| To: FJB who wrote (88329) | 4/29/2022 4:50:53 PM | | From: Elroy | | | | Adding to the supply crunch is the fact that TSMC is gobbling up chipmaking equipment, making tools hard to come by, Gelsinger said.
This explanation is nonsense. Intel can just pay more than TSMC for the same tool, and tools will be easy to come by, and TSMC will have a shortage of tools problem.
Intel should buy SIMO using Intel stock. SIMO is a cash generating machine, and Intel is going to need cash to pay the R&D necessary to "catch up" to TSMC.
These days almost every PC needs a NAND flash controller chip to make it work, why no one wants to buy SIMO is beyond me. SIMO's forward PE off of 2022 EPS is about 9x......maybe less. |
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| To: Return to Sender who wrote (88324) | 4/30/2022 1:46:54 PM | | From: Return to Sender | | | | BPNDX Fell 2 to 29 PnF Buy Signals - [CDNS INTC MELI TMUS VRSN removed MTCH TSLA ZM added]
| Mon | Tues | Wed | Thur | Fri | | ADP | ADP | ADP | ADP | ADP | | AEP | AEP | AEP | AEP | AEP | | AMGN | AMGN | AMGN | AMGN | AMGN | | ATVI | ATVI | AZN | AZN | AZN | | AVGO | AZN | BIIB | BIIB | BIIB | | AZN | BIIB | CSX | BKNG | BKNG | | BIIB | CSX | DLTR | CDNS | CSX | | BKNG | DLTR | EBAY | CSX | DLTR | | CPRT | EBAY | EXC | DLTR | EBAY | | CSX | EXC | FAST | EBAY | EXC | | DLTR | FAST | INTC | EXC | FAST | | EBAY | INTC | JD | FAST | JD | | EXC | JD | KDP | INTC | KDP | | FAST | KDP | KHC | JD | KHC | | INTC | KHC | MAR | KDP | MAR | | KDP | MAR | MELI | KHC | MNST | | KHC | MNST | MNST | MAR | MTCH | | KLAC | PAYX | NTES | MELI | NTES | | MAR | PEP | PAYX | MNST | ODFL | | MNST | ROST | PEP | NTES | PAYX | | PAYX | SIRI | ROST | ODFL | PEP | | PEP | TMUS | SIRI | PAYX | QCOM | | ROST | VRSK | TMUS | PEP | ROST | | SIRI | VRSN | VRSK | QCOM | SIRI | | TMUS | VRTX | VRSN | ROST | TSLA | | TSLA | XEL | VRTX | SIRI | VRSK | | TXN |
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| To: Return to Sender who wrote (88326) | 4/30/2022 1:56:03 PM | | From: Return to Sender | | | | 10 New 52 Week Lows on the NDX on Friday and No New 52 Week Highs:
New Lows:
| Mon | Tues | Wed | Thur | Fri | | ADBE | ADBE | ADBE | ALGN | ADBE | | ADSK | ADSK | ADSK | CHTR | AMZN | | ALGN | ALGN | AMAT | CMCSA | CHTR | | AMAT | AMAT | ANSS | IDXX | CMCSA | | ANSS | ANSS | ASML | ILMN | IDXX | | CHTR | CHTR | CHTR | NFLX | INTC | | FB | FB | FB | OKTA | OKTA | | ISRG | IDXX | IDXX |
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| To: Return to Sender who wrote (88333) | 4/30/2022 1:58:11 PM | | From: Return to Sender | | | |
Market Snapshot
briefing.com
| Dow | 32977.21 | -939.18 | (-2.77%) | | Nasdaq | 12334.63 | -536.89 | (-4.17%) | | SP 500 | 4131.93 | -155.57 | (-3.63%) | | 10-yr Note | -7/32 | 2.908 |
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| | NYSE | Adv 635 | Dec 2457 | Vol 1.4 bln | | Nasdaq | Adv 1301 | Dec 3145 | Vol 4.7 bln |
Industry Watch
| Strong: None |
| | Weak: Consumer Discretionary, Real Estate, Information Technology |
Moving the Market
-- Stocks sell off to close out disappointing month
-- Amazon.com (AMZN) drops 14% on disappointing guidance
-- Apple (AAPL) warns of higher supply chain costs
-- Lingering concerns about the Fed's tightening plans amid persistent inflation pressures and slower growth prospects
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Stocks sell off to close out a disappointing month
29-Apr-22 16:15 ET
Dow -939.18 at 32977.21, Nasdaq -536.89 at 12334.63, S&P -155.57 at 4131.93
[BRIEFING.COM] The S&P 500 dropped 3.6% on Friday in an orderly retreat fueled by disappointing earnings news and sticky inflation pressures. The Dow Jones Industrial Average (-2.8%) and Russell 2000 (-2.9%) both declined 2.8% while the Nasdaq Composite underperformed with a 4.2% decline.
