MARKETS TODAY Feb 17 (Vica Partners)
DOW (^DJI) 33,827 (+130), S&P 500 (^GSPC) 4,079 (-11) Nasdaq (^IXIC) 11787 (-69), Russell 2000 (^RUT) 1,946 (+4), NYSE FANG+ (^NYFANG) 5,537 (-67), Brent Crude $82.98/barrel (-$2.16), Gold $1,842/oz (+$8), Bitcoin $24.7k (+$1,181)
Session Overview
- Index of leading economic indicators was negative the past two months, recession signal
- US import prices in line while export prices up, not a factor today
- Hawkish central bank commentary drove mixed session results
- Indexes finish mixed, Dow and Russell 2000 lead
- Yields drop
- Energy sectors gets hammered <3.0%>, Utilities jump
- All 6 of 11 S&P 500 Sectors lower: Energy and Information Technology underperformed/ Utilities and Health Care outperformed
- Deere&Company (DE), Daimler (DDAIF), AutoNation (AN) with impressive earning beats
- Bitcoin 50 day average is up 44%
- Oil down, most Metals down
- US dollar index continues moving higher
Technicals/ Sector Performance/ Yields+
Index Moving Averages
S&P 500 Index ($SPX) close 4,079-/ 50 Day 3,998+/ 100 Day 3,901+/ 200 Day 3,943+
Dow Jones In ($DOWI) close 33,827+/ 50 Day 33,630+/ 100 Day 32,784+/ 200 Day 32,347+
Nasdaq Co ($NASX) close 11,787+/ 50 Day 11,154+/ 100 Day 11,034+/ 200 Day 11,421+
6 of 11 S&P 500 Sectors lower: Energy and Information Technology underperformed/ Utilities and Health Care outperformed. Energy and Information Technology were the largest decliners, down 2.99% and 1.15% respectively. Utilities and Health Care were the biggest advancers, up 1.19% and 0.98% respectively.
Yields fall: US 2yr to 4.619%-, 5yr to 4.029%-, 10yr to 3.819%-, 30yr to 3.867%-
Greed Index Rating 69/ Greed
Notable Company Earnings
- Beats / Deere&Company (DE), Daimler (DDAIF), PPL (PPL), Corebridge Financial (CRBG), AutoNation (AN)
- Misses/ Lenovo Group (LNVGF), CenterPoint Energy (CNP) , American Axle&Manufacturing (AXL), Barnes (B)
U.S Economic News
- Import price index; period Jan., act -0.2% , fc -0.1%, prev -0.1% (revised)
- Index of leading economic indicators; period Jan., act -0.3%, fc -0.3%, prev -0.8% (revised). The Conference Board is the member-driven think tank that delivers insights for what’s ahead.
- Fed speakers; Richmond Fed president Barkin supports the central bank’s quarter-point rate-rise path gives greater flexibility. Fed Gov. Michelle Bowman focused on 2% inflation objective.
Other Asset Classes:
- CBOE Volatility Index (^VIX): -0.15 to 20.02
- USD index: +0.02 to $103.87
- Oil prices: Brent: -2.54% to $82.98, WTI: -2.82% to $76.28, Nat Gas: -4.94% to $2.271
- Gold: +0.42% to $1,842.03, Silver: +1.02% to $21.75, Copper: -0.15% to $4.13
- Bitcoin: +5.02% to $24.7k
Business News
- Tencent scraps plans for VR hardware as metaverse bet falters – sources Reuters
- Binance’s U.S. partner confirms firm run by CEO Zhao operated on exchange Reuters
- U.S. LNG producers poised to leapfrog rivals with three new projects Reuters
- Mercedes-Benz eyes more direct sales amid earnings pressure Reuters
- NatWest outlook drags down shares despite profit leap Reuters
Vica Momentum Stock Report
Coca-Cola Company (KO) $KO (Momentum A-) (Value B+) (Growth B), moving averages/ 50 Day -5.5%%, 100 Day +3.54%, 200 Day -5.01%, Year-to-Date -5.80%
Strong Momentum Buy Rating
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant–based beverages; tea and coffee; and energy drinks and other. It operates through a network of independent bottling partners, distributors, wholesalers, and retailers, as well as through bottling and distribution operators. The company was founded in 1886 and is headquartered in Atlanta, Georgia.
Market Outlook and updates posted at vicapartners.com
