Analytics, 18 December 2019
Daily comment Dec 18
- Wall St opens higher despite political turmoil
- House votes on impeachment articles today
- German business expectations improved for the 3rd month
- TSLA plans to reduce Model 3 price in China
- FDX -8% after outlook cut
- WTI -0.6%
Corporate news:
- Tesla (+1.6%) plans to reduce price for the China-produced cars to stimulate demand. https://bloom.bg/2EB6HmJ
- Nvidia (+1.2%): The Co. struck a deal in which Alibaba, Baidu and Didi will use its chips to develop self-driving vehicles. https://reut.rs/2EvuZ1O
- FedEx (-8%): The Co. slashed its next quarter outlook for the 2nd time in a raw amid soft international demand. https://bloom.bg/2PyvFcZ
- Alphabet (+0.2%): Google finally settled Australia tax dispute with $500mn payment. https://reut.rs/2ErBimX
Macro:
- US government is considering new limits on sales of chips and other components to Huawei. https://bloom.bg/2txk0mb
- House of Representatives set to vote today on two impeachment articles: abuse of power and obstruction of Congress. https://bloom.bg/2S4XBH6
- German IFO expectations rose to 93.8 vs est. 93 and prior 92.3. https://bloom.bg/34vBbkD
Commodities:
- WTI (-0.6%): US crude inventories increased by 4.7mn bls last week and gasoline stockpiles by 5.6 mn bls: API data showed.
- Tullow Oil’s production vessel shut down after power outage. https://bloom.bg/2r8WHOI
Coming up:
- On Thu (12/19): Policy decisions by BoJ and BoE.
- On Fri (12/19): Revised US GDP data are due
- On Fri (12/19): Quadruple witching in the US