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Over the past two decades, the cost of gene sequencing has plummeted, turning genomics into a cutting-edge field with enormous potential. Thanks to substantial investments and waves of research funding, the industry is making significant strides in understanding and treating a range of genetic disorders and complex diseases.
In this rapidly evolving landscape, fundamentally sound companies like Regeneron Pharmaceuticals, Inc. , Alnylam Pharmaceuticals, Inc. , and Illumina, Inc. are at the forefront of transforming healthcare.
Genomics is not just about unlocking the secrets of DNA; it’s about applying that knowledge to real-world medical treatments. By understanding the unique genetic code of individuals, doctors can now offer more precise diagnostics and personalized treatments for conditions that range from common cancers to rare genetic disorders. It’s an approach that brings us closer to an era of truly personalized medicine, where your DNA guides your healthcare plan.
Sales of next-generation genomic medicines are expected to hit $84 billion by 2028, driven by successful clinical trials and the growing need for new treatments. Moreover, the global genomics market is projected to grow from $39.53 billion in 2024 to $157.47 billion by 2033 at a CAGR of 16.6%.
Given these encouraging trends, let’s look at the fundamentals of the top Biotech stocks, beginning with the third choice.
Stock #3: Alnylam Pharmaceuticals, Inc. (ALNY)
ALNY focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. The company’s pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system (CNS)/ocular diseases.
On April 30, 2024, ALNY and Medison Pharma, a global pharma company focused on providing access to highly innovative therapies for patients in international markets, announced a further expansion of their existing partnership in Central & Eastern Europe and Israel also to include selected markets in LATAM and APAC and additional international markets.
This partnership is expected to ensure that ALNY’s commercial therapies are available across multiple international markets, thus enhancing their income streams.
ALNY’s trailing-12-month gross profit and EBIT margins of 87% and 4.38% are 50.5% and 64.7% higher than their respective industry averages of 57.81% and 2.66%. Also, its trailing-12-month levered FCF margin of 18.10% compares to the industry average of 1.60%.
During the fiscal second quarter that ended June 30, 2024, ALNY’s net product revenues increased 34.1% year-over-year to $410.09 million. Its non-GAAP operating income came in at $137.90 million versus a year-ago operating loss of $154.03 million. Also, the company’s non-GAAP net income amounted to $73.77 million or $0.56 per share, compared to a loss of $201.62 million or $1.62 per share recorded last year.
Analysts predict ALNY’s revenue for the current year (ending December 2024) to increase 20.5% year-over-year to $2.20 billion. Further, its revenues are expected to register a 13.2% growth from the prior year, settling at $2.49 billion. It is no surprise that the company has topped the consensus revenue estimates in three of the trailing four quarters.
Over the past six months, ALNY’s stock has surged 85.3% to close the last trading session at $273.15.
ALNY’s bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has an A grade for Sentiment and a B for Quality. ALNY is ranked #28 among 335 stocks in the Biotech industry. Click here to access additional ALNY ratings (Growth, Value, Momentum, and Stability).
Stock #2: Illumina, Inc. (ILMN)
ILMN develops, manufactures, and markets life science tools and integrated systems for large-scale genetic variation and function analysis. It operates through the Core Illumina and GRAIL segments. It provides sequencing and array-based instruments and consumables, whole-genome sequencing, genotyping, NIPT, and product support services.
On July 9, the company acquired Fluent BioSciences, a company known for its advanced single-cell technology. This acquisition strengthens ILMN’s multiomics growth strategy by offering its customers advanced capabilities in single-cell research and enabling them to provide more comprehensive solutions to their customers.
ILMN’s trailing-12-month EBIT margin of 4.63% is 80% higher than the industry average of 2.57%. Likewise, its 14.34% trailing-12-month EBITDA margin is 132.7% above the industry average of 6.16%. Also, its trailing-12-month levered FCF margin of 19.39% compares to the industry average of 1.61%.
In the second quarter that ended June 30, 2024, ILMN reported a total revenue of $1.11 billion with a gross margin of 64.8%. Its non-GAAP operating profit rose 2.4% from the year-ago value to $84 million. The company’s non-GAAP net income and EPS came in at $57 million and $0.36, up 14% and 12.5% year-over-year, respectively.
