September 12, 2024 7:52am
After seeing lean positive upside swings; investors should remain neutral hanging-back maybe, watching if or for any follow-on opportunities
The producer price index, reflected a 0.2% rise in wholesale prices in August. That’s in line with expectations, as economists had anticipated a rise of 0.2% last month in the headline and core readings, up from 0.1% and 0.0% previously.
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today!
Never leave an investor uninformed
Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today!
Thursday: The pre-open Dow futures are UP +0.07% or (+30 points), the S&P futures are UP +0.06% or (+3 points) and the Nasdaq futures are DOWN -0.04% or (-6 points)
- U.S. stock futures inched higher Thursday,
- European stocks rallied,
- Asia-Pacific markets rose Thursday
Henry’omics: We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Wednesday: The Dow closed UP +124.75 points or +0.31%, the S&P closed UP +58.61 points or +1.07% while the Nasdaq closed UP +369.65 points or +2.17%
- Wednesday’s advance/decline line ended with a positive close at the close of 23 incliner, 10 decliners and 2 flats
Economic Data Docket: Initial jobless claims, week ending Sept. 7 (230,000 expected, 233,00 previously); Producer Price Index, month-over-month, August (+0.2% expected, +0.1% previously); PPI, year-over-year, August (+0.2% expected, 0% previously)
Wednesday’s RegMed Investors (RMi) Closing bell: “sector dismissed CPI data with a follow-on upside. Despite the heavy selling on Wednesday morning, “uncle algo and his electronic trading dwarfs came into roost. Inflation was moderated in August as the Consumer Price Index (CPI) for August came in line with economist expectations.” … https://www.regmedinvestors.com/articles/13612
Q3/24:
- September – 3 positive and 4 negative close
- August – I neutral, 10 positive and 11 negative closes
- July: 1 market holiday. 1 day off, 6 negative, 1 neutral and 12 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context:
I post about “indication intelligence” looking toward investment conferences … to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Yet again, I am passing on forecasting the daily indications as Producer Price Index (PPI) and initial jobless claims expectation in the aftermarket fluctuated while the pre-open waits for the all-clear alarm … it is still a mix of ups, downs and just unknowns.
The BOTTOM LINE: I keep wondering if … sentiment is moribund.
Wednesday’s roughly 154-point turnaround for the S&P 500 — from the morning’s low to the high of the day near the end of the session — had to do with rising bond yields.
The Dow swung about 910 points from its low to the day’s high, while the Nasdaq saw a roughly 633-point jump.
I don’t believe that sentiment was in the equation; keep overall exposure low and be ready to exit quickly.
As I have joked, “uncle algo and his electronic trading dwarfs” came to roost” will they fly away?
Moving forward, I believe the cell and gene therapy sector equities could be a bit rocky.
- With every dramatic upside for the oversold … it will last a few sessions until trading subtracts the ascension.
Traders and investors are nervous about the coming week’s economic releases …
- Bracing for a busy week of inflation-related data releases. On Wednesday, the highly anticipated Consumer Price Index (CPI) report is due, followed by Initial Jobless Claims and Producer Price Index (PPI) data on Thursday.
Stocks are set to begin reversing Monday's sharp rebound, which saw the major gauges surge over 1% as investors went post-rout bargain hunting.
- Volatility is stalking the markets as investors waver between hopes for a hefty 0.5% rate cut from the Federal Reserve and worries about risks of recession.
Welcome to my world of defining the “grey’ in our universe!
- Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
- The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
- I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. All investments are subject to risks. Investors should consider investment objectives.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives. Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and it’s or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.
