Analytics, 17 December 2019
Daily comment Dec 17
- Wall St opens higher amid trade optimism
- NFLX +2.5%, disclosed region revenue data
- BA -0.8%, confirmed 737 Max production halt
- GBP fell amid increased hard Brexit risk
- WTI +0.6%
Corporate news:
- FedEx (-0.2%): Amazon is blocking 3-rd party merchants from using FedEx’s Ground and Home delivery for Prime shipments. https://on.wsj.com/2S0GGoZ
- Netflix (+2.5%): The Co. disclosed its revenue by region, seeing potential boom in Asia-Pacific business. https://on.wsj.com/34w4X98
- Boeing (-0.8%): The Co. officially confirmed production halt starting January. Analysts suggest the move could affect US 2020 GDP. https://bit.ly/34v2fAP
- Microsoft (-0.2%): Wedbush analyst raised Microsoft PT from $170 to $185 (upside ~19%), street high, citing cloud strength. https://bit.ly/36FjMaE
- Japan will tighten regulations to prevent big tech such as Google and Facebook from abusing their market power. https://reut.rs/2S0u0hS
Macro:
- Boris Johnson raised the possibility of hard Brexit by introducing a law that makes the extension to the current deadline illegal. https://cnb.cx/34v94lM
Commodities:
- WTI (+0.6%): US stockpiles probably declined by 1.75mn bls last week: Bloomberg survey.
- However, EIA expects US shale production to rise by ~30k bps to 9.12mn bls as soon as January: Bloomberg
- Palladium jumped above $2,000 in a rally driven by global deficit. https://bloom.bg/2M52zQ7
Coming up:
- On Thu (12/19): Policy decisions by BoJ and BoE.
- On Fri (12/19): Revised US GDP data are due