Liveblog Archief vrijdag 16 september 2022

TOP NEWS
• FedEx plummets as forecast withdrawal fans slowdown fears
Shares of FedEx slumped in premarket trading as the global delivery heavyweight's forecast withdrawal sounded alarm about softening consumer demand and hammered equities in the sector worldwide.

• U.S. railroad worker fight for pay, benefits could be model for other deals
Union railworkers in the United States scored a potential key victory in their fight for improved pay and working conditions on Thursday in what could be a model for other unions.

• Uber says responding to 'cybersecurity incident' after report of network breach
Uber Technologies said on Thursday it was investigating a cybersecurity incident, after a report that its network was breached and the company had to shut several internal communications and engineering systems.

• Biden administration wants more crypto enforcement, digital asset rules
U.S. government agencies must double down on digital asset sector enforcement and identify gaps in cryptocurrency regulation, the Biden administration said in reports published.

• Consumer group says drugmakers abuse U.S. patent system to keep prices high
Makers of the top selling drugs in the United States are costing patients billions of dollars and worsening a drug pricing crisis by abusing the U.S. patent system to stifle competition and inflate prices, a consumer group said on Thursday.


BEFORE THE BELL
Wall Street futures slipped after logistics industry bellwether FedEx withdrew its financial forecast and recession warnings from the World Bank and the International Monetary Fund. European shares were also trading in the red. Japan's Nikkei closed lower. Gold prices fell as expectations of a huge rate hike from the Fed next week boosted the dollar and Treasury yields. Oil prices steadied but were on course for a weekly decline. Later in the day, University of Michigan is scheduled to report its preliminary consumer sentiment index for September.


STOCKS TO WATCH
• Alphabet Inc & Meta Platforms Inc: Major tech companies on Thursday committed to taking fresh steps to combat online extremism by removing more violent content and promoting media literacy with young users, as part of a White House summit on fighting hate-fueled violence. Platforms like Alphabet's YouTube and Meta Platforms' Facebook have come under fire for years from critics who say the companies have allowed hate speech, lies and violent rhetoric to flourish on their services.YouTube said it will expand its policies on violent extremism to remove content that glorifies violent acts, even if the creators of the videos are not related to a terrorist organization.

• ArcelorMittal SA : The company has started negotiations with unions this week on a broad furlough scheme for the 8,300 workers at its Spanish mills in the face of weakening demand and soaring energy prices, a company spokesperson said. The world's largest steelmaker expects to reach an agreement within a couple of weeks to allow it to idle any of its plants in Spain for any period of time until the end of 2023, the spokesperson added. ArcelorMittal's Sestao steelworks near the northern city of Bilbao, which has an annual capacity of 700,000 tonnes, is already idle and the company also intends to shut one of its two blast furnaces in the Asturias region, with capacity of 2.3 million tonnes, from Sept. 28. The company owns 11 plants in Spain, though it doesn't plan to idle the three in Alava and Navarra, where it produces steel pipes.

• AstraZeneca PLC: Europe's medicines regulator has backed using AstraZeneca's preventative COVID-19 therapy as a treatment for the disease and also endorsed another medicine as preventative option for another common virus. The regulator's recommendations are usually followed by the European Commission when it takes a final decision on drug approvals. AstraZeneca said the European Medicines Agency had backed Evusheld as a treatment for adults and adolescents with COVID who do not need supplemental oxygen and who are at increased risk of their disease worsening. AstraZeneca is leaning on Evusheld to help offset tepid sales of its COVID vaccine that has rapidly lost ground to mRNA shots in the fight against the rapidly evolving virus.

• Boeing Co & Raytheon Technologies Corp: China will impose sanctions on the CEOs of Boeing Defense and Raytheon over their involvement in Washington's latest arms sales to Taiwan, a foreign ministry spokesperson said. The sanctions on Boeing Defense, Space, and Security CEO Ted Colbert and Raytheon Technologies boss Gregory Hayes are in response to the U.S. State Department on Sept. 2 approving the sale of military equipment to Taiwan. Those sales include 60 anti-ship missiles and 100 air-to-air missiles, of which the respective principal contractors are Boeing Defense, a division of Boeing, and Raytheon. Colbert and Hayes will be sanctioned "in order to protect China's sovereignty and security interests" said foreign ministry spokesperson Mao Ning citing "their involvement in these arms sales". Mao did not elaborate on what the sanctions would entail or on how they would be enforced. "The Chinese side once again urges the U.S. government and relevant entities to...stop selling arms to Taiwan and U.S.-Taiwan military contacts."

