomura, Credit Suisse warn on losses after Archegos share dump
Nomura and Credit Suisse warned they were facing big losses after a U.S. hedge fund, named by sources as Archegos Capital, defaulted on margin calls, putting investors on edge about who else had been caught out.

• J&J CEO pay irks investors upset with opioid lawsuits fallout
Johnson & Johnson is coming under fire from some investors who are raising questions about companies that give their chief executives hefty pay raises despite facing billions of dollars in legal costs over their role in the U.S. opioid crisis.

• Facebook, Google plan new undersea cables to connect Southeast Asia and America
Facebook said it planned two new undersea cables to connect Singapore, Indonesia and North America in a project with Google and regional telecommunication companies to boost internet connection capacity between the regions.

• Visa moves to allow payment settlements using cryptocurrency
Visa Inc said it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.

BEFORE THE BELLWall Street futures slipped, as major lenders came under pressure on concerns over the possible spillover effects of a hedge fund's default on margin calls. European stocks traded flat in a choppy session, weighed down by Credit Suisse shares and Japan's Nikkei closed higher on optimism around domestic corporate earnings and an economic recovery in the U.S. The dollar held steady, while the prospect of tougher coronavirus curbs in France and Germany weighed on the euro. Gold prices were lower. Oil rose on expectations that the OPEC+ group of leading producers will keep output unchanged in May and fears of a long disruption at Suez Canal.

STOCKS TO WATCH
Deals Of The Day
• AJAX I Acquisition Corp: British online car seller Cazoo Holdings said it has agreed to go public in New York through a merger with the company, a blank-check acquisition company led by billionaire U.S. investor Dan Och. The deal with AJAX I, a special purpose acquisition company (SPAC) listed on the New York Stock Exchange, values Cazoo at $7 billion, including debt, more than double the $2.6 billion valuation in its private funding round in October. It underscores how vehicle sales have shifted to online platforms during the coronavirus pandemic as car buyers practice social distancing. "We think, in markets like ours, that shift is permanent because consumers are discovering new ways to transact which are better," Cazoo Chief Executive Alex Chesterman said in an interview.

• Honda Motor Co Ltd: The company has agreed to sell its only British car plant at Swindon in southern England to logistics giant Panattoni, a company spokesman said on Saturday, as the new owner reportedly plans to make a large investment at the sprawling site. The Japanese automaker, which builds about a tenth of the 1.5 million car output in Britain, made the decision two years after it announced its intention in 2019 to cease production at its Swindon plant. The plant closer is expected to lead to 3,500 job losses. Honda, which has been struggling in Europe, has said the closure of the plant was not related to Britain's departure from the European Union but it needed to focus activities in regions where it expects to sell most cars. Panattoni said it was making a 700 million pounds ($965 million) investment in its logistics-related development, with the aim of creating new jobs, once Honda completes decommissioning of the plant that builds its Civic hatchbacks, likely next spring, the Financial Times reported earlier.

• Magnachip Semiconductor Corp: A controlling stake in South Korea-based display and power chip maker was sold in a take-private, all cash deal worth about $1.4 billion to Beijing-based Wise Road Capital and its partners, Magnachip said in a statement. The transaction is expected to close during the second half of 2021, subject to customary closing conditions, including the receipt of shareholder and regulatory approvals.

In Other News
• Alphabet Inc & Facebook Inc: The company said it planned two new undersea cables to connect Singapore, Indonesia and North America in a project with Google and regional telecommunication companies to boost internet connection capacity between the regions. "Named Echo and Bifrost, those will be the first two cables to go through a new diverse route crossing the Java Sea and they will increase overall subsea capacity in the trans-pacific by about 70%," Facebook Vice President of Network Investments, Kevin Salvadori, told Reuters. He declined to specify the size of the investment, but said it was "a very material investment for us in Southeast Asia." Salvadori said "Echo" is being built in partnership with Alphabet's Google and Indonesian telecommunications' company XL Axiata and should be completed by 2023.Bifrost, which is being done in partnership with Telin, a subsidiary of Indonesia's Telkom , and Singaporean conglomerate Keppel is due to be completed by 2024.

