2022-01-24 07:55:04 $ECON Economic Data
01/24/22 01/2407:55 01/24/2207:55 | Treasury Market Outlook: stocks are broadly lowerTreasury Market Outlook: stocks are broadly lower paced by losses in European bourses after weaker than expected PMI data and amid geopolitical tensions over Ukraine. The FOMC also looms. The DAX has plunged -2.0%, with the FTSE down -1.27%. U.S. futures are posting declines of -0.77% on the NASDAQ, -0.48% on the S&P 500, and -0.33% on the Dow. Asian markets were mixed with a marginal gains in Mainland Chinese shares after more stimulus from the PBoC. The Nikkei was up 0.24%, but the rest of the region was in the red with the Hang Seng dropping -1.24%. Preliminary PMI readings for Japan showed a struggling services sector, but ongoing improvement in manufacturing, which left the composite in contraction territory for the first time since September 2021. Bonds have been supported by the flight to safety. Gilts have richened 4 bps to 1.127%, with the Bund 3 bps lower at -0.096%. The 10-year Treasury is down 2.3 bps at 1.735%. The wi 2-year is 1 bp cheaper at 1.055% ahead of today's auction. Ahead of Wednesday's FOMC announcement, attention is on a huge week of earnings, though today's slate is rather light. Data includes the December Chicago Fed national activity index, along with flash January Markit manufacturing and services PMIs. |
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Summit Materials management to meet with Stephens »
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Esken price target lowered to 20 GBp from 23 GBp at Canaccord »
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Capstone Copper price target lowered to C$9 from C$10 at Canaccord »
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Orla Mining price target raised to C$7.50 from C$7.25 at Desjardins »
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GFL Environmental price target raised to C$53 from C$51 at TD Securities »
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Verrica Pharmaceuticals downgraded to Hold at Needham after CRL »
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GoPro put volume heavy and directionally bearish »
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Luminar hires CJ Moore from Apple, Taner Ozcelik for technical team »
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Luminar hires Apple's CJ Moore to lead autonomous software team »
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Verrica Pharmaceuticals downgraded to Hold from Buy at Needham »
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Live Nation Co-President calls 'rumors' of slowdown 'greatly exaggerated' »
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West Virginia reaches $161M opioid settlement with Teva, AbbVie »
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Volkswagen settles U.K. emissions class action for $242M, Bloomberg says »
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AMC Entertainment call volume above normal and directionally bullish »
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NASDAQ market internals summary »
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Luminar up 4% to $8.80 after Bloomberg report of Apple hire
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Apple Car director leaves for job at Luminar, Bloomberg reports
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Lumen Technologies put volume heavy and directionally bearish »
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Aerojet Rocketdyne to hold shareholder vote on board factions, WSJ reports »
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May survey of business uncertainty employment growth up 4.61%
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