Liveblog Archief woensdag 16 september 2020
DOW TRANSPORTS NEAR RECORD TERRITORY...The weekly bars in Chart 1 show the Dow Transports rising above their late 2019 peak...
Deze inhoud is alleen beschikbaar voor betalende leden.
|USA||USA: Rentevoetbeslissing||20:00||0,25%||0,25%||0,25%||Actueel: 0,25% Verwacht: 0,25% Vorige: 0,25%|
|USA||USA: Ruwe Olievoorraden||16:30||-4,389M||1,271M||2,032M||Actueel: -4,389M Verwacht: 1,271M Vorige: 2,032M|
• Fed expected to raise economic forecasts, extend vow to keep rates low
The Federal Reserve is expected to wrap up its latest policy meeting with somewhat rosier economic forecasts but a renewed pledge to keep interest rates low for as long as the world's biggest economy needs to recover from its deepest downturn in decades.
• Boeing, FAA failures to blame for 737 MAX crashes -U.S. House report
Two Boeing 737 MAX crashes that killed all 346 passengers and crew aboard were the "horrific culmination" of failures by the planemaker and Federal Aviation Administration (FAA), a U.S. House panel concluded after an 18-month investigation.
• GM to manufacture own "family" of EV drive systems, motors
General Motors is set to announce plans to put into production an interchangeable "family" of electric vehicle (EV) drive systems and motors, boosting manufacturing effiencies as it transitions to a fully electric lineup.
• Lilly says antibody reduces need for hospitalization for moderate COVID-19 patients
Eli Lilly said that its experimental antibody reduced the need for hospitalization and emergency room visits for patients with moderate COVID-19, according to an interim analysis of a mid-stage clinical trial.
• Investors expect reprieve on contentious U.S. shareholder voting rights rule
U.S. investors expect the securities regulator to drop a contentious provision in a new rule that would make it tougher for them to push companies on issues such as climate change and social justice, according to three people briefed on the matter.
BEFORE THE BELL
U.S. stock index futures rose as investors hoped for a pledge by the Federal Reserve to keep interest rates low for a prolonged period, with upbeat quarterly results from FedEx also boosting sentiment. Gains in retail stocks nudged European equities higher. China stocks snapped a three-session rally to close lower, with consumer and healthcare shares leading losses, while Japanese stocks ended marginally higher. Oil prices jumped as a hurricane closed U.S. offshore production and an industry report showed U.S. crude inventories unexpectedly decreased. Gold prices rose, helped by a subdued dollar. The Japanese yen made significant gains and touched a two-week high. Data on retail sales is scheduled for release later in the day.
STOCKS TO WATCH
• FedEx Corp (FDX). The U.S. delivery firm reported a bigger-than-expected quarterly profit on Tuesday, after price hikes, lower fuel costs and efficiency gains countered negative impacts associated with a pandemic-fueled surge in e-commerce shipments. Average daily package volume for FedEx Ground jumped 31% to 11.6 million during the fiscal first quarter. Revenue per package rose 2% to $9.33 during the quarter, which also included one additional business day.FedEx did not provide an earnings forecast for fiscal 2021, citing continued uncertainty, but said it expects annual capital spending of $5.1 billion, above analysts' average estimate of $4.96 billion. Fiscal first quarter adjusted net income at FedEx jumped 60% to $1.28 billion, or $4.87 per share. Revenue rose 13.5% to $19.3 billion. Analysts expected earnings of $2.69 per share and revenue of $17.55 billion.
• ZTO Express (Cayman) Inc (ZTO). The Chinese delivery group aims to raise up to $1.55 billion in the Hong Kong Stock Exchange, according to the company's filings, the latest in a series of secondary listings to be carried out in the city this year. ZTO Express, which is already listed in New York, begins its institutional bookbuild and will sell 45 million shares at a maximum price of $34.60 per share, the filings showed. Final prices of the shares will be set next Tuesdayand the stock is due to start trading in Hong Kong on Sept. 29.
