الضغوط البيعية مستمرة على المؤشرات الأميركية بعد خفض Moody’s التصنيف الائتماني لـ 10 بنوك أميركية
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00:00 Last week was one of the worst weeks in several months.
00:06 Today, the investor says he is ready to buy shares again.
00:13 It seems that this did not continue today and the selling pressure is returning.
00:19 Not only because of the rise we have seen on the US bonds,
00:25 but also because of the economic data released on Friday about jobs and wages.
00:32 Today, the sales operations come from different places.
00:36 The pressure has risen by more than 200 points on Dow and about 16 points on S&P 500.
00:43 It is back to less than 4500 points.
00:46 Today, the pressure is actually coming from the banking sector.
00:50 Moody's has reduced the portfolio of 10 medium-sized banks in the US
00:58 and placed many large banks under surveillance.
01:04 It is also possible to reduce its portfolio in the coming period due to the pressure of the costs.
01:10 Today, even the technology companies are under pressure and have to withdraw 18 points from oil and gas.
01:18 But today, the situation is different with the health care sector, which is rising.
01:24 We have seen this rise in Europe and also today in the defense sector.
01:29 We have seen the refugees.
01:31 We have had news from Eli Lilly.
01:33 We will return to these positive news from the pharma sector.
01:38 But today, this sector is experiencing a decline.
01:40 Most other sectors are under sales pressure, including the financial, industrial, insurance and telecommunications sectors.
01:47 We have not seen any change.
01:49 It is as if today the defense sectors are the ones who benefit from the sales operations.
01:57 Most of the technology companies are in the red color.
02:00 Apple is stable, but there are some big withdrawals.
02:05 We have seen that this share is withdrawing from above $200 to $178.
02:11 These withdrawals came after Apple announced the financial results, which disappointed expectations.
02:16 Microsoft is also withdrawing today.
02:18 Alphabet, Amazon, Nvidia, Meta.
02:21 Most of these companies have announced their financial results.
02:25 More than 85% of S&P 500 companies have already announced their financial results.
02:32 About 80% of these companies exceeded the expected earnings per share.
02:37 But this is not the same as regards revenues.
02:43 Today, the water share is more than 12%.
02:48 We will get to the details of these news shortly.
02:52 Today, we had sales pressure on UPS.
02:57 We had strikes in this company.
03:01 The employee's word has become heard, especially with very low unemployment rates in the United States.
03:10 Today, oil companies are also under pressure.
03:13 The economic data coming from China was not encouraging for exports or even imports.
03:21 This again raises some concerns regarding the economic growth.
03:27 There is a second largest economy in the world.
03:29 Exxon, Chevron, Conoco, Philips, Occidental.
03:32 All of them have withdrawals of 2% or more.
03:35 We even see withdrawals on companies like Boeing today.
03:39 But they are light.
03:41 Defense companies like PepsiCo are also under pressure.
03:45 UPS has withdrawals of more than 2%.
03:48 We also see withdrawals on bonds.
03:55 We notice that the bonds are short-term and long-term.
04:00 But most of the bonds are long-term bonds.
04:03 This time, the bonds have about 8 points.
04:07 This means that the investor should resort to fixed income tools.
04:12 These bonds are the most prominent today.
04:15 Lowering the balance of the bonds is a major debt by any agency.
04:20 It seems that it does not affect these bonds much.
04:26 Especially after the last reduction from Fitch.
04:31 How do banks interact today?
04:34 Banks are not affected much.
04:37 They have withdrawals of more than 2%.
04:40 But banks are more affected.
04:43 We will see what happens.
04:45 Yamai, I think you have a list of banks that you are monitoring.
04:49 That's right, Hussein.
04:51 Banks in America and Europe are under pressure.
04:54 Even though the reasons are different.
04:56 Moody's is affecting American banks.
04:58 A new tax from Matteo Salvini is affecting European banks.
05:02 And especially Italy.
05:04 We will talk about these details later.
05:06 We will start with American banks.
05:08 Some of them are trading in red.
05:10 But the market is still in a downturn.
05:13 Moody's has reduced the rating of 10 small banks in the US.
05:19 M&T, Bank, Pinnacle, Webster Financial and other banks.
05:25 They have put some banks under the review list.
05:30 With a possibility of a reduction.
05:32 Bank of New York, Mellon and other banks.
05:35 State Street, Colin Frost Bank and Northern Trust.
05:40 They have changed their view of the negative of Capital One, Citizens Financial and Fifth Third Bank Corp.
05:49 Moody's says that the risks for the smaller banks are increasing.
05:56 They are afraid of the rising financing costs.
05:59 And that the income levels are declining.
06:01 That's why they took this step.
06:03 Today, all banks are under review.
06:06 Big or small.
06:09 We can see this in Bank of New York, Mellon.
06:12 If we put it on the review list.
06:14 It is also a matter of putting more than 2% of the shares.
06:17 These are the shares that have been reduced or changed their view.
06:22 In Europe, the story is different.
06:24 Matteo Salvini and the Italian government have imposed a 40% tax on additional profits.
06:31 Or what is known as the windfall tax for banks.
06:34 Matteo Salvini says that the Italian government is saying that the negative effect on the borrowers.
06:41 Due to the increase in interest rates, is much higher than the positive effect on the lenders.
06:46 Therefore, this tax will be applied on the net income for banks.
06:51 Which is considered in excess or in addition to what the banks achieved in 2022.
06:57 Any growth in net profits during this year exceeds 3% will be imposed on this tax.
07:04 The ratio is 40% from 2022 to 2023.
07:08 But Siti says that the impact on profits this year for Italian banks will be around 19%.
07:15 The Italian government said that these income will be used to reduce other taxes.
07:23 Or to support the lenders, specifically the real estate investors.
07:26 Therefore, Italian banks are on a review list today.
07:29 And even European banks such as Deutsche Bank and others are reviewing this file.
07:35 This file has a negative impact on the minds of investors today in European markets.
07:40 Especially because it is in line with other news, as Hussein said about the Chinese data.
07:46 Today, we are also monitoring some stocks, including Eli Lilly.
07:50 We had better results than expected.
07:52 The average profit for each stock was $2.11, higher than expected.
07:57 And at an annual rate of 85%.
08:00 And the interest rates recorded $8.3 billion.
08:04 It was higher than expected and also at an annual rate of 28%.
08:08 The growth of interest was paid for by medicines.
08:11 Either medicines for breast cancer or diabetes.
08:21 As for expectations, Eli Lilly raised expectations for the rest of the year.
08:26 And we also notice that the investor is very comfortable with these results.
08:29 And we are seeing increases in the share price by more than 15%.
08:33 As for UPS, we had the results that were different.
08:37 Today, what is being priced in the stock is that UPS lowered expectations for the third quarter results
08:42 due to the costs related to the business related to UPS.
08:46 While the results as a result of the second quarter came positive.
08:50 The average profit for each stock was $2.54, higher than expected.
08:55 And the interest rates of $22.1 billion came lower than expected.
08:59 And this is the reaction of the investor.
09:02 Hussein is seeing that there is a regression in the risk-taking.
09:05 Either because of the decision of Modi's, the Italian government's tax decision,
09:09 or even the Chinese data that increases the pressure on the investors' minds
09:14 and the fear that the Chinese economy will not be as expected.
09:18 And we see this regression that we saw in the first quarter of this year.
09:22 And the question remains, May,
09:24 are the companies that led the UPS to continue?
09:30 Because the biggest motivator for the rally that we saw since the beginning of this year
09:35 is the stock market.
09:37 We hoped to see other factors supporting the market,
09:40 but it seems that they are not available today.