Analytics, 10 October 2019
Daily comment Oct 10
- Wall St opens mixed as trade talks resume
- BBBY +21% after hiring Target’ CMO
- FB’ CEO will testify about Libra at House panel
- HAL +1%, to cut 650 jobs in the Rockies
- Another attempt to reach a Brexit deal
- WTI +1.1%
Market movers:
- Bed Bath & Beyond (+21%): The Co. appointed Target ex-CMO Mark Tritton as new CEO. (https://bit.ly/2M6m4sh)
- Facebook (+1%): CEO Zuckerberg will testify before the US House Financial Services Committee on Oct. 23. (https://reut.rs/2pbrzNi)
- Halliburton (-1%): The Co. cut 650 jobs across four states amid slowing oil and gas activity. (https://reut.rs/33kDQxG)
- Fidelity: The online broker cut trading commissions to zero following the similar move of other brokers. (https://on.wsj.com/2pTsFNN)
Macro:
- US China trade talks is the main topic these days: Reuters report suggests the meeting might be cut short and China delegates will return to Beijing as soon as Friday. (https://reut.rs/313Z8ht)) According to Bloomberg, White House is considering a currency pact with China. (https://bloom.bg/30XxNgF)
- UK PM will meet Irish counterpart today to reach compromise in a Brexit deal. (https://bloom.bg/35heKl3)
- The US CPI for Sep: unchanged m/m vs est. +0.1%. Core CPPI +0.1% vs est. +0.2%. (https://bloom.bg/2nuQ6fw)
Commodities:
- WTI (+1.1%): US crude inventories rose by 2.93mn bls last week: EIA. Earlier, Bloomberg survey showed expectations for 1.9mn bls increase.