MARKETS TODAY Jan 31 (Vica Partners)
DOW (^DJI) 34,086 (+369), S&P 500 (^GSPC) 4,077 (+59), Nasdaq (^IXIC) 11,585 (+191), Russell 2000 (^RUT) 1,932 (+46), NYSE FANG+ (^NYFANG) 5,281 (+107), Brent Crude $84.49/barrel (-$0.41), Gold $1,927/oz (+$5), Bitcoin $23.1k (-$36)
Session Overview
- The employment cost index, a metric the Federal Reserve watches closely for inflation had its lowest quarterly gain in a year.
- Key Indexes rise
- Yields fall
- 11 of 11 S&P 500 Sectors higher: Consumer Discretionary Services outperforms, Utilities underperforms
- Nasdaq moves above 200d moving average
- Earning pop from General Motors Co. (GM), Exxon Mobil Corp. (XOM), Pfizer Inc. (PFE), United Parcel Service Inc.(UPS).
- Market is expecting Fed’s hike announcement
Technicals/ Sector Performance/ Yields+
Index Moving Averages
S&P 500 Index ($SPX) close 4,077+/ 50 Day 3,946+/ 100 Day 3,870+/ 200 Day 3,954+
Dow Jones In ($DOWI) close 34,086+/ 50 Day 33,643+/ 100 Day 32,379+/ 200 Day 32,345+
Nasdaq Co ($NASX) close 11,585+/ 50 Day 10,968+/ 100 Day 10,979+/ 200 Day 11,487+
11 of 11 S&P 500 Sectors higher: Consumer Discretionary Services outperforms, Utilities underperforms
The Consumer Discretionary and Real Estate were the biggest advancers, up 1.62% and 1.35% respectively. The worst performing sectors was Utilities, up 0.67%.
Yields fall: US – 2yr to 4.207%+, 5yr to 3.619%-, 10yr to 3.51%-, 30yr to 3.633%-
Greed Index Rating 71/ Greed
Notable Company Earnings
- Beats / General Motors Co. (GM), Exxon Mobil Corp. (XOM), Pfizer Inc. (PFE), United Parcel Service Inc.(UPS)
- Misses/ Caterpillar Inc. (CAT), Komatsu Ltd. ADR (KMTUY)
Tomorrow/ Altria Group Inc. (MO), Humana Inc. (HUM), T-Mobile US Inc.(TMUS)
U.S Economic News
- Employment cost index; period Q4, actual 1.0%, forecast 1.1%, previous 1.2%, The employment cost index, a metric the Federal Reserve watches closely for inflation, increased 1% in the October-to-December period, below the 1.1% Dow Jones estimate and less the 1.2% reading in the third quarter. The lowest quarterly gain in a year.
- S&P Case-Shiller home price index (SAAR); period Nov. actual -3.1% previous -2.8%
- FHFA home price index (SAAR); period Nov., actual -1.6%, previous 0.0%
- Chicago business barometer; period actual 44.3, forecast 45.3, previous 45.1
- Consumer confidence index; period Jan, actual 107.1, forecast 109.5, previous 109.0
- Rental vacancy rate; period Q4, actual 5.8%, previous 6.0%
- Tomorrow; the Market is expecting Fed’s announcement in the afternoon of a 25 basis point (0.25%) interest rate hike
Other Asset Classes:
- CBOE Volatility Index (^VIX): -0.54 to 19.40
- USD index: +$0.03 to $102.12
- Oil prices: Brent: -0.48% to $84.94, WTI: +0.36% to $79.15, Nat Gas: +2.91% to $2.762
- Gold: +0.24% to $1,926.57, Silver: +0.48% to $23.69, Copper: -0.38% to $4.21
- Bitcoin: -0.16% to $23.1k
Business News
- White House blasts Exxon over historical $56 bln annual profit reuters
- Oil rises as slowing U.S. inflation eases recession concerns reuters
- Boeing CEO hints at higher jet output, optimistic on China reuters
Vica Momentum Stock Report
China Automotive Systems, Inc. (CAAS) $CAAS. (Momentum A) (Value B) (Growth A), moving averages – 50 Day +92.65%, 100 Day +107.93%, 200 Day +197.25%, Year-to-Date +49.14%
China Automotive Systems, Inc., through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic and hydraulic power steering systems and parts. The company also offers automotive motors and electromechanical integrated systems; polymer materials; and intelligent automotive technology research and development services.
Market Outlook
Market Outlook and updates posted at vicapartners.com