Street expects ILMN’s EPS for the fiscal third quarter (ending September 2024) to increase 164.7% year-over-year to $0.87, while its revenue is forecasted to be $1.08 billion. Moreover, it surpassed the consensus revenue estimates in three of the trailing four quarters, which is impressive.
The stock has gained 21.2% over the past three months to close the last trading session at $130.97.
ILMN’s POWR Ratings reflect this promising outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
It also has a B grade for Growth, Sentiment, and Quality. Within the same industry, it is ranked #24. To see the other ILMN ratings for Value, Momentum, and Stability, click here.
Stock #1: Regeneron Pharmaceuticals, Inc. (REGN)
REGN discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases. Its product portfolio includes EYLEA, Dupixent, Libtayo, Praluent, REGEN-COV, Kevzara solution, and ARCALYST, among other injections.
On September 13, the U.S. Food and Drug Administration (FDA) approved the use of Dupixent® (dupilumab) as an add-on maintenance treatment for adolescent patients aged 12 to 17 years with inadequately controlled chronic rhinosinusitis with nasal polyps (CRSwNP). This approval expands the initial June 2019 FDA approval in CRSwNP for patients aged 18 years and older.
The stock’s trailing-12-month EBITDA and levered FCF margins of 33.50% and 15.50% are considerably higher than the industry averages of 6.16% and 1.61%, respectively. Similarly, its trailing-12-month EBIT margin of 30.14% compares to the industry average of 2.57%.
REGN’s net revenues for the second quarter (ended June 2024) increased 12% year-over-year to $3.55 billion. Its non-GAAP net income grew 14.3% from the year-ago value to $1.35 billion, while its income from operations stood at $1.07 billion, up 5.2% year-over-year. The company’s non-GAAP net income per share came in at $11.56, representing a 12.9% year-over-year growth.
The consensus revenue estimate of $3.66 billion for the fiscal third quarter (ending September 2024) represents an 8.7% improvement year-over-year. The consensus EPS estimate of $11.76 for the ongoing quarter represents a 1.5% increase from the same period last year. The company has a promising earnings surprise history, as it surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of REGN have gained 38.1% over the past year and 29.7% year-to-date.
It is no surprise that REGN has an overall rating of A, equating to a Strong Buy in our POWR Ratings system. It has a B grade for Value and Quality. Out of 335 stocks in the same industry, it is ranked #8.
In addition to the POWR Rating grades I’ve just highlighted, you can see REGN’s Growth, Momentum, Stability, and Sentiment ratings here.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today’s volatile markets:
3 Stocks to DOUBLE This Year >
REGN shares were unchanged in premarket trading Thursday. Year-to-date, REGN has gained 29.66%, versus a 18.86% rise in the benchmark S&P 500 index during the same period.
The S&P 500 Index Friday closed up +1.01%, the Dow Jones Industrials Index closed up +0.55%, and the Nasdaq 100 Index closed up +1.29%.
Stocks on Friday settled moderately higher, with the Dow Jones Industrials posting a new all-time high. Positive corporate and economic news Friday boosted stocks. Intel closed up more than +9% after Bloomberg News reported that the company is discussing various scenarios, including a split of its product design and manufacturing businesses. Also, Marvell Technology rose more than +9% after reporting stronger-than-expected Q2 net revenue and forecasting Q3 net revenue above consensus. In addition, MongoDB closed up more than +18% after reporting Q2 adjusted EPS well above consensus and raising its 2025 adjusted EPS forecast.
Stocks also found support Friday from the favorable US July core PCE price index and July personal spending reports. The reports suggest the Fed has so far been able to tame price pressures without causing too much pain to consumers, thus boosting the prospects for a soft landing. The Fed-friendly PCE report also reinforced expectations the Fed will cut interest rates at the Sep 17-18 FOMC meeting.
On the negative side for stocks Friday were higher bond yields when the mostly better-than-expected US economic reports reinforced the outlook for a less aggressive pace of Fed interest rate cuts. Also, weakness in energy stocks on Friday weighed on the broader market after crude prices fell more than -3%.
US July personal spending rose +0.5% m/m, right on expectations. July personal income rose +0.3% m/m, slightly stronger than expectations of +0.2% m/m.
