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On January 9th, Bernstein analyst Luca Solca stated that the conflict between hedge fund portfolio rebalancing and new capital inflows into the sector could trigger volatility in European luxury goods stocks. Solca pointed out that institutional investors are seeking assurances of a recovery in Chinese consumer confidence and may withdraw from luxury stocks after their recent strong performance. Currently, European luxury goods stocks are generally rising, with Kering and Hermès leading the sector, up 2.7% and 2.6% respectively. LVMH and Brunello Gucci both rose by approximately 2%. Solca stated that Kering, which owns brands such as Gucci and Alexander McQueen, has seen its recent growth primarily driven by balance sheet restructuring, and future growth will face greater challenges, as brand revival is not something that can be achieved overnight.January 9th - Following President Trumps announcement this week of measures to ban institutional investors from purchasing homes, homebuilders continue to face significant uncertainty. Analysts at Zelman Associates stated that much of the uncertainty hinges on whether the ban covers homes "built specifically for rental," a business area that builders have increasingly relied on in recent years. If the ban includes such homes, builders could lose a counter-cyclical source of demand, potentially causing single-family home starts to decline by 5% to 10%. Analysts point out that if the ban excludes such homes, it could actually benefit homebuilders, as new homes would become "the only way for single-family rental operators to seek growth."Mizuho Bank raised its price target for Nvidia (NVDA.O) from $245 to $275.Mizuho Bank raised its price target for Micron Technology (MU.O) from $290 to $390.Mizuho Bank raised its price target for NXP Semiconductors (NXPI.O) from $265 to $285.

S&P 500 (SPY) Tests Support At 3850

Skylar Shaw

Sep 21, 2022 14:51



Ford backs down as traders worry over lowered guidance


As investors dumped equities ahead of tomorrow's publication of the Fed Interest Rate Decision, the S&P 500 fell approaching the 3850 mark.


Following the company's admission that it was experiencing a components shortage, Ford's stock fell by more than 10% during today's trading session. Ford said that it "expects to have around 40,000 to 45,000 cars in inventory at the conclusion of the third quarter missing specific items currently in limited supply." Ford reiterated its $11.5 billion to $12.5 billion adjusted EBIT target for the whole year. The market, however, is concerned that the business may soon have to reduce its outlook.


The material pressure on gold stocks has increased as gold markets have been approaching annual lows. Newmont Corporation, one of the top gold stocks, fell by more than 4% during today's trade.


Considering that WTI oil managed to go below the $84 mark, energy equities are also declining.


Chevron, Schlumberger, and Exxon Mobil are all down more than 1%.


The majority of the top tech stocks are declining. Apple and Tesla, however, are up by more than 1%.


From a broad perspective, the current downturn is significant, and pressure is seen across all market categories. Prior to the Fed Interest Rate Decision, traders minimize their risks because they are concerned that a rate increase of 75 basis points may be accompanied by hawkish remarks from Fed Chair Jerome Powell. Treasury rates reach fresh highs as bond traders worry Powell will be aggressive.

Another Examination Of The Critical Support At 3850

The S&P 500 is trying to close below the crucial support level at 3850. The S&P 500 will move in the direction of the next support at 3825 if it drops below this level. The S&P 500 will be pushed toward the support at 3800 if a move is made below the support at 3825. The next support level, which is at 3780, will be reached if the S&P 500 drops below 3800.


To the upside, the S&P 500 must hold above the 3885 resistance level in order to have a chance of gaining upward momentum soon. 3900 is where the next resistance level is situated. If this level is successfully tested, the following resistance level at 3920 may then be tested.

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