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Looking Ahead in the Macro Stock Market Snapshot for the Week of June 27, 2022

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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.

Sources

1/ https://Google.com/

2/ https://thedalesreport.com/trends/looking-ahead-in-the-macro-market-stock-market-preview-for-the-week-of-june-27-2022/

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