Treasuries Are Falling Again, But Market Unsure | Morning Moovers
Morning mooers! It is Wednesday, April 17th, the market is open and chugging away toward the green.
My name is Kevin Travers, and here are your morning moovers:
MOOVERS
$United Airlineswas the best-performing stock in the S&P 500 after the firm defied Boeing-related problems to post a narrower-than-expected loss. The industry rose alongside UAL, with $American Airlines climbing 4.8%, and $Delta Air Lines(DAL.US$ climbing 3%.
$Autodesk shares are trading 7% lower Wednesday after the application software company announced that it will not file its annual financial results within the required period.
$ASML Holdingfell 6.8% after its reported earnings and net orders missed expectations, a sign of caution for the chip industry. They made nearly one billion less in net profit compared to the quarter before.
$The Travelers Companies took a 7% hit Wednesday, after the property casualty insurer missed expectations for first-quarter profit.
SECTORS
As sectors go these past few weeks, few have been as stable as Oil and Gas. As tracked by moomoo, the sector of companies that trade, process, or ship Oil has only gone up. Fears of war, inflation pressures and OPEC cuts have all made the oil business a great place to be.
RECAP
Indexes opened higher but cautious after a rough few days, quickly moving from a strong climb to a faltering flat.
The $S&P 500 Index traded up just 0.16% at the time of writing. The $Dow Jones Industrial Average climbed about 0.17%, and the$Nasdaq Composite Index was flat..
MACRO
Tuesday, Federal Reserve Chair Jerome Powell said recent macroeconomic data showed, "a lack of further progress on inflation this year," at a Canadian macroeconomic speaking event in Washington D.C. He said that the Fed will likely need to keep rates higher for a longer until inflation falls.
In response, the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed past 5% briefly, a line not crossed since Nov. of last year. Wednesday treasuries pulled back. The Two Year was down to 4.95%, and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed to 4.62%
"A year from now, we'll have more answers," Powell said. Wednesday, investors can watch for the Fed Beige Book economic summary, and a speech from FOMC Member Bowman.
Mooers, what are you watching today?Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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SPACELIGHT : Whatever. The chatter never stops
Kevin TraversOP SPACELIGHT: Truly never does, but it gives me a job to report about it~!
THEWIZARD SPACELIGHT:
THEWIZARD Kevin TraversOP:
SpyderCall : Sell in May, and go away.
THEWIZARD : Watching how your source media herd ~ Bloomberg, Dow Jones, CNBC, Reuters etc ... skew and collectively echo the narratives for their masters.
Kevin TraversOP THEWIZARD: What masters do you follow?
THEWIZARD Kevin TraversOP: Simple, I just don't read the "News" ..... The mainstream tribe "News" at best, only report about PAST EVENTS, nothing already unknown to an efficient market.
Only price matters, The rest are just smoke, depending on how they were "encouraged" by their ultimate paymasters to lay out the narratives for mass consumption.
" Which masters do you follow? " - You gotta be kidding me!
I'm just one of the many masters of the universe.
If not, I won't be putting my money where my mouth is.
As they say, on Wall Street, money talks, BS walks.
Kevin TraversOP THEWIZARD: okkkk buddy sure thing
THEWIZARD Kevin TraversOP: Thank you Kevin.
It's not like I DON'T KNOW that we have to compete, with some of the best global financial minds, against some of the largest well funded resources, with the most sophisticated written algo programs, maintained by the geekiest quants, managed by renowned, influential and well experienced industry experts, with their vast arrays of complementary financial tools oversight and all at their discretionary disposal, perhaps even privy to ultra large sized incoming / outgoing orders pending executions.
Yet, with all that, I still put my time and money on the line, on most days, when I think it's opportunate to do so.
Of course I'll celebrate every victory and learn from every loss.
Hope that the above would have explicitly stated my own personal and sometimes cynical views about the market's "news" write ups, economic data releases, analyst's "opinions" etc.
I bear NO personal grudges against you. You're just doing your job.
Have a great week ahead Kevin!
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