• Amazon.com Inc: The company's social media team bared its teeth this week to go after two big critics in Congress: Senators Bernie Sanders and Elizabeth Warren. It first struck out Wednesday with tweets by Dave Clark, chief executive of Amazon's worldwide consumer business, who criticized Sanders for pushing for a $15 minimum wage and supporting Amazon workers in Alabama who are considering unionizing. On Friday, the day that Sanders met with Amazon workers in Alabama, Amazon News tweeted that Sanders' home state of Vermont's minimum wage was $11.75. Seperately, the trade union Verdi has called for workers at six Amazon sites in Germany to go on strike from Sunday evening for four days in the latest attempt to try to force the U.S. e-commerce group to recognise collective bargaining agreements. U.S. e-commerce group Amazon said deliveries were unaffected by strikes at six of its sites in Germany.

• Ares Management Corp: Troubled Australian wealth manager AMP Ltd said that Ares Management was interested in a potential buyout of its A$2.25 billion private markets business, nearly a month after the U.S. private equity fund withdrew its takeover bid for the parent company. The announcement comes at the end of the 30-day exclusivity period between Ares and AMP for the proposed AMP Capital private markets deal. There is no certainty that deal will proceed, or the terms, size or structure on which it would proceed, Sydney-headquartered AMP said in its statement. Shares of AMP fell as much as 4.1% on Monday, hitting their lowest level since Oct. 29 - a day before Ares proposed to buy the wealth manager. Stock ended 3.4% lower.

• Baidu Inc, Goldman Sachs Group Inc, Tencent Music Entertainment Group & Vipshop Holdings Ltd: The company liquidated $10.5 billion worth of stocks in block trades as part of a selling spree that erased $35 billion from the values of stocks of major companies, Bloomberg News reported on Saturday. The bank sold $6.6 billion worth of shares of Baidu Inc, Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the report said, citing an email to clients seen by Bloomberg News. Goldman Sachs did not immediately respond to a Reuters request for comment. Most of the unregistered stock offerings were managed by Morgan Stanley, on behalf of one or more undisclosed shareholders, the report added, citing people familiar with the matter.

• Bilibili Inc: The company, which is backed by Alibaba Group, closed 1% below its listing price in its Hong Kong trading debut as analysts said a U.S. regulatory crackdown on listed foreign firms hit enthusiasm for the Chinese online video site. It was the worst start in the city in six months by a major stock listing. Bilibili debuted 2.2% lower, and trade down by 6.7% before it recovered to close at HK$800 a piece. The company raised HK$20.2 billion after pricing shares at HK$808 each last week.

• BioNTech SE: Hong Kong's government said an initial investigation by Germany's BioNTech and Fosun Industrial into its coronavirus vaccine did not show any "obvious systemic factors" during packaging after use of the vaccine was suspended in the city and neighbouring Macau this week. In a statement published late on Saturday, the city's government said the investigation results did not rule out that the situation was "caused by environmental conditions during the long-haul transport process." It was not related to the cold-chain and logistical management of the vaccine and random testing of intact vials delivered to Hong Kong did not uncover any issue of leakage, it said. Both Fosun and BioNTech considered the vaccines to have no safety risks and people who have received them "do not need to worry", the government said. The remaining part of the investigation will focus on "ascertaining the integrity of the intrinsic properties of the relevant batches of vaccine, and that the batches are safe for use."

• BlackRock Inc: Top asset managers BlackRock Inc and Vanguard Group Inc have joined an investor push to limit greenhouse gas emissions to net zero by 2050, giving new momentum to the effort despite concerns its goals have some wiggle room. The two largest U.S. fund firms will now account for roughly half of the $32 trillion of total assets supporting the initiative of groups including the Institutional Investors Group on Climate Change in Europe and the United Nations-backed Principles for Responsible Investment. Among other things, asset managers will set interim reduction targets for 2030 and report progress under common standards. Some climate activists say the goals and other private-sector efforts are useful but don't go as far as potential government actions.

• Bluebird Bio Inc & Bristol-Myers Squibb Co: The U.S. Food and Drug Administration has approved Bristol-Myers Squibb Co and bluebird bio Inc's multiple myeloma therapy, ide-cel, acquired as part of its $74 billion buyout of Celgene, the drugmakers said in a joint statement late on Friday. As part of the Celgene-Bristol Myers deal, Celgene shareholders would have received a $9 per share payment if three of Celgene's top pipeline assets were approved by certain dates. However, the FDA did not approve blood cancer therapy, liso-cel, by the end of 2020 and as a result the CVR agreement was terminated.

