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DJ +38 (39,043)
SP -10 (5165)
NS -151 (18,068)
R2 +1 (1302)
WTI $80
10ytb 4•204%
----------
MSCI(W) -1 (3396)
Gold Bugs +5 (235)
---------------
Latest :- Vix 14. Brent $84.
Gold $2171. Copper $4•045.
Palm $1105. Silver $25•190.
$1•279. €1•169.
FF +9. DF +61.
-----------
Nyse data
Issues 2923
Advances 1678
Decliners 1138
U/c 107
NH 83
NL 23
T/vol(bn) 4•3
------------
The 500 is in its longest up stretch since 2018 (without a decline of 2%) yet many investors think while the fundamentals are positive they still don't justify current valuations and for S&P to have a strong H2 corporate earnings growth will need to accelerate.
There are some key events coming this week. US PPI nos, retail sales, initial jobless claims and business inventories on Thursday. China property prices on Friday will be closely examined along with BOE inflation survey next week.
US industrial production and consumer sentiment nos from the University of Michigan are out Friday.
The Pentagon pulled out of a plan to spend $2•5bn on a chip grant to Intel, stock fell $2 to $43. Dollar Tree plans to close about 1000 of its 8000 locations in an effort to improve profitability. Recently the company was slapped with a $42m fine for selling cosmetic items out of a rodent infested warehouse. Stock slumped $22 to $129.
And Eli Lilly the worlds largest drug maker is joining Amazon ($177) to expand its nascent business of dispensing weight loss drugs direct to patients via the Amazon on line pharmacy, which will include its hugely popular injection pen.
Big Pharma endorsing Amazon as a distribution partner bolsters Amazons role in healthcare. Expect many more of these arrangements. Shares in Eli Lilly gained $3 to $758.
Morning all.
After a couple of recent wobbles in the MSi sp, it's back to trading the spread so all's well in the world. Vols this week continue to favour the 'buy' side (c.20,500) v (c.14,900) as they have over the last month
Wk 7-10
Sp 850-810
---------
Buys 164,400
Sells 126,200
Trds 363
-----------
Just to emphasise the nos are hard to interpret as every buy has a sell and vice versa but loosely indicates the mood of investors whether bullish or bearish. One would expect to see shares rise in bullish times excepting MSi where they have fallen 40 during wks 7-10.
DJ +235 (39,005)
SP +57 (5175)
NS +267 (18,219)
R2 -4 (1301)
WTI $78
10ytb 4•143%
-----------
MSCI(W) +30 (3397)
Gold Bugs -5 (230)
---------------
Nyse data
Issues 2918
Advances 1553
Decliners 1260
U/c 105
NH 181
NL 25
T/vol(bn) 4•1
------------
Latest :- Vix 14. Brent $83.
Gold $2158. Copper $3•943.
Palm $1050. Silver $24•380.
$1•279. €1•171.
FF +5. DF u/c.
Morning all
DJ +47 (38,770)
SP -6 (5118)
NS -67 (17,952)
R2 -6 (1305)
WTI $78
10ytb 4•100%
----------
MSCI(W) -13 (3367)
Gold Bugs +6 (234)
----------------
Latest :- Vix 15. Brent $82.
Gold $2175. Copper $3•919.
Palm $1017. Silver $24•655.
$1•282. €1•172.
FF +54. DF +55.
------------
Nyse data
Issues 2908
Advances 1413
Declines 1397
U/c 98
NH 127
NL 19
T/vol(bn) 4•9
-------------
Morning all
Tokyo is trading much lower today giving up gains in the previous session the 225 hit a days low of 38,589 down 1100 at lunch. Profit taking in tech started the rout across the market with market heavyweights Softbank, Honda and Toyota being heavily sold. Banks and major exporters were unwanted and among junior technologies there was a rampant selling.
At the close the Nikkei had lost 949.
Elsewhere in Asia NZ, SK, Taiwan and Singapore are all lower but HK bucked the trend up 220 with Shanghai 9 better on bargain hunting. Indonesia is on holiday. Australia's ASX200 is down 150 following the Nikkei slump in Tokyo. Miners, oils and techs are on offer with few takers particularly those companies going xd. Sydney closed at 7698 down 148.
Latest :- Vix 15. Brent $82.
Gold $2178. Copper $3•894.
Palm $1017. Silver $24•485.
