US equities open on a weak note, with the market rightly concerned at hot producer prices data. USD +0.4% at 98.02. US 10yr yield is moderately higher at 4.266%
sp’60min
VIX’60min
Summary
PPI headline y/y: 3.3% vs 2.3% prior
Ex food/energy y/y: 3.7% vs 2.6% prior
see> https://market-ticker.org/akcs-www?post=253805
… bad… bad… bad… as some of the mainstream are having renewed doubts about a Sept’17th rate cut… as they should!
An OPEX pin around 6400 is looking far more realistic.
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notable stock: CSCO
Earnings were broadly fine…
EPS 99cents vs 97est. Rev’ y/y +7.6% to $14.67bn vs 14.61est.
The buyers have appeared from the 50dma.
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notable weakness: DE
Earnings were mixed…
EPS $4.75 vs 4.67est. Rev’ y/y -8.6% to $12.0bn vs 10.3est.
The market more annoyed with… lowered guidance.
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notable health: UNH
Early gains +1.5%… but swinging lower.
I have to expect sub $200… in Oct’
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notable retail: AMZN
Helped by a press release from Wedbush.
Momentum due to turn positive late today/early Friday