• Boeing Co & United Airlines Holdings Inc: The planemaker has resumed deliveries of its 787 Dreamliner jets, handing over one plane to United Airlines on Friday, an initial step as the U.S. planemaker works through production defects that sidelined dozens of aircraft. The delivery from its South Carolina factory comes as Boeing undertakes painstaking repairs and forensic inspections to fix structural integrity flaws embedded deep inside dozens of 787s, issues which halted deliveries since October, cutting off a key source of cash. "We have resumed 787 deliveries, following several months of engineering analysis and inspection work," Boeing spokeswoman Jessica Kowal said by e-mail. A United Airlines representative did not immediately return a request for comment. Separately last week, the U.S. Federal Aviation Administration decided to independently handle final pre-delivery checks on four 787 jets, in the latest signal of the agency's tougher scrutiny of Boeing after two fatal 737 MAX crashes.

• Chevron Corp & Royal Dutch Shell Plc: The company has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with the matter said on Friday. "As a matter of policy we don't comment on market rumors or speculation," said Chevron spokesman Braden Reddall. Shell spokesman Curtis Smith declined to comment. A deal is not guaranteed and analysts said competing refiners often look at other businesses to evaluate their own operations. The Puget Sound plant supplies fuel markets in the northwest and competes with plants owned by BP, Marathon Petroleum and Phillips 66.

• China Petroleum & Chemical Corp: The company aims to be carbon neutral by 2050, with its near-term strategy focused on natural gas development and a long-term pivot to hydrogen, top executives said. As China's largest hydrogen producer, Sinopec will focus on fossil fuel-based hydrogen production over the next five years and also start introducing "green" hydrogen using solar and wind power, Chairman Zhang Yuzhuo said in an earnings call. "Hydrogen will be a core in Sinopec's energy transition... We want to become China's number-one hydrogen firm," said Zhang. Seperately, China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and energy demand as the COVID-19 epidemic subsided.

• Credit Suisse Group AG: The company warned they were facing big losses after a U.S. hedge fund, named by sources as Archegos Capital, defaulted on margin calls, putting investors on edge about who else had been caught out. Losses at Archegos Capital Management, run by former Tiger Asia manager Bill Hwang, had triggered a fire sale of stocks on Friday, a source familiar with the matter said. Credit Suisse said a default on margin calls by a U.S.-based fund could be "highly significant and material" to its first-quarter results. Credit Suisse said that a fund had "defaulted on margin calls" to it and other banks, meaning they were now in the process of exiting these positions.

• Deutsche Bank AG: A U.S. judge said on Friday the company may sue two offshore funds for allegedly reneging on an agreement to sell the German bank $1.6 billion of claims in the bankruptcy of swindler Bernard Madoff's namesake firm. Deutsche Bank had accused the Kingate Global Fund and Kingate Euro Fund, which funneled client money to Madoff before his Ponzi scheme collapsed in 2008, of having "sellers' remorse" for agreeing to sell the claims at 66 cents on the dollar in 2011, only to see their value later rise substantially. In refusing to dismiss the lawsuit, U.S. District Judge Edgardo Ramos in Manhattan pointed to language that the agreement was "firm, irrevocable and binding," though a formal contract was never signed and much time had passed. Lawyers for the Kingate funds did not immediately respond to requests for comment. Separetely, Deutsche's Archegos exposure was a fraction of what others have, a source familiar with the matter said, adding that the German bank had not incurred any losses and was in the process of managing its position.

• Discovery Inc & ViacomCBS Inc: Shares in the media companies tumbled around 27% each on Friday, capping a week of declines and putting both stocks roughly 50% below their recent record highs. ViacomCBS closed down $18.12 at $48.23, marking a record one-day percentage decline, with trading volume more than five times its 10-day moving average. Discovery shares dropped $15.85 to $41.90 in what was also its biggest one-day percentage decline, with volume surpassing eight times its 10-day moving average.

• Eli Lilly & Co: A former top lobbyist for the pharmaceutical giant accused a high-ranking executive and another senior manager of engaging in sexual discrimination, harassment and retaliation against women in its Washington D.C. office, according to a lawsuit filed Friday. The suit, filed in federal court by in-house lobbyist Sonya Elling, alleges that a Lilly senior vice president, Leigh Ann Pusey, repeatedly demeaned Elling and other women, and eventually forced Elling to resign. Elling’s lawsuit seeks unspecified damages for lost pay and alleged reputational and emotional harm. A Lilly spokeswoman denied the allegations in the suit. “Lilly is committed to fostering and promoting a culture of diversity and respect, and a work environment free of discrimination, harassment or retaliation of any kind,” the spokeswoman, Kathryn Beiser, said.

