United shares fall on chip hold problem as broader market

The S&P 500 Index ($SPX) (SPY) is recently down -0.89%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up -0.17%. 1.70%.

Hold indexes have recently combined, with the Dow Jones Industrials posting unbeaten file tops and the Nasdaq 100 falling to a 2-week low. The broader market is under pressure from the decline in chip stocks as the United States may impose tougher restrictions on the Chinese industry and semiconductor production. Bloomberg recently reported that the Biden leadership has told aides it is considering the use of the most severe trade sanctions against chipmakers if they continue to provide China access to complex semiconductor production. Stocks continued their decline as bond accumulation increased due to upcoming US June housing starts and a bigger-than-expected increase in manufacturing output in June.

US June housing starts rose +3.0% m/m to at least 1.353 million, stronger than expectations of 1.300 million. June manufacturing permits, a proxy for year manufacturing, rose +3.4% m/m to at least 1.446 million, stronger than expectations of 1.400 million.

Manufacturing output in the US increased by +0.4% m/m in June, stronger than expected by +0.1% m/m.

Fed Governor Waller said the Fed is getting “close” to cutting rates, although he would like to see “a little more evidence” that inflation is continuing to trend downward.

Williams, the undrafted York Fed president, said tide fed coverage is acceptable until we see “more data.” He said US inflation readings over the past three months are getting us closer to the disinflation trend we are looking for, and I would like to see more data to gain confidence that inflation will continue to meet our 2% target. Is moving towards.

Markets are discounting 99% probabilities for the upcoming FOMC assembly on July 30-31 to reduce the -25bp charge by 5% and please watch the assembly on September 17-18.

Conservation markets in other countries have recently declined. The Euro Stoxx 50 fell to a 2-week low and is -1.12% unhealthy. China’s Shanghai Composite closed down -0.45%. Japan’s Nikkei Hold 225 index fell to a 1-week low and closed down -0.43%.

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September 10-year T-notes (ZNU24) have been unhealthy -4 ticks recently. Ten-year T-note yields are up +2.5bp to 4.183%. September T-notes are under pressure these days due to sharp comments from undefeated New York Fed President Williams, who said that tide Fed coverage is acceptable until we see “more data.” Supply pressures also weigh on T-note prices as the Treasury will auction $13 billion of recently reopened 20-year T-bonds. T-Notes sustained reasonable losses, given the upcoming experience of June housing starts in the US and June manufacturing output rising above estimates.

ECU Executive Bond deposits have been moving higher recently. Ten-year German Bund yields recovered from a 3-week low of 2.408% and rose +1.5bp to 2.442%. Ten-year UK gilt yields are up +4.6bp at 4.094%.

Swaps are being discounted through the ECB at 4% for the July 18 assembly and at 78% for the September 12 assembly on the -25bp charge lower prospects.

US hold movers

Chip stocks are under pressure these days, as Bloomberg reports that the Biden leadership has told aides it is considering using the most severe trade sanctions if companies continue to deny China access to complex chip production . As a result, ASML Keeping NV (ASML) is ungainly over -8% to rule out losers in the Nasdaq 100, and Applied Fabrics (AMAT), Qualcomm (QCOM), and KLA Corp (KLAC) are ungainly over -6%. Are. Additionally, Complex Micro Units (AMD), LAM Analysis (LRCX), and Micron Generation (MU) are unhealthy at more than -5%. Additionally, Super Micro Computer (SMCI), Nvidia (NVDA), Broadcom (AVGO), and Marvell Generation (MRVL) are down more than -4%.

Stocks in the mega-cap generation have been falling recently and their weighting in the general market is increasing. Apple (AAPL) is down more than -2% to rule among the losers in the Dow Jones Industrials. Additionally, Amazon.com (AMZN) and Microsoft (MSFT) are down more than -1%.

Elevance Fitness (ELV) is -4% shy of its upcoming full-year adjusted EPS of $37.20, under the consensus estimate of $37.28.

5 down (five) is unhealthy by more than -15%, with the upcoming forecast Q2 related gross sales will fall by -6% to -7%, weaker than the consensus of -4.66%.

First Horizon (FHN) is down more than -4%, upcoming reporting Q2 adjusted earnings of $819 million, weaker than the consensus of $822.1 million.

American Airways Crew (AAL) is unhealthy by more than -2%, with the upcoming TD Cowen downgrading reserves to store from buy.

GitLab (GTLB) price is up +10% after Reuters reported the company was exploring an upcoming sale attracting interest from potential bidders.

Prologis (PLD) is up more than +4% and raising its full-year EPS forecast to $3.25-$3.45 from a prior estimate of $3.15-$3.35.

Gates Commercial (GTES) is up more than +4% after S&P Dow Jones Indices said reserves will be added to the S&P SmallCap 600 Index before the start of trading on July 22.

US Bancorp (USB) is +3% ahead of upcoming reporting Q2 adjusted EPS of 98 cents, beating the consensus of 94 cents.

Valero Power (VLO) is up more than +3%, with upcoming Mizuho Securities upgrading Reserve from Neutral to Outperform with a price target of $175.

VF Corp (VFC) is up more than +5% and has offered its Ideal Logo to EssilorLuxottica for $1.5 billion in cash.

Ehr Test Techniques (AEHR) is up +17% heading into upcoming reporting, with fall earnings of $16.6 million, exceeding consensus of $15.5 million, and projected total revenue of at least $70 million in 2025, exceeding consensus. is more. Of $67.9 million.

Profit Stories (7/17/2024)

Voters Monetary Crew Inc (CFG), Crown Forte Inc (CCI), Uncover Monetary Products & Services (DFS), Eleven Fitness Inc (ELV), Equifax Inc (EFX), Johnson & Johnson (JNJ), Kinder Morgan Inc (KMI) , Northern Believe Corp (NTRS), Prologis Inc (PLD), Metal Dynamics Inc (STLD), Synchrony Monetary (SYF), United Airways Holdings Inc (UAL), US Bancorp (USB).
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