US STOCKS: Midday Equities Roundup: Rising Off 1- to 2M Lows, Tech Still Weaker
Nov-21 16:56
- US stocks are firmer ahead midday Friday, the DJIA and SPX eminis off this week's 5 week lows, the Nasdaq off 10 week lows - sentiment improved after dovish comments from NY Fed Pres Williams: still sees potential for a "near term rate cut".
- Currently, the DJIA trades up 539.64 points (1.18%) at 46292.65, S&P E-Minis up 61.75 points (0.94%) at 6619.5, Nasdaq up 167.6 points (0.8%) at 22246.51.
- A mix of Materials, Health Care and Communication Services sector shares led advances late morning:
- International Paper +4.63%, LyondellBasell Industries +4.44%, Dow +4.25%, PPG Industries +3.70% and Ball Corp +3.46%.
- Cooper Cos +4.95%, Insulet Corp +4.43%, Baxter International +4.36%, Align Technology +4.36% and IDEXX Laboratories +4.06%.
- Alphabet +3.35%, Interpublic Group +3.30%, Omnicom Group +3.13%, Warner Bros Discovery +2.60% and Match Group +2.56%.
- Meanwhile, carry-over weakness noted in Information Technology sector shares: Oracle -6.26%, Seagate Technology Holdings -2.62%, Arista Networks -2.59%, Advanced Micro Devices -2.50% and Broadcom -2.38%.
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OPTIONS: No Slowdown In Rate Upside
Oct-22 16:52
Wednesday's Europe rates/bond options flow included:
- ERH6 98.12/98.25/98.50/98.62 c condor vs 98.00 puts at 3 in 8k (sold condor/ bought put)
- ERM6 98.50/98.62/98.75/98.87c condor, bought for half in 4k
- ERM6 98.25/98.4375/98.50/98.87c condor vs 97.87p, bought the condor for 1.5 in 10k
- ERZ6 98.875/99.00 call spread, paper pays 0.75 on 17k
- SFIZ5 96.25/96.40/96.50 broken c fly, bought for 4 in 9k
- SFIZ5 96.40/96.50cs, bought for 1 in 3k
- SFIF6 96.40/96.30ps 1x2, bought for 1.5 in 3k
- SFIG6 96.50/96.60/96.65/96.75c condor, bought for 1.75 in 5k
- SFIH6 96.15/96.25/96.40/96.50c condor sold down to 3.25 in 18.5k
- SFIM6 96.75/97.00/97.25c fly, bought for 3 in 4k
US TSYS/SUPPLY: Preview 20Y Bond Auction
Oct-22 16:46
Tsy futures remain modestly weaker (TYZ5 at 113-22, -2 vs. 113-19.5 low) ahead of the $13B 20Y bond auction re-open (912810UN6) at 1300ET, WI is currently at 4.522%, 9.1bp rich to last month's stop. Today's results will be available shortly after the competitive auctions closes at 1300ET.
- September auction recap: Treasury futures dipped slightly (TYZ5 113-18) after the $13B 20Y Bond auction re-open (912810UL0) reopen traded through, drawing a high yield of 4.613% vs WI yield of 4.615%; Bid-to-cover: 2.74, rebounding from a lower 2.54 in Aug after 2.79 in Jul.
- Peripheral stats: indirect take-up at 64.6% vs. 60.6% prior; direct bidder take-up 27.9% from 21.9% prior; primary dealer take-up of 7.5%.
FED: US TSY 19Y-10M BOND AUCTION: NON-COMP BIDS $66 MLN FROM $13.000 BLN TOTAL
Oct-22 16:45
- US TSY 19Y-10M BOND AUCTION: NON-COMP BIDS $66 MLN FROM $13.000 BLN TOTAL
