Sat, 22nd July 2017

Anirudh Sethi Report


Archives of “US Market” Category

Overnight US Market :Dow closed -32 points.

Nasdaq string broken at 10 days

The Nasdaq string of higher closed was broken at 10 days.  The index fell today by a modest -0.04%. The S&P and Dow were also marginally lower today.
More specifically:
  • The S&P is ending down -0.91 points or -0.04%. Yesterday the index also declined by a small amount (-0.02%). The closing value is 2472.54.  The index managed to close above a topside trend line at 2470.51  after being below it for most of the trading day (the low reached 2465.06).
  • The Nasdaq string was broken but the index was only lower by -2.25 points or -0.04% at 6387.75.  The low reached 6365.11 today. The high is near the close at 6388.77.
  • The Dow fell by -31.71 points, down -0.15% to 21580.07.
For the week, the Nasdaq led the charge higher. The Dow ended lower.
  • The Nasdaq rose by 1.19%
  • The S&P rose by 0.54%
  • The Dow fell by -0.27%

Overnight US Market :Dow Closed -29 points

S&P small loss. Dow down a bit

The Nasdaq close up for the 10th day in a row.  It is a new record as well, but the gain was only +0.08% on the day.
The S&P could not close in the black today and therefore did not make new record highs.  The loss was only minimal  The index fell by -0.38 points ore -0.02% on the day.
The Dow was in the red for most of the day.  It ended the day, down -28.97 points or -0.13% on the day.
Visa earnings after the close beat.
Microsoft also beat at 24.7B rev vs 24.27B and EPS $0.98 vs $0.71.  The stock is up 1.54% in after close trading (BTW it was a record close for the stock)

Overnight US Market :Dow Closed + 66 points.S&P 500 +13 points.

The Dow Jones Industrial Average rose 66.02 points, or 0.31 percent, to 21,640.75, the S&P 500 gained 13.22 points, or 0.54 percent, to 2,473.83 and the Nasdaq Composite added 40.74 points, or 0.64 percent, to 6,385.04.

The Dow, S&P, Nasdaq and the small-cap Russell 2000 indexes all set record closing highs.

Analysts estimate an 8.7 percent rise in second-quarter earnings and a 4.6 percent increase in revenue for the S&P 500 companies from a year earlier, according to Thomson Reuters I/B/E/S.

Morgan Stanley rose 3.3 percent to $46.62 after the Wall Street bank reported better-than-expected profit and bond trading revenue declines that were modest compared with arch-rival Goldman Sachs’. The KBW bank index fell 0.4 percent.

China holdings of US Treasuries climb to $1.1 Trillion

China’s holdings of US Treasuries climbed to the highest level since the country ceded its status as America’s largest creditor nation to Japan last year.

China’s ownership of US government bills, notes and bonds rose by $10bn from a month prior to $1.1tn in May, according to new figures released by the Treasury Department in Washington on Tuesday. The figure nonetheless remains more than $140bn below year ago levels.

The rise helped close the gap with Japan as the largest US creditor to $9.1bn, its lowest since September 2016. Japan’s holdings of Treasuries increased by $4.4bn from a month earlier to $1.11tn.

The country’s reserves have been closely scrutinised after the renminbi weakened last year. China has worked to curtail capital outflows and along with a drop in the US dollar, the renminbi touched an eight-month high on Monday.

Overnight US Market :DOW Closed -55 points.Nasdaq up 30 points.

S&P up marginally but still a record close

Today, the Nasdaq joins the S&P at record closing levels.
The Nasdaq has been playing catch up over the last 8 trading days (eight straight up days) and in the process has been able to move to a new record high, taking out the June 8th high close of 6321.76. Today’s close comes in at 6344.30, up 29.874 points or +0.47%.
The S&P inched up by 1.47 points or 0.06%. That was good enough to move above the July 14 high at 2459.27. The index closed at 2460.61 today.
The Dow was the dog today as it fell -54.99 points or -0.25% to 21574.73.  The high close was on July 14th at 21637.74.
IBM earnings are out and their EPS beat at $2.97 vs $2.74 but the revenues are a miss – $19.29B vs 19.46B estimate.

Overnight US Market :DOW Closed -8 points.

