Archives of “September 18, 2019” day

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Saudi Defence Ministry press conference coming up – preview

  
  Analysis

A preview of a press conference? I know, right?

Anyway, there is to be a presser from a defence ministry spokesman.
State TV report (via Reuters) it will:
  • show evidence of Iran’s involvement in the Aramco attacks
  • will show Iranian weapons that were used in the attacks
(I’m hoping he’ll have a chat about US repo rates but I may be disappointed 😀 )
ps. It’ll likely be Wednesday Saudi time.

Gundlach says he is ‘less positive’ on gold

  
  Analysis
  Tags

Jeffrey Gundlach is chief executive of DoubleLine Capital, comments across a range of issues.

Speaking with Reuters and on his regular webcast:

  • repo market squeeze makes it even more likely that the Fed will resume expansion of its balance sheet ‘pretty soon’
  • Federal Reserve will embark on ‘QE lite, Fed will grow balance sheet ‘in line with the growth in currency, like they did before the credit crisis’
  • says he is ‘less positive’ on gold as a buying entry because of recent rally
  • says chances of a US – China trade deal are ‘below zero’ ahead of the 2020 presidential election
Jeffrey Gundlach is chief executive of DoubleLine Capital, comments across a range of issues.

US Indices break 2-day slide. Close near day highs.

  
Analysis, US Market

Late day rally sends stocks higher

A late day rally has sent stocks higher into the close. The major indices are are closing near the session highs for the day with the Nasdaq stocks leading the way.
The provisional closes are showing:
  • S&P index up 7.62 points or 0.25% at 3005.58
  • NASDAQ index up 32.47 points or 0.40% at 8186.01
  • Dow industrial average up 31.74 points or 0.12% at 27108.56/

After the close FedEx is reporting weaker than expected earnings on the top and bottom lines and lowers expectations going forward.  First-quarter revenues $17.05 billion versus $17.06 billion estimate. Earnings per share $3.05 versus $3.15 estimate. They see fiscal year EPS at $11-$13 versus estimates of $14.73. They cite trade tensions for the decline.  FedEx after the close is trading down sharply at $160.36. That is down from the closing level of $173.55

Adobe, meanwhile be on the bottom and top lines.
  • Earnings-per-share to rose by $2.05 versus $1.97 estimate
  • Revenues $2.83 billion versus $2.82 billion estimate
Adobe did lower fourth-quarter earnings-per-share to $2.25 from an estimate $2.30 and revenues to $2.97 billion versus estimate $3.02 billion.  Adobe is trading in after markets at $284.10. It closed at $284.69
Some winners for the day include:
  • Chipotle, +3.27%
  • General Motors, +2.90%
  • Boeing, +1.53%
  • Netflix, +1.53%
  • Starbucks, +1.49%
  • Stryker, +1.45%
  • micron, +1.38%
  • United airlines, +1.37%
  • McDonald’s, +1.20%
  • American Express, +1.17%
  • Twitter, +1.15%
  • Intuit, +1.02%
  • Facebook, +1.0%
Some losers on the day include:
  • Schlumberger, -2.93%
  • Papa John’s, -1.35%
  • Morgan Stanley, -1.23%
  • Charles Schwab, -1.15%
  • Cisco, -1.10%
  • Emerson, -1.10%
  • PNC financial, -0.90%
  • Caterpillar, -0.71%
  • Bank of America, -0.70%
  • Deutsche Bank, -0.61%
  • Goldman Sachs, -0.60%
  • Citigroup, -0.53%
  • J.P. Morgan, -0.50%
  • Wells Fargo, -0.49%
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