Analytics, 17 January 2020
Daily comment Jan 17
- Wall St opens higher
- S&P crossed 3,300 mark on Thursday
- China GDP pace is slowest in 29 years
- Alphabet became 4th largest US tech company
- MSFT +0.5%, to launch $1bn climate fund
- TWTR -1.2% on rating downgrade
- WTI +0.4%
Market movers:
- Alphabet (+0.7%) became the 4th largest tech company in the US after its market cap reached $1tn level. https://cnb.cx/362vOub
- Microsoft (+0.5%): The Co. is planning to launch $1bn Climate innovation fund to encourage development of carbon reduction technologies. https://bit.ly/38cPEEz
- Twitter (-1.2%): UBS analyst downgraded its recommendation on stock to “neutral” from “buy, lowered PT to $35 (3.5% upside). https://cnb.cx/2u5NkAq
- Schlumberger (+0.7%): The Co. topped 4Q profit estimate, improved FCF. 4Q rev. +1% y/y to $8.23bn vs est. $8.12bn. Production rev. -2% y/y due to weaker OneStim revenue. 4Q Adj. EPS was $0.39 vs est. $0.37. https://bit.ly/30zrfGK
Macro:
- US Industrial production in December: -0.3% y/y vs est. -0.2% and +0.8% prior revised. https://cnb.cx/3agmA0B
- China GDP slowed to +6.1% y/y in 2019 from +6.6% y/y in 2018, meeting government target of 6% to 6.5%. https://reut.rs/2u8oZKp
- US government will issue 20-y bonds in 1H2020, Treasury Department said. https://on.wsj.com/2uTIvuh
- US-China preliminary trade deal could violate WTO rules, according to EU Commissioner Hogan. https://bloom.bg/2Rki7kM
Commodities:
- WTI (+0.4%): Oil futures advanced supported by signing “phase one” agreement, as China committed to $52.4bn in additional purchases of US energy during until 2022. https://bloom.bg/2ttm3rx
- China crude throughput rose 7.6% y/y reaching 13.04mn bpd in 2019. https://reut.rs/2R3DIz8