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Bloomberg: Japan&#39;s Central Bank Is &#39;Quietly&#39; Acquiring &#39;Huge&#39; Stakes In Japanese Companies And ETFs

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New Japan ETFs Emphasize Favored Investment Factor

Earnings

JinkoSolar Holding Q1 Shipments 21,907 MW, down 21.6% Q/Q & Up 51.2% Y/Y

U.S. stocks are looking to build on past week&#8217;s gains, with the mood remaining cautiously optimistic. The major index futures were modestly higher in early trading. 
Given the strong gains in the past week, it wouldn&#8217;t come as a surprise if traders choose to take some profits, especially with the Fed meeting looming. Analysts hope the upward momentum gains strength if the central bank chooses to deliver a dovish message. In the absence of any major Main Street cues, the focus is likely to<a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports"> rest solely on earnings. </a>
 Futures Performance On Monday ( as of 6:20 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.16%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.12%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.00%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Monday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.20% to $509.27,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.29% to $432.27, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Week&#8217;s Trading:
U.S. stocks rebounded strongly in the week ended April 26, thanks to the optimism generated by strong corporate profit growth. The Nasdaq Composite and the S&amp;P 500 Index entered the week with six straight sessions of losses and bargain hunting lifted the major averages early in the week. Although the indices suffered inflation jitters in the middle of the week, the earnings catalyst helped a strong comeback in the final session.
The Nasdaq Composite and the S&amp;P 500 Index snapped four-week and three-week losing streaks, respectively, and finished at their best closing levels since April 12. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+4.23%</td>
<td>15,927.90</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+2.67%</td>
<td>5,099.96</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.67%</td>
<td>38,239.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.97%</td>
<td>2,002.00</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market could be entering a seasonally strong period of election years, according to Carson Group&#8217;s Ryan Detrick. &#8220;Historically, June, July, and August tend to be strong months in an election year,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Historically, June, July, and August tend to be strong months in an election year. Then again, so does April. <a href="https://t.co/QyBDCRcU5W">pic.twitter.com/QyBDCRcU5W</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1784767703032483881?ref_src=twsrc%5Etfw">April 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
April may have been a blip on the radar. With two more sessions to go, there is a possibility that the major indices can inflect higher.
Tom Lee of FundStrat recommended buying the dip, predicating it on the Fed maintaining a dovish bias at the May monetary policy meeting. &#8220;Buy the dip regime in effect as long as #Fed is not a #hawk,&#8221; he said.
Upcoming Economic Data:
The week&#8217;s economic calendar will be headlined by the Federal Open Market Committee&#8217;s rate decision due on Wednesday. A pause verdict has been factored in by the market, but traders will closely watch the language used in the post-meeting policy statement and Chairman Jerome Powell&#8217;s press conference.
A slew of labor market data are also due for the week, including the all-important non-farm payrolls report, ADP&#8217;s private payroll report, first-quarter productivity and costs data, the results of the Labor Department&#8217;s job opening and labor turnover survey and the weekly jobless claims data. 
The other key data includes the Conference Board&#8217;s consumer confidence reading, the Institute for Supply Management&#8217;s manufacturing purchasing managers&#8217; index, a regional manufacturing activity reading and the results of two house price surveys. After the Fed&#8217;s blackout period expires, traders will also get to hear from some Fed officials.
On Monday, the Dallas Fed manufacturing index is due to be released at 10:30 a.m. EDT.
The Treasury will auction three- and six-month bills at 11:30 a.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus: 
<ul>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose over 7% in <a href="https://www.benzinga.com/premarket">premarket trading </a>after CEO Elon Musk&#8217;s surprise China visit over the weekend reportedly marked a major headway in launching its full self-driving software in the country and transferring data from the country.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) fell about 3% <a href="https://www.benzinga.com/general/entertainment/24/04/38476949/amc-expects-q1-results-to-top-estimates-despite-fewer-box-office-releases-due-to-hollywood-">following its pre-announcement made after the market closed on Friday.</a></li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) rose about 4.5% after a Bloomberg report said the Redstone family and Skydance Media CEO David Ellison have both made concessions to make a potential change in control at Paramount Global more appealing to the company&#8217;s other investors.</li>
<li> JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) and SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">major companies due to report their quarterly results.</a></li>
<li>Notable names reporting after the close are F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global, Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>) and Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell modestly on Monday after the commodity gained 0.85% in the week ended April 26, while gold futures traded modestly higher, with an ounce of the yellow metal fetching over $2,350.
The 10-year note yield pulled back to 4.628% ahead of the week&#8217;s Fed meeting.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 1.50% and traded around at $62.5K level.
The Asian markets advanced strongly, led by the Chinese market, as the positive mood seen on Wall Street on Friday rubbed off on the stocks in the region. The Japanese market remained closed for a public holiday. Meanwhile, European stocks have started on a tentative note. The Euro STOXX 50 Index was down 0.17% in early trading.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">Strong Quarterly Earnings Fuel Market Optimism Despite Inflation Concerns, Slowing Economic Growth: This Week In The Market</a>
Credit: Reto Keller from Pixabay

