Analytics, 15 January 2020
Daily comment Jan 15
- Wall St opens mixed amid earnings ahead of trade deal signing ceremony
- GS -2.3% on 4Q miss
- TGT -5.3% on sales miss
- Amazon lifts FedEx ban
- US will not cut tariffs before November
- Russia’s government resigns
- WTI -0.3%
Market movers:
- Goldman Sachs (-2.3%): The Co. reported 4Q EPS miss amid increase of expenses. 4Q rev. +23% y/y to $9.96bn vs est. $8.56bn. Other expenses jumped 64.8% y/y to $1.78bn. 4Q EPS -22% y/y to $4.79 vs est. $5.56. https://bit.ly/2NtSU6F
- Target Corp. (-5.3%): Target reported comps rose 1.4% in a November-December period vs +5.7% last year. Comparable digital sales: +19% during the period. https://bit.ly/2TqvyTa
- Amazon (+0.1%): The Co. informed its sellers they can now use temporarily halted FedEx delivery services. https://cnb.cx/2QVVXXe
Macro:
- President Trump and Chinese VP Liu He are due to sign the preliminary trade pact at a ceremony at the White House at 11:30 AM (EST). https://reut.rs/30kKUtQ
- The US will reportedly keep tariffs on China goods until after Presidential election period. https://bloom.bg/2QVNx2g
- Meanwhile, Russia’s government resigned in a move that allows President Putin to make constitutional changes. https://cnb.cx/2QT3MwN
Commodities:
- WTI (-0.3%): OPEC lowered its 2020 demand forecast amid losing market share to US producers. https://reut.rs/2TmCosR
Coming up:
- Companies to report earnings this week: Morgan Stanley and Bank of New York Mellon Corp.