US EQUITY OPEN: Indices open in the red amid a deluge of data while Powell refrains to speak on monpol

Analysis details (14:57)

OPEN: US indices opened in the red, albeit paring some of the weakness, in wake of a deluge of data and further earnings. Regarding data - PPI was softer across the board, although the prior months figures saw chunky revisions higher; Philly Fed and NY Fed headline topped expectations, albeit remained negative, with mixed internals; Jobless Claims were unchanged W/W and in line with consensus; Retail Sales were mixed, as the headline printed 0.1% (exp. 0.0%), but Control surprisingly declined and ex-autos also missed. Sectors have a downward bias as Energy and Consumer Discretionary lag, with Utilities sitting atop of the pile. In terms of stock specific highlights, WMT (-4%) reversed initial gains with potential revenue miss and pricing commentary weighing, while CSCO (+5.5%) impressed. WTI and Brent are down by c. USD 1.90/bbl, and saw pressure in the EZ morning after Trump said the US is getting close to doing a deal with Iran, but pared some of the weakness after a Senior Iranian Official, according to Reuters, said they have not received any fresh US proposal to resolve outstanding issues in the nuclear dispute. Treasuries are firmer with greater gains seen in the short-end. Precious metals (XAU, XAG) are mixed. Spot gold firms, and spot silver weakens. The Dollar is lower, albeit off troughs, with havens (CHF, JPY) outperforming and Antipodeans lagging and seeing weakness vs. the Greenback. Ahead, Banxico rate decision is due, as well as Ukraine/Russia delegations speaking in Istanbul, but doesn’t include Trump/Putin/Zelensky.

STOCK SPECIFICS:

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  Walmart (WMT): EPS & comp. sales topped, but revenue missed; CFO said cannot hold off price increase forever & could start from this month.


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  Cisco (CSCO): EPS beat & raised FY profit view


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  CoreWeave (CRWV): Deeper loss per shr. than expected largely due to $177mln in IPO-related stock-based compensation; To raise CapEx.


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  Dick's Sporting Goods (DKS) to acquire Foot Locker (FL) for ~$2.4bln, or $24/shr; FL closed Wed. at 12.87


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  UnitedHealth (UNH): DoJ is investigating Co. for possible criminal Medicare fraud.


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  Alibaba (BABA): Revenue & EPS light; confident in business outlook


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  Deere & Company (DE): Top & bottom line surpassed exp.; Cut the lower end of its FY net income view


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  Lockheed Martin (LMT): Trump floats possible new F-55 warplane, F-22 upgrade


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  Coinbase (COIN): Criminals targeted customer support agents overseas & account data for a small subset of customers was stolen


• China tightens control over AI data centers, according to The Information.

15 May 2025 - 14:57- ForexData- Source: Newsquawk