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Looking Ahead in the Macro Stock Market Snapshot for the Week of June 27, 2022
A weekly stock market overview and the data that will impact the tape.
Early Open Futures Contracts (6:24 p.m., June 26, 2022) – Stock market overview
Weekend news and developments
canadian Prime Minister push to action on food security, climate change and gender equality at the Commonwealth Heads of Government Meeting.
carvana (NYSE:CVNA) Seeked to disrupt auto sales. He delivered impossible-to-drive carsOpEd Barron’s
Honorable Jean-Yves Duclos, Minister of Health, and the deputy for Bourassa, Emmanuel Dubourg, will present make a major funding announcement support long-term care in Quebec; June 27, 11:15 a.m.
Io Pharmaceuticals, Inc. (Nasdaq: IONS), announcement that GSK presented positive results from an interim analysis of the Phase2bB-Clear clinical study of bepirovirsen (formerly IONIS-HBVRx), an investigational antisense drug for the treatment of patients with chronic hepatitis B virus (CHB).
Madrigal Pharmaceuticals, Inc. announcement data from several resmetirom abstracts presented at the European Association for the Study of the Liver International Liver Congress (EASL 2022), including a late-breaking presentation of data from the Phase 3 MAESTRO-NAFLD-1 study and three additional oral presentations from the resmetirom clinical development program.
Pfizer Inc.(NYSE: PFE) andBioNTech SE(Nasdaq: BNTX) announced positive data assess the safety, tolerability and immunogenicity of two COVID-19 vaccine candidates tailored to Omicron: one monovalent and the other bivalent, a combination of the Pfizer-BioNTech COVID-19 vaccine and a vaccine candidate targeting the Omicron BA.1 variant spike protein of concern.
President Joe Biden and the Western allies have openeda three-day summitin the Bavarian Alps on Sunday with the intention of preventing the economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russian aggression.
Saudi exchange announcement its intention to launch single stock futures on July 4, 2022.
United States: Admin Biden alongside the G-7 announcement that they will ban imports of Russian gold to “impose more financial costs on Moscow for its invasion of Ukraine”.
what we watch
US economic calendar
| TIME (ET) | REPORT | PERIOD | REAL | MEDIAN FORECAST | PREVIOUS |
| Monday, June 27 | |||||
| 8:30 am | Durable Goods Orders | May | 0.20% | 0.50% | |
| 8:30 am | Basic capital equipment orders | May | — | 0.80% | |
| 10:00 AM | Awaiting home sales index | May | -4.00% | -3.90% | |
| Tuesday, June 28 | |||||
| 8:30 am | Trade in goods (advance) | May | — | -$105.9 billion | |
| 09:00 | S&P Case-Shiller U.S. House Price Index (y-o-y) | April | — | 20.60% | |
| 10:00 AM | Consumer Confidence Index | June | 101.1 | 106.4 | |
| Wednesday, June 29 | |||||
| 8:30 am | Gross Domestic Product Review (SARR) | Q1 | -1.50% | -1.50% | |
| 8:30 am | Final Domestic Demand Revision (SARR) | Q1 | — | 2.70% | |
| 8:30 am | Gross Domestic Income Review (SARR) | Q1 | — | 2.10% | |
| Thursday June 30 | |||||
| 8:30 am | PCE inflation (monthly) | May | — | 0.20% | |
| 8:30 am | Core PCE inflation (monthly) | May | 0.40% | 0.30% | |
| 8:30 am | PCE inflation (year-on-year) | May | — | 6.30% | |
| 8:30 am | Core PCE inflation (year-over-year) | May | 4.70% | 4.90% | |
| 8:30 am | Real disposable income | May | — | 0.00% | |
| 8:30 am | Real consumption expenditure | May | — | 0.70% | |
| 8:30 am | Nominal personal income | May | 0.50% | 0.40% | |
| 8:30 am | Nominal consumption expenditure | May | 0.40% | 0.90% | |
| 8:30 am | Initial jobless claims | June 25 | 227,000 | 229,000 | |
| 8:30 am | Persistent unemployment insurance claims | June 18 | — | 1.32 million | |
| 9:45 a.m. | Chicago PMI | June | — | 60.3 | |
| friday july 1st | |||||
| 9:45 a.m. | S&P Global US Manufacturing PMI (Final) | June | — | 52.4 | |
| 10:00 AM | ISM manufacturing index | June | 54.90% | 56.10% | |
| 10:00 AM | Building expenses | June | 0.40% | 0.20% |
meme of the week
Main upcoming income (US Markets)
| Day | Symbol | Company | Revenue call time | EPS estimate |
| KPRX | Kiora Pharmaceuticals Inc. | After market close | -0.23 | |
| BYSI | Beyond Spring Inc | Time not provided | -0.23 | |
| Monday, June 27 | KLDO | Kaleido Biosciences Inc. | Before the market opens | -0.51 |
| BMTX | Bm Technologies Inc. | After market close | 0.08 | |
| CNTG | Centogen SA | Before the market opens | -0.53 | |