• Snowflake Inc (SNOW). The company said late on Tuesday that its initial public offering raised $3.36 billion after it was priced above the target range in the biggest U.S. listing so far this year. The IPO, which was priced at $120 per share, values the cloud-based data warehouse firm at north of $30 billion.
In Other News
• Alibaba Group Holding Ltd (BABA). The company unveiled a pilot factory in the eastern Chinese city of Hangzhou as part of its "smart manufacturing" business initiative. The announcement marks a continuation of Alibaba's expansion beyond its core business of e-commerce and into sectors on other parts of the online retail supply chain. Separately, Alibaba and China Mobile Communications are considering investing $443 million in Zhejiang Dahua Technology, three people with knowledge of the matter said.
• Amazon.com Inc (AMZN). The company's main UK subsidiary, Amazon UK Services Ltd., paid just $8 million in corporation tax in 2019 despite the group reporting over $17.5 billion in sales in Britain, accounts published show. Amazon said the low figure reflected the underlying condition of its UK business. Amazon has faced criticism for its tax practices in the UK for years and is currently fighting a legal battle with the European Commission over claims, which Amazon denies, that it received unfair tax advantages from Luxembourg.
• AT&T Inc (T). The company is considering offering wireless phone plans partially subsidized by advertising as soon as a year from now, Chief Executive John Stankey said in an interview on Tuesday. The consideration, which has not been previously disclosed, underscores AT&T’s commitment to the advertising business as the U.S. phone carrier reviews its portfolio to identify assets to sell in order to reduce its debt load. AT&T is considering selling its advertising-technology unit Xandr, sources familiar with the matter have told Reuters.
• Boeing Co (BA). Two Boeing 737 MAX crashes that killed all 346 passengers and crew aboard were the "horrific culmination" of failures by the planemaker and Federal Aviation Administration (FAA), a U.S. House panel concluded after an 18-month investigation. The crashes "were not the result of a singular failure, technical mistake, or mismanaged event," the House Transportation and Infrastructure Committee's Democratic majority said in its highly critical report released.
• Eastman Kodak Co (KODK). Securities transactions made by Eastman Kodak Chief Executive Officer Jim Continenza around the time the photography equipment maker learned it could receive a $765 million government loan did not violate internal policies, a law firm hired by the company's board said on Tuesday. However, an investigation found "gaps" in Kodak's insider trading processes where certain individuals were not included on insider lists, Akin Gump Strauss Hauer & Feld LLP said in a report to a special committee of independent directors at Kodak's board.
• Eli Lilly & Co (LLY). The company said that its experimental antibody reduced the need for hospitalization and emergency room visits for patients with moderate COVID-19, according to an interim analysis of a mid-stage clinical trial. The study tested three different doses of LY-CoV555, a manufactured antibody designed to recognize and lock onto the novel coronavirus, preventing the infection from spreading. Of the total 302 patients treated with three different doses of LY-CoV555, five of them, or 1.7%, had to be admitted to a hospital or visit a hospital emergency room. That compares with a rate of 6%, or 9 out of 150, for trial patients given a placebo, the company said.
• General Motors Co (GM). The company is set to announce plans on Wednesday to put into production an interchangeable "family" of electric vehicle (EV) drive systems and motors, boosting manufacturing effiencies as it transitions to a fully electric lineup. The move, which follows earlier GM initiatives on next-generation batteries, comes as the Detroit automaker looks to build a vertically integrated electric car business, comparable to Tesla, inside its ongoing operations.
• JPMorgan Chase & Co (JPM). The company is adding six new members to its operating committee, Chief Executive Officer Jamie Dimon said on Tuesday in a memo that was seen by Reuters. The new members include Thasunda Brown Duckett, chief executive of consumer banking at the U.S. bank, Troy Rohrbaugh, who heads global markets and Teresa Heitsenrether, the global head of securities services.
• KKR & Co Inc (KKR). The private equity powerhouse has raised over $11 billion after the first-close of its fourth Asia-focused fund, its Beijing-based managing director Chris Sun said. KKR started marketing the new Asia fund towards the end of last year before the COVID-19 pandemic, targeting $12.5 billion in what would be the region's biggest private equity fund, people familiar with the situation have said.
