US STOCKS: Late Equities Roundup: Best Levels Since Mid-November
Dec-03 19:37
- Stocks continue to plow higher Wednesday, recovering from early session lows after Microsoft denied a write-up from "The Information" they had lowered "AI software sales quotas". Pretty specific, nevertheless, while market concerns over stretched AI-tied valuations are on full display.
- The Information wrote: "Executives at Microsoft and other enterprise software firms heralded 2025 as the year artificial intelligence would be capable of automating tasks that involve multiple steps, such as generating dashboards based on company sales data. But as the year comes to a close, Microsoft has lowered expectations for how quickly it can get customers to spend money on these newer products, known as agents. Multiple Microsoft divisions, for instance, have lowered how much salespeople are supposed to grow".
- Currently, the DJIA trades up 450.77 points (0.95%) at 47925.84, S&P E-Mini Futures up 27 points (0.39%) at 6867.25, Nasdaq up 57.8 points (0.2%) at 23471.29.
- Information Technology and Utilities sector shares led declines in late trade:
- While chip makers traded strong ahead midday (Microchip Technology +9.75%, ON Semiconductor +8.65%, NXP Semiconductors +5.34% and Cadence Design Systems +4.22%), there was a greater breadth of software laggers: Sandisk Corp -8.28%, Seagate Technology -4.97%, Western Digital -3.25%, Micron Technology -2.89% and Microsoft -1.70%..
- Meanwhile, Southern Co -1.64%, Exelon Corp -1.39%, PPL Corp -1.38%, PG&E -1.01% and Duke Energy -1.00% continued to weigh on the Utilities sector.
- On the positive side, Energy and Financial Services sector shares led advances in the first half:
- APA Corp +4.79%, EQT Corp +4.30%, Expand Energy +3.83% and Targa Resources +3.01%
- Robinhood Markets +5.40%, Fiserv Inc +4.38%, Coinbase Global +4.16%, Blackrock +3.43% and Citigroup +3.17%.
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US STOCKS: Late Equities Roundup: Tech Heavy Nasdaq Still Outperforms
Nov-03 19:35
- Stocks remain mixed late Monday, inside session ranges while the tech-heavy Nasdaq still outperforms. Currently, the DJIA trades down 243.74 points (-0.51%) at 47327.76, S&P E-Minis down 2.75 points (-0.04%) at 6873 Nasdaq up 98.6 points (0.4%) at 23829.47.
- Consumer Discretionary and Information Technology sector shares continued to lead advances in the second half, Amazon.com +4.58%, Tesla +2.07% and Wynn Resorts +4.82% led the former, while IT supported by: Western Digital +5.75%, Micron Technology +5.28%, Seagate Technology +4.55%, Palantir Technologies +3.28% and NVIDIA +3.22%.
- Conversely, a mix of Consumer Staples, Materials and Financials sector shares led declines in late trade:
- Kimberly-Clark -14.25%, Hershey Co -4.26%, Estee Lauder -2.66%, Colgate-Palmolive -2.19% and Kraft Heinz -2.16%.
- International Paper -4.58%, PPG Industries -2.58%, Albemarle -2.52%, Dow -2.45% and Eastman Chemical -2.15%
- Coinbase Global -4.07%, Arthur J Gallagher -2.25%, Fiserv -2.16%, Brown & Brown -2.06% and Erie Indemnity -1.99%
- Earnings expected after the close include: Qorvo Inc, Clorox, Navitas Semiconductor, Hims & Hers Health Inc, Palantir Technologies, Solaris Energy Infrastructer, Williams Cos, Vertex Pharmaceuticals and Comstock Resources.
USDJPY TECHS: Trend Needle Points North
Nov-03 19:30
- RES 4: 155.89 High Feb 3
- RES 3: 155.53 2.00% retracement of the Jan 10 - Apr 22 bear leg
- RES 2: 154.80 High Feb 12
- RES 1: 154.45 High Oct 30
- PRICE: 154.15 @ 16:27 GMT Nov 3
- SUP 1: 153.27 High Oct 10
- SUP 2: 151.83 20-day EMA
- SUP 3: 150.12 50-day EMA
- SUP 4: 149.05 Low Oct 6 and a gap high on the daily chart
Bullish conditions in USDJPY remain intact and the pair is holding on to last week’s gains. The break higher confirms a resumption of the uptrend and note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend.Sights are on 154.80, the Feb 12 high. First important support to watch lies at 151.83, the 20-day EMA. A pullback would be considered corrective.
OPTIONS: Active Session In Sonia Includes Bull Flattener
Nov-03 19:04
Monday's Europe rates/bond options flow included:
- 0RH6 97.87/97.75/97.68/97.56p condor, bought for 2.5 in 4k
- SFIX5 96.20/96.15ps, sold at 1.25 in 3k
- SFIZ5 96.35/96.45cs, bought for 1.25 in 2k
- SFIZ5 96.35/96.50cs vs 0NZ5 96.70/96.90cs, bought the mid for 4.25 in 10k
- SFIH6 96.60c vs SFIM6 96.70c, bough the June for 5 in 4k
- +5k 0NZ5 96.70/96.90 cs vs -5k SFIZ5 96.35/96.50 cs, pays 3.75 to Buy the 0NZ5 cs (bull flattener)
Trending Top
Jan-30 21:43
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