Analytics, 10 January 2020
Daily comment Jan 10
- Wall St opens higher after jobs report
- US jobs came in-line with estimate
- House voted to limit Trump authority over Iran
- Iran denied shooting the plane
- WTI -0.9%
Market movers:
- Tesla (+0.1%): Piper Sandler (ex-Piper Jaffray) analyst raised Tesla’ PT to $553 from $423, citing underestimated China growth potential. https://cnb.cx/2saDOeE
- Amazon (-0.1%): The Co. is planning to sell ads on other streaming devices like Apple TV, XBox for the first time. https://on.wsj.com/2uBOiVm
- PayPal (+0.2%): The Co. disclosed it expects to report after-tax gain on strategic investments in 4Q. https://bit.ly/2sVM4zP
Macro:
- US non-farm payrolls for December: +145k vs est. +160k and revised +256k prior month. Unemployment rate stayed at 3.5% in line with est. Wages rose +2.9% vs est. +3.1%. https://bloom.bg/2saUFxV
- The US House of Representatives voted yesterday to limit President Trump power to strike Iran without consultation with Parliament. https://bloom.bg/35HagTH
- Several reports suggested the Ukrainian Boeing 737-800 has been downed by missile. Iran, however denied the allegations. https://cnb.cx/37U3JGS
- Fed’ vice chairman reaffirmed the US economy remains at a “good stage”. https://bloom.bg/2QGldAx
Commodities:
- WTI (-0.9%): Oil futures extended losses amid eased Middle East tensions.
- Seven different US refineries are on the block now, accounting for ~5% of US crude oil processing capacity, according to Reuters. https://reut.rs/2NeLeEZ