$1•285. €1•175. 10ytb 4•07%.
FF -25. DF -35.
Morning all.
Wk 10
Global
Ytd
---------
DJ + 3%
SP +7%
NS +7%
R2 -1%
TK +19%
HK -4%
SH +2%
SHZ -6%
SK +1%
TAIX +10%
KL +6%
SP -3%
JSK +2%
Gold +6%
Oil +6%
Silv +2%
Cop u/c
Palm +9%
DJ -69 (38,723)
SP -34 (5124)
NS -280 (18,018)
R2 -1 (1311)
WTI $78
10ytb 4•080%
-----------
MSCI(W) -11 (3380)
Gold Bugs u/c (229)
----------------
Close :- Vix 15. Brent $82.
Gold $2179. Copper $3•891.
Palm $1017. Silver $24•525.
$1•286. €1•176.
Yen 147. Yuan 7•19.
FF -8. DF +21.
As expected volumes and deals of the last few days could not be sustained after all this is not a Ftse 100 stock where every Tom dick and Harry are piling into Rolls Royce.
Buying shares in an Aim mini conglomerate takes a deal of faith given there are few "come and buy me" pointers and Warren Buffet hasn't signed off on the deal. Add in the bad reputation of the sector which has to be said is somewhat deserved that's a red flag to most investors.
Whatever, the pros and cons of an Aim investment, MSi fell 30 on the week the shares closing at 810-845.
Wk10
MSi
Ytd
---
810-845
L/yr 535
-------
T/trds 169
T/vols 114,500
Buys 74,200
Sells 40,300
Buy % 65
Av trd 678
Av£ 1690
-------------
Ytd
Msi -5%
--------
Aim -•5%
100 -1%
250 -•5%
All -•5%
--------
Morning all.
The Defence of the Realm is safe in Tory hands. Yea, what about the £29bn Black hole in defence spending, highlighted by the Public Accounts Committee leaving us reliant on military allies?
There is no credible plan to fix the hole. The Govt have no interest in the defence of our country hoping our allies will come to our rescue should we call, by then we'll be lucky to have a serviceable gunboat or any front line soldiers other than 'old crocks' (reserves).
I can't see it improving under a Labour Govt not noted for its whole hearted support of our armed forces. Check out Starmers "5 bold missions" none of which included Defence.
MSi regained some of the losses from Wednesdays sell off on the 2nd day of high volumes. A total of c.48,000 shares were traded taking the weeks total to over 100,000 on c.142 bargains dealt. Shares ended at 825.
Has to go down as an anomaly
unless we hear to the contrary today and Friday is not noted for important news to be announced by the board.
The 500 climbed to a record intraday high of 5154 at lunch on the back of chip stocks extending their rally and investors remaining upbeat about the prospects for a June rate cut as inflation continued to decline. Non farm payroll data is out on Friday & will offer further clarity on the state of the labour mrkt. By the close all the major indexes were up the S&P to a closing record (5157) and 8% ahead this year.
Most megacap growth and techs recouped Tuesdays losses with Meta and Nvidia to the fore. Meta put on $18 to $514 while Nvidia continued its unstoppable run adding $20 to $947 at close, breaking records at every turn and has soared 277% this past year.
Others in the limelight inc Micron Tech ($99) and Super Micro ($1192) (it builds servers for Nvidia). Super Micro has skyrocketed at a breakneck pace this year on back of Ai and clients of Schwab pushing the stock.
From a standing start of $9 in 2007 Super M has gained 12,606% all of the gains coming since Jan 2022 and is now valued north of $64bn placing it at no 285 in the most valuable global companies list.
Away from tech mania, Victoria's Secret ($17) everyone's fave lingerie stock slipped 30% on weak forward guidance, a dip in sales & a downgrade from JPM to 'neutral.' Kroger ($55) the grocery giant reported strong F/Y growth and profits nos as it fought to acquire rival Albertsons ($21) which the Fed Trade Commission is trying to block on competition grounds.
Finally welcome Sweden which becomes the 32 member to join the NATO alliance after 200 years of
neutrality. It brings to NATO a very capable Armed Force and a first class defence industry.