The US July core PCE price index, the Fed's preferred inflation gauge, remained unchanged from June at +2.6% y/y, better than expectations of an increase to +2.7% y/y.
The US Aug MNI Chicago PMI unexpectedly rose ++0.8 to 46.1, stronger than expectations of a decline to 44.8.
The University of Michigan US Aug consumer sentiment index was revised upward by +0.1 to 67.9, weaker than expectations of 68.1.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 31% for a -50 bp rate cut at that meeting.
Overseas stock markets on Friday settled mixed. The Euro Stoxx 50 fell back from a 1-1/2 month high and closed down -0174%. China's Shanghai Composite rose to a 1-1/2 week high low and closed up +0.68%. Japan's Nikkei Stock 225 climbed to a 4-week high and closed up +0.74%.
Interest Rates
September 10-year T-notes (ZNU24) Friday closed down -8.5 ticks. The 10-year T-note yield rose +4.9 bp to 3.911%. Sep T-notes were under pressure Friday as a rally in stocks curbed safe-haven demand for government debt. T-notes extended their losses after Friday’s mostly better-than-expected US economic reports dampened hopes that the Fed will cut rates by 50 bp in September. Month-end buying of T-notes by bond fund managers supported T-note prices as bond fund managers extended the duration of their portfolios and bought longer-term debt. Also, Friday’s -3% fall in crude oil prices reduced inflation expectations and supported T-notes.
European government bond yields Friday were mixed. The 10-year German bund yield rose +2.4 bp to 2.299%. The 10-year UK gilt yield fell -0.4 bp to 4.015%.
The Eurozone Aug CPI eased to 2.2% y/y from 2.6% y/y, right on expectations and the smallest increase in 3 years. Also, Aug core CPI eased to 2.8% y/y from 2.9% y/y in July, right on expectations.
The Eurozone July unemployment rate unexpectedly fell -0.1 to a record low 6.4%, showing a stronger labor market than expectations of no change at 6.5%.
ECB Executive Board member Schnabel said the ECB shouldn't lower interest rates too quickly as risks to inflation's return to 2% persist.
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 100% for the September 12 meeting.
US Stock Movers
Intel closed up more than +9% to lead gainers in the S&P 500 and Dow Jones Industrials after Bloomberg News reported the company is discussing various scenarios, including a split of its product design and manufacturing businesses.
Energy producers and energy service providers were under pressure Friday as the price of WTI crude oil fell more than -3%. As a result, APA Corp closed down more than -2%. Also, Diamondback Energy , Haliburton , Schlumberger , ConocoPhillips , Devon Energy , Marathon Oil , Baker Hughes , and Occidental Petroleum closed down more than -0.40%.
MongoDB closed up more than +18% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of 70 cents, well above the consensus of 49 cents, and raising its 2025 adjusted EPS forecast to $2.33-$2.47 from a previous forecast of $2.15-$2.30, stronger than the consensus of $2.33.
Marvell Technology closed up more than +9% after reporting Q2 net revenue of $1.27 billion, better than the consensus of $1.25 billion, and forecasting Q3 net revenue of $1.45 billion-$1.46 billion, stronger than the consensus of $1.40 billion.
Dell Technologies closed up more than +4% after reporting Q2 adjusted EPS of $1.89, above the consensus of $1.71.
GE Vernova closed up more than +5% after William O’Neill initiated coverage on the stock with a buy recommendation.
Sherwin-Willams closed up more than +2% after UBS raised its price target on the stock to $412 from $375.
Crowdstrike Holdings closed up more than +2% after HSBC upgraded the stock to buy from hold with a price target of $339.
Ulta Beauty closed down more than -4% to lead losers in the S&P 500 after reporting Q2 net sales of $2.55 billion, below the consensus of $2.61 billion, and cutting its 2025 net sales forecast to $11.0 billion-$11.2 billion from a previous forecast of $11.5 billion-$11.6 billion, weaker than the consensus of $11.51 billion.
Dollar General closed down more than -1% after Morgan Stanley downgraded the stock to equal weight from overweight.
DaVita closed down more than -1% on signs of insider selling after an SEC filing showed CFO and Treasurer Ackerman sold $10.7 million of shares Tuesday and Wednesday.