The losses were widespread: all 11 S&P 500 sectors closed lower with losses ranging from 2.0% (materials) to 5.9% (consumer discretionary); 28 of the 30 Dow components closed lower; and declining issues outnumbered advancing issues by a 4:1 margin at the NYSE and a 5:2 margin at the Nasdaq.
Amazon.com (AMZN 2485.63, -406.30, -14.1%) was the biggest drag on the market, falling 14% on downside revenue and operating income guidance for the second quarter. The disappointing guidance reminded investors about the slower growth prospects in an inflationary environment.
Pricing pressures were further illustrated by Apple's (AAPL 157.65, -5.99, -3.7%) warning of higher supply chain costs for fiscal Q3, the 6.6% year-over-year increase in the PCE Price Index for March, and the 1.4% increase in the Q1 Employment Cost Index (Briefing.com consensus 1.1%). Note, Apple topped earnings expectations.
Intel (INTC 43.59, -3.25, -6.9%), Chevron (CVX 156.67, -5.12, -3.2%), and Exxon Mobil (XOM 85.15, -2.05, -2.4%) also fell sharply following their earnings reports, while Honeywell (HON 193.51, +3.59, +1.9%) closed higher after providing pleasing earnings results and guidance.
More relevantly, the inflation data reinforced expectations for the Fed to shift to a tighter policy stance with the intent to rein in inflation pressures. The CME FedWatch Tool was pricing in an 88.4% probability for a 75-basis-point rate hike in June in addition to a 50-basis-point hike next week.
These expectations were also evident in the Treasury market, where the 2-yr yield increased five basis points to 2.69% and the 10-yr yield increased two basis points to 2.89%. The U.S. Dollar Index decreased 0.4% to 103.20. WTI crude futures decreased 0.3%, or $0.28, to $105.03/bbl.
Separately, Elon Musk said he had no plans to sell more shares of Tesla (TSLA 870.76, -6.75, -0.8%) after selling over $8 billion worth of stock this week.
Reviewing Friday's economic data:
- Personal income increased 0.5% month-over-month (Briefing.com consensus 0.4%) following an upwardly revised 0.7% increase (from 0.5%) in February. Personal spending jumped 1.1% month-over-month (Briefing.com consensus 0.6%) following an upwardly revised 0.6% increase (from 0.2%) in February. The PCE Price Index surged 0.9% month-over-month, which took the year-over-year rate to 6.6% from 6.3% in February. The core PCE Price Index, which excludes food and energy, was up a more modest 0.3%, as expected, leaving the year-over-year increase at 5.2% versus 5.3% in February.
- The key takeaway from the report is that real disposable personal income declined 0.4% in March, which helps explain why the personal savings rate, as a percentage of disposable personal income, dipped to 6.2% from 6.8%. In other words, consumers were spending out of savings presumably to maintain their standard of living in the face of higher costs.
- The Q1 Employment Cost Index increased 1.4% (Briefing.com consensus 1.1%) on a seasonally adjusted basis for the three-month period ending in March. Wages and salaries, which account for about 70% of compensation costs, increased 1.2% and benefit costs, which make up the remainder of compensation costs, increased 1.8% for civilian workers.
