31
Oct

Thursday Morning – Earnings Avalanche

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Market Sentiment Watch: Fed cut as expected, back to China focus now which is said to have cast doubt on a comprehensive deal with the U.S. overnight. In energy land another busy earnings day.  In today's post please find the oil inventory review (low quality miss on crude due to reversal off decades record lows for imports, other internals solid), the natural gas preview, comments on the WPX quarter (slight miss on mix, maybe costs, but guiding up without higher spend), comments on the OII quarter (miss, reiterating 2019, guiding stronger 2020), comments on a number of other names, and some other odds and ends. No results today are what we'd call "standout".  Our comments are more brief than usual due to high report volume. If something is not clear or addressed please ask in the comments section below.  Our best thoughts to California. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 215,000, last week was 212,000),
  • We get personal income at 8:30 am EST (F = 0.3%, last read was 0.4%),
  • We get consumer spending at 8:30 am EST (F = 0.3%, last read was 0.1%),
  • We get Chicago PMI at 9:45 am EST (no forecast, last read was 47.1). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - WPX, OII, PESX, SPWR, CLR
  5. Odds & Ends

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30
Oct

Wednesday Morning – Earnings Mini Avalanche

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Market Sentiment Watch: Busy day and will get busier from here. . In today's post please find the oil inventory preview (expecting positive looking numbers relative to consensus for crude and time of year; API was messy, literally, see below), the natural gas inventory preview (only a few injecting weeks left in the season, cold to start to show more next week), comments on the LBRT quarter, comments on the ENPH quarter, comments on the VNOM quarter, comments on the CXO quarter, comments on the AR quarter,  and some other odds and ends.  Given the high number of calls today some of our comments in the post may be more brief than usual. If you have a question or if something is not clear please ask in the comments section.   

Ecodata Watch:

  • ADP payrolls came in at 125,000 vs 100,000 expected and 135,000 last month. 
  • We get 3Q19 GDP at 8:30 am EST (F = 1.7%, last read was 2.0%),
  • We get the FOMC announcement at 2 pm EST (consensus calls for a quarter point cut) followed by the Jerome Powell press conference.  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - LBRT, VNOM, ENPH, CXO, AR
  4. Odds & Ends

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29
Oct

Tuesday Morning – COP, Earnings Previews

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Market Sentiment Watch: Energy focused on OPEC+ member comments and inventories. In today's post please find another set of earnings previews, comments on the COP quarter, the oil inventory preview, and some other odds and ends. 

Ecodata Watch:

  • We get Case-Shiller at 9 am EST (no forecast, last read was 3.2%),
  • We get consumer confidence at 10 am EST (F = 127.8, last read was 125.1),
  • We get pending home sales at 10 am EST (no forecast, last read was 1.6%).  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today – 3Q19 Week 3 Part 2 Preview, COP
  4. Odds & Ends

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28
Oct

Monday Morning

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Market Sentiment Watch: Busy earnings and economic data week ahead. Please see the Calendar page for the 3Q19 list as well as for the previews for this week (parts 2 and 3 of the previews). In today's post please find The Week That Was, the 5 things, an updated 3Q19 calendar, and some other odds and ends. In case you missed The Wrap please click here.

Ecodata Watch:

  • We get advance trade in goods at 8:30 am EST (no forecast, last read was -$72.8 B),
  • We get Chicago Fed at 8:30 am EST (no forecast, last read was 0.10). 

The Week Ahead: 

  • Tuesday - Case-Shiller, consumer confidence, pending home sales, 
  • Wednesday - GDP, FOMC, Jerome Powell press conference, 
  • Thursday - Jobless claims, personal income, consumer spending, core inflation, Chicago PMI, 
  • Friday - Nonfarm payrolls, unemployment rate, average hourly earnings, ISM manufacturing, construction spending, car sales.  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Stuff We Care About Today – 5 Things, 3Q19 earnings calendar update
  5. Odds & Ends

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26
Oct

Wrap – Week Ended 10/26/19

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Questions and comments under The Wrap will be addressed in the Monday post.

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The blotter is updated. No trades last week.

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Please see the Calendar tab at upper left for coming earnings releases and earnings previews.

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Our free piece on COG can be viewed here.

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