• Nasdaq Inc (NDAQ). The Exchange group said that it is launching AI technology to help retail and commercial banks automate anti-money laundering (AML) investigations, as it expands into the financial crime software market. The company hopes the system can make it quicker and cheaper for banks and other financial institutions to sift through the deluge of alerts flagging possible cases of money laundering generated by bank transaction monitoring systems.
• Pfizer Inc (PFE). U.S. President Donald Trump on Tuesday said a vaccine against the deadly coronavirus could be three or four weeks away, underscoring predictions made by U.S. public health officials and Pfizer earlier this month. Separately, Pfizer said on Tuesday participants were showing mostly mild-to-moderate side effects when given either the company's experimental coronavirus vaccine or a placebo in an ongoing late-stage study. The company said in a presentation to investors that side effects included fatigue, headache, chills and muscle pain.
• Uber Technologies Inc (UBER). The back-up safety driver behind the wheel of a self-driving Uber test vehicle that struck and killed a woman in Tempe, Arizona, in 2018 was charged with negligent homicide, prosecutors said on Tuesday. Rafael Vasquez, age 46, who is also known as Rafaela, pleaded not guilty on Tuesday after being charged in the death of Elaine Herzberg on Aug. 27, court records show. She was released pending trial set for February 2021.
Color blind? How boardroom diversity data eludes advocates
Last month CtW Investment Group urged Fresenius Medical Care to add diverse directors to its board. The group determined the German company lacked diversity by studying photos of directors and reviewing their backgrounds online to determine their race. "It’s a very crude way," Dieter Waizenegger, executive director of labor-affiliated CtW, acknowledged in an interview with Reuters. He added that without formal declarations by the directors themselves, outsiders could not be certain of their race.
• Adobe Inc (ADBE). RBC raises target price to $570 from $550, citing the company’s very strong Q3 earnings highlighted by the largest net new Digital Media annualized recurring revenue beat in the company's history.
• Apple Inc (AAPL). Piper Sandler raises target price to $130 from $113, factoring the company’s new product lineup, particularly related to the Watch and the services.
• FedEx Corp (FDX). Cowen and Company raises target price to $290 from $264, saying the company had one of the best quarters in its history as volumes surged due to growth in ecommerce and strong yields leading to strong revenues.
• Lennar Corp (LEN). RBC raises to outperform from sector perform, factoring the company’s broad geographic scale, return profile, and position across the price spectrum.
ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Retail sales ex-autos mm for Aug: Expected 0.9%; Prior 1.9%
0830 Retail sales mm for Aug: Expected 1.0%; Prior 1.2%
0830 Retail ex-gas/autos for Aug: Prior 1.5%
0830 Retail control for Aug: Expected 0.5%; Prior 1.4%
0830 (approx.) Retail sales yy for Aug: Prior 2.74%
1000 Business inventories mm for July: Expected 0.1%; Prior -1.1%
1000 Retail inventories ex-auto R for July: Prior 0.6%
1000 NAHB Housing Market Index for Sep: Expected 78; Prior 78
1400 Fed funds target rate: Expected 0-0.25%; Prior 0-0.25%
1400 Fed interest on excess reserves: Prior 0.10%
1400 (approx.) Federal funds rate projection-current for Q3: Prior 0.1%
1400 (approx.) Federal funds rate projection-1st year for Q3: Prior 0.1%
1400 (approx.) Federal funds rate projection-2nd year for Q3: Prior 0.1%
1400 (approx.) Federal funds rate projection-3rd year for Q3: Prior 2.1%
1400 (approx.) Federal funds rate projection-longer for Q3: Prior 2.5%