- The key takeaway from the report is that wages and salaries for workers were up from the same period a year ago, yet those gains have increasingly been subsumed by inflation, evidenced by the 7.0% increase in the PCE Price Index seen in the advance Q1 GDP report.
- The final University of Michigan Index of Consumer Sentiment for April dropped to 65.2 (Briefing.com consensus 65.7) from the preliminary reading of 65.7. The final reading for March was 59.4. The April uptick was nice to see, although the April reading is one of the lowest readings over the last 10 years.
- The key takeaway from the report is that the improvement was driven largely by an expectation that gas price increases will moderate significantly, but even so, there wasn't much improvement in the overall sentiment index, which is trolling its worst levels in the past decade.
- The Chicago PMI for April decreased to 58.5 (Briefing.com consensus 62.0) from 62.9 in March.
Looking ahead, investors will receive the ISM Manufacturing Index for April and Construction Spending for March on Monday.
- Dow Jones Industrial Average -9.3% YTD
- S&P 500 -13.3% YTD
- Russell 2000 -17.0% YTD
- Nasdaq Composite -21.2% YTD
Crude futures settle lower but remain elevated
29-Apr-22 15:30 ET
Dow -750.00 at 33166.39, Nasdaq -454.51 at 12417.01, S&P -134.18 at 4153.32
[BRIEFING.COM] The S&P 500 is now down a steep 3.1% amid a dearth of buying interest.
One last look at the S&P 500 sectors shows ten sectors down at least 2.0%, with consumer discretionary down 5.5%. The materials sector is down the least with a current 1.3% decline.
WTI crude futures settled lower by $0.28 (-0.3%) to $105.03/barrel. |
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| To: Return to Sender who wrote (88331) | 5/2/2022 4:00:21 PM | | From: Return to Sender | | | | BPNDX Fell 3 to 26 PnF Buy Signals - [BKNG MAR VRTX removed]
| Fri | Mon | | ADP | ADP | | AEP | AEP | | AMGN | AMGN | | AZN | AZN | | BIIB | BIIB | | BKNG | CSX | | CSX | DLTR | | DLTR | EBAY | | EBAY | EXC | | EXC | FAST | | FAST | JD | | JD | KDP | | KDP | KHC | | KHC | MNST | | MAR | MTCH | | MNST | NTES | | MTCH | ODFL | | NTES | PAYX | | ODFL | PEP | | PAYX | QCOM | | PEP | ROST | | QCOM | SIRI | | ROST | TSLA | | SIRI | VRSK | | TSLA | XEL | | VRSK | ZM | | VRTX |
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| From: Return to Sender | 5/2/2022 4:45:46 PM | | | | | |
Market Snapshot
briefing.com
| Dow | 33061.50 | +84.29 | (0.26%) | | Nasdaq | 12536.01 | +201.38 | (1.63%) | | SP 500 | 4155.38 | +23.45 | (0.57%) | | 10-yr Note | -27/32 | 2.997 |
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| | NYSE | Adv 1319 | Dec 1743 | Vol 1.1 bln | | Nasdaq | Adv 2306 | Dec 1977 | Vol 4.8 bln |
Industry Watch
| Strong: Communication Services, Information Technology, Consumer Discretionary, Energy |
| | Weak: Real Estate, Consumer Staples, Utilities, Health Care, Materials |
Moving the Market
-- Major indices recoup intraday declines and close higher
-- 10-yr yield hits 3.00% for first time since December 2018
-- April ISM Manufacturing Index misses expectations
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Major indices reclaim intraday losses and some
02-May-22 16:20 ET
Dow +84.29 at 33061.50, Nasdaq +201.38 at 12536.01, S&P +23.45 at 4155.38
[BRIEFING.COM] The S&P 500 advanced 0.6% on Monday, overcoming a late 1.7% decline, even as the 10-yr yield reached 3.00% for the first time since December 2018. The Nasdaq Composite gained 1.6%, the Russell 2000 gained 1.0%, and the Dow Jones Industrial Average gained 0.3%.
The first trading day of the month had picked up where April left off: the path of least resistance remained to the downside as investors fretted over the negative price action, rising rates, growth prospects, and the Fed's policy decision this week.
