The AEX indication is +0.4% just below 720 after a pleasant Wall Street yesterday. If we carry this score over the line this afternoon, the short upward trend since more than a month has been confirmed with a new top.
Attention, tomorrow the US is closed for Thanksgiving and Friday is Black Friday.
- European futures open just above zero
- The Americans do that again just below zero, it can all have no name
- In Asia, the major markets are all a few tenths up
- Volatility (CBOE VIX Index) is slowly but surely falling and is now -4.8% at 21.3
- The dollar is down 0.3% to 1.033
- Gold and oil drizzle -0.1% and crypto plus more than 2%, despite shaky reports again. So more
Interest rates are slightly higher at the opening and given the correlation this year with equities, a higher AEX close is just as likely. certainty if Argentina against…
Perhaps not the most important news today, but the most striking? You rarely see such a message from China. Still at Apple too, so it attracts attention.
Hundreds of workers at Apple’s main iPhone-making plant in China clashed with security personnel, as tensions boiled over after almost a month under tough restrictions intended to quash a Covid outbreak https://t.co/97Wcg4tmz4
— Bloomberg Markets (@markets) November 23, 2022
The playing field is very small these days. The AEX (orange) just missed out on a new higher closing position yesterday compared to last week’s 716.43. Intraday, the index still has to tick 718.45. Our ten-year sideways fun along, or is it the other way around? The interest rates do have that name.
At Prosus, the numbers come in parts this round, here’s something after yesterday. Here the Dutch report and Tencent is +1.9% in Hong Kong.
Pharming also has news. What a text, looks like an entry for the National Dictee. Here is this press release in plain English.
Two agenda items stand out today, first of all there are the first estimates of the purchasing managers’ indices for November from these countries. Watch Germany and US again and expectations are again slightly lower than last time. There are also Fed minutes of the latest interest rate decision tonight.
Screendump Bloomberg, tonight it’s about pigeons and hawks, basis points and inflation numbers:
I also have a picture: August 1980, those were the times:
One more, just compare the interest to the valuation. Equities have been a bear market for a long time, but no big, market-wide price declines and not cheap. Whether they will ever become cheap again is a fun discussion, because there are, for example, more and more investors for fewer and fewer shares.
News, advice, shorts and agenda
The most important ABM Financial news since the Amsterdam closing yesterday.
- 08:04 Slightly higher opening AEX expected
- 08:02 New Zealand raises interest rates sharply
- 07:23 Pharming presents new study data
- 07:22 Prosus sees turnover from e-commerce picking up considerably
- 06:58 European stock markets are expected to open higher
- 06:50 Stock market agenda: macroeconomic
- 06:49 Stock market agenda: foreign funds
- 06:48 Exhibition agenda: Dutch companies
- Nov 22 HP sees procrastination among customers
- Nov 22 Stock market update: AEX on Wall Street
- Nov 22 Wall Street closes higher
- 22 Nov Oil price rising
- Nov 22 Wall Street slightly up
- 22 Nov Achmea praises green loan
- 22 Nov European stock markets close higher
The AFM reports these shorts:
The agenda:
18:00 Prosus – Interim figures final.
00:00 HAL – Trading update
1:00 PM Deere – US Fourth Quarter Figures
09:15 Composite Purchasing Managers Index – November (Fra)
09:30 Composite Purchasing Managers Index – November (Ger)
10:00 Composite Purchasing Managers Index – November (eur)
10:30 Composite Purchasing Managers Index – November (UK)
1:00 PM Mortgage Applications – Weekly (US)
2:30 PM Durable Goods Orders – October (US)
15:45 Composite Purchasing Managers Index – November (US)
4:00 PM New home sales – October (US)
4:00 PM Michigan Consumer Confidence – November (US)
4:30 PM Oil Stocks – Weekly (US)
20:00 Federal Reserve Minutes (US)
And then this
Nice and green yesterday:
Stocks rose Tuesday as Wall Street focused on a host of strong earnings reports and the potential for smaller future rate hikes during a holiday-shortened trading week.
The Dow rose 1.18%.
The S&P 500 and the Nasdaq were both up 1.36%. https://t.co/pC7lKKfD6w pic.twitter.com/edC81Kb3MZ— CNBC (@CNBC) November 22, 2022
Next, 12% of the workforce:
HP laying off 4,000-6,000 employees globally over the next three years https://t.co/Br4Xd0GvO5
— CNBC (@CNBC) November 22, 2022
Another one:
Credit Suisse is cutting at least one-third of its investment-banking workforce and about 40% of research staff in China just two months after agreeing to spend $160 million to take full control of its securities business in the country https://t. co/wKBzbBvdnn
— Bloomberg Markets (@markets) November 23, 2022
Oh:
WATCH: Apple’s high-end iPhones will be in short supply at stores this holiday season, Best Buy said, amid production issues due to China’s zero-COVID policy https://t.co/3AE1LWrsPS pic.twitter.com/81hrYMX8IA
— Reuters Business (@ReutersBiz) November 23, 2022
So Barron’s, there’s not a word of Chinese in here:
China might be the only investment opportunity that causes more consternation than cryptocurrencies. It has earned a reputation as the place where Western money goes to die. https://t.co/lOJmL7PZEj
— Barron’s (@barronsonline) November 23, 2022
This is hefty:
China’s purchases of machines to make computer chips have fallen 27% last month from a year earlier as the US imposes new, sweeping sanctions to try and derail the country’s chip ambitions https://t.co/oKfltuJ3A2
— Bloomberg Markets (@markets) November 23, 2022
How stable is stable? Not too stable has already turned out.
Why the $160 billion stablecoin market has regulators worried. (through @CNBCi) pic.twitter.com/Osaqe4yyw3
— CNBC (@CNBC) November 23, 2022
Here the word labile is more appropriate:
FTX was run as a ‘personal fiefdom’ of former CEO Sam Bankman-Fried, attorneys for the collapsed crypto exchange said in its first bankruptcy hearing, as they detailed ongoing challenges such as hacks and substantial missing assets. Read more: https://t.co/unAiCum80F pic.twitter.com/TDT1457I3S
— Reuters Business (@ReutersBiz) November 23, 2022
New York hoddlet between the sliding doors:
New York Governor Kathy Hochul has signed one of the most restrictive laws in the US on regulating cryptocurrency mining https://t.co/hFC3uakG8J
— Bloomberg Markets (@markets) November 23, 2022
Oh yes, Salvador! Is so.
El Salvador’s presidency dispatches a digital-securities bill to lawmakers, taking the nation a step closer to raising $1 billion via the world’s first sovereign blockchain bond https://t.co/gIpOm2CAr1
— Bloomberg Markets (@markets) November 23, 2022
Have fun and good luck today.
