Analytics, 13 November 2019
Daily comment Nov 13
- Wall St opens lower after Trump comments
- TSLA +1.2% on Germany factory plans
- BABA -1%, won Hong-Kong listing approval
- Nike to stop selling through Amazon.com
- US Core inflation unexpectedly slowed
- WTI -0.1%
Market movers:
- Nike (+1.2%): The Co’ will no longer be selling its products on Amazon.com, saying it had decided to focus on its own direct-sales business. NKE, however, will continue using Amazon’s cloud computing unit. (https://cnb.cx/2q95tM4)
- Alibaba (-1%): The Co obtained an approval for its secondary listing in Hong-Kong, which will reportedly take place by the end of November. (https://bloom.bg/2QdFWMo)
- Tesla (+1.2%): CEO Ilon Mask announced company’ plans to build “Gigafactory 4”-in Germany - its first European factory. (https://reut.rs/352uyHr)
Macro:
- President Trump yesterday’ speech didn’t provide any details over the state of US-China trade talks, however reinstated the possibility of tariff increases in case if no deal is reached. (https://cbsn.ws/2KjjTQD)
- US CPI for October: +1.8% y/y vs est. 1.7% y/y and +1.7% y/y in September. Core CPI +2.3% y/y vs est. +2.4%. (https://cnb.cx/33U4ZIx)
Commodities:
- WTI (-0.1%): Oil slipped amid US-China trade concerns
- According to IEA, the crude oil demand will decline after 2030 amid switching to more efficient electrical cars. (https://bloom.bg/2QfZEHt)
Coming up:
- Fed Chairman Powell speech at the Joint Economic Committee of Congress is scheduled at 11:00 AM (EST)
- Companies to report earnings today: Ctrip, NetApp.
- On Thu (11/14): China retail sales and IP data are due