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The Clown Show: trade biotechs & more
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Heading Down, but Jobs at 8:30 AM-2/3/23With about 3.75 hours to go before the Regular Session open and 2.75 to go before the release of the January Jobs Report; DOW Futures are currently pointing to an opening loss of 109.94 points; SP 500 Futures to an opening loss of 35.01 points; and NAS COMP Futures to a plung of 204.64 points. How this will change after the Jobs Report remains to be seen. The tug of war between the Bond Traders and the FED continues. Even with the FED hiking, the 180 Day T-Bill's Yield is now down to 4.72%; the 2 Year Note is priced to yield 4.09%; the 10 Year's yield is now down to 3.39%; and the 30 Year Bond is now priced to yield 3.54%. Major Asian and European Markets are mostly lower. I have not looked into the Adani Enterprises saga beyond noting Hindenburg's Short report has crushed the stock (down about 50% or 108B). Rupple effects seem to be spreading. WTI, Brent and Natural Gas are all higher. Major Metals are mixed. Cryptos are heading lower, but Bitcoin is still above 23k. Bloomberg's Commodity Index is now down to 238.93. The VIX is oddly down 0.19 to 18.54; the QQQs are tanking 5.36 to 306.36; the XBI is down 0.67 to 91.30 and the XLE is up 0.07 to 86.22. My Watch Lists are mainly a Sea of Red, with a few minor exceptions. Notable companies reporting before today's open, with earnings consensus, include Cigna (CI), consensus $4.86... Regneron (REGN), consensus $10.03... Zimmer Biomet (ZBH), consensus $1.83... Church & Dwight (CHD), consensus 60c... Saia (SAIA), consensus $2.83. Notable companies reporting after today's market close, with earnings consensus, included Apple (AAPL), consensus $1.94... Alphabet (GOOGL), consensus $1.18... Amazon (AMZN), consensus 17c... Qualcomm (QCOM), consensus $2.34... Starbucks (SBUX), consensus 77c... Gilead (GILD), consensus $1.49... Ford (F), consensus 62c... Microship (MCHP), consensus $1.55... Cognizant (CTSH), consensus $1.02... Clorox (CLX), consensus 65c... Bil.com (BILL), consensus 13c... Skechers (SKX), consensus 36c... Boyd Gaming (BYD), consensus $1.45. Missing on their EPS by hevyweight members of the NAS has caused this morning's selling. AAPL-5.17; AMZN -6.19; CRM -2.57; CRWD -3.08; GOOG -4.85; META -4.63; MSFT -3.60; NFLX -3.88; NVDA -5.31; QCOM -4.65; SNOW -5.35; SQ -2.40; AMD -2.09. TSLA is only off 1.65. BA, for its own reasons, is down 4.53. JWN is popping 5.85 to 26.99 (HOD of 29.00) after the WSJ announced that Ryan Cohen is building a sizable stake in the company. RSLS & GENE are two early runners for whatever reasons. Many of the recent movers on scant logic are giving back this AM. EDBL is doing an equity raise and is plunging 3.63 to 4.72. |
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Msg # | Subject | Author | Recs | Date Posted |
58220 | Re: Heading Down, but Jobs at 8:30 AM-2/3/23 | limegoldconvertible68 | 0 | 2/3/2023 9:02:44 AM |