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)
0900 Take-Two Interactive Software Inc (TTWO). Annual Shareholders Meeting
1030 Brady Corp (BRC). Q4 earnings conference call
1200 Methode Electronics Inc (MEI). Annual Shareholders Meeting
Aaron's Inc (AAN). Amount $0.04
American International Group Inc (AIG). Amount $0.32
Eversource Energy (ES). Amount $0.56
Greif Inc (GEF). Amount $0.44
Huntington Bancshares Inc (HBAN). Amount $0.15
Prologis Inc (PLD). Amount $0.58
Synovus Financial Corp (SNV). Amount $0.33
Vector Group Ltd (VGR). Amount $0.20
|USA||USA: Kern Detailhandelsverkopen (Maandelijks) (Aug)||14:30||0,7%||0,9%||1,3%||Actueel: 0,7% Verwacht: 0,9% Vorige: 1,3%|
|USA||USA: Detailhandelsverkopen (Maandelijks) (Aug)||14:30||0,6%||1,0%||0,9%||Actueel: 0,6% Verwacht: 1,0% Vorige: 0,9%|
De Dow Jones sloot nagenoeg vlak de sessie af gisteren terwijl de Nasdaq verder opliep en 1,2% hoger uitkwam, de SP 500 deed het met een winst van 0,5% ook goed gisteren. De AEX won 3,5 punten terwijl de DAX 24 punten hoger uitkwam. Op zich weer een TOP-8 dagje zo te zien, de zwaargewichten trokken de markt weer eens. Toch blijft Wall Street in de probleem zone als we het projecteren naar pakweg 2 weken geleden toen er nog records werden gemaakt bij vooral de Nasdaq en de SP 500. De Nasdaq 100 staat nog altijd meer dan 1000 punten onder de top, de SP 500 zo'n 180 punten onder de hoogste stand ooit.
Beleggers richten zich nu op de uitspraak van Trump dat er over 3 tot 4 weken een vaccin is en op de FED die bijeenzit om te vergaderen over de rente. Er wordt verwacht dat er geen veranderingen komen in het beleid van de Amerikaanse centrale bank. Wel zal men luisteren naar wat FED-voorzitter Jerome Powell zal vertellen vanavond, vooral is men benieuwd of er nieuwe stappen zullen komen om iets te doen tegen de crisis ook al deed de FED al heel wat de afgelopen tijd. De vraag is of er nog veel ruimte overblijft en dat terwijl er al problemen komen om de belangrijke inflatie op pijl te kunnen houden.
Verder kijken we naar het verloop vandaag, we hebben 2 sterke dagen achter de rug bij de Nasdaq, de andere indices weten het nog niet zo goed en blijven achter. Het kan bij de Nasdaq natuurlijk een technische reactie zijn op de grote terugval, dat is vaak zo dat beleggers dan denken de aandelen goedkoop in te kunnen kopen maar door de BUBBEL is dat nog lang niet het geval. De overwaardering was ongekend en dat blijft ook nu nog zo ... Bij andere indices is dat minder het geval maar na de enorme rally vanaf midden maart kunnen alle indices nog 5 tot 10% lager als het daarbij blijft, dus blijf opletten voor teveel optimisme en zeker bij de technologie aandelen ...
Wat kunnen we doen wat betreft nieuwe posities:
Zoals ik al aangaf in de vorige update werden er wat kleine posities opgenomen, de lopen dus nog en ik zal zien tot waar ik die kan aanhouden. De leden weten de details en wachten dus op een signaal om te sluiten. Men kan eventueel nog mee door lid te worden, er loopt dus een aanbieding voos €39 tot 1 NOVEMBER ...
Lid worden kan via de aanbieding die loopt tot 1 NOVEMBER, lid worden kan nu voor €39, een proefabonnement. Om u in te schrijven ga naar https://www.usmarkets.nl/tradershop en dan staat u meteen op de lijst.
Verder zijn we de maand september goed begonnen, zie hieronder de tabel met het resultaat van de gesloten posities .... Systeem Trading staat nu al op €866 winst en we gaan voor meer want september duurt nog even ...
Tot later ... Guy
GLOBAL TOP NEWS
The World Trade Organization found on Tuesday that the United States breached global trading rules by imposing multibillion-dollar tariffs in President Donald Trump's trade war with China, a ruling that drew anger from Washington.