• Facebook Inc: Facebook has frozen Venezuelan President Nicolas Maduro's page for violating policies against spreading misinformation about COVID-19 by promoting a remedy he claims, without evidence, can cure the disease, a company spokesman said on Saturday. Maduro in January described Carvativir, an oral solution derived from thyme, as a "miracle" medication that neutralizes the coronavirus with no side effects, a claim doctors say is not backed by science. Facebook has taken down a video in which Maduro promotes the medication because it violates a policy against false claims "that something can guarantee prevention from getting COVID-19 or can guarantee recovery from COVID-19." "We follow guidance from the WHO (World Health Organization) that says there is currently no medication to cure the virus," the spokesman told Reuters.

• Hasbro Inc: Japanese gaming firm Nexon said it invested $874 million in 2020 in companies including Hasbro, Bandai Namco, Konami and Sega Sammy as part of a plan to take stakes in entertainment companies. The firm said in statement it recorded a $279 million unrealised gain on the investments, part of a $1.5 billion pool for such investments by Chief Executive Owen Mahoney in a bet on users spending increasing amounts of time in virtual worlds.

• Houghton Mifflin Harcourt Co & News Corp: The company is nearing an agreement to purchase the consumer arm of educational publisher Houghton Mifflin Harcourt, the Wall Street Journal reported on Sunday, citing people familiar with the matter. The deal could be announced as early as Monday, the newspaper reported, without mentioning financial terms. The sale of HMH Books & Media would add a portfolio of high-profile novels from authors such as George Orwell, Philip Roth and J.R.R. Tolkien to News Corp's HarperCollins Publishers division, the report added. News Corp and Boston-based Houghton Mifflin did not immediately respond to a Reuters request for a comment. News Corp said on Thursday that it would acquire Los Angeles-based financial news firm Investor's Business Daily (IBD) from O'Neil Capital Management Inc for $275 million.

• Mitsubishi UFJ Financial Group: The company and Sumitomo Corp, one of the country's largest trading houses, are being targeted with climate resolutions from activist shareholders at their annual shareholder meetings. A shareholder proposal submitted on Friday to Mitsubishi UFJ, which holds its AGM in June, called on the bank to outline how it will align investment and financing to Paris goals, according to a copy seen by Reuters. "The aim of the proposal is to manage the company's exposure to climate change risks, and maintain and increase its corporate value," said an explanatory note in the resolution, which is being sponsored by Kiko Network, a Japanese non-government organisation that had also brought the Mizuho resolution, and Rainforest Action Network. MUFG declined to comment on whether it had received the resolution, although it said it was considering tightening lending policies.

• Johnson & Johnson: The company said that its unit, Janssen Pharmaceutica NV, entered into a deal with the African Vaccine Acquisition Trust (AVAT) to make available up to 220 million doses of its single-shot COVID-19 vaccine candidate. The company said that the delivery of these vaccines to African Union's 55 member states will begin in the third quarter of 2021. The deal comes after months of negotiations with the AU, which announced a provisional agreement in January to buy 270 million doses of vaccines from three drugmakers: J&J, AstraZeneca and Pfizer-BioNTech. The status of the talks with the other two companies is not known. AVAT said many countries out of the 55 AU member states showed strong preference for J&J. Separately, Johnson & Johnson is coming under fire from some investors who are raising questions about companies that give their chief executives hefty pay raises despite facing billions of dollars in legal costs over their role in the U.S. opioid crisis.

• Nio Inc & Stellantis NV: The companies became the latest carmakers to announce new production cuts as a result of a global semiconductor chip shortage. Stellantis said on Friday it will temporarily halt production at five North American plants next week because of the global microchip shortage: two assembly plants in Canada, one in Mexico and two in the United States. The production halts will start next week through early to mid-April. Stellantis did not specify how long the shutdowns would last, but a union local in Windsor said the minivan plant would halt production for four weeks starting on Monday. Nio, one the main challengers to Tesla, which dominates the electric vehicle (EV) market in China, said it would halt production for five working days at its Hefei plant and cut its first-quarter delivery forecast by as much as 1,000 vehicles.

• Nomura Holdings Inc: The company flagged a possible $2 billion loss at a U.S. subsidiary, prompting Japan's biggest brokerage and investment bank to shelve a hefty bond issuance and sending its stock tumbling by the most in over a decade. Nomura's stock was greeted by a deluge of sell orders at market open, pushing its price down in early trade. The firm in a statement said the $2 billion hit derived from transactions with a U.S. client. It based the estimate on market prices as of March 26 and said it could change depending on the unwinding of the transactions and market fluctuation. Nomura's loss was related to Archegos' trades, Bloomberg reported citing people familiar with the matter, one of whom said Archegos was a prime brokerage customer of Nomura. Reuters' calls to Archegos' New York office after hours on Sunday local time went unanswered. Nomura declined to comment on any relationship with Archegos.

