Analytics, 24 December 2019
Daily comment Dec 24
- Wall St opens higher in a shortened Christmas Eve trading session
- The US markets will close at 1:00 PM (EST) and remain shut tomorrow
- AMD +1.3% on target upgrade
- Uber’ Travis Kalanick to depart from board
- WTI +0.4%
Corporate news:
- Uber (-0.2%): The former Uber CEO Travis Kalanick will depart from the company’s board as soon as 31 Dec. https://cnb.cx/2PQjoAC
- Advanced Micro Devices (+1.3%): RBC Capital raised its PT to Street-high $53 (~15% upside) from $50, citing a strong data center demand. https://bit.ly/2SqySNt
- Boeing (+0.5%): The Co. requested its suppliers to suspend supply of 737 Max parts for 1 month starting mid-Jan. https://bloom.bg/2t1WVI8
- Super Saturday (12/21) sales reached $34.4bn, ~10% higher than Black Friday sales, paced by Walmart, Amazon, Costco and Target. https://bloom.bg/37172eE
Macro:
- New York Fed accepted $24.8bn in bids at overnight repo operation. https://reut.rs/39bbiuc
- China said it will implement supporting measures to address risks of high unemployment. https://reut.rs/2rqfUeX
Commodities:
- WTI (+0.4%): US crude inventories probably fell by 1.7mn bls last week: Bloomberg survey
- Exxon Mobil and its partners produced the first commercial crude from Guyana. The production I n the area is expected to reach 750k bpd by 2025. https://bloom.bg/2Sy0sZt
- Saudis and Kuwait resolved 5-year dispute over shared oil field, agreed to resume production. https://on.wsj.com/2Qhd7Nj
Coming up:
- On Tue (12/25): The US markets will be closed, Merry Christmas!