--------
Nyse data
Issues 2910
Advances 2005
Declines 804
U/c 101
NH 298
NL 20
T/vol(bn) 4•1
------------
DJ +130 (38,791)
SP +53 (5157)
NS +280 (18,298)
R2 +10 (1312)
WTI $80
10ytb 4•084%
-----------
MSCI(W) +34 (3391)
Gold Bugs +4 (229)
---------------
Latest :- Vix 14. Brent $83.
Gold $2160. Copper 3•919.
Palm $1012. Silver $24•525.
$1•281. €1•170.
FF +8. DF -3.
Morning all.
A lot more interest today (42) bargains dealt by mid afternoon. Mostly on the buy side, which I will update at close of play. Wouldn't usually do this but the volume of business could indicate moves on the horizon?
I'm still trying to fathom the sudden upsurge of interest in a tiny backwaters stock with a hodgepodge of assets, albeit one with a jewel in its crown that has suddenly become flavour of the week? I know enough not to argue with the tape.
Will it pan out? The metrics say its well undervalued but I'm long past this "stock is a raging buy" and all the BS talked about 'story' stocks that lead one down blind alleys.
Decide, take a position and await developments is my advice (not that I usually give any) being a lousy tipster, but on this occasion ....my money is where my mouth is. I have over 80% of my assets in MSi (I know I'm nuts) so it's a home 'home' run while I collect those dividends.
Evening all.
It's all b'ye b'ye b'ye to sell, sell sell this morning in the first half hour of trading. Always good to start the day in a positive mood as yesterday's action looks like proving to be an anomaly.......... dare i say that?
At c.100p off early January's 900-940 high there's certainly room for investors to build up a decent holding even if the MMs are keeping a rein on the sp. The tight spread is proving a barrier to overcome as most of the trades are c.800-820.
We shall see as the day progresses whether a break out is likely. I think we need some more concrete news for that to occur as buy volume is having little effect on the sp.
Morning Tav. Did your move into jds work out for you? I remember you said you might switch from MSi to JDS....
I dunno what got into investors yesterday, 72 trades was way above previous knowns, so something odd occurred.
Whatever the 55p fall in the shares seemed well overdone on sells just outpacing buys on the session though total volumes at nearly 42,000 was a big increase on Tuesdays c.11,300, (11) trades.
I topped up but not enough to move my avc dial. Be interesting if today sees anything approaching yesterday's deals and vols or was it an out-of-the-blue one off event instigated by the MMs?
I find that difficult to believe but something happened! Perhaps today will reveal the cause of all the excitement?
DJ +76 (38,661)
SP +26 (5105)
NS +120 (18,018)
R2 +4 (1302)
WTI $79
10ytb 4•122%
-----------
MSCI(W) +20 (3357)
Gold Bugs +4 (225)
----------------
Latest :- Vix 14. Brent $83.
Gold $2155. Copper 3•880.
Palm $1012. Silver $24•265.
$1•273. €1•168.
FF +2. DF -26.
Morning all.
Time to add imv.
Even stranger things (geddit?) well maybe not. A total of 50 trades goodness me anyone would think the bod had a word to say....OK that's wishful thinking I know. Regardless we just go up and down within the spread great for the MMs but pointless for you and me. Have a good afternoon and wait for the closing price which will be 840-870 as it has been for many weeks, so all the "huff and puff" of today has been a waste of space. That's OK by me as it mostly is in these crazy mrkts. I keep my strong buy recommend on the nos so far as I have heard nothing to dissuade me.
I haven't collated today's trade deals or vols but a quick look methinks buy volume outpaces sell and that's a signal to sell if ever I saw one.
Afternoon all.
What a strange day, 30 trades before midday...
Wall St fell on weakness in big tech as investors turned sellers of the "Mag 7" which have been driving the 500 to record highs this last 12 months at the expense of the wider market.
Apple fell to a 4 month low and the 5th day in a row on news sales in China fell 24% in the first 6 weeks of this year due to increaed competition from Huawei up 64%. Chinese consumers are abandoning US tech in favour of homemade products like the MATE 60 featuring a Chinese made chip.
Tesla ($181) fell 5% on news its European gigafactory near Berlin halted production after a suspected arson attack. The stock has been a very poor performer this year down 27%.
The major indexes had a bad day the Dow off 405, the S&P down 52 and the Nsdq fell 329
as investors snatched profits. The economic news was a mixed bag showing slower services industry growth in Feb but offset by new orders growing to a 6 month high signalling continued strength in the sector confirmed by the latest PMI nos.