• Novavax Inc: The launch in India of a new COVID-19 vaccine developed jointly by the Serum Institute of India and the U.S.-based biotech firm is likely to be delayed to September, the Indian company's boss said on Saturday. Adar Poonawalla, the chief executive of Serum, said in January that the vaccine, named Corovax, was expected to be launched by June. On Saturday Poonawalla said the trials of Corovax had kicked off in India, but did not say why the vaccine launch was delayed.

• Novartis AG: The company is laying off 400 people and closing a U.S. gene therapy location that it bought only two years ago to make its $2.1 million per patient treatment Zolgensma as sales momentum for the most expensive one-time treatment stalled last year. Novartis is closing the Longmont, Colo., plant after buying it from AstraZeneca in 2019, U.S. media including the Denver Business Journal reported. Sales of Zolgensma, a one-time treatment for spinal muscular atrophy, were $254 million in the fourth quarter from about $291 million in the third quarter, company data show. Novartis now plans to make gene therapy at two other commercial production locations in Illinois and North Carolina. "We now know that we can fulfill our long-term demand, including for patients who may benefit from our next wave of gene therapies, with two commercial sites coupled with the technical development capabilities at our San Diego site, as well as our extensive network of external partners,” Novartis said in a statement to media.

• Occidental Petroleum Corp: The company will tie results achieved in the company's low-carbon business to its chief executive's cash bonus this year, the oil and gas producer said in a securities filing on Friday. Occidental is setting ambitious climate targets and trying to turn its low-carbon unit into a profitable business after it cut jobs and output last year when the coronavirus pandemic hammered global energy demand. The company increased the weight assigned to its emissions reductions and low-carbon ventures unit to 30% of CEO Vicki Hollub's target bonus, according to its proxy filing.

• Royal Dutch Shell Plc: The company has proposed linking its directors' pay more closely to the group's climate performance and severing the link between bonuses and liquefied natural gas (LNG) production volumes, it said. The weighting of Shell's energy transition performance on its targeted path to net zero emissions by 2050 would double to 20% of the directors' long-term incentive plan calculation if shareholders vote for the plan at a meeting on May 18. This places Shell's efforts to curb its planet-warming emissions on an equal footing with financial metrics such as free cash flow generation when it comes to remunerating directors in Shell shares. The weighting of the energy transition metric to calculate directors' bonuses would increase to 15% from 10% under the changes.

• Tencent Music Entertainment Group: The company announced a $1 billion share repurchase plan, its biggest, late on Sunday, days after the U.S. securities regulator adopted stricter measures for foreign companies listed on American stock exchanges. The Chinese music streaming company may buy back up to $1 billion of its Class A ordinary shares in the form of American depositary shares during a twelve-month period starting March 29, it said in a statement. U.S.-listed shares of Tencent Music lost more than a third of their value last week.

• Toyota Motor Corp: The company opened its first commercial hydrogen fuel pump site in the Australian state of Victoria, urging the government to encourage the rollout of more sites to boost the take-up of cleaner cars. The automaker is bringing in 20 of its Mirai hydrogen fuel cell cars to Australia in April, placing them in fleets to gain feedback on how they run. The site west of Melbourne is also its biggest globally in terms of producing, storing and dispensing hydrogen. Toyota has sold some 10,000 Mirai vehicles, mostly in Japan and the United States. "Here in Australia, refuelling infrastructure has been the biggest challenge, and still is, to introducing pioneering vehicles like the Mirai. So this is an important step forward to rectifying that," said Matthew MacLeod, Toyota Australia's manager of future technologies and mobility.

• Vale SA: Rio de Janeiro police have begun investigating allegations brought by Israeli billionaire Beny Steinmetz that Brazilian miner Vale illegally concealed from its shareholders the conditions under which Steinmetz's company BSGR was supposed to mine one of the world's biggest iron ore deposits, state prosecutors said on Friday. Vale and BSG Resources Ltd (BSGR), which entered a joint venture agreement in 2010 to develop the vast Simandou field in Guinea, are locked in a long-running legal dispute over the iron ore project. Vale and BSG Resources Ltd (BSGR), which entered a joint venture agreement in 2010 to develop the vast Simandou field in Guinea, are locked in a long-running legal dispute over the iron ore project.