Equities

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Movers

$BTC

FFIV

LSCC

MSTR

NXPI

PARA

QGEN

RMBS

SANM

SOFI

TSLA

YUMC

US Stocks Set To Approach New Week With Caution Ahead Of Fed Meeting, Tech Earnings: Analyst Says 'Buy The Dip' Contingent On This Condition

JinkoSolar Holding Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>) reported quarterly sales of $3.19 billion which missed the analyst consensus estimate of $3.25 billion by 1.78 percent. This is a 6.03 percent decrease over sales of $3.40 billion the same period last year.

JinkoSolar Holding Co Q1 Sales $3.19B Miss $3.25B Estimate

Jefferies analyst Sheila Kahyaoglu downgrades Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) from Hold to Underperform and lowers the price target from $28 to $20.

Downgrades

Price Target

Analyst Ratings

Jefferies Downgrades Southwest Airlines to Underperform, Lowers Price Target to $20

WIIM

Domino's Pizza shares are trading higher after the company reported better-than-expected Q1 earnings, with same-store sales growing 5.6% in the US and 0.9% internationally.

A former employee&#8217;s lawsuit against oil giant&nbsp;Shell&nbsp;PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) has reportedly peeled back the curtain on the financial intricacies of its expansive oil and gas trading enterprise.
The lawsuit documents unveiled in a Texas state court shed light on the company&#8217;s&nbsp;closely-guarded&nbsp;secrets, particularly regarding its U.S. crude trading operations.
Testimony by John Dimech, a former head of Shell&#8217;s U.S. crude trading division, offered a rare glimpse into the substantial profits reaped by the trading arm, along with&nbsp;the lavish bonuses bestowed upon traders, reported Reuters.
Dimech,&nbsp;who served as&nbsp;a manager in Shell&#8217;s crude oil trading group in Houston for over a decade, disclosed in his deposition that the crude trading unit consistently rakes in annual profits ranging from $950 million to $1 billion.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38319262/shell-nigeria-ink-gas-deal-to-fuel-3-8b-methanol-project-report" rel="noreferrer noopener">Shell, Nigeria Ink Gas Deal To Fuel $3.8B Methanol Project:&nbsp;Report</a>
As per the report, these figures account for&nbsp;a significant portion&nbsp;between 13% and 15% of Shell&#8217;s overall U.S. pre-tax profits in recent years.
Despite the substantial financial contributions from its trading activities, Shell has historically kept a tight lid on the performance metrics of its oil and gas trading desk, which&nbsp;is touted&nbsp;as the world&#8217;s largest.
The lack of transparency surrounding this segment has raised concerns among some investors, given its potential to yield substantial profits&nbsp;but also to&nbsp;incur volatility and losses.
Traders within Shell&#8217;s operations capitalize on market fluctuations in oil and gas prices worldwide to secure profits through strategic buying and selling.
Their compensation packages often include hefty bonuses tied to performance metrics, which can surpass even the annual bonuses awarded to top executives.
For instance, CEO Wael Sawan&#8217;s annual bonus amounted to £2.7 million ($3.4 million) last year,&nbsp;as&nbsp;per the company&#8217;s latest annual report.
In a recent legal dispute, former trading manager Eva-Maria Frohn sought $15 million in damages, alleging breach of contract by Shell, including a $6 million claim for her 2021 bonus, the report&nbsp;further&nbsp;added.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38299595/shell-defends-climate-goals-rejects-shareholder-resolution-as-damaging" rel="noreferrer noopener">Shell Defends Climate Goals, Rejects Shareholder Resolution As Damaging</a>
Price Action: SHEL shares closed Friday&#8217;s session flat at $73.27.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by siam.pukkato via Shutterstock

