Aviate US Summary

The authors of the content on this page from Sept 2012 to June 2017 are:
Market Commentaries: Gary Paulin, Ameet Patel, Paul Moran, Douglas Morton, Oliver Sherman, Ben Brownette, Rob Arnott, James Santo, Neil Campling
Research: Ameet Patel, Paul Moran, Douglas Morton, Oliver Sherman, Rob Arnott, Neil Campling

S&P +0.75% (2021.2), D +0.72% (17251.6), N +1.01% (4560.6), CL1 +0.03% (34.74), Copper +1.14% (213.70), Gold +1.10% (1077.65) 10YrYld -0.01 (2.1934), DXY -0.30% (98.42), Vix -8.50% (18.83).

Markets higher across the board but hardly convincing; Eminis rally 12 points over the last 30 minutes. S&P +70bps from Euro close. Most Short +80bps. Overall volumes lowest for the month, 10% below 20d ave. Spain leads Europe lower (IBEX -3.6%) on disappointing Election result, looks set to close year on lows; IBOV -1.6% looking much the same. EWZ -1.2%. Rates lower; 10yr 2.1881. HYG -30bps / JNK -10bps. DXY -30bps, continues to roll giving a boost to Materials/Gold. XME +1.2% / GDX +1.8%. Oil hits another new low, same names falling with it. Big cover in Nat Gas today, no news, expected to hit 70 in NYC this week! SWN +6%. Solar short covering keeps going, TAN ETF 20% off the lows. No major Earnings or Eco today. On M&A; PEP BOYS +7%, SYGNENTA ADR +1.8%, BAXALTA -1%. COMCAST -10bps deny ITV story. On positive broker notes; FITBIT +5%, TIFFANY +3.7%, AVAGO +4%. APPLE +1.2% bouncing off tough week; RR reiterates Technical Sell, $95 target. Disappointing price action in DISNEY -1.1% despite the record breaking weekend for Star Wars; EA -40bps, AMC -2.6%, IMAX -4.2%. CHIPOTLE -3.5% new low for move, another E. Coli outbreak. TWITTER -4% hits an all-time low. Looking into tomorrow; Earnings expected from ConAgra, Micron and Nike; In Eco, GDP, Existing Home Sales. On Wednesday; PCE, Durable Goods, New Home Sales, Michigan Sentiment.

 

OUTPERFORMERS: Coal +7%, Solar +3.5%, Airlines +2%, SOX +1.9%, Homebuilders +1.5%

UNDERPERFORMERS: Explorers -90bps, Media -20bps, Drillers -20bps, Railroads -10bps, Retail -10bps

COMODS: Nat Gas +7.7%, Nickel +1.4%, Gold +1.4%, Silver +1.4%, Copper +1.3%, Ally +60bps, WTI -90bps, Gasoline -6%

 

Have a good evening.