• FedEx Corp: Shares of FedEx slumped in premarket trading as the global delivery heavyweight's forecast withdrawal sounded alarm about softening consumer demand and hammered equities in the sector worldwide. FedEx, considered the bellwether of the global economy and the broader logistics sector, tumbled 19% to $165.67 after it pulled a financial forecast it had issued just three months ago. FedEx's weak result highlights the difficult macroeconomic backdrop as elevated inflation and concerns about slowing global growth dent shipping volumes, said Victoria Scholar, head of investment at Interactive Investor. However, some analysts believe FedEx's dour performance in the first quarter is mostly a company-specific issue. "Clearly, there are questions about the direction of the global economy, especially in Europe and Asia, but we struggle to see how that accounts for the entirety of this quarter's miss," Stifel analysts said in a note.

• General Electric Co: The company is still grappling with supply-chain bottlenecks which have made it tougher to deliver products to customers on time, Chief Financial Officer Carolina Dybeck Happe said on Thursday. All the businesses of the Boston-based industrial conglomerate have been facing challenges in satisfying customer demand due to shortages of parts, labor and raw materials. In the second quarter, supply-chain and macroeconomic pressures shaved off 5 percentage points from GE's revenue. Dybeck Happe told a Morgan Stanley conference those factors continue to impact output of its jet engines and healthcare products. "Supply chain continues to be tough and continues to impair our ability to deliver to our customers," she said.

• Gol Linhas Aéreas Inteligentes SA: Brazil airline Gol Linhas Aéreas Inteligentes will pay more than $41 million to resolve parallel bribery investigations by criminal and civil authorities in the United States and Brazil, U.S. authorities said on Thursday. Gol entered into a three-year deferred prosecution agreement with the Justice Department in connection with criminal information filed in Maryland charging the company with conspiracy to violate anti-bribery legislation, the department said in a statement. The U.S. Securities and Exchange Commission said in a statement that Gol had agreed to pay $70 million to settle charges against it. However, due to Gol's "inability to pay the fines in full, the SEC and the (Justice Department) waived payment of all but $24.5 million and $17 million", it added. Gol will pay around $3.4 million in additional fines to Brazilian authorities, the SEC said. The airline agreed with the Justice Department to pay more than $87 million to settle criminal charges, the SEC added.

• JPMorgan Chase & Co: The financial comapny and ICBC Standard Bank are cutting back on financing to China's troubled metals trade, Bloomberg News reported, citing people familiar with the matter. The lenders have pulled back after a liquidity crisis emerged at top copper trader Maike Metal International Group, the report said. At least three Chinese metal trading companies have had credit lines frozen or reduced by either of the banks in recent weeks, the report added. Both JPMorgan and ICBC Standard Bank have financing relationships with Maike. It was not clear whether the banks' pullback from the Chinese metals market was a temporary freeze, while they assess their situation, or a more permanent retreat, the report said.

• Las Vegas Sands Corp & Melco Resorts & entertainment Ltd: Macau's government opened bids from seven companies, including a wildcard from Malaysian operator Genting, for licenses to operate casinos in the world's biggest gambling hub, kicking off a closely watched battle for six available slots. Macau's top officials including the city's Economy and Finance secretary Lei Wai Nong and Secretary for Administration and Justice André Cheong attended the opening together with top executives from Macau casinos Las Vegas Sands Macau unit Sands China, Wynn Macau and MGM China.All six incumbent Macau players, which also include Galaxy Entertainment, Melco Resorts and SJM Holding, submitted bids ahead of a deadline on Wednesday together with GMM Limited, a holding company of Genting Group Chairman Sri Lim Kok Thay, which does not operate casinos in Macau. GMM's application was seen as a surprise to many executives and analysts, with some saying it posed extra uncertainty for local operators.

• Nordstrom Inc: Mexican high-end department store chain Liverpool has acquired a 9.9% passive stake in U.S. upscale retailer Nordstrom, using what it said was surplus cash for a bet on geographic diversification. Liverpool said in a statement on Thursday that it had bought $293.8 million worth of stock in the Seattle-based firm. "This operation represents an attractive opportunity to diversify assets geographically," Liverpool said. Liverpool also reported the investment in a separate Securities and Exchange Commission filing, indicating that it held the 9.90% stake as of Sept. 8.