The market, however, turned it around in the last 75 minutes of action without a specific catalyst to account for the move. Sentiment might have simply gotten too bearish, or the buying opportunities might have been too good, with the S&P 500 falling to its lowest level since last May.
A bargain-hunting mindset lifted the S&P 500 information technology (+1.6%), communication services (+2.4%), and consumer discretionary (+1.4%) sectors to the top of the standings, accompanied by the high-flying energy sector (+1.4%).
The real estate (-2.6%), consumer staples (-1.3%), utilities (-1.0%), health care (-0.7%), and materials (-0.3%) sectors were the weakest performers.
The growth stocks performed fairly well despite the rise in the 10-yr yield, which did settle at 3.00% (up 11 basis points). More surprisingly, the Treasury yield curve steepened (2-yr yield rose 4 bps to 2.73%) despite relatively disappointing manufacturing data out of the U.S. and China.
Briefly, the April ISM Manufacturing Index decreased to 55.4% (Briefing.com consensus 57.9%) from 57.1% in March. China's Manufacturing PMI (47.4) fell deeper into contraction territory amid the COVID-19 outbreaks. On a related note, Beijing reportedly tightened coronavirus restrictions on Sunday.
Apple (AAPL 157.96, +0.31, +0.2%) and Amazon.com (AMZN 2490.00, +4.37, +0.2%), however, both increased just 0.2%, tempering the 1.3% gain in the Vanguard Mega Cap Growth ETF (MGK 206.88, +2.59, +1.3%). Recall, both stocks sold off following their earnings reports last week.
In related news, Apple received a notice from the European Commission of its preliminary view that the company abused its dominant position in markets for mobile wallets on iOS devices. Amazon was removed from the Best Ideas List at Wedbush.
WTI crude futures increased 0.1%, or $0.08, to $105.11/bbl. The U.S. Dollar Index increased 0.7% to 103.65.
Reviewing Monday's economic data:
- The April ISM Manufacturing Index decreased to 55.4% (Briefing.com consensus 57.9%) from 57.1% in March. A number above 50.0% is indicative of expansion. April marked the 23rd consecutive month of expansion in the manufacturing sector, although the April reading is the lowest since July 2020.
- The key takeaway from the report is that manufacturing activity is being held back by COVID issues abroad, ongoing supply chain problems, inflation pressures, and labor constraints that have made it challenging to satisfy demand and which have also detracted from demand.
- Total construction spending increased 0.1% month-over-month in March (Briefing.com consensus 0.8%) following a 0.5% increase in February. Total private construction increased 0.2% month-over-month while total public construction decreased 0.2%. On a year-over-year basis, total construction spending was up 11.7%.
- The key takeaway from the report is that, other than residential spending, there wasn't much strength in spending activity in either the private or public sectors.
- The final IHS Markit Manufacturing PMI for April decreased to 59.2 from 59.7 in the preliminary reading.
Looking ahead, investors will receive Factory Orders for March and the JOLTs - Job Openings report for March on Tuesday.
- Dow Jones Industrial Average -9.0% YTD
- S&P 500 -12.8% YTD
- Russell 2000 -16.1% YTD
- Nasdaq Composite -19.9% YTD
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| To: Return to Sender who wrote (88335) | 5/3/2022 4:01:44 PM | | From: Return to Sender | | | | BPNDX Rose 1 to 27 PnF Buy Signals - [AMD added]
| Mon | Tues | | ADP | ADP | | AEP | AEP | | AMGN | AMD | | AZN | AMGN | | BIIB | AZN | | CSX | BIIB | | DLTR | CSX | | EBAY | DLTR | | EXC | EBAY | | FAST | EXC | | JD | FAST | | KDP | JD | | KHC | KDP | | MNST | KHC | | MTCH | MNST | | NTES | MTCH | | ODFL | NTES | | PAYX | ODFL | | PEP | PAYX | | QCOM | PEP | | ROST | QCOM | | SIRI | ROST | | TSLA | SIRI | | VRSK | TSLA | | XEL | VRSK | | ZM | XEL |
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