Media

General

SHEL

Legal Battle Unmasks Shell's Under-The-Radar Oil Trading Earnings: Report

Baird analyst Catherine Schulte maintains Avantor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) with a Outperform and lowers the price target from $27 to $26.

AVTR

Baird Maintains Outperform on Avantor, Lowers Price Target to $26

BIDU

Baidu shares are trading higher on reports the company will partner with Tesla for mapping and navigation for Full Self-Driving in China.

Ocugen, Inc. (Ocugen or the Company) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that Benjamin Bakall, MD, PhD, Director of Clinical Research at Associated Retina Consultants and Clinical Assistant Professor at the University of Arizona, College of Medicine&mdash;Phoenix will present data from the OCU400 Phase 1/2 clinical trial at the Retinal Cell and Gene Therapy Innovation Summit being held May 3, 2024 in Seattle, WA.

OCGN

Ocugen Announces OCU400, Modifier Gene Therapy, Phase 1/2 Data Presentation at Retinal Cell and Gene Therapy Innovation Summit 2024

Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) highlights its progress in advancing new potential standards of care in Oncology at the 2024 American Society of Clinical Oncology (ASCO&reg;) Annual Meeting, taking place May 31 to June 4 in Chicago. More than 50abstracts, including 11oral presentations, will be presented from Pfizer&#39;s broadened portfolio of approved and pipeline therapies across the company&#39;s key tumor areas and core scientific modalities, including small molecules, antibody-drug conjugates (ADCs) and bispecific antibodies.

Pfizer to Present Cancer Therapies at ASCO Annual Meeting, Including Advances in ADCs and Bispecific Antibodies

JMP Securities analyst Devin Ryan maintains FTAI Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) with a Market Outperform and raises the price target from $66 to $85.

FTAI

JMP Securities Maintains Market Outperform on FTAI Aviation, Raises Price Target to $85

AAPL

Apple shares are trading higher after Bernstein upgraded the stock from Market Perform to Outperform.

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fspire.com%2F&amp;esheet=53958866&amp;newsitemid=20240429856492&amp;lan=en-US&amp;anchor=Spire+Global%2C+Inc.&amp;index=1&amp;md5=2025a6502749688b314edd4550f7b40a">Spire Global, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIR#NYSE">SPIR</a>) (&quot;Spire&quot; or &quot;the Company&quot;), a global provider of space-based data, analytics and space services, has entered into a multi-million-dollar deal with a financial firm. The Company will provide its&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fspire.com%2Fpress-release%2Fspire-global-launches-space-driven-high-resolution-weather-forecast-for-utilities-and-commodity-traders%2F&amp;esheet=53958866&amp;newsitemid=20240429856492&amp;lan=en-US&amp;anchor=High-Resolution+Weather+Forecast+model&amp;index=2&amp;md5=7dd9efd7ce5d7d10b829a59ab353d3a1">High-Resolution Weather Forecast model</a>, which offers a six-day&nbsp;outlook&nbsp;powered by proprietary data collected from space, and develop an AI-powered model for long-range forecasting.
Through this deal, Spire will build off of its recent&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fspire.com%2Fpress-release%2Fspire-global-to-enhance-ai-driven-weather-prediction-in-collaboration-with-nvidia%2F&amp;esheet=53958866&amp;newsitemid=20240429856492&amp;lan=en-US&amp;anchor=collaboration+with+NVIDIA&amp;index=3&amp;md5=1843400003023cc52796b27e3cc72035">collaboration with NVIDIA</a>&nbsp;to leverage Earth-2, NVIDIA&#39;s platform for weather and climate change modeling, to train and run AI weather models. These models are projected to increase the accuracy of weather forecasts and produce long-range probabilistic forecasts at unprecedented speeds.