Elastic NV closed down more than -26% after cutting its full-year revenue forecast to $1.44 billion from a previous forecast of $147 billion-$1.48 billion, below the consensus of $1.48 billion.
Alnylam Pharmaceuticals closed down more than -8% on disappointment that data from a trial of its drug Amvuttra to treat heart disease failed to improve conditions better than existing drugs.
Earnings Reports (9/3/2024)
Asana Inc (ASAN), Gitlab Inc (GTLB), HealthEquity Inc (HQY), Lovesac Co/The (LOVE), PagerDuty Inc (PD), Zscaler Inc (ZS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
The S&P 500 Index today is up +0.13%, the Dow Jones Industrials Index is down -0.25%, and the Nasdaq 100 Index is up +0.28%.
Stocks are mixed today. Intel is up more than +8% after Bloomberg News reported that the company is discussing various scenarios, including a split of its product design and manufacturing businesses. Also, Autodesk is up more than +3% after reporting better-than-expected Q2 net revenue and boosting its full-year revenue forecast. In addition, MongoDB is up more than +15% after reporting Q2 adjusted EPS well above consensus and raising its 2025 adjusted EPS forecast.
Stocks added to their gains today on the favorable US July core PCE price index and July personal spending reports. The reports suggest the Fed has so far been able to tame price pressures without causing too much pain to consumers, thus boosting the prospects for a soft landing. The Fed-friendly PCE report also reinforced expectations the Fed will cut interest rates at the Sep 17-18 FOMC meeting.
US stocks have carryover support today from a rally in European stocks. The Euro Stoxx 50 today rose to a 1-1/2 month high on better-than-expected Eurozone economic news that showed Eurozone consumer prices eased to a 3-year low, and the Eurozone unemployment rate unexpectedly fell to a record low.
US July personal spending rose +0.5% m/m, right on expectations. July personal income rose +0.3% m/m, slightly stronger than expectations of +0.2% m/m.
The US July core PCE price index, the Fed's preferred inflation gauge, remained unchanged from June at +2.6% y/y, better than expectations of an increase to +2.7% y/y.
The US Aug MNI Chicago PMI unexpectedly rose ++0.8 to 46.1, stronger than expectations of a decline to 44.8.
The University of Michigan US Aug consumer sentiment index was revised upward by +0.1 to 67.9, weaker than expectations of 68.1.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 31% for a -50 bp rate cut at that meeting.
Overseas stock markets today are higher. The Euro Stoxx 50 climbed to a 1-1/2 month high and is up +0.04%. China's Shanghai Composite rose to a 1-1/2 week high low and closed up +0.68%. Japan's Nikkei Stock 225 climbed to a 4-week high and closed up +0.74%.
Interest Rates
September 10-year T-notes (ZNU24) today are down -1 tick. The 10-year T-note yield is up +0.2 bp at 3.863%. Sep T-notes today are slightly lower as a rally in stocks curbed safe-haven demand for government debt. Also, today’s mixed US economic reports dampened hopes that the Fed will cut rates by 50 bp in September. Month-end buying of T-notes by bond fund managers supported T-note prices as bond fund managers extended the duration of their portfolios and bought longer-term debt. Also, today’s -2% fall in crude oil prices reduced inflation expectations and supported T-notes.
European government bond yields today are mixed. The 10-year German bund yield is up +0.4 bp at 2.279%. The 10-year UK gilt yield is down -2.4 bp at 3.995%.
The Eurozone Aug CPI eased to 2.2% y/y from 2.6% y/y, right on expectations and the smallest increase in 3 years. Also, Aug core CPI eased to 2.8% y/y from 2.9% y/y in July, right on expectations.
The Eurozone July unemployment rate unexpectedly fell -0.1 to a record low 6.4%, showing a stronger labor market than expectations of no change at 6.5%.
ECB Executive Board member Schnabel said the ECB shouldn't lower interest rates too quickly as risks to inflation's return to 2% persist.
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 100% for the September 12 meeting.
US Stock Movers
Intel is up more than +9% to lead gainers in the S&P 500 and Dow Jones Industrials after Bloomberg News reported the company is discussing various scenarios, including a split of its product design and manufacturing businesses.