| CGRN | Capstone Green Energy Corporation | After market close | -0.28 | |
| CNXC | Concentrix Corp. | After market close | 2.84 | |
| generalist | GreenPower Motor Company Inc. | Before the market opens | -0.08 | |
| CTKYY | CooTek (Caymans) Inc. | Before the market opens | 0.13 | |
| DLNG | Dynagas LNG Partners LP | After market close | 0.17 | |
| NLP | TAL Education Group | Before the market opens | -0.05 | |
| Expire | eXp World Holdings Inc | Time not provided | 0.01 | |
| I F | Jefferies Financial Group Inc | After market close | 0.51 | |
| TCOM | Trip.com Group Ltd | After market close | -0.08 | |
| OLV | Live One Inc | Time not provided | -0.13 | |
| OF | Nike Inc. | TAS | 0.81 | |
| Tuesday, June 28 | DMAE | Aethlon Medical Inc | TAS | -0.14 |
| GOOD | Beyond Air Inc | After market close | -0.27 | |
| AVAV | AeroVironment Inc | After market close | 0.39 | |
| SPARKLING | National Beverage Company | Time not provided | 0.43 | |
| RDS | Shaw Communications Inc. | Time not provided | 0.3 | |
| SNX | TD Synnex Corp. | Before the market opens | 2.65 | |
| EPAC | Enerpac Tool Group Corp. | Before the market opens | 0.28 | |
| PRGS | Progress Software Corp. | After market close | 0.95 | |
| Wednesday, June 29 | CDMO | Avid Bioservices Inc. | After market close | 0.01 |
| BSET | Bassett Furniture Industries Inc. | Time not provided | 0.45 | |
| NDEB | Barnes & Noble Education Inc | Before the market opens | -0.17 | |
| BBBY | Bed Bath and Beyond Inc | Before the market opens | -1.37 | |
| CULP | Culp Inc. | After market close | -0.35 | |
| CJREF | Corus Entertainment Inc | Before the market opens | 0.15 | |
| OFSP | Patterson Companies Inc | Before the market opens | 0.55 | |
| MKC | McCormick & Company Inc. | Before the market opens | 0.65 | |
| A F | UniFirst Corp | Before the market opens | 1.9 | |
| CF | Franklin Covey Company | After market close | 0.18 | |
| MSM | MSC Industrial Direct Co Inc | Before the market opens | 1.74 | |
| FTRP | Field Trip Health Ltd. | After market close | -0.18 | |
| GHS | SMART Global Holdings Inc. | After market close | 0.75 | |
| GIS | General Mills Inc. | Before the market opens | 1.01 | |
| SCHN | Schnitzer Steel Industries Inc. | Before the market opens | 2.3 | |
| NG | NovaGold Resources Inc. | After market close | -0.03 | |
| PAYX | Paychex Inc. | Before the market opens | 0.79 | |
| MLKN | MillerKnoll Inc | After market close | 0.47 | |
| Thursday June 30 | ACCD | Accolade Inc. | After market close | -0.66 |
| NOPE | Brands Acuity Inc. | TAS | 2.95 | |
| WBA | Walgreens Boots Alliance Inc. | TAS | 0.92 | |
| WATER | Alkaline Water Company Inc | Before the market opens | -0.1 | |
| ZST | Constellation Brands Inc. | Before the market opens | 2.52 | |
| LNN | Lindsay Corp. | Before the market opens | 1.6 | |
| SMPL | Simply Good Foods Co | Before the market opens | 0.35 | |
| NTP | Tsakos Energy Navigation Ltd | Before the market opens | -0.21 | |
| MU | Micron Technology Inc. | After market close | 2.44 | |
| Friday July 1 | None |
FDA timeline
Spero Therapeutics, Inc.(Nasdaq: SPRO): The FDA plans to hold an advisory committee meeting to discuss this request and also set a target action date for the Prescription Drug User Fee Act (PDUFA) of June 27, 2022.
Short Interest Earnings
carvana (CVNA) +33%: Short-term interest fell from 33.3% to just below the 35% mark, the highest level since December 2020. Days to cover on Carvana fell from 1.3 to 1.6.
Soft (YOU) +32.96%: Short interest rose two percentage points to 28% to hit a two-month high. In the four-day period covered through Thursday, shares of Chewy were up 14.7%, although the stock remains down nearly 40% year-to-date.
Lemonade (LMND) +13.95% : Estimated short interest on the stock rose for the third consecutive week from 30.5% to 32.0%. The number of days to cover on Lemonade also increased by almost two points, from 12.2 to 14.1, an all-time high.
Lower short-term interest rates
Canou (GOEV) -7.46%: Short-term interest estimates fell for the fourth consecutive week this week, slipping from 25.1% to 22.3%. Trading volume on the name was particularly strong this week with 5.5 to 7.1 million shares traded despite the lack of significant news.
Citi Trends (CTRN) +3.58%: Estimated short interest peaked at an all-time high above 55% in mid-May, but has fallen to just 30.1% since then as shorts cover the price decline.
Key words: stock market overview, stock market overview June 27, 2022.
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