MARKETS TODAY Jan 30 (Vica Partners)
DOW (^DJI) 33,717 (-261), S&P 500 (^GSPC) 4,018 (-53), Nasdaq (^IXIC) 11,394 (-228), Russell 2000 (^RUT) 1,890 (-22), NYSE FANG+ (^NYFANG) 5,192 (-164), Brent Crude $84.94/barrel (-$1.72), Gold $1,923/oz (-$6), Bitcoin $22.8k (-$967)
Session Overview
- Key Indexes decline
- Yields up
- Nasdaq falls below 200d moving average
- 10 of 11 S&P 500 Sectors lower: Communication Services led underperformance, Consumer Staples outperform
- 20% of companies in the S&P 500 to report this week
- Earning beat/ NXP Semiconductors (NXPI), GE HealthCare Technologies (GEHC) Earnings miss/ Alexandria Real Estate Equities (ARE), Whirlpool Corporation (WHR)
- Fed will probably hike 25bps Wednesday
- Look for Fed chief to play down market optimism and pay attention to the labor market data “employee cost index” as it will be important this week
Technicals/ Sector Performance/ Yields+
Index Moving Averages
S&P 500 Index ($SPX) close 4,018+/ 50 Day 3,944+/ 100 Day 3,869+/ 200 Day 3,956+
Dow Jones In ($DOWI) close 33,717+/ 50 Day 33,633+/ 100 Day 32,354+/ 200 Day 32,347+
Nasdaq Co ($NASX) close 11,394+/ 50 Day 10,960+/ 100 Day 10,981+/ 200 Day 11,497-
10 of 11 S&P 500 Sectors lower: Communication Services led underperformance, Consumer Staples outperforms
The Communication Services and Information Technology sectors were the biggest decliners s, down 2.04% and 1.90% respectively. The best performing sectors was Consumer Staples, up 0.17%.
Yields rise: US – 2yr to 4.244%+, 5yr to 3.669%+, 10yr to 3.544%+, 30yr to 3.659%+
Greed Index Rating 67/ Greed
Notable Company Earnings
- Beats / NXP Semiconductors N.V.(NXPI), GE HealthCare Technologies Inc. (GEHC), Canon, Inc. (CAJ), Ryanair Holdings plc (RYAAY)
- Misses/ Alexandria Real Estate Equities, Inc. (ARE), Franklin Resources, Inc. (BEN), Whirlpool Corporation (WHR).
Tomorrow/ United Parcel Service (UPS), McDonalds (MCD), Advanced Micro Devices (AMD), Exxon Mobil (XOM), Caterpillar (CAT), Pfizer (PFE), Electronic Arts (EA)
U.S Economic News
- None scheduled today
Later this Week: Tue/ home prices, consumer confidence. Wed /employment, job openings, manufacturing, Jerome Powell. Thurs/ unemployment, productivity, orders. Fri/ payrolls, earnings, services
Economic Summary
- Weekly inflation data indicates that economy is slowing
- A third of companies in the S&P 500 have released results ~69% of companies that have reported have beaten estimates by an average of 1.5%.
- The labor market remains resilient
- Consumer, bank and payments report spending has moderated
- A shift from goods to services with travel biz robust
- Supply chains continue improve
- Resource and other demand returning from China
Other Asset Classes:
- CBOE Volatility Index (^VIX): +1.40 to 19.93
- USD index: +$0.33 to $102.26
- Oil prices: Brent: -1.98% to $84.94, WTI: -2.33% to $77.82, Nat Gas: -6.14% to $2.674
- Gold: -0.32% to $1,922.65, Silver: -0.24% to $23.59, Copper: -0.94% to $4.18
- Bitcoin: -4.07% to $22.8k
Business News
- Adani Backed by UAE Royals Buying $400 Million in Share Sale bloomberg
- Paxlovid sales forecasts may change with Pfizer view on China reuters
- Oil falls as rate hikes loom and Russian flows stay strong reuters
- TikTok CEO to testify before U.S. Congress over security concerns reuters
Vica Momentum Stock Report
Unilever Plc ADR (UL) $UL. (Momentum B+) (Value B) (Growth A), moving averages – 50 Day +4.89%, 100 Day +12.19%, 200 Day +12.95%, Year-to-Date -0.18%
Unilever PLC is a fast-moving global consumer goods company. It operates through Beauty & Personal Care, Foods & Refreshment, and Home Care segments. The Beauty & Personal Care segment provides skin care and hair care products, deodorants, and skin cleansing products. The Foods & Refreshment segment offers ice cream, soups, bouillons, seasonings, mayonnaise, ketchups, and other assorted categories.
Market Outlook
Market Outlook and updates posted at vicapartners.com