Issues 2912
Advances 1188
Declines 1638
U/c 86
NH 167
NL 37
T/vol(bn) 4•4
-------------
DJ -405 (38,585)
SP -52 (5079)
NS -329 (17,898)
R2 -6 (1298)
WTI $78
10ytb 4•152%
-----------
MSCI(W) -25 (3337).
Gold Bugs +1 (221)
----------------
Latest :- Vix 14. Brent $82.
Gold $2126. Copper $3•850.
Palm $985. Silver $23•865.
$1•271. €1•170.
FF +9. DF +10.
Morning all.
Wall St briefly managed to turn positive in the final hour but failed to find support and ended slightly down on the day as investors paused for breath ahead of a week packed with key data.
Job (non farm) nos and Fed Chair Powells congressional testimony report coming on Wed and Thursday where traders price in a 70% chance for a June rate cut will be most watched for any signs of the economy cooling.
Investors were most active in the tech space as megacaps were sold off. Apple fell $5 to $175 after a $2bn EU antitrust fine for preventing Spotify and other music streamers from informing users of other payment options outside its App store.
Micron, Arm & Taiwan SC headed higher on back of Nvidia's mrkt cap closing above $2tn for the first time. The stock gaining $36 to $858 after $875 high. Super Micro ($1074) jumped 18% ahead of its inclusion in the S&P 500 index. SM stock has soared from c.$5bn in 2022 to over $60bn this week. MACY'S jumped 16% after Arkhouse management raised their all cash offer to $24, valuing the store at $6•6bn.
Nyse data
Issues 2921
Advances 1218
Decliners 1613
U/c 90
NH 289
NL 36
T/vol(bn) 4•8
-------------
DJ -97 (38,990)
SP -6 (5131)
NS -76 (18,226)
R2 -7 (1304)
WTI $78
10ytb 4•213%
-----------
MSCI(W) -2 (3362)
Gold Bugs +10 (220)
----------------
Latest :- Vix 13. Brent $83.
Gold $2116. Copper $3•850.
Palm $972. Silver $23•960.
$1•268. €1•168.
FF -21. DF -84.
Morning all.
MSi-DS will be at the UAS Technology Conference in London on the 16-17th April. More info available on ADVFN board.
Japan's Nikkei burst through the 40,000 barrier at mid session gaining 324 points to an intra-day all-time high at 40,315. Stocks were boosted by a weaker yen v the USD, core inflation of 2% dropping to it's lowest level in 22 months and demand for tech & computer related stocks.
While equities cont to climb new highs the BOJ keeps pumping money into a struggling economy which slipped back into a technical recession late last year. In the face of deflationary worries the BOJ has been easing credit facilities to companies and the general public in an effort to boost spending.
Currently overseas investors are the bigest volume traders on the Nikkei which ended the day up 187 at 40.098. Unexpectedly Japan slippeddown the leaderboard in the global economic 'heft' stakes relegated to number 4 behind the US, China and Germany.
On other Pacifica exchanges Sydney closed down 12 at 7745 after touching 7769 an all-time high. Elsewhere Taiwan and S.Korea closed 2% and 1% better both near record highs, while Shanghai and Hong-Kong plod along little changed. Indonesian regions are mixed with small gains in KL while Singapore and Jakarta are slightly lower on local factors.
Latest :- Vix 13. Brent $84.
Gold $2081. Copper $3•848.
Palm $1015. Silver $23•245.
$1•266. €1•167. WTI $80.
10ytb 4•212. FF -13. DF -52.
Morning all.
DJ +91 (39,087)
SP +40 (5137)
NS +259 (18,303)
R2 +6 (1311)
WTI $80
10y/tb 4•185%
------------
MSCI(W) +27 (3364)
Gold Bugs +7 (211)
----------------
Close :- Vix 13. Brent $83.
Gold $2082. Copper $3•859.
Palm $1015. Silver $23•345.
Yen 150. Yuan 7•20.
$1•265. €1•167.
Morning all.
MSI data
Wk 9
-------
840-870
L/yr 560
High 935
Low 443
-------
T/trds 70
T/vols 61,600
Buys 32,100
Sells 29,500
Buy% 52
Avtrd 885
Av£ 696
ADN 12,400
-----------
Ytd
Msi -2%
Ftse -1%
All -1%
250 -3%
Aim -2%
Good morning all.