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New: Sandisk (SNDK)Raises: Amazon (AMZN), Uber (UBER), Vistra (VST), Micron (MU)Cuts: Alibaba (BABA), Microsoft (MSFT), Whirlpool (WHR), Meta (META), Qualcomm (QCOM)Exits: American Air (AAL), Owens Corning (OC), Mohawk Industries (MHK), Iqvia (IQV), United Airlines (UAL)Top: Amazon (AMZN), Micron (MU), Alphabet (GOOG), Uber (UBER), TSMC (TSM)(Newswyawk )
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New: Meta (META), Alphabet Class A (GOOGL), SPDR Gold Shares (GLD), Hut 8 Corp (HUT), TransDigm (TDG)Raises: ARS Pharmaceuticals (SPRY).Cuts: Nvidia (NVDA), Union Pacific (UNP), Norfolk Southern (NSC), Capital One (COF), Live Nation (LYV)Exits: PG&E (PCG), Microsoft (MSFT), Brookfield (BAM), Casey's (CASY), CoStar (CSGP)Top: Amazon (AMZN), Telephone & Data Systems (TDS), CRH (CRH), Somnigroup (SGI), Carpenter Tech (CRS).(Newsquawk)
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New: Teradyne (TER), Corning (GLW), MasTec (MTZ), US Foods (USFD), Performance Food (PFGC)Raises: Carpenter Tech (CRS), ASML (ASML), Clean Harbors (CLH), Entegris (ENTG), Talen Energy (TLN)Cuts: KKR (KKR), TSMC (TSM), Vulcan Materials (VMC), Amphenol (APH), Brookfield (BAM)Exits: Broadcom (AVGO), Microsoft (MSFT), DoorDash (DASH), Amazon (AMZN), Philip Morris (PM)Top: Vistra (VST), ASML (ASML), Carpenter Tech (CRS), LPL Financial (LPLA), AppLovin (APP)(Newsquawk)
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New: NoneRaises: Fiserv (FISV), Alkami Technology (ALKT), Cooper Companies (COO).Cuts: Mercury Systems (MRCY), Markel Group (MKL)Exits: Freshpet (FRPT)Top: Mercury Systems (MRCY), Cooper Companies (COO), Fiserv (FISV), Lamb Weston (LW)(Newsquawk )
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New: Delta Air Lines (DAL), Macy's (M)Raises: Google (GOOGL), New York Times (NYT), Lennar (LEN).Cuts: Bank of America (BAC), Chevron (CVX), Constellation Brands (STZ), Nucor (NUE)Exits: Visa (V), Mastercard (MA), UnitedHealth (UNH), Domino's Pizza (DPZ), Aon (AON)Top: Apple (AAPL), American Express (AXP), Coca-Cola (KO), Bank of America (BAC), Chevron (CVX)(Newsquawk)
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New: Linde (LIN), H2O America (HTO), Penumbra (PEN), Berkshire Hathaway Class B (BRK.B), Webster Financial (WBS)Raises: Electronic Arts (EA), Sealed Air (SEE), TSMC (TSM), Honeywell (HON), Nvidia (NVDA).Cuts: Amazon (AMZN), State Street SPDR S&P 500 (SPY), Disney (DIS), Salesforce (CRM), Figure Technology (FIGR)Exits: State Street SPDR S&P Homebuilders ETF (XHB), Take-Two (TTWO), Radian (RDN), Analog Devices (ADI), V2X (VVX)Top: Amazon (AMZN), Electronic Arts (EA), Nvidia (NVDA), TSMC (TSM), Alphabet Class A (GOOGL)(Newsquawk)
