ECONOMIC SILUET: Watch these recovering bank stocks, Deere and this week’s big movers in tomorrow’s trading

Kamis, 18 Mei 2023

THU, MAY 18, 2023

Tomorrow's Top CNBC Stories Tonight

Carnival helms a strong week for travel stocks

Carnival is leading what's been a relatively strong week for travel stocks. It's up almost 15%, which would be its best week since November. Norwegian, Expedia and Delta are among other travel names up 8% or more week to date. Royal Caribbean and Booking Holdings hit 52-week highs today, and Marriott is trading less than 2% from its own high.

Netflix pops and gets closer to a high

Optimism around Netflix's advertising business update fueled the stock to its best day since October 2022 and brought it less than 1% from a 52-week high. Relative to rivals like Disney and Comcast, the stock has been an outperformer this year, up over 25% with today's gain.

Utilities tumble for the week

The utilities sector is getting beat up this week, with the Utilities Select Sector SPDR ETF (XLU) heading for its worst decline since September. A mix of names are leading the decline, including Edison International, Exelon, American Electric Power and American Water Works, all off by 5% or more week to date. Edison was trading at a 52-week high as recently as May 1.

Palantir soars after Ark Invest snaps up shares

Palantir hit its highest level in a year today, following a bullish signal from Cathie Wood's Ark Invest. The company disclosed the purchase of over a million shares of the stock across several of its funds. The stock has had a very strong start to 2023, up over 80% so far. It's also tracking for its best month since November 2020, which was shortly after going public.

This week's biggest movers

A few big week-to-date movers to keep an eye on:
Upstart is up 50%, its biggest weekly gain since August 2021, after Castlelake and Eltura agreed to buy $4 billion worth of installment loans originated on the platform.
Bausch Health is also up 50%, its best week on record, after yesterday's court decision against a competitor's rival drug.
C3.ai is heading for its best weekly gain since February, up 38%, after giving a strong outlook earlier in the week.
EVgo is tracking for its biggest weekly drop on record as it aims to raise cash through a secondary offering.

Germany

Germany's main stock index now stands at a 17-month high. Thanks to CNBC data guru Gina Francolla for pointing this one out earlier today.
The iShares MSCI Germany ETF (EWG), which tracks that index, is up 17% so far this year and 1.6% from a 52-week high.
Some of Germany's top performers include software giant Nemetschek, Rheinmetall and Fresenius Medical Care.
Lesser performers include real estate company Aroundtown, United Internet and Vonovia (another real estate company). All are down at least 47% in 2023. U.S.-traded shares of Deutsche Bank are down 8% in 2023.

Also from outside the U.S.

The iShares Core MSCI Europe ETF (IEUR) is up 13% so far this year and is 2% off the 52-week high.
The iShares MSCI Mexico ETF (EWW) is up 25.7% in 2023, leading all of the major country specific ETFs. It hit a new 52-week high this week.
The iShares MSCI Eurozone ETF (EZU) is up 16% year to date.
The KraneShares CSI China Internet ETF (KWEB) is down 11% in 2023 and 25% from the January high.
The iShares MSCI Turkey ETF (TUR), as we noted early this week, is down 20% in 2023.

Applied Materials

The company had better than expected numbers and guidance was good.
CEO Gary Dickerson said, "Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering, creating outsized growth opportunities for Applied."
The stock didn't move much after hours, but was up more than 3% in the main trading day.
CNBC's Kristina Partsinevelos reported today the company makes a lot of its sales from chips that go into cars.
AMAT is up 33% this year. The popular VanEck Semiconductor ETF (SMH), which tracks chip stocks, is up 32%.
Tops in the SMH this year: Nvidia, up about 117%; AMD, up 66%; and Lam Research, up 42.5%.
At the bottom of the SMH: Qualcomm, down 2.7%; Texas Instruments, up 2.8%; and Qorvo, up nearly 5% in 2023.

The regional banks

The SPDR S&P Regional Banking ETF (KRE) is up almost 10% in four days.
Leading the charge: West Reading, Penn.-based Customers Bancorp, up 28% so far this week.
PacWest is up 28% this week as well.
Western Alliance is up 28% also in four days.
At the bottom of the regionals list this week: Commerce Bancshares, 1st Source and Park National. They're all up about 2% in four days.

The online shopping stocks

Farfetch is up nearly 20% in extended trading after posting better than expected numbers this afternoon. The company still isn't profitable, losing $174 million in the quarter, which was better than many analysts expected.
Before you jump out of your shoes: Please note the stock is 66% from the August 2022 high, and it's down 46% in six months.
ThredUp is up 127% in 2023, but 40% from last year's high.
Stitch Fix is 65% from the high.
Rent the Runway is 54% from the high. Shares turned lower in after-hours trading.
Allbirds is 80% from the high.