• Visa: The company said it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry. Visa has launched the pilot program with payment and crypto platform Crypto.com and plans to offer the option to more partners later this year, it said. The USD Coin (USDC) is a stablecoin cryptocurrency whose value is pegged directly to the U.S. dollar. "We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we're seeing demand from our clients to be able to build products that provide that access for consumers," Cuy Sheffield, head of crypto at Visa, said.

• Whirlpool Corp: A global shortage of chips that has rattled production lines at car companies and squeezed stockpiles at gadget makers, is now leaving home appliance makers unable to meet demand, according to the president of Whirlpool Corp in China. The U.S. based company, one of the world's largest white goods firm, is falling behind on exports to Europe and the United States from China, by as much as 25% on some months, Jason Ai told Reuters in Shanghai. "It's a perfect storm," he said on the sidelines of the Appliance and World Electronics Expo. "On the one hand we have to satisfy domestic demand for appliances, on the other hand we're facing an explosion of export orders. As far as chips go, for those of us in China, it was inevitable."

INSIGHT
How the American SPACs rocket has failed to take off in Europe
European reluctance among both companies and investors partly reflects the relative maturity of the region's tech startups before they go public, compared with U.S. counterparts, according to Reuters interviews with more than 20 entrepreneurs, investors, lawyers and bankers.

ANALYSTS' RECOMMENDATION
• Ford Motor Co: Jefferies raises target price to $16 from $14, formulating an EV strategy and continuing to play to its strength in commercial vehicle operations.

• Immunocore Holdings Plc: Jefferies initiates with rating buy and target $65, after reporting in-line fourth-quarter results along with hosting two new investor meetings for new drugs potential.

• Southwest Gas Holdings Inc: JPMorgan raises target price to $69 from $63, saying that its customer growth remains attractive and the company has realized construction tailwinds from storm-related electric services work benefitting ongoing earnings.

ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1130 (approx) Dallas Fed Manufacturing Business Index for Mar: Prior 17.20

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)
1630 Butterfly Network Inc: Q4 earnings conference call
1630 Seer Inc: Q4 earnings conference call
1630 Vaxcyte Inc: Q4 earnings conference call
1700 Abcellera Biologics Inc: Q4 earnings conference call
1700 Canoo Inc: Q4 earnings conference call
1700 Danimer Scientific Inc: Q4 earnings conference call

EX-DIVIDENDS
Curtiss-Wright Corp: Amount $0.17
Medifast Inc: Amount $1.42
Towne Bank: Amount $0.18

Ma 29 mrt. 2021, 08:44

TA - Greep uit de AEX

Arcelormittal Het gaat Arcelormittal de afgelopen maanden voor de wind. Het profiteert momenteel sterk van een hogere staalproductie en stijgende grondstofprijzen. Dit is duidelijke terug te zien in de koers. In oktober stoeide het aandeel nog met de weerstand op 10,75 EUR, nu noteert het net…

Lees verder »

Ma 29 mrt. 2021, 08:35

Ochtend update: Lagere start week, AEX richting record later?

Goedemorgen
Vrijdag was er opnieuw genoeg beweging te zien op de beurzen want alles begon vlak tot iets hoger maar vooral na de opening van Wall Street kwam er een rally op gang via de Dow Jones die op slotbasis met 453 punten winst de sessie afsloot met een nieuw record op slotbasis, het hoogste slot ooit staat nu op 33.072,88 punten. Ook de SP 500-index won met 65 punten fors en zet op slotbasis ook een nieuw record neer op 3.974,54 punten.

De Nasdaq Composite won vrijdag ook 161 punten om op 13.138 punten af te sluiten, de index stond gedurende de sessie wel even op 12.878 punten en dus even in het rood terecht kwam. In Europa lag de AEX er heel sterk bij, de index won 11,3 punten vrijdag, de DAX won ook en komt zo op een fractie van het record uit, de DAX won 127 punten vrijdag.

Om bij de AEX een nieuw record neer te zetten moeten we nog zo'n 6 punten hoger zien te geraken, we zijn er dus bijna want vorige week was dat nog ruim 20 punten.

Deze week:
Door Goede vrijdag is er volgende week een korte week want alles in de gehele wereld blijft dicht aankomende vrijdag. Wat echter ongebruikelijk is, vrijdag komt er wel een belangrijk rapport naar buiten over werkgelegenheid midden in de pandemie. Dat wil zeggen dat er WEL cijfers komen terwijl alle beurzen dicht zijn. Dat komt omdat Goede Vrijdag 2 april geen federale feestdag is. Door dat Pasen elk jaar op een ander tijdstip komt is het maar zelden het geval dat er op Goede Vrijdag zulke belangrijke cijfers worden gepresenteerd, sinds 1980 nog maar 12 keer. De laatste keer was dat zo in 2015, daarvoor ook in 2012 en 2010.

