Superstock Investor
Morning Briefing

Monday, May 02, 2022

Morning Matters:

The Week Ahead For May 2nd to 6th

All stock indexes fell again this past week across the board.

1. Geopolitical and Fiscal Events. The key issue remains how the Russian invasion of Ukraine progresses as the Russians reattack Eastern Ukraine and the Donbas region while threatening nuclear war. Wednesday sees the FOMC out with its latest rate decision.

2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and ISM Manufacturing Index, Construction Spending, Factory Orders, ADP Employment Report, ISM Non-manufacturing Index, Nonfarm payrolls and unemployment rate.

3. Earning Releases. Notable releases this upcoming week include MCO NXPI PFE AMD CVS BKNG COP BUD ENB CI.

Monday, May 2

April ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to improve to 57.9% from 57.1%.

March Construction Spending is due out at 10:00 a.m. EDT and is expected to improve to 0.8% from 0.5%.

Tuesday, May 3

April ADP Employment Report is due out at 8:15 a.m. EDT and are expected to drop to 390,000 from 455,000.

April ISM Non-manufacturing Index is due out at 10:00 a.m. EDT and expected to rise to 58.7% from 55.5%.

The Federal Reserve Open Market Committee (FOMC) begins a two day meeting.

Wednesday, May 4

March Pending Home Sales are due out at 10:00 p.m. EDT and are expected to improve from a drop of -4.1% to -1.5%.

FOMC is out with its latest decision at 2:00 p.m. EDT and then followed by a press conference at 2:30 p.m. EDT.

Thursday, May 5

No events of note.

Friday, May 6

April Nonfarm Payrolls are due out at 8:30 a.m. EDT and expected to fall to 395,000 from 431,000.

April Unemployment Rate is due out at 8:30 a.m. EDT as well and is expected to remain 3.60%.

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Market Matters:

S&P 500 Down -5 points

Overnight Summary: The S&P 500 closed Friday at 4131.93 from 4287.50 on Thursday down -3.63. Futures have traded higher overnight but are off their highs. The overnight high of 4158 was hit at 3:10 a.m. EDT. The low was hit at 4,116.75 at 6:35 p.m. EDT, a range of 42 points high to low which has been a typical range of late. At 7:25 a.m. EDT the current price is 4139.75 which is +0.30% and 12.25 points.

Breaking News: U.S. Embassy may return to Kyiv by the end of May if conditions permit.

Earnings Out After The Close:

Capital Raises:

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.

News After The Close and Over the Week:

What’s Happening This MorningFutures value reflects the change with fair value.

S&P 500 -6Dow Jones +8NASDAQ -28, and Russell 2000 -4.  Europe lower ex the FTSE and Asian higher ex Shanghai.  VIX Futures are at 31.60 from 29.65  yesterday morning and the VIX closed at 33.85 from 33.52  on Friday. Gold, Silver and Copper lower. WTI Crude Oil and Brent Oil Futures lower with Natural Gas higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury sees yields at 2.918% from 2.868%. Bitcoin is at $38704 from $38,825 Friday morning and is higher by 2.29% from the weekend. As of 8:04 a.m. EDT.

Sector Action – 04/29/22 Close:  

Indexes were all down more than 2%.  NASDAQ down 4.17%, had worst month since 2008.  TLT closed at $119.45 down 1.30%. Updated 04/29/22 close.

Upcoming Earnings Of Note: (sorted by market cap, highest to lowest with most visible names)

Earnings of Note This Morning:

Guidance:

Erlanger Research Advance/Decline Chart: Updated through 04/29/22 close.

Gap Ups & Down In Early Pre-Market:

Insider ActionHMTV, ALTG, BECN sees Insider buying with dumb short selling.  NKTX sees Insider buying with smart short sellers. 04/29/22 close.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.

Moving Average Update:

Geopolitical: 

Economic: 

Federal Reserve Speakers:

M&A Activity:

Meeting & Conferences of Note:

Top Tier Sell-side Upgrades & Downgrades:

The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting it to make the reader aware of market moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.

Today’s Upgrades and Downgrades:

Previous Day’s Upgrades and Downgrades:

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Today's Superstock Investor Stock Scorecard:

Target Corporation (TGT)
by Superstock Investor


 

Target (TGT) has pulled back and is on our bottom fisher list. Is there value at $228.65? Not yet.

Company Information

Company: Target Corporation
Sector: Retailing
Industry: General Merchandise
Market Cap:  $95,780,000,000

Targets

  Price %Gain  
Current Price $217.67    
Price Target $159.79 -0.1%  
Upper Bound $199.74 0.1%  
Lower Bound $119.84 -0.3%  

Stock data last updated 01/28/2022.

Data provided by QPI, Inc. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. QPI, Inc. is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing this page, you agree not to redistribute the information found herein.

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