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New: Lamb Weston (LW), CarMax (KMX), GPGI (GPGI)Raises: Riot Platforms (RIOT), TripAdvisor (TRIP).Cuts: Gen Digital (GEN), Clearwater Analytics (CWAN), Healthcare Realty Trust (HR), Becton Dickinson (BDX), Fluor (FLR)Exits: Autodesk (ADSK), Salesforce (CRM)Top: Qorvo (QRVO), Kenvue (KVUE), Match Group (MTCH), Algonquin Power (AQN)(Newsquawk)
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New: NoneRaises: CVR Energy (CVI), SandRidge Energy (SD).Cuts: EchoStar (SATS)Exits: Southwest Gas (SWX)Top: Icahn Enterprises (IEP), CVR Energy (CVI), CVR Partners (UAN), Centuri Holdings (CTRI), International Flavors (IFF)(Newsquawk)
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New: Amicus (FOLD)Raises: International Tower Hill Mines (THM), Thryv Holdings (THRY).Cuts: Madrigal Pharma (MDGL)Exits: Solstice Advanced Materials (SOLS)Top: Perpetua Resources (PPTA), Madrigal Pharma (MDGL), Acadian Asset Management (AAMI), Bausch Health (BHC), Novagold Resources (NG)(Newsquawk)
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New: Norwegian Cruise (NCLH), Transocean (RIG)Raises: HP Enterprise (HPE), Seadrill (SDRL), HDFC Bank (HDB).Cuts: Southwest Air (LUV), Triple Flag (TFPM)Exits: iShares iBoxx USD High Yield Corporate Bond ETF (HYG), Bill Holdings (BILL), Sensata (ST), FS KKR Capital (FSK)Top: Triple Flag (TFPM), Phillips 66 (PSX), Suncor (SU), Southwest Air (LUV), HP Enterprise (HPE)(Newsquawk)
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New: MercadoLibre (MELI), Lumentum (LITE), EquipmentShare.com (EQPT), Intel (INTC)Raises: TSMC (TSM), Applied Materials (AMAT), Broadcom (AVGO), Nvidia (NVDA), Spotify (SPOT)Cuts: Microsoft (MSFT), Take-Two (TTWO), Reddit (RDDT), Apollo (APO), AppLovin (APP)Exits: Flutter (FLUT), Veeva (VEEV), Grab (GRAB), Workday (WDAY), Elastic (ESTC)Top: Alphabet Class A (GOOGL), Nvidia (NVDA), Amazon (AMZN), TSMC (TSM), Meta (META)(Newsquawk)
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New: Capital One (COF), Amazon (AMZN)Raises: OneMain (OMF), Pelagos Insurance (PLGO), USA Today (TDAY), Manchester United (MANU).Cuts: Elevance (ELV), Atlas Energy Solutions (AESI)Exits: Regal Rexnord (RRX), Occidental (OXY)Top: Vertiv (VRT), Rocket Cos (RKT), Energy Transfer (ET), Mirion Technologies (MIR), Pelagos Insurance (PLGO).(Newsquawk)
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MON: Holiday: Canada's Victoria Day, Chinese Industrial Production (Apr), Chinese Retail Sales (Apr), Chinese Unemployment Rate (Apr), Swiss GDP (Q1), New Zealand PPI Q/Q (Q1)TUE: RBA Minutes (May), Japanese GDP (Q1), Japanese Capacity Utilisation (Mar), Japanese Industrial Production Final (Mar), UK Jobs (Mar), EZ Balance of Trade (Mar), US ADP Employment Change Weekly, Canadian Inflation (Apr), US Pending Home Sales (Apr)WED: Chinese LPR (May), German PPI (Apr), UK Inflation (Apr), South African Inflation (Apr), EZ Inflation Final (Apr), New Zealand Balance of Trade (Apr), FOMC MinutesTHU: Global Flash PMIs (May), Japanese Balance of Trade (Apr), Australian Jobs (Apr), Swedish Unemployment...