Resultaat dit jaar 2021 verloopt naar wens:
Er staan wat posities open op wat indices en die doen het meer dan goed, in de loop van de komende week zal ik winst nemen en zo verwacht ik ook de 3e maand van dit jaar met winst te sluiten. Met de maand december erbij komen we op 4 maanden met winst na elkaar. Ik wil die reeks doorzetten en heb zeker weer plannen voor de komende maand (april), ik heb er een visie op waar we iets moois mee kunnen doen !!

Onderaan deze update ziet u nog een overzicht tot nu toe wat betreft de signalen die we naar de leden versturen en dat vanaf begin dit jaar. Verder ziet u de nieuwe aanbieding om mee te doen met onze signalen tot 1 JUNI. Via de site en dan de Tradershop kunt u als lid de lopende posities met alle details altijd inzien via https://www.usmarkets.nl/tradershop

Indicatie markt:
Als ik het verloop van de indices bekijk dan zien we vorige week een paar sterke en een paar mindere sessies maar per slot van rekening sluiten vrijwel alle indices de week af met een plus. Dat wil zeggen dat de indices nog altijd in hun opgaande beweging blijven, vooral de meer traditionele indices zoals de Dow Jones, de S&P 500, de Dow Transport zetten op Wall Street een nieuwe records neer op slotbasis.

De verwachting is dat Wall Street deze week in ieder geval zal proberen om de records nog wat aan te scherpen, de tech indices kunnen nu ook volgen zo te zien en dat kan de markt in ieder geval tot donderdag helpen. Wel begint de week negatief via de futures, niet veel maar toch wat lager rond de start hier in Europa.

Bij de AEX en de DAX zie je dat nog niet vanmorgen, de AEX future staat zelfs iets hoger terwijl de DAX future iets lager staat net voor de opening. De indices blijven dus heel dicht bij hun hoogste stand ooit ofwel nieuwe records kunnen er snel aan komen. Wat dat betreft kan ik niet verder dan er rekening mee te houden dat deze week opnieuw positief kan worden.

Inflatie en rente:
De 10 jaar rente in de VS staat vanmorgen op 1,643% zoals u kunt zien hieronder op de afbeelding. De rente in Duitsland daalt naar -0,357% en blijft negatief. Wel kruipen de rentes de afgelopen weken wat omhoog en dat is duidelijk merkbaar.

De vraag is en blijft natuurlijk of de rente nog verder zal oplopen de komende weken? Of werd er al een tijdelijke top bereikt? Dat komt omdat men het wel heel goed verwacht na de pandemie, de economie in de VS en ook over de gehele wereld zal volgens veel beleggers en speculanten sterk groeien later dit jaar en volgend jaar. Deze ontwikkelingen zorgen ervoor dat de inflatie zal toenemen.

Het voelt wel allemaal dubbel momenteel, in de VS lijkt het niet op te kunnen de afgelopen tijd. De vraag is natuurlijk of het allemaal wel echt zo is? Er staan nog heel wat vragen open ...

Technische conditie Wall Street:
Wat betreft Wall Street zien we dat de Dow Jones en de S&P 500 vrijdag weer opnieuw records neerzetten wat wil zeggen dat het er technisch nog altijd sterk uitziet want anders komen er geen nieuwe records tot stand. Pas als de indices er 2 tot 3% onder hun recordstand uitkomen moeten we ons zorgen beginnen te maken dat het daarna voor een tijdje over en uit kan zijn. De Dow Jones en de S&P 500 blijven in ieder geval ook nog ruim boven hun 20-MA en 50-MA (MA = daags gemiddelde) en staan nu al een hele lange periode boven hun 200-MA.

Dat de technologie indices (de Nasdaq, de Nasdaq 100 en de SOX index) het moeilijker hebben zien we door dat ze nog onder hun 20-MA en rondom hun 50-MA uitkomen. Ze blijven rond dat 50-MA heen draaien maar willen er blijkbaar ook niet echt duidelijk van weglopen hetgeen ook voor deze indices hoop op herstel aangeeft. De tech indices proberen telkens wel weer op te krabbelen maar krijgen de belangrijke frontrunners van eerder nog niet echt duidelijk met zich mee, niet allemaal gelijktijdig in ieder geval. Wel verwacht ik dat deze indices volatiel zullen blijven en dat we die grote uitslagen vast zullen houden voorlopig. Daar zal ik waar het kan op proberen te handelen.

