Analytics, 09 December 2019
Daily comment Dec 9
- Wall St opens mixed ahead of FOMC meeting and UK election this week
- China to restrict local use of US tech
- China export unexpectedly declined in November
- DIS reached a record $10bn at global box office
- WTI -0.7%
Corporate news:
- Netflix (+0.8%): Around 17.1mn unique users viewed “The Irishman” during the first 5days after the release. (https://bit.ly/2RKxp4v)
- Disney (+0.3%): “The Frozen II” gathered another $125mn worldwide over the weekend bringing the global box office to the record $10bn. (https://bit.ly/346fS94)
- Financial stability board (FSB) may force Big tech companies entering to financial business to share customers data to prevent unfair competition. (https://reut.rs/2Prj4H7)
Macro:
- Chinese Assistant Commerce Minister said his country hopes to reach a deal with the US as soon as possible. (https://reut.rs/3554Vpz)
- China export in November: -1.1% y/y vs est. +0.8% vs prior revised -0.8%. Export to the US -23% y/y. (https://bloom.bg/36gDpWp)
- China is reportedly restricting the local offices from using the US PCs and software. (https://on.ft.com/2sdkMUQ)
- Fed expanded its balance sheet to $4.07tn by adding another $72.8bn in liquidity to markets. (https://on.wsj.com/2DZhFCz)
- UK Conservative party is set to win a majority, polls show. (https://bloom.bg/36fPGdK)
Commodities:
- WTI (-0.7%): Hedge fund managers cut their net-long bets on WTI by 24%. (https://bloom.bg/2s97Krd)
- Goldman Sachs raised its forecast for the Brent price to $63 from $60 following the OPEC meeting.
Coming up:
- On (12/11): FOMC meeting
- On (12/12): The UK election
- On (12/12-12/13): The EU leaders’ summit
- On (12/15): Scheduled date of Imposition of 15% tariffs on China imports by the US