• Pfizer Inc: A group of medical professionals that advocates against "radical, divisive, and discriminatory ideology" in healthcare sued Pfizer on Thursday, saying the drugmaker runs a fellowship that illegally excludes white and Asian-American applicants. In a complaint filed in Manhattan federal court, the plaintiff Do No Harm called Pfizer's Breakthrough Fellowship Program "discriminatory on its face" because only Blacks, Latinos and Native Americans can apply. It said the program violates federal, New York state and New York City civil rights laws, as well as a federal ban on racial discrimination by companies that accept reimbursements from government healthcare programs. "Racial discrimination demeans us," and Pfizer's "open exclusion of white and Asian-American applicants is illegal," the complaint said, citing opinions of two conservative Supreme Court justices, Clarence Thomas and the late Antonin Scalia. The lawsuit seeks injunctions barring Pfizer from making race a factor in obtaining fellowships, and preventing it from filling the 2023 class under current eligibility rules. It also seeks $1 in nominal damages.

• Shell PLC: The company said it was "unaffected" by the German government's decision to place the PCK Schwedt oil refinery under a trusteeship, effectively taking control away from Russian majority owner Rosneft. It is unclear who will step in to replace Rosneft as operator of the 233,000 barrel per day refinery, which Shell has sought to sell out of. "Shell remains unaffected by this order as a 37.5% shareholder in PCK Schwedt and will continue to comply with its contractual obligations in accordance with its own shares," Shell said in an emailed statement. "We do not want to speculate about measures in the context of the continued operation of the refinery in Schwedt (or other locations) that may or may not be taken by the government."

• Uber Technologies Inc: The company said on Thursday it was investigating a cybersecurity incident, after a report that its network was breached and the company had to shut several internal communications and engineering systems. A hacker compromised an employee's workplace messaging app Slack and used it to send a message to Uber employees announcing that the company had suffered a data breach, according to a New York Times report on Thursday that cited an Uber spokesperson. It appeared that the hacker was later able to gain access to other internal systems, posting an explicit photo on an internal information page for employees, the report added. "We are in touch with law enforcement and will post additional updates here as they become available," Uber said in a tweet, without providing further details.


ANALYSIS
Why baby gear may not alleviate Bed Bath & Beyond’s troubles
Struggling home goods retailer Bed Bath & Beyond is taking an axe to stores and jobs and overhauling its merchandising strategy, but its return to profitability anytime soon may hinge on luring U.S. shoppers who currently spend $18.2 billion a year on baby goods.


ANALYSTS' RECOMMENDATION
• Adobe Inc: Oppenheimer cuts rating to perform from outperform, saying the company overpaid to acquire Figma and the deal adds another layer of execution risk over the next few quarters.

• Beauty Health Co: Piper Sandler raises target price to $23 from $20, citing confidence in the management's ability to meet long term targets set and expand margins.

• FedEx Corp: JPMorgan cuts rating to neutral from overweight, reflecting the company's worse-than-expected short term outlook.

• Syneos Health Inc: Baird cuts target price to $80 from $89, after the company cautioned of soft third-quarter bookings by its clients.

• Teladoc Health Inc: KeyBanc initiates coverage with sector weight rating, seeing the company's operating leverage being hampered with escalating advertising & marketing costs for the more consumer facing BetterHelp platform.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1000 U Mich Sentiment Preliminary for Sept: Expected 60.0; Prior 58.2
1000 U Mich Conditions Preliminary for Sept: Expected 60.8; Prior 58.6
1000 U Mich Expectations Preliminary for Sept: Expected 59.7; Prior 58.0
1000 U Mich 1-Yr inflation preliminary for Sept: Prior 4.8%
1000 U Mich 5-Yr Inflation preliminary for Sept: Prior 2.9%


COMPANIES REPORTING RESULTS
No major S&P 500 companies are scheduled to report for the day.


