The
Asian/Pacificmarkets closed mostly up. Japan, Hong
Kong, South Korea and Taiwan posted solid gains.
Europe, Africa and the Middle Eastare currently
doing well. Poland, France, Germany, Spain, the Netherlands, Italy,
Austria and Saudi Arabia are up; Turkey, South Africa and the Czech
Republic are down. Futures in the
Statespoint towards a slight negative open for the
cash market.
The dollar is up. Oil and copper are down. Gold and silver
are down. Bonds are down.
Stories/News from Seeking Alpha...
Debt ceiling optimism
Stocks are looking to extend gains today following the
risk-on move in the previous session. "We didn’t actually get much
in the way of concrete developments, but negotiations [on the debt
limit] are continuing, and the mood was lifted by the fact that all
the major players reiterated they want to avoid a default,"
Deutsche Bank's Jim Reid wrote in a note. Elsewhere, the equity
team at Jefferies updated its Franchise Picks list: the Buy-rated
stocks where its analysts have the most conviction. Amgen (AMGN),
Lowe’s (LOW) and Exact Sciences (EXAS) are new entrants in the list
of 21 picks, which include price targets and how they’ve done
against the S&P 500 (SP500) since their selection. (185
comments)
Fraudulent data
On the economic front, weekly jobless claims numbers will hit
before the opening bell. The consensus is for a drop to 254K, but
there are big concerns about the reliability of the numbers given a
large amount of local fraud. National claims for first-time
unemployment benefits rose above 260K last week, rising steadily
after coming in below 200K for the last three weeks of March.
Today's consensus is for a drop to 254K, but things are looking
shady with bogus figures out of Massachusetts causing total weekly
claims to be possibly overstated by as much as 20K. (8 comments)
Today's Economic Calendar 8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
10:00 Existing Home Sales
10:00 E-Commerce Retail Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
What else is happening...
Analysts advise that Target (TGT) earnings were better than
feared.
Theranos (THERA) founder Elizabeth Holmes prepares for prison
sentence.
Pre market Thursday
Posted by matt on 18th of May 2023 at 09:22 am
Good morning. Happy Thursday.
The Asian/Pacificmarkets closed mostly up. Japan, Hong Kong, South Korea and Taiwan posted solid gains. Europe, Africa and the Middle Eastare currently doing well. Poland, France, Germany, Spain, the Netherlands, Italy, Austria and Saudi Arabia are up; Turkey, South Africa and the Czech Republic are down. Futures in the Statespoint towards a slight negative open for the cash market.
The dollar is up. Oil and copper are down. Gold and silver are down. Bonds are down.
Stories/News from Seeking Alpha...
Debt ceiling optimism
Stocks are looking to extend gains today following the risk-on move in the previous session. "We didn’t actually get much in the way of concrete developments, but negotiations [on the debt limit] are continuing, and the mood was lifted by the fact that all the major players reiterated they want to avoid a default," Deutsche Bank's Jim Reid wrote in a note. Elsewhere, the equity team at Jefferies updated its Franchise Picks list: the Buy-rated stocks where its analysts have the most conviction. Amgen (AMGN), Lowe’s (LOW) and Exact Sciences (EXAS) are new entrants in the list of 21 picks, which include price targets and how they’ve done against the S&P 500 (SP500) since their selection. (185 comments)
Fraudulent data
On the economic front, weekly jobless claims numbers will hit before the opening bell. The consensus is for a drop to 254K, but there are big concerns about the reliability of the numbers given a large amount of local fraud. National claims for first-time unemployment benefits rose above 260K last week, rising steadily after coming in below 200K for the last three weeks of March. Today's consensus is for a drop to 254K, but things are looking shady with bogus figures out of Massachusetts causing total weekly claims to be possibly overstated by as much as 20K. (8 comments)
Today's Economic Calendar
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
10:00 Existing Home Sales
10:00 E-Commerce Retail Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
What else is happening...
Analysts advise that Target (TGT) earnings were better than feared.
Theranos (THERA) founder Elizabeth Holmes prepares for prison sentence.
Cisco (CSCO) slips despite strong Q3 results, guidance boost.
Report: PayPal (PYPL) is looking for buyers for Xoom.
Amazon Web Services (AMZN) details mega investment in India.
Copper producers watch as Chilean lawmakers pass mining royalty reform.
Under downward pressure, Charles Schwab (SCHW) taps credit markets.
Regional bank stocks buck the trend after positive deposit update.
This movie studio could become the next activist target.
Big jump for Take-Two (TTWO) after easy quarterly bookings beat.
M&A? Snowflake (SNOW) may be looking to acquire search startup Neeva
Thanks for the up date.
Posted by srusso1 on 18th of May 2023 at 09:31 am
Thanks for the up date.