Technische conditie AEX en DAX:

AEX index:
We zien zowel op de korte als op de langere termijn een uitbraak sinds vrijdag bij de AEX index, het wachten tussen de pakweg 675 en 687 punten duurde al lang genoeg want de index bleef zo'n 10 dagen hangen binnen deze range van 10 tot 12 punten, de top van midden februari rond de 688-690 punten doemde daar steeds op als zware hindernis. Vrijdag zijn we er eindelijk boven geraakt via de uitbraak en die was meteen behoorlijk krachtig. Je kon er ook al op wachten omdat de index in de 10 dagen binnen die genoemde range van ongeveer 12 punten geen enkele leer de intentie had om zwaar onderuit te gaan terwijl alle kansen daartoe wel aanwezig waren. Denk aan enkele pogingen omlaag op Wall Street vorige week en dan vooral via de Nasdaq waar de AEX meestal wel gevoelig voor is.

Nu de index boven die zware weerstand geraakt en die blijkbaar ook makkelijk achter zich lijkt te laten ziet er goed en sterk uit voor wat betreft de AEX index. Het is nu wachten op een test van het oude record op 703 punten dat werd gemaakt in 2000 ofwel maar liefst bijna 21 jaar geleden. De index is wat betreft de samenstelling nu totaal anders dan toen maar een record is een record en die zijn er als richtpunt waar iets naartoe moet gaan voor er nieuwe records worden gemaakt.

We moeten in ieder geval een keer afrekenen met die 702-703 punten om dat van de tabellen te halen, het is goed voor het vertrouwen van beleggers die veel andere indices wel record op record zien breken maar hier niet. Vanaf volgende week kunnen we er anders over spreken, eindelijk dan maar. Het moet wel nog lukken maar gezien de uitbraak van vrijdag, de kracht waar de index zich mee staande blijft houden en de durf van beleggers die weer gaan instappen rond nieuwe hoogtepunten ga ik uit van een mooie week in aantocht, een korte week want vrijdag is alles dicht door Goede Vrijdag ...

Dag grafiek AEX index:

DAX index:
De DAX doet het ook meer dan goed en geraakt vrijdag bijna weer tot de hoogste stand ooit, de uptrend blijft duidelijk, het doel wordt nu de lijn over de toppen. Vorige week moest de index even een stap terug maar zoals u kunt zien werd die snel weer opgekocht in een snel tempo. Alle indices, dus ook de DAX, zijn rijp voor een grotere correctie maar die komt er pas zodra beleggers het opgeven ofwel de daling door laten zetten. Dat wil zeggen dat het "Buy The DIP" gedrag er eerst uit zal moeten, daarna zou het wel eens snel kunnen gaan maar zoals we merken is het nog niet zo ver.

Steun nu de blauwe oplopende lijn met daaronder de groene horizontale lijn. Dat is dan rond de 14.250 en de 14.100 punten. Nog meer dan genoeg ruimte, eerst is er ook nog het 20-MA rond de 14.450 punten. Rond die groene horizontale steunlijn op de grafiek zien we ook nog het 50-MA uitkomen op 14.110 punten. De indicatoren bij de DAX staan nog in de positieve zone en blijven de index volgen.

Dag grafiek DAX index:

Euro, olie en goud:
De euro zien we nu rond de 1.1775 dollar, de prijs van een vat Brent olie komt uit op 63.2 dollar terwijl een troy ounce goud nu op 1727 dollar staat.

Resultaat dit jaar 2021 verloopt naar wens:
Onderaan deze update ziet u nog een overzicht wat betreft Trading en een aanbieding om mee te doen met onze signalen tot 1 JUNI. Via de site en dan de Tradershop kunt u de posities met alle details zien staan. https://www.usmarkets.nl/tradershop

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 !

Inter Market overzicht op slotbasis ...

Nu lid worden tot 1 JUNI voor €39?
Blijven schakelen tussen long en short blijft belangrijk de komende weken. Ook deze maand (maart) krijgen we genoeg kansen. Doe nu in ieder geval mee met de proef aanbieding voor nieuwe leden, die loopt tot 1 JUNI en dat met een mooie korting !! ... €39 tot 1 JUNI 2021 ... en voor Polleke €49 tot 1 JUNI 2021 !!! https://www.usmarkets.nl/tradershop

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Hieronder het resultaat tot nu toe dit jaar (2021) ...

Met vriendelijke groet,
Guy Boscart