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0900 Take-Two Interactive Software Inc: Annual Shareholders Meeting


EX-DIVIDENDS
Alexander & Baldwin Inc (Hawaii): Amount $0.22
DT Midstream Inc: Amount $0.64
DTE Energy Co: Amount $0.88
Hess Corp: Amount $0.37
Hudson Pacific Properties Inc: Amount $0.25
Huntington Bancshares Inc: Amount $0.15
J & J Snack Foods Corp: Amount $0.70
Lamar Advertising Co: Amount $1.20
Stock Yards Bancorp Inc: Amount $0.29
Utz Brands Inc: Amount $0.05

Goedemorgen,

De beurzen eindigen in het rood, over de gehele lijn zien we verliezen na opnieuw een volatiele sessie zowel in Europa als op Wall Street. Een sessie waar de rente weer een rol speelt, de 10-jaars rente in de VS blijft rond de 3,48% hangen en dat is ongeveer de hoogste stand van dit jaar. Boven de 3,5% kan de rente makkelijk door richting de 4% later dit jaar. De olie kende ook een slechte dag, de Brent zakte terug van rond de 94 dollar tot rond de 91 dollar, vanmorgen kost een vat rond de 91-91,25 dollar. Verder is het vandaag "Quadruple Witching Day" waar alle belangrijke opties en futures expireren. Beleggers kijken ook al uit naar wat de FED zal doen volgende week woensdag ...

Meedoen met onze signalen die we versturen kan door lid te worden via de Tradershop ... Let op, er loopt nu een aanbieding tot 1 NOVEMBER voor €35 ...

Update vrijdag 16 september:
Na opnieuw een volatiele sessie moet Wall Street donderdag opnieuw inleveren, beleggers twijfelen nadat er verschillende economische cijfers aangeven dat het beeld van de Amerikaanse economie er niet echt goed uitziet. Vooral de inflatiecijfers wegen zwaar op de markten nu, deze keer in de negatieve richting. Het is hoe dan ook een moeilijke markt, beleggers kunnen zo van gedachte veranderen als er een cijfers mee of tegenvalt, de indices staan dan zo 3 tot 5% hoger of lager. In deze fase ziet men het glas weer eens halfleeg, het is nu wachten tot er een draai in de positiever richting komt en ik kan u verzekeren dat deze beweging ook heftig zal worden.

Uiteindelijk verloor de Dow Jones 173 punten (-0,55%) na opnieuw een volatiele sessie, de index sluit nu op 30.962 punten, de brede S&P 500 verloor 44,6 punten met een slot op 3901,35 punten (1,15%). De Nasdaq verloor 167 punten (-1,55%) met een slot op 11.552 punten terwijl de Nasdaq 100 index 207 punten (1,7%) verloor met een slot op 11.927 punten. De SOX index verloor 1,6% terwijl de Dow Transport index 1,05% lager sluit.

De indices in Europa sluiten ook met verlies, de AEX sluit 6 punten lager op 674,74 punten (-0,9%), de DAX sluit 71 punten (-0,55%) lager met een slot op 12.956 punten. Verder zien we dat de Franse CAC 40 index 1,05% lager sluit, de BEL 20 sluit nagenoeg onveranderd met 0,05% verlies.

De euro zien we nog steeds rondom de 1 op 1 draaien, dat komt vooral door dat men er vanuit gaat dat de FED nog wat agressiever kan worden met het verhogen van de rente en dus sneller blijft dan de ECB die wat achterloopt. Dat zet de euro onder druk en maakt de dollar sterken.

De 10-jaars rente in de VS zien we vanmorgen rond de 3,48% uitkomen en blijft hoog. De oplopende rente is normaal gezien niet goed voor de meer risicovolle sectoren zoals de tech en dat merken we aan het verloop van de Nasdaq en de SOX. De Brent olie zakt nu weer terug staat vanmorgen rond de 91-91,5 dollar.

We blijven hoe dan ook opletten met wat de rente doet, ook houden we het verloop van de energieprijzen goed in de gaten. Volgende week woensdag komt de FED met het besluit over de rente, men gaat nog steeds uit van een verhoging met 0,75% maar beleggers gaan ook heel goed luisteren wat FED voorzitter Powell zal zeggen over de periode daarna.

Er komt in ieder geval nog genoeg informatie op ons af zodat de beurzen volatiel zullen blijven, het enige wat telt is dat het momentum goed is om eventueel in te stappen. Vandaag is het ook nog "Quadruple Witching Day". We mogen in deze fase absoluut geen risico's nemen maar mogelijk kunnen we met wat kleine posities wat proberen als enkele indices op de steun uitkomen.

