Ms Intl. Share Price (MSI)

The Dow extended its winning streak to 7 sessions which it has done on 190 previous occasions since inception in 1896 when 12 companies represented the index.

Yesterday data showed a much bigger than expected increase in jobless claims. This could lead to the Fed lowering rates earlier than most forecasts. Traders remain guarded ahead of a report on US consumer sentiment in May which will include readings on inflation.

On Wall the major averages ended the day just off highs, the Dow some 500 points off its all-time high close of 39,388. On the big board 5 stocks closed in the red the risers led by Home Depot, Cat and GS.

Second line companies were in the news, Equinox, Yeti Holdings and Cheesecake Factory all gained but Airbnb ($147) sank 7% on current revs lower than hoped though the company topped Q1 profit forecasts. Arm Holdings Q4 nos disappointed shares slipped to $102.

Nyse data

Issues 2880

Advances 1986

Declines 805

U/c 89

NH 193

NL 18

T/vol(bn) 3•8

-------------

DJ +331 (39,388)

SP +26 (5214)

NS +28 (18,113)

R2 +15 (1330)

WTI $80

10ytb 4•465%

-----------

MSCI(W) +15 (3411)

Gold Bugs +6 (273)

---------------

Latest :- Vix 13. Brent $84.

Gold $2352. Copper $4•628.

Palm $985. Silver $28•595.

$1•252. €1•161.

FF +40. DF +61.

Morning all.

MSi could post a record high this week or certainly shortly if volumes increase. On Dec 12th, 2023 the shares hit an intraday high of 979 closing the week at 890 after profit takers banked gains.

Bulls are looking at 1000+ before the F/Y results and a big jump in earnings.

Despite a choppy trading session the Dow closed higher for the 6th straight day as dealers price in an expected rate cut sometime in Sept. On the Top 30 big board Amgen, Boeing & JPMC led the risers while Merck and Intel propped up the (9) losers.

CME Groups FedWatch Tool currently indicating an 83% chance of a rate cut in Q3. The BOE are expected to hold rates this time round at 5•25% a 16 year high.

"Name" stocks came under considerable selling pressure. Shopify ($63) tumbled 18% after reporting better profits & revs for their latest Q. The company said revenue growth would slow and would make less profit off each $ of revenue.

Match Group ($30) sank 6% while beating profit forecasts and Intel ($30) fell 2% after saying the US Commerce Dept revoked licensing a Chinese customer. Lyft ($18) the ride hailing cab company revved up 7% on stronger early morning commute and wk/end trips helping to beat forecasts for top and bottom lines.

Arista Networks ($290) climbed 7% for the bigest gain on the 500. Most companies have been reporting stronger profits this Q than analysts had expected.

Nyse data

--------

Issues 2885

Advances 1260

Declines 1547

U/c 78

NH 141

NL 32

T/vol(bn) 3•8

-------------

DJ +172 (39,056)

SP u/c (5188)

NS -6 (18,085)

R2 -3 (1315)

WTI $79

10ytb 4•509%

----------

MSCI(W) -6 (3396)

Gold Bugs +1 (267)

---------------

Latest :- Vix 13. Brent $84.

Gold $2314. Copper $4•560.

Palm $985. Silver $27•705.

$1•249. €1•163.

FF +26. DF -8.

Morning all.

Fears the Fed may be actively considering raising rates kept investors on the sidelines yesterday. After hawkish comments from some Fed Officials, Minneapolis Fed President Neel Kashkari suggested rates need to remain at current levels for an "extended period." He added he could not rule out the Fed raising rates calling the bar for hiking rates "quite high" but not infinite.

Fed Bank of Richmond Pres said he feels the risks are weighted towards more inflation and NY counterpart John Williams said timing of cuts will depend on the totality of incoming data.

Meanwhile equity mrkts were becalmed the major averages were flat as investors decided to take profits despite upbeat earnings from the financial sector. A surprise drop in Disney box office and its TV business saw the shares slump 10% to $105, its bigest drop since 10/22. Disney was the big loser on the big board, 10 of which fell on the day.

Tesla ($176) dropped 4% on data showing the automaker sold 62,167 China made EVs down 18% from last year. Apple ($182) held its first event of the year promoting major updates to its iPads and Pencil & Magic Keyboard via a "livestreamed" launch in London and NY.

The USD reversed an early drop and was last higher against a basket of currencies. Longer dated Treasury yields slipped as traders focused on absorbing $125bn in new supply this week. Oils closed lower on easing supply concerns and Gold gave up earlier gains in subdued trading.

Nyse data

Issues 2891

Advances 1584

Declines 1232

U/c 75

NH 212

NL 16

T/vol(bn) 4•0

-------------

DJ +32 (38,884)

SP +7 (5188)

NS -2 (18,091)

R2 +2 (1318)

WTI $78

10ytb 4•477%

----------

Latest :- Vix 13. Brent $82.

Gold $2319. Copper $4•572.

Palm $1050. Silver $27•580.

$1•248. €1•162.

FF +14. DF +1.

Morning all.

Wall closed higher for the 3rd

straight session as traders price in rate cuts worth 46 points by Sept or Nov. Rates remain at a 23yr high of 5•3%.

On a strong day for equities techs led the headlines, Arm Holdings ($109) gained ahead of results this week with analysts optimistic about future prospects. Also Micron Tech, AMD and Super Micro Computer were on buyers lists.

Paramount Global ($13) edged up after ending talks with Skydance on hopes new suitors Sony & Apollo (fund management) will acquire the company. Sony shares fell on the news after reportedly offering $26bn to acquire the company. Warren Buffet disclosed his exit from Paramount citing personal responsibility for the loss.

Spirit Airlines ($3•37) fell 10% to a record low after reporting weak Q2 nos on more plane groundings and excess capacity forcing the company to discount heavily to fill seats.

On the big board top 30 Disney, IBM & Cat led the 20 risers. Boeing, Apple & Amgen propped up the laggards. The Dow ended up 176 for a 3% ytd gain.

Nyse data

Issues 2896

Advances 2181

Declines 638

U/c 77

NH 169

NL 19

T/vol(bn) 3•9

-------------

Latest :- Vix 14. Brent $84.

Gold $2321. Copper $4•614.

Palm $1050. Silver $27•630.

$1•259. €1•166.

FF +32. DF +16.

Morning all.