AEX Indication -0.3% After Wall Street’s Strong Performance and Weak Chinese Data | European Futures Open in the Red
Home » Business » AEX Indication -0.3% After Wall Street’s Strong Performance and Weak Chinese Data | European Futures Open in the Red

AEX Indication -0.3% After Wall Street’s Strong Performance and Weak Chinese Data | European Futures Open in the Red

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The AEX indication is -0.3% after an excellent Wall Street and poor Chinese data again.

Not for the first time, of course, and this time the Chinese import and export figures are (more so) poor. Furthermore, it is fairly quiet today with a fairly empty agenda, because we have no figures and elsewhere the agenda is not overflowing.

European futures open in a minor way between -0.2% and -0.8% The US are -0.3% to -0.5% In Asia, Hong Kong mainly holds Hang Seng (1.8%) and Hang Seng Tech Index (-2.6%) very bad (on those exports…?). Japan is up 0.4% and China, Korea and Taiwan are down a few tenths
Alibaba -2.3%
Tencent -1,9%
TSMC -1,1%
Samsung -1.3% The volatility (CBOE VIX index) is -7.8% at 15.8 and the BofA MOVE index (bonds) is +4.3% at 120.9 The dollar is up 0.1% to just under 1.10, or 1.0995 Gold is down -0.1%, so is oil and crypto is up a few tenths. Bitcoin is now at $29,219.63

Interest rates are already spiking at this hour, it is not easy to see why on the networks. The US has to (re)finance around $100 billion this week in this somewhat volatile market.

Cold turkey, because for the first time in weeks there are no pre-market company figures. Then the AEX (orange) and our (ten-year) interest rate. In fact, the picture has been the same since this winter: slow, upward trends in a relatively narrow range: boom, it already says +12.1% and +14.3% reinvested this year.

The problem for us is of course that we don’t all have winners in the underlying weather…

Statistics Netherlands is early in confirming the first estimate of our inflation (consumer prices) for July: 4.6% YoY, just like the first estimate a week ago. Text and explanation from CBS:

The decrease in inflation was mainly due to the price development of energy (electricity, gas and district heating). Energy prices have been falling steadily since January. In July energy was 34.5 copper than a year earlier. In June, prices were 19.1% lower than in the same month last year.

The price developments of clothing and food also had a downward effect on the development of inflation. Clothing was 5.5% more expensive in July than one year previously, in June it was 10.5%. The annual increase in food prices fell from 13.1% in June to 11.7% in July.

The broad market is mainly chewing on this last night and this morning: there are again disappointing Chinese data. And good too.

What else stands out? In the US, the classic transport company and listed Yellow is bankrupt. Well, you think, but…

This is also the case here for the high-risk day traders – or do you know a better term? – again no impediment to merrily trading the share. You only need to get in and out exactly on time and not be left behind with the pieces.

Meme shares, we’ll probably never get rid of it. Today, an illustrious copy has figures: AMC. That just bounces back, on the phenomenon Barbenheimer in the cinemas. AMC had nice combination tickets for one Barbie I Oppenheimer and the course takes a ride on it again. Such a share. Still.

Ensures liveliness at the fair, but enter at your own risk. It’s so dull when you’re stuck with the pieces, when the herd moves on, the course suddenly doesn’t do anything at all and there’s no more book. The sucker in the market are you then, that’s what it’s called.

For a bit of counterweight to this section, here’s also an all-time high (with +3.6% on Q2s), a sure Berkshire Hathaway from Warren and Charlie:

The macro agenda is almost empty today, but there is already the first figure for August: the leading small and medium-sized business sentiment.

News, advice, shorts and agenda

The most important ABM Financial news since the Amsterdam closing yesterday.

08:12 AEX expected to start lower 08:06 German inflation down 07:50 Major loss for Bayer 07:24 Jefferies raises PostNL price target to €1.80 07:05 European stock markets are expected to open lower 06:56 Chinese exports strong again in July decreased 06:50 Dutch inflation drops below 5% 06:43 Stock market calendar: Dutch companies 06:43 Stock market calendar: foreign funds 06:43 Stock market calendar: macroeconomic 07 Aug Beyond Meat lowers turnover forecast for 2023 07 Aug Stock market update: AEX on Wall Street 07 Aug Wall Street closed higher 07 Aug Consumer credit US up more 07 Aug Oil price closed lower 07 Aug Wall Street heading for a higher close 07 Aug European stock markets closed almost flat 07 Aug Euronext reports lower volumes

The AFM reports this shorts:

From agenda:

07:00 Bayer – Figures second quarter (Germany)
13:00 Eli Lilly – US Second Quarter Figures
1:00 PM UPS – Second Quarter (US) Figures
10:00 PM AMC Entertainment – US Second Quarter Figures

04:00 Trade balance – July (Chi)
06:30 Inflation – July (NL)
08:00 Inflation – July (Ger)
14:30 Trade balance – June (US)
4:00 PM Wholesale Stocks – June (US)

And then this

An ordinary, but nice trading day with something better blue chips and tech:

Dow Jones +1,2%
S&P 500 +0,9%
Nasdaq Composite +0,6%
Nasdaq 100 +0,9%
SOX +1,1%
Russell 2000 +0,8%
Nasdaq Golden Dragon China Index -0,8%

Sensitive moment so close to Fitch and the US, but Moody’s – biggest and most important credit rater – looks critically at the US banks. Quote:

The downgraded banks include M&T Bank (MTB.N), Pinnacle Financial Partners (PNFP.O), Prosperity Bank and BOK Financial Corp (BOKF.O).

The banks placed on review for downgrade include BNY Mellon (BK.N), US Bancorp (USB.N), State Street (STT.N) and Truist Financial (TFC.N).

“Many banks’ Q2 results showed growing profitability pressures that will reduce their ability to generate internal capital,” Moody’s wrote in a note.

A twist, because it now says +2.6%:

Perhaps a risk for AI companies: sufficiently qualified personnel:

Oh, again -11.9%:

When will you launch your first satellite? Oh, you don’t have one yet?

Hereby:

Wind turbines, EVs, solar cells: have they all been tested and developed well enough, without knowing anything about the long-term advantages and disadvantages, to go all-in? It is just a suggestion and in the meantime all wind farmers are sitting with baked pears. Sometimes billions.

For example, the energy market is that complicated. Are you following this? Bloomberg:

The price differential between swaps for London’s Brent and Middle East’s Dubai crude has turned deeply negative, data from brokerage PVM show. It’s a dramatic shift from the start of the year — and normal trading patterns — when the spread was at a sizable premium.

It was at a discount of $1.60 a barrel on Monday, compared to more than $3 premium in January. Fluctuations in the relative prices of key global benchmarks can prompt the rerouting of oil flows across the world and, in this case, make it more viable to sell barrels produced in and around the Atlantic Ocean into Asian markets.

That in turn can lead to shifts in the premiums paid for some crude grades as buyers from different locations try to purchase cargoes. Brent, which is the global benchmark crude, generally trades at a premium to Dubai as its lower sulfur content and lighter density tends to produce higher-quality fuels.

But in recent months, production cuts by Saudi Arabia and Russia have tightened the medium-sour crude market, traders said. Additionally, Saudi official selling prices of grades such as Arab Light have also been hiked repeatedly this year, further supporting benchmark Dubai prices, they added.

Have fun and good luck today.


2023-08-08 06:37:06
#Large #flares #fair #striking #pictures #IEX.nl

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