MARKETS TODAY Feb 27 (Vica Partners)
- DOW (^DJI) 32,889 (+72), S&P 500 (^GSPC) 3,982 (+12) Nasdaq (^IXIC) 11,467 (+72), Russell 2000 (^RUT) 1,895 (+4), NYSE FANG+ (^NYFANG) 5,466 (+74), Brent Crude $82.33/barrel (-$0.83), Gold $1,817/oz (+$5), Bitcoin $23.3k (-$246)
Session Overview
- US. core capital goods orders w/ largest gain in 5 months, Durable goods miss
- Pending home sales surprise, 8.1% increase in January
- Indexes rise, Nasdaq, FANG+ lead
- Greed Index Rating 61/ Greed
- Yields decline
- 9 of 11 S&P sectors higher: Consumer Discretionary and Industrials outperformed/ Health Care and Utilities underperformed.
- Workday (WDAY), Zoom Video (ZM), The AES (AES)with solid earnings beats
- US dollar index pulled back
- Oil down, Natural gas prices up
- Metals markets were mostly higher
- Bitcoin declines
Index Moving Averages
- S&P 500 Index ($SPX): day 3,982+/ 50 Day 3,980-/ 100 Day 3,918+/ 200 Day 3,940-
- Dow Jones In ($DOWI): day 32,889+/ 50 Day 33,551-/ 100 Day 32,971+/ 200 Day 32,350+
- Nasdaq Co ($NASX): day 11,467+/ 50 Day 11,194+/ 100 Day 11,068+/ 200 Day 11,405-
- 9 of 11 S&P sectors higher: Consumer Discretionary and Industrials outperformed/ Health Care and Utilities underperformed. Consumer Discretionary and Industrials were the biggest advancers, up 1.57% and 1.10% respectively. Health Care and Utilities were the largest decliners, down 0.10% and 0.01% respectively.
Other Asset Classes:
- US Treasury: 2yr to 4.784%-, 5yr to 4.175%-, 10yr to 3.928%-, 30yr to 3.936%-
- CBOE Volatility Index (^VIX): -0.72 to 20.95
- USD index: -0.56 to $104.65
- Oil prices: Brent: -1.00% to $82.33, WTI: -0.83% to $75.69, Nat Gas: +7.18% to $2.731
- Gold: +0.26% to $1,816.63, Silver: -0.92% to $20.59, Copper: +1.47% to $4.01
- Bitcoin: -1.04% to $23.3k
Notable Company Earnings
- Beats/ Workday (WDAY), Zoom Video (ZM), The AES (AES), Astra Int (PTAIY), Universal Health Services (UHS), Opera (OPRA)
- Misses/ Occidental (OXY), BeiGene ADS (BGNE), Li Auto (LI), Viatris (VTRS), Pinnacle West (PNW)
U.S Economic News
- Durable goods orders: period Jan., act -4.5%, fc -3.6%, prior 5.1%
- Capital goods orders: period Jan., act 0.8%, fc 0.1%, prior -0.3%
- Pending home sales: period Jan., act 8.1%, fc 0.9%, prior 2.5%
- Fed Gov. Jefferson: Inflation for a broad array of services in the United States remains “stubbornly high, though slower-growing wages might help slow prices in those parts of the economy as well.
Business News
- Qualcomm, Android phone makers developing satellite messaging feature reuters
- Snap to roll out chatbot powered by OpenAI’s ChatGPT reuters
- Shionogi sees COVID pill reaping $2 billion in annual sales upon U.S. approval reuters
- Cisco works with Mercedes-Benz to create mobile office reuters
International Related News and Other
- U.S. awards nearly $1 billion to airports in infrastructure grants reuters
- Oil futures slip 1% on worries about more U.S. interest rate hikes reuters
- China says U.S. ‘endangered’ peace with Taiwan Strait fly-through reuters
- Russia halts pipeline oil to Poland says refiner PKN reuters
Vica Momentum Stock Report
- Alibaba Group Holding ADR (BABA) $BABA (Momentum C) (Value A+) (Growth A), moving averages/ 50-Day -2.32%, 100-Day +10.98%, 200-Day +5.58%, Year-to-Date +1.36. Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People’s Republic of China and internationally.
Strong Value Buy Rating
Market Outlook and updates posted at vicapartners.com
