Analytics, 20 December 2019
Daily comment Dec 20
- Wall St opens higher amid fresh trade developments
- US-China to sign a deal in January
- US parliament passed spending bill
- US 3Q GDP unrevised
- NKE -1.5% despite 2Q EPS beat
- FB to create its own OS
- WTI +0.1%
Corporate news:
- Amazon (+0.2%): AMZN said its on track to deliver ~3.5bn packages bey the end of 2019 through its in-house delivery network. https://bit.ly/38Zrhvl
- Nike (-1.5%): The Co. reported strong 2Q EPS beat, slightly missed on margins. 2Q Rev. +10% y/y to $10.32bn vs est. $10.08bn. Gross margin was 44% vs est. 44.1%. Adj. EPS+35% y/y to $0.70 vs est. $0.58. https://bit.ly/2EJDPJ3
- Facebook (-0.3%): The tech giant is reportedly developing its own OS in order to reduce dependence on Apple and Google. https://bloom.bg/2sQcYZu
__Macro: __
- The US and China would sign the “phase one” trade agreement in early January, Treasury Secretary Steven Mnuchin said in an interview. https://cnb.cx/2sP5s0E
- China will likely skip World Economic Forum in Davos in January. https://bloom.bg/2reFQdp
- US Senate managed to pass $1.4tn spending bills Thursday to avoid a partial government shutdown. https://bloom.bg/2Mg1Trl
- 3rd revision of US 3Q GDP data came unchanged compared to prior +2.1% y/y (in-line with est.). https://reut.rs/2SfQewr
- Andrew Bailey replaces Mark Carney on the position of the Bank of England governor. https://on.ft.com/2MgJZoj
Commodities:
- WTI (+0.1%): Oil edged higher amid lifted trade optimism.
- UBS lifted its oil price forecast for 1Q 2020 to $60 per barrel, sees 0.3mn bls oversupply in oil market. https://reut.rs/2McUclS
- Exxon Mobile started deliveries of IMO 2020 compliant fuels at new ports: Bloomberg
Coming up:
- On Fri (12/19): Quadruple witching in the US