Analytics, 30 December 2019
Daily comment Dec 30
- Wall St opens mixed despite positive trade developments
- US-China to sign phase one this week
- Tesla made first deliveries of China-build Model 3
- Disney’s “The Rise of Skywalker” is set to become another $1bn movie
- VMware completed Pivotal acquisition
- WTI +0.9%
Market movers:
- Tesla (-1.5%) delivered its first Model 3 cars made at Shanghai factory, and plans to ramp up deliveries in January. https://reut.rs/39q9aib
- Uber (-0.6%): LA Mayor is considering implementation of the requirement for ride-hailing companies to use electric cars as part of the city mandate. https://bit.ly/2F256GW
- Disney (-0.4%): “The Rise of Skywalker” brought in ~$72mn in box office over the weekend. Now Disney accounts ~40% of the US box office for 2019. https://cnb.cx/2SD3jQH
- VMware (-0,5%) completed $2.7bn take-over of Pivotal Software. https://bit.ly/2sosBYf
- The number of closed hedge funds exceeded the newly launched ones for the 5th straight year. https://bloom.bg/2MG8efI
Macro:
- China’s VP Liu He will visit the US to sign a “phase one” this week, report said. https://reut.rs/2sxvyFO
- The US is looking for the ways to reach a customs deal with Mexico. https://reut.rs/2Q9O0gU
- The EU new trade commissioner will meet his US counterpart next month over EU/US trade disputes. https://reut.rs/2Qd6BbT
Commodities:
- WTI (+0.9%): Official data showed US inventories fell by 5.47mn bls in the week to Dec. 20. https://bit.ly/2tj4UjP
- Hedge funds increased their net-long positions on WTI by 1% to 402.5k contracts. https://bloom.bg/2tXcyRk
- WSJ analysis showed the actual US shale production will be ~10% less than projected. https://on.wsj.com/357RgNX
Coming up:
- On Tue (12/31): China’s manufacturing PMI is due
- On Wed (1/1): Most global markets will be closed
- On Fri (1/3): US ISM manufacturing PMI