No record closes for the Dow and S&P. Nasdaq squeaks out the 7th straight increase.

The US major stock indices are ending the day with small changes.
  • S&P is ending down -0.13 points or -0.01% to 2459.14.  A fractional gain would have been a new record high close. That was not to be.
  • The Dow ended down -8.02 points or -0.04%. Like the S&P, any gain would have been a new record close. That was not meant to be.
  • The Nasdaq was the only major index to close in the black. It rose by 1.964 points or +0.03% to 6314.43.
Overall, little changes across the board as the week got started.
After the close Netflix reported earnings. There stock is trading higher on strong guidance.
  • Shares up $13 or +8% to $175.00
  • EPS $0.15 vs $0.16 est
  • Revenues $2.79B vs $2.76B
  • Net user growth adds 5.2M (1.07M domestic, 4.14M international) vs 3.23M estimate.
  • Q3 guidance $0.32 vs $0.23 estimate. Rev guidance 2.97B vs 2.87B est.  Proj net adds of 4.4M vs 3.925M estimate.

Overnight US Market : S&P and Dow close at record highs. Nasdaq up for the 6th straight day

Best week of the year for the Nasdaq

The US major stock indices are ending the day with records.
  • The S&P index and Dow are both ending at record closing levels
  • The Nasdaq had the best week of the year
More specifically:
  • The S&P rose by 11.44 points or 0.47% to 2459.27. The high reached 2463.54. The low 2446.69
  • The Nasdaq closed up 38.028 points or +0.61% to 6312.46. The high reached 6321.76. The low reached 6278.70
  • The Dow closed up 84.65 points to 21637.74. The high reached 21681.53. The low 21521.72
For the week:
  • The S&P rose 1.41%.
  • The Nasdaq rose 2.59%
  • The Dow rose 1.04%
Not a bad week for the US equity markets.

Overnight US Market : Dow at another record high. Nasdaq biggest gainer.

Modest gains. S&P up 0.19%. Nasdaq up 0.21%.

The US major indices are closing higher on the day.
  • The Dow hits another record close.
  • The S&P and Nasdaq are still below their highs.
  • The Nasdaq high close is 6321.76. The close today is 6274.438.
  • The S&P high close is 2453.46.  It closed today at 2447.83
  • The S&P today rose by 4.58 points or +0.19% to 2447.83
  • The Nasdaq rose by 13.267 points or +0.21% to 6274.438
  • The Dow rose 20.95 point or +0.10% to 21553.09
Today, the stock market will get JPMorgan/Chase, Citigroup, and Wells Fargo earnings before the opening. They should have an early impact on the market as earning season starts up.

Analysts’ Expectations (EPS Vs. Year-Ago/Revenue Vs. Year-Ago)

  • Citigroup: $1.21 ($1.24)/$17.37 billion ($17.55 billion).
  • JPMorgan: $1.59 ($1.55)/$25.02 billion ($25.21 billion).
  • Wells Fargo: $1.01 ($1.01)/ $22.47 billion ($22.61 billion).

Overnight US Market :Nasdaq Rises , but S&P and Dow end little changed

Nasdaq ends the day up 0.27%

The major US indices saw the Nasdaq stocks rising but the S&P and Dow, little changed.
  • The Nasdaq is closing up 0.27% or 16.912 points to 6193.
  • The S&P is closing down -1.9% points or -0.08%
  • The Dow is closing up a tiny 0.55 points. That is not even worthy of a 0.01% gain. It ends up unchanged.
In the US debt market today, yields were lower:
  • 2 year 1.3711, -1.12 bp
  • 5 year 1.912%, -1.9 bp
  • 10 year 2.3569%, -1.6 bp
  • 30 year 2.918%, -0.8 bp

Overnight US Market :Dow closed -0.03%

S&P ends up 0.09% . Nasdaq climbs  0.38%. The Dow was down -0.03%

The major indices are ending the session mixed to start the week, but some of the gains were taken back into the close
  • The S&P is ending up 2.25 points or 0.10% at 2427.43. The high reached 2432.00. The low 2422.27
  • The Nasdaq is ending up 23.316 points or 0.38% to 6176.3982.  The high reached 6191.27. The low 6141.82