Energy producers and energy service providers are under pressure today, with the price of WTI crude oil down by more than -2%. As a result, APA Corp , Schlumberger , ConocoPhillips , Devon Energy , Marathon Oil , Baker Hughes , Diamondback Energy , Occidental Petroleum , and Exxon Mobil are down more than -1%.
MongoDB is up more than +15% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of 70 cents, well above the consensus of 49 cents, and raising its 2025 adjusted EPS forecast to $2.33-$2.47 from a previous forecast of $2.15-$2.30, stronger than the consensus of $2.33.
Marvell Technology is up more than +5% after reporting Q2 net revenue of $1.27 billion, better than the consensus of $1.25 billion, and forecasting Q3 net revenue of $1.45 billion-$1.46 billion, stronger than the consensus of $1.40 billion.
Autodesk is up more than +3% after reporting Q2 net revenue of $1.51 billion, better than the consensus of $1.48 billion, and boosting its full-year revenue forecast to $6.08 billion-$6.13 billion from a previous forecast of $5.99 billion-$6.09 billion, stronger than the consensus of $6.05 billion.
Crowdstrike Holdings is up more than +2% after HSBC upgraded the stock to buy from hold with a price target of $339.
Dell Technologies is up more than +2% after reporting Q2 adjusted EPS of $1.89, above the consensus of $1.71.
Ulta Beauty is down more than -2% after reporting Q2 net sales of $2.55 billion, below the consensus of $2.61 billion, and cutting its 2025 net sales forecast to $11.0 billion-$11.2 billion from a previous forecast of $11.5 billion-$11.6 billion, weaker than the consensus of $11.51 billion.
Lululemon Athletica is down more than -1% after cutting its full-year net revenue estimate to $10.38 billion-$10.48 billion from a previous estimate of $10.70 billion-$10.80 billion.
DaVita is down more than -2% on signs of insider selling after an SEC filing showed CFO and Treasurer Ackerman sold $10.7 million of shares Tuesday and Wednesday.
Elastic NV is down more than -26% after cutting its full-year revenue forecast to $1.44 billion from a previous forecast of $147 billion-$1.48 billion, below the consensus of $1.48 billion.
Alnylam Pharmaceuticals is down more than -7% on disappointment that data from a trial of its drug Amvuttra to treat heart disease failed to improve conditions better than existing drugs.
Earnings Reports (8/30/2024)
None.
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
The S&P 500 Index today is up +0.62%, the Dow Jones Industrials Index is up +0.19%, and the Nasdaq 100 Index is up +1.04%.
Stocks are moderately higher today on positive corporate and economic news. Intel is up more than +9% after Bloomberg News reported that the company is discussing various scenarios, including a split of its product design and manufacturing businesses. Also, Autodesk is up more than +3% after reporting better-than-expected Q2 net revenue and boosting its full-year revenue forecast. In addition, MongoDB is up more than +15% after reporting Q2 adjusted EPS well above consensus and raising its 2025 adjusted EPS forecast.
Stocks added to their gains today on the favorable US July core PCE price index and July personal spending reports. The reports suggest the Fed has so far been able to tame price pressures without causing too much pain to consumers, thus boosting the prospects for a soft landing. The Fed-friendly PCE report also reinforced expectations the Fed will cut interest rates at the Sep 17-18 FOMC meeting.
US stocks have carryover support today from a rally in European stocks. The Euro Stoxx 50 today rose to a 1-1/2 month high on better-than-expected Eurozone economic news that showed Eurozone consumer prices eased to a 3-year low, and the Eurozone unemployment rate unexpectedly fell to a record low.
US July personal spending rose +0.5% m/m, right on expectations. July personal income rose +0.3% m/m, slightly stronger than expectations of +0.2% m/m.
The US July core PCE price index, the Fed's preferred inflation gauge, remained unchanged from June at +2.6% y/y, better than expectations of an increase to +2.7% y/y.
The US Aug MNI Chicago PMI unexpectedly rose ++0.8 to 46.1, stronger than expectations of a decline to 44.8.
The University of Michigan US Aug consumer sentiment index was revised upward by +0.1 to 67.9, weaker than expectations of 68.1.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 31% for a -50 bp rate cut at that meeting.