SPIR

Spire Global Bags Multi-Million Dollar Deal with Financial Firm for Weather Forecasts, Financial Terms Undisclosed

B of A Securities analyst Saurabh Pant maintains Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) with a Buy and raises the price target from $135 to $145.

WFRD

B of A Securities Maintains Buy on Weatherford International, Raises Price Target to $145

Guidance

Daqo New Energy Expects To Produce Approximately 60,000MT-63,000MT Of Polysilicon in Q2 FY24 And Approximately 280,000MT-300,000MT Of Polysilicon In 2024

Tesla shares are trading higher on reports the company will partner with Baidu for mapping and navigation for Full Self-Driving in China.

Guggenheim analyst Seamus Fernandez downgrades Altimmune (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALT#NASDAQ">ALT</a>) from Buy to Neutral.

Guggenheim Downgrades Altimmune to Neutral

The Dow Jones index closed higher by around 150 points on Friday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#8217;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Barnwell Industries</h3>
<ul>
<li>The Trade: Barnwell Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRN#NYSE">BRN</a>) 10% owner Ned L. Sherwood Revocable Trust <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 38,324 shares</a> at an average price of $2.76. To acquire these shares, it cost around $105,773.</li>
<li>What's Happening: On Feb. 20, Barnwell Industries announced a planned CEO succession.</li>
<li>What Barnwell Industries Does: Barnwell Industries Inc is an oil and gas firm. Its areas of operations include acquiring, developing, producing, and selling oil and natural gas.</li>
</ul>
<h3 class="wp-block-heading">IZEA Worldwide</h3>
<ul>
<li>The Trade: IZEA Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IZEA#NASDAQ">IZEA</a>) 10% owner GP Cash Management, Ltd. <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 101,337 shares</a> at an average price of $2.67. To acquire these shares, it cost around $271,059.</li>
<li>What's Happening: On April 1, IZEA Worldwide posted downbeat quarterly results.</li>
<li>What IZEA Worldwide Does: IZEA Worldwide Inc is a create economy, specializing in providing software solutions and professional services that connect brands with a broad spectrum of social influencers and content creators.</li>
</ul>
<h3 class="wp-block-heading">Earth Science Tech</h3>
<ul>
<li>The Trade: Earth Science Tech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETST#NASDAQ">ETST</a>) Director Yovan Arturo Sanchez <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 92,530 shares</a> at an average price of $0.06. The insider spent around $5,459 to buy those shares.</li>
<li>What's Happening: On Jan. 29, Earth Science Tech announced a $5 million common stock repurchase program.</li>
<li>What Earth Science Tech Does: Earth Science Tech Inc is a diversified holding company. Currently, the company is focused on emerging prospects in the health and wellness industry.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38482010/dominos-pizza-yum-china-and-3-stocks-to-watch-heading-into-monday">Domino&#8217;s Pizza, Yum China And 3 Stocks To Watch Heading Into Monday</a>

Penny Stocks

Insider Trades

ETST

IZEA

Barnwell Industries And 2 Other Penny Stocks Insiders Are Buying

Daqo New Energy Q1 Polysilicon Production Volume 62,278MT Vs. 61,014MT in Q4 FY23; And Polysilicon Sales Volume 53,987MT Vs. 59,906MT In Q4 FY23

Biotech

Health Care

Contracts

CMPS

Compass Pathways And Journey Clinical Have Collaborated To Inform Development Of Scalable And Practical Delivery And Healthcare Provider Training Model For COMP360 Psilocybin Treatment If Approved For Treatment-Resistant Depression

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Latest News for iShares JPX-Nikkei 400 ETF (ARCA:JPXN)

Monday, April 25, 2016

Monday, November 02, 2015