in other words - another "worst since lehman" stat i see ye, whenever i hear those 3 words used in the same sentence def. means things probably got pretty bad out there haha. amazing that we can still go back to the GFC for stats!
Gooooooooood Friday evening and a happy weekend to y'all's here at the Stockaholics forum community! The market week ahead thread is now up on on the r/StockMarket subreddit for anyone looking for a quick read over this coming weekend: https://www.reddit.com/r/StockMarket/comments/up557v/wall_street_week_ahead_for_the_trading_week/ <-- (click there to read!) Next week's most anticipated earnings calendar is not yet out, but here are Monday's pre-market notables. Have yourself a terrific weekend everyone! And here's to another crazy amazing trading in the new ahead. Get that moola! Will catch up with y'all's same bat time, same bat channel bright and early in the AM on Monday. Cheers!
EW's most anticipated weekly calendar is now out. not nearly as exciting a week as we have been seeing as earnings season begins to wind down here.
Top of the morning Stockaholics! Happy Monday to you all! And welcome to the new trading week and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little over 2 hours from the cash market open. GLTA on this Monday, May the 16th, 2022.
Morning Lineup - 5/16/22 - Seventh Time The Charm? Mon, May 16, 2022 Markets are getting off to a slow start this week. Futures, which were modestly lower most of the morning and overnight, have turned modestly higher as we type this. Given the horrendous data coming out of China overnight and the fact that Europe lowered economic growth forecasts, that's actually not so bad. Treasury yields are basically flat while crude oil prices are modestly lower but still trade just below $110 per barrel. The only economic report on the calendar this morning is the Empire State Manufacturing Index which will give us the first read on data for the month of May. Economists are expecting the headline index to decline from last month's reading of 24.6 down to 15. After six weeks in a row of declines, will the seventh time be the charm as bulls look to eke out a week of gains for a change? In last Thursday's reversal, the S&P 500 managed to find some support right around the highs from early Q1 2021 even as it traded to 52-week lows. At the index level, this support level works out to roughly a range of 3,800 to 3,850. At the sector level, the only one to finish last week in positive territory was Consumer Staples, and just barely at that. On the downside, Real Estate, Consumer Discretionary, Financials, and Technology all fell by more than 3%. Energy was also down substantially but still managed to close out the week at overbought levels. Sectors like Consumer Discretionary, Communication Services, Financials, Real Estate, and Technology all finished off last week more than 8% below their 50-DMAs, so if the momentum from late Thursday and Friday can continue, these sectors have the most room to rally.
Retail sales data tomorrow could be a market mover tomorrow, we will see whether the consumers will keep spending despite inflation
Top of the morning Stockaholics! Happy Tuesday to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little over 3 hours from the cash market open. GLTA on this Tuesday, May the 17th, 2022.
Got back into RWM at $24.53, the oversold bounce might not be done yet but I am still leaning bearish
Top of the morning Stockaholics! Happy Hump Day to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little under 4 hours from the cash market open. GLTA on this Wednesday, May the 18th, 2022.
Morning Lineup - 5/18/22 - Retail Wreck Wed, May 18, 2022 This week the tax of inflation is being felt most by the retailers as two of the nation's largest retailers have gotten absolutely destroyed in the last two days. Futures are indicated lower this morning, but one could make the case, given the plunge in Target (TGT) shares this morning, that it could even be worse. Oil prices are also trading up close to 2%, the ten-year yield is back up to 3%, and the dollar is trading lower. On the economic front, we're about to get the latest updates on Housing Starts and Building Permits for April, but if mortgage data is any indication, the data isn't likely to be very strong If you thought yesterday's 11% pounding of Walmart (WMT) was bad, meet Target (TGT). After reporting significantly weaker than expected earnings on better than expected revenues, shares are trading down more than 20% in the pre-market. The company blamed 'unexpectedly high costs' that it faced throughout the quarter for the earnings miss, and didn't provide much additional detail in its release. Investors aren't waiting for further clarity, though. With margins falling more than 400 basis points (bps), the stock is trading down more than 20% in the pre-market and is easily on pace for, not only its worst earnings reaction day in at least 20 years, but also its worst day since the 1987 crash. Yesterday, WMT had its largest one-day decline since the 1987 crash and now TGT is on pace to do the same. The experiences of both companies further reinforce the point that we are operating in one of the most complicated macro environments that any company or investor has had to deal with. Few companies are so entwined into so many aspects of the US economy as WMT and TGT, and their logistics and supply chain operations rival or exceed those of most other companies. If they're having these types of issues keeping up with the rapidly changing environment, who isn't?
Wow at the earnings from WMT and TGT, the lower end consumers probably are suffering I still like TGT as a longer term investment but probably not picking shares up yet today
I went to Walmart for a quick shopping after work yesterday and I was wearing a backpack, first time ever I was stopped by the security immediately and they asked me to put my backpack into the locker, maybe they want to decrease the revenue loss from shoplifting Shoplifting is a pretty big problem at Walmart though I have to say at least at my local Walmart locations
Yellen confirms she is pressing Biden for some China tariff reductions | Reuters Some people are suspecting that China is using the lockdowns to disrupt the supply chains in order to get the tariff reductions, who knows if it is true but looks like the tariff reductions are on the way
Consumers names are just getting hammered today, even those that have outperformed such as COST and PG are getting hammered, I guess it makes sense for COST to go down after the earnings from WMT and TGT
Top of the morning Stockaholics! Happy Thursday to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little under 2 hours from the cash market open. GLTA on this Thursday, May the 19th, 2022.