Overseas stock markets today are higher. The Euro Stoxx 50 climbed to a 1-1/2 month high and is up +0.04%. China's Shanghai Composite rose to a 1-1/2 week high low and closed up +0.68%. Japan's Nikkei Stock 225 climbed to a 4-week high and closed up +0.74%.
Interest Rates
September 10-year T-notes (ZNU24) today are down -1 tick. The 10-year T-note yield is up +0.2 bp at 3.863%. Sep T-notes today are slightly lower as a rally in stocks curbed safe-haven demand for government debt. Also, today’s mixed US economic reports dampened hopes that the Fed will cut rates by 50 bp in September. Month-end buying of T-notes by bond fund managers supported T-note prices as bond fund managers extended the duration of their portfolios and bought longer-term debt. Also, today’s -2% fall in crude oil prices reduced inflation expectations and supported T-notes.
European government bond yields today are mixed. The 10-year German bund yield is up +0.4 bp at 2.279%. The 10-year UK gilt yield is down -2.4 bp at 3.995%.
The Eurozone Aug CPI eased to 2.2% y/y from 2.6% y/y, right on expectations and the smallest increase in 3 years. Also, Aug core CPI eased to 2.8% y/y from 2.9% y/y in July, right on expectations.
The Eurozone July unemployment rate unexpectedly fell -0.1 to a record low 6.4%, showing a stronger labor market than expectations of no change at 6.5%.
ECB Executive Board member Schnabel said the ECB shouldn't lower interest rates too quickly as risks to inflation's return to 2% persist.
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 100% for the September 12 meeting.
US Stock Movers
Intel is up more than +9% to lead gainers in the S&P 500 and Dow Jones Industrials after Bloomberg News reported the company is discussing various scenarios, including a split of its product design and manufacturing businesses.
Energy producers and energy service providers are under pressure today, with the price of WTI crude oil down by more than -2%. As a result, APA Corp , Schlumberger , ConocoPhillips , Devon Energy , Marathon Oil , Baker Hughes , Diamondback Energy , Occidental Petroleum , and Exxon Mobil are down more than -1%.
MongoDB is up more than +15% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of 70 cents, well above the consensus of 49 cents, and raising its 2025 adjusted EPS forecast to $2.33-$2.47 from a previous forecast of $2.15-$2.30, stronger than the consensus of $2.33.
Marvell Technology is up more than +5% after reporting Q2 net revenue of $1.27 billion, better than the consensus of $1.25 billion, and forecasting Q3 net revenue of $1.45 billion-$1.46 billion, stronger than the consensus of $1.40 billion.
Autodesk is up more than +3% after reporting Q2 net revenue of $1.51 billion, better than the consensus of $1.48 billion, and boosting its full-year revenue forecast to $6.08 billion-$6.13 billion from a previous forecast of $5.99 billion-$6.09 billion, stronger than the consensus of $6.05 billion.
Crowdstrike Holdings is up more than +2% after HSBC upgraded the stock to buy from hold with a price target of $339.
Dell Technologies is up more than +2% after reporting Q2 adjusted EPS of $1.89, above the consensus of $1.71.
Ulta Beauty is down more than -2% after reporting Q2 net sales of $2.55 billion, below the consensus of $2.61 billion, and cutting its 2025 net sales forecast to $11.0 billion-$11.2 billion from a previous forecast of $11.5 billion-$11.6 billion, weaker than the consensus of $11.51 billion.
Lululemon Athletica is down more than -1% after cutting its full-year net revenue estimate to $10.38 billion-$10.48 billion from a previous estimate of $10.70 billion-$10.80 billion.
DaVita is down more than -2% on signs of insider selling after an SEC filing showed CFO and Treasurer Ackerman sold $10.7 million of shares Tuesday and Wednesday.
Elastic NV is down more than -26% after cutting its full-year revenue forecast to $1.44 billion from a previous forecast of $147 billion-$1.48 billion, below the consensus of $1.48 billion.
Alnylam Pharmaceuticals is down more than -7% on disappointment that data from a trial of its drug Amvuttra to treat heart disease failed to improve conditions better than existing drugs.
Earnings Reports (8/30/2024)
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On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
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