Nov Buyback Consideration Reaches S$52M in November
Morning Express: Dec. 3, 2019
U.S benchmarks slipped to start the week, and this was healthy. Price action is pointing lower again this morning ahead of the bell after President Trump signaled his willingness to delay a U.S-China trade deal until after the 2020 election. With those December 15th tariffs inching ever closer, risk-sentiment is beginning to get antsy at such elevated levels.
Chart of the Week – Intermediate Term Momentum
Morning Insight: Dec. 3, 2019
Stocks Are Pointing Lower on December 3, On Negative Trade Headlines
UK Sparks: Ferguson Profits Rise 4.8%
Plumbing and heating group Ferguson has issued first-quarter numbers showing underlying trading profits up 4.8% to $433m on revenues 5.3% higher at $5.2bn. The company says the demerger of Wolseley, its UK business, is on track to be completed next year. In the UK, trading profits fell by $3m to $15m on organic revenues down 4.2%. Group gross margins dropped slightly to 29.7% but the company says its full-year expectations remain unchanged.
Closing Bell (Dec 3)
RBA On Hold, While Japan Fiscal Decision Nears
Nasdaq100 (NQ) Daily MACD Negatively Crossing
Securities Lending Report: 11/25/2019 – 11/29/2019
Securities Lending Report: 11/21/2019 – 11/27/2019
The Market Fears a Democratic Sweep, Here’s How to Profit From It
Five Best-Performing Tech Stocks Averaged 78% Return in YTD
SGX lists at least 15 IT stocks with market cap above S$100 million. These 15 companies have operations that span key technology segments, including electronics manufacturing, precision engineering, plastic injection moulding, semiconductors, printed circuit boards, as well as software services and solutions.
Economic Update: Dec. 2, 2019
3Q19 real GDP growth was revised up to 2.1% q/q saar, driven by upward revisions to inventories, housing and consumption, although partially offset by downward revisions to government spending. Looking ahead, consumer spending appears to remain on track, rising 0.3% m/m in October.
On The Pull
With Germany’s unemployment rate unexpectedly falling in November, the country might now dig its heels in more than ever against the European Central Bank (ECB). The ECB has long been calling for Germany to boost its economy through extra public spending, but positive unemployment data might give the country’s policymakers even more reason to pay no attention.
Weekly Market Recap: Dec. 2, 2019
Technology One-Two Software Semi Punch: TSM AMAT NUAN
What’s on Tap Weekly Calendar: Dec. 2 – 6, 2019
Monday December 2nd – Economic Calendar: 9:45 AM EST Markit US Manufacturing PMI, Nov-F; 10:00 AM EST ISM Manufacturing, for Nov; 10:00 AM EST Construction Spending MoM for Oct.
December Ready to Start on Temperate Note
For the stock market, the weather remains pretty temperate. Trade winds have been blowing in a mostly favorable direction, central banks continue to blow hot air into the market with accommodative policies, and economic data have been offering some signs of early spring as it relates to the 2020 growth outlook — growth being the operative word.
Ride Sharing Slapped by Regulatory Crackdown
Weekly Corporate Highlights Dec. 2 – Dec. 6, 2019
Staying on top of corporate events is critical for any investment firm. Here are the selected events from Wall Street Horizon impacting the most widely held securities scheduled for this week. Mon 12/2/2019: General Electric Co. (GE): GE Healthcare Investor Day 2019; Apple, Inc. (AAPL): Apple, Inc. Special App-Focused Event 2019; ASML Holding NV (ASML): Presenting at Credit Suisse 23rd Annual Technology, Media and Telecom Conference 2019
UK Sparks: Ted Baker Warns Of Inventory Overstatement
Fashion retailer Ted Baker has announced that it has discovered that the value of inventory held on its balance sheet has been overstated. Based on a preliminary analysis, the board estimates that there is an “impact on value” of between £20m-£25m. The company believes that any adjustment to inventory value will “have no cash impact and will relate to prior years”. City law firm Freshfields Bruckhaus Deringer has been appointed to undertake a comprehensive review. Ted Baker says that it will also be appointing independent accountants. The group has issued three profit warnings this year and seen the departure of founder and chief executive Ray Kelvin.
Closing Bell (Dec 2)
Chinese PMIs Set The Tone
Corn (ZC) Daily MACD Positively Crossing
Is the Glamour and Growth Trade Finally Turning?
Last week’s “Behind the Markets” podcast featured a discussion with Nir Kaissar, founder of Unison Advisors. Unison provides portfolios to individuals and institutions that leverage academic work on the long-term performance of various investment factors. Kaissar was an early advocate for focusing on valuations to rotate between the various investment factors and asset classes.
Non-Transparent Active ETFs Get Regulatory Nod
The menu of types and styles of exchange-traded funds available to investors keeps growing. The Securities and Exchange Commission just approved four proposals for a new type of exchange traded fund: non-transparent, active ETFs. David Mann, our Head of Global ETF Capital Markets, explains the implications.