Britain offered tentative concessions on fisheries in trade talks with the European Union last week, two diplomatic sources told Reuters, just as London was publicly threatening to breach the terms of its divorce deal with the bloc.
Yoshihide Suga was elected as Japan's prime minister, becoming the country's first new leader in nearly eight years and facing a raft of challenges including reviving an economy battered by the COVID-19 crisis.
EUROPEAN COMPANY NEWS
The top U.S. Food and Drug Administration official on Tuesday confirmed AstraZeneca's U.S. COVID-19 vaccine trial is on hold, saying the agency is planning to do "very significant work" with the company as it conducts its investigation after an illness in a participant in Britain.
London judges have ruled that some of the world's biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain's Financial Conduct Authority (FCA) said on Tuesday.
Bayer has settled thousands of U.S. Roundup weed killer lawsuits as part of an $11 billion settlement, reaching deals with the only lawyers who took cases to trial over allegations the herbicide caused cancer.
TODAY'S COMPANY ANNOUNCEMENTS
Biohit Oyj Annual Shareholders Meeting
Central Asia Metals PLC HY 2020 Earnings Call
Cloudberry Clean Energy AS Q2 2020 Earnings Call
Eckoh PLC Annual Shareholders Meeting
Embracer Group AB Annual Shareholders Meeting
Galliford Try PLC FY 2020 Earnings Release
Jupiter Green Investment Trust PLC Annual Shareholders Meeting
Madvertise SA Annual Shareholders Meeting
Mirada PLC Annual Shareholders Meeting
OAB Osnabruecker Anlagen und Beteiligungs AG Annual Shareholders Meeting
Pacte Novation SA Annual Shareholders Meeting
Pan African Resources PLC FY 2020 Earnings Call
PV Crystalox Solar PLC Shareholders Meeting
Redcentric PLC Annual Shareholders Meeting
Redde Northgate PLC FY 2020 Earnings Release
Voltabox AG Annual Shareholders Meeting
Witan Pacific Investment Trust PLC Shareholders Meeting
ECONOMIC EVENTS (All times GMT)
0600 (approx.) United Kingdom Core CPI mm for Aug: Expected -0.9%; Prior 0.4%
0600 (approx.) United Kingdom Core CPI yy for Aug: Expected 0.6%; Prior 1.8%
0600 (approx.) United Kingdom CPI mm for Aug: Expected -0.6%; Prior 0.4%
0600 (approx.) United Kingdom CPI yy for Aug: Expected 0.0%; Prior 1.0%
0600 (approx.) United Kingdom RPI mm for Aug: Expected -0.3%; Prior 0.5%
0600 (approx.) United Kingdom RPI yy for Aug: Expected 0.6%; Prior 1.6%
0600 (approx.) United Kingdom RPI-X (Retail Prices) mm for Aug: Prior 0.5%
0600 (approx.) United Kingdom RPIX yy for Aug: Prior 1.9%
0600 (approx.) United Kingdom RPI Index for Aug: Prior 294.2
0600 (approx.) United Kingdom CPI NSA for Aug: Prior 109.1
0600 (approx.) United Kingdom PPI Input Prices mm NSA for Aug: Expected 0.3%; Prior 1.8%
0600 (approx.) United Kingdom PPI Input Prices yy NSA for Aug: Expected -4.9%; Prior -5.7%
0600 (approx.) United Kingdom PPI Output Prices mm NSA for Aug: Expected 0.2%; Prior 0.3%
0600 (approx.) United Kingdom PPI Output Prices yy NSA for Aug: Expected -0.7%; Prior -0.9%
0600 (approx.) United Kingdom PPI Core Output mm NSA for Aug: Expected 0.1%; Prior -0.1%
0600 (approx.) United Kingdom PPI Core Output yy NSA for Aug: Expected 0.0%; Prior 0.1%
0900 Euro Zone Eurostat Trade NSA for Jul: Prior 21.2 bln EUR
0900 (approx.) Euro Zone Total Trade Balance SA for Jul: Prior 17.10 bln EUR