It is just as chilly and drizzly at the fairs as it is outside.
The AEX indication is -0.4% after a meaningless session on Wall Street Friday and no breaking news this weekend. We are going to peak Q1 earnings season this week and after this week we are really only left with Apple and Nvidia as leading names that have yet to come through with their results.
You can read our preview of this week and especially all those figures here and now first the opening. It remains to be seen whether, how and when the broad market will choose a direction. For example, the AEX has been moving up and around 760 for weeks and it does not yet know whether it should price in a recession, look beyond it, or whether it will not happen.
- European futures 0.2% to 0.5% lager
- The US also costs 0.4% less
- In Asia you will mainly find lower prices and indices with Hong Kong as the outlier: Hang Seng -1.4% and Hang Seng Tech Index but -1,1%
Alibaba -1.8%
Tencent -2,9%
TSMC -0,8%
- The volatility (CBOE VIX Index) is -2.3% at 16.8 and the BofA MOVE Index (bonds) is +0.2% at 120.8
- The dollar is up 0.1% to 1.0978
- Gold is now doing -0.1%, oil is down more than one percent and crypto is up more than one percent after a bad week
Interest rates tend to be slightly lower:
Grow! Philips’ Q1 figures are much better than expected. However, there is a huge loss because the group is taking accelerated provisions in connection with.
Basic-Fit reports much more turnover in its Q1 update, 68 new clubs, more members, less outflow, especially higher turnover per premium member and maintains the outlook.
TKH also performed much better than expected in Q1, but as reported, the company is struggling with Smart Manufacturing. The company is cautious about its outlook, which will be updated next quarter.
In the macro agenda, the German Ifo Gescháftsklima stands out and don’t ask why in a few days the market will pay attention to the purchasing managers index Chicago Purchasing Managers Index (MPJ), but not today to the Chicago Fed Index. The track record may not be of interest to the market.
Finally, after some fives and sixes, the illustrious Bed Bath & Beyond files for Chapter 11, or bankruptcy. End of a legendary share with a huge price spectacle at the end. The chart speaks for itself… Turnover and profit have completely imploded in recent years.
Don’t confuse Bed Bath & Beyond’s ticker BBBY with BYND, which is again from Beyond Meat. Looks a bit like… Gee, how hip and hot was this fund when it debuted.
News, advice, shorts and agenda
The most important ABM Financial news since the Amsterdam closing yesterday.
- 08:14 Stock market look: Philips results generally better than expected
- 08:00 Solid growth for TKH
- 07:45 Basic-Fit sees turnover rise sharply
- 07:25 Vopak places debts in America
- 07:23 Philips exceeds sales expectations, but loss increases sharply
- 06:58 European stock markets are expected to open mixed
- 06:53 Exhibition agenda: Dutch companies
- 06:52 Stock market agenda: foreign funds
- 06:51 Stock market agenda: macroeconomic
- Apr 23 Bed Bath & Beyond files for Chapter 11
- 23 Apr Busy earnings week ahead
- 23 Apr ‘ING sues China’s largest bank’
- 23 Apr Currency: yuan still far from a serious competitor for dollar
- 08:14 Stock market look: Philips results generally better than expected
- 08:00 Solid growth for TKH
- 07:45 Basic-Fit sees turnover rise sharply
- 07:25 Vopak places debts in America
- 07:23 Philips exceeds sales expectations, but loss increases sharply
- 06:58 European stock markets are expected to open mixed
- 06:53 Exhibition agenda: Dutch companies
- 06:52 Stock market agenda: foreign funds
- 06:51 Stock market agenda: macroeconomic
- Apr 23 Bed Bath & Beyond files for Chapter 11
- 23 Apr Busy earnings week ahead
- 23 Apr ‘ING sues China’s largest bank’
- 23 Apr Currency: yuan still far from a serious competitor for dollar
The AFM reports this shorts:
Indeed, ASMI:
From agenda:
07:00 Philips – Figures first quarter
07:30 TKH Group – Figures first quarter
09:00 Heineken – Ex-dividend
09:00 Vastned – Ex-dividend
00:00 Basic-Fit – Figures first quarter and annual meeting
00:00 ING – Annual meeting
13:00 Coca-Cola – Figures first quarter (US)
00:00 Prices existing owner-occupied homes – March (NL)
10:00 Ifo Business Confidence – April (Ger)
2:30 PM Chicago Fed Activity Index – March (US)
And then this
We have mega numbers week ahead:
From a new leader taking the stage at the Bank of Japan to Europe’s big lenders due to report earnings, these are the big business and finance stories to watch out for in the week ahead. More here: pic.twitter.com/YlmVsBXXrB
— Reuters Business (@ReutersBiz) April 22, 2023
Cuckoo, said the Swiss cuckoo clock:
Credit Suisse saw $68 billion in first-quarter outflows as it crumbled pic.twitter.com/x9ohuT4jWb
— Reuters Business (@ReutersBiz) April 24, 2023
Ah, woe & the rest:
Home-goods retailer Bed Bath & Beyond filed for Chapter 11 bankruptcy protection after it failed to secure funds to stay afloat pic.twitter.com/YZmIu77mNl
— Reuters Business (@ReutersBiz) April 24, 2023
Recession or not, the question remains:
The Fed is sure that the US economy can avoid a recession despite the burden of higher interest rates. Hedge funds seem to agree, boosting their net shorts on 10-year Treasury futures to a record.
— Bloomberg Markets (@markets) April 24, 2023
Defensive is also close to peaks, cyclical then?
Wall Street traders are ignoring warning signs that the tech rally looks overblown
— Bloomberg Markets (@markets) April 23, 2023
Have fun and good luck today.
2023-04-24 06:24:26
#Cold #drizzly #stock #market #figures #bad #IEX.nl