Signaaldiensten:
We blijven voorzichtig handelen waar dat kan, de short posities werden met winst gesloten deze week zodat ik opnieuw kan kijken naar nieuwe mogelijkheden. We kiezen dan vooral de bekende indices en bij Guy Trading samen met COMBI-Trading ook wat bekende aandelen en de Brent olie. We handelen ook nog steeds met kleine posities omdat de markt te volatiel blijft.

Meedoen met onze signalen kan nu via de nieuwe aanbieding die loopt tot 1 NOVEMBER 2022. Schrijf u nu snel in tot 1 NOVEMBER voor €35 via de Tradershop en kies uw abonnement via de link https://www.usmarkets.nl/tradershop

Marktoverzicht:
Wall Street zoekt de bodems van 2 weken geleden nu op en we moeten opletten dat er geen verdere daling komt vanaf deze niveau's want anders kunnen de indices richting hun laagste punten van dit jaar. De Dow Jones verloor 173 punten terwijl de S&P 500 index 44 punten lager sluit. De Nasdaq verloor 167 punten terwijl de SOX index 42 punten lager sluit.

In Europa zien we de indices ook verder inleveren, de AEX verloor 6 punten terwijl de DAX 71 punten lager sluit. Ook in Europa zien we dat de indices snel richting de bodemzone van 2 weken geleden zakt.

Dow Jones:
De Dow Jones sluit 173 punten lager sluit en onder de oplopende steunlijn blijft nu. Na de daling van dinsdag zien we amper herstel zodat de Dow Jones er zwak bij blijft liggen. Het lijkt er op dat de index snel naar de volgende steun wil die we rond de 30.600 punten zien uitkomen.

Weerstand nu eerst rond de 31.250 met net daarboven de 31.500 punten. Later kijken we naar de 31.750 en de 32.000 punten als weerstand. Steun nu eerst rond de 30.600 en de 30.000 punten, daar onder vooral de bodem van dit jaar rond de 29.600 punten.

AEX index:
De AEX moest verder terug en sluit nu op de 675 punten steun, als de index onder die 675 punten zakt dan kijken we vooral naar de bekende tradingrange van de afgelopen weken tussen de 665 en de 675 punten.

Steun nu eerst 675 punten met later de 665 punten als steun hetgeen we goed kunnen zien op de grafiek. Weerstand nu eerst de 680 en de 690 punten met later de bekende zware weerstand rond de 700-702 punten.

DAX index:
De DAX verloor opnieuw en sluit nu onder die 13.000 punten, de index kan nu makkelijk weer terug richting de bodemzone van2 weken geleden rond de 12.600 punten. Dan staat de index ook niet zo ver meer boven de bodem van dit jaar rond de 12.400 punten. Dat het snel gaat merken we, de volatiliteit blijft hoog.

Steun nu eerst rond de 12.900 en de 12.750 punten. Daaronder de bodem van 2 weken geleden rond de 12.600 punten met daarna snel de bodem van dit jaar rond de 12.400 punten. Weerstand nu eerst rond de 13.000 punten, later de 13.200-13.250 punten en de bekende zone 13.350-13.400 punten.

Nasdaq Composite:
De Nasdaq sluit opnieuw lager na een korte opleving, we zien een verlies van 167 punten met een slot op 11.552 punten. De index blijft dus zwak en sluit op de bodemzone. Na een stevig herstel vorige week zakt de index heel snel terug tot die laagste stand van dinsdag 6 september.

Steun zien we nu rond de 11.500 punten, later steun rond de 11.250 en de 11.000-11.050 punten. Weerstand nu rond de 11.750 punten, later rond de 12.000 en de 12.110 punten (50-MA) weerstand.

Overzicht resultaten deze maand augustus en dit jaar (2022):

De signaaldiensten:
De maand september verloopt voor ons positief, de short posities die we afgelopen vrijdag hadden opgenomen werden deze week met winst gesloten. We bekijken nu of we nog een posities kunnen opnemen deze week maar het is geen verplichting natuurlijk, we zoeken een mooi momentum. Meedoen met onze signalen kan nu via de aanbieding die loopt tot 1 NOVEMBER 2022 en dan voor €35.

Ga snel naar onze Tradershop en kies daar uw abonnement via de link https://www.usmarkets.nl/tradershop dan staat u vandaag nog op de lijst en ziet u alle details over de posities die eventueel open staan.

Met vriendelijke groet,
Guy Boscart