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SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar up, Gold down.REAR VIEW: Trump said he is okay with Iran suspending nuclear programme for 20 years, but there has to be a real commitment; Trump leaves China; Trump said they may or may not approve Taiwan weapons; Iranian Foreign Minister remarked contradictory messages from the US remain the main issue & "we have received messages from the US saying that they are seeking continued talks".COMING UP: Holidays: Canadian Victoria Day. Data: Chinese Industrial Production (Apr), Unemployment Rate (Apr), Retail Sales (Apr). Speakers: BoE's Greene, Mann. Supply: Japan, the EU. Earnings: Baidu,...
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T-notes moved lower across the curve on Friday, with yields rising as higher oil prices added to inflation fears. At settlement, 2-year +6.9bps at 4.084%, 3-year +9.1bps at 4.147%, 5-year +11.3bps at 4.262%, 7-year +11.8bps at 4.428%, 10-year +11.4bps at 4.597%, 20-year +11.3bps at 5.146%, 30-year +10.0bps at 5.130%.
THE DAY: Treasury trade was once again dictated by crude price action and ongoing geopolitical uncertainty. Oil prices rallied throughout the session, weighing on T-notes and pushing yields higher across the curve as inflation concerns rebuilt.
The geopolitical backdrop remains fluid. Iran’s Foreign Minister suggested the US had reached out regarding further negotiations,...
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USD was firmer in response to a global rally in government bond yields as inflation concerns intensified. A longer duration of the conflict is being increasingly considered as we look to conclude another week of no progress towards a long-lasting resolution. Overall, the Trump-Xi meeting offered little new on Iran, apart from both wanting the obvious, the Strait of Hormuz to be open. Trump, speaking to Fox News, said he is okay with Iran suspending its nuclear programme for 20 years, but there has to be a real commitment. Nonetheless, oil prices settled near highs as tangible progress remains to be seen,...
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The crude complex saw gains to end the week on renewed escalation risk as Trump returned from China and attention turned back to Iran. Both Trump and Araghchi were frequently on the wires, with the Iranian Foreign Minister giving more market-moving headlines. Recapping, he said they have received messages from the US saying that they are seeking continued talks, and that Iran is trying to maintain the ceasefire to give diplomacy a chance, and will return to talks if the US is ready for a fair deal. However, he did add that contradictory messages from the US remain the main...
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Referring to the ongoing negotiations between Tehran and Washington, he said: "The Americans have concluded that the negotiations are not going anywhere."(X)
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Told Xi, would appreciate if you release Lai.(Market Source)
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(BBC)
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Holidays: Canadian Victoria DayData: Chinese Industrial Production (Apr), Unemployment Rate (Apr), Retail Sales (Apr)Speakers: BoE's Greene, MannSupply: Japan, the EUEarnings: Baidu, Ryanair(Newsquawk)
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Monday
Holidays: Canadian Victoria DayData: Chinese Industrial Production (Apr), Unemployment Rate (Apr), Retail Sales (Apr)Speakers: BoE's Greene, MannSupply: Japan, the EUEarnings: Baidu, RyanairTuesday
Data: Japanese GDP (Q1), UK Jobs Report (Mar/Apr), Average Earnings (Mar), US ADP Employment Change Weekly, Canadian CPI (Apr)Events: RBA Minutes (Apr)Speakers: RBA's Hunter; BoE's BreedenSupply: The UK, GermanyEarnings: Home DepotWednesday
Data: Chinese LPR (May), German PPI (Apr), UK Inflation Report (Apr), EU Inflation Final (Apr), New Zealand Trade Balance (Apr)Events: FOMC Minutes (Apr)Speakers: Fed's PaulsonSupply: Japan, Germany, the USEarnings: Target, Nvidia, IntuitThursday
Data: Global S&P PMIs Flash (May), Japanese Trade Balance (Apr), Australian Employment Report (Apr), US Initial Jobless Claims (May/16), EU Consumer Confidence Flash (May)Events: Banxico Minutes (May)Speakers: BoJ's Koeda; BoE's TaylorSupply: Spain, France, the UKEarnings: Walmart, DeereFriday
Data: Japanese CPI...
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