WED, DEC 21, 2022

The goal of this newsletter is to get you ahead of the next day of investing and trading. It’s your first look at tomorrow and last look at today powered by the team of people who direct CNBC TV’s stock market coverage.

Tomorrow's Top CNBC Stories Tonight

Energy names rise, but are still behind gains in oil

Since Friday, Dec. 9, West Texas Intermediate crude has gained 10% and Brent is up 8%.
The biggest oil and energy names are lagging over these last two weeks compared to the commodity.
ConocoPhillips is up 5.6% since Dec. 9.
Exxon Mobil is up 4.3% since Dec. 9.
Phillips 66 is up 5.4% since Dec. 9.
Energy Select Sector SPDR Fund (XLE) is up 4.4% since Dec. 9.
Chevron is up 3.9% since Dec. 9.
Energy is the only S&P sector up in the last week, up 1.6%. It's led by Schlumberger, up 5.7%. EQT is the worst performer, down 3.1%.

Josh Brown sees potential for a breakout in McDonald’s shares

Josh Brown said Wednesday on “Closing Bell: Overtime” that this may be the last big stock with solid fundamentals that may be due for a breakout to the upside.
The stock is trading about even with the 50-day moving average and is a bit above the 200-day moving average.
Moving day averages are used by traders and technical analysts (those who make recommendations based on a chart) as one indicator of price fluctuation. They study those numbers and charts to try and gauge when price action may be about to swing one way or the other.
McDonald’s is almost dead even in 2022, up merely 0.03%.
There’s a dividend yield (as of Wednesday) of 2.3%.
On “Closing Bell: Overtime,” Brown said, “This is the type of stock that works into next year.” He said, “This is the best chart in the market yet that hasn’t yet broken out.” Brown went on to say McDonald’s has pricing power and will benefit from customers downgrading perhaps from higher cost restaurants.

Dow components that are sitting a long way from their highs

Six Dow stocks now sit more than 30% from their 52-week high.
Intel is 52.3% from the January high.
Salesforce is 50% from the high, which was nearly one year ago.
Disney is 46% from the January high.
Nike is 32% from the high a year ago. That includes today’s 12% jump.
3M is 32% from the January high.
Verizon is also 32% from the high hit back in April.

Micron says a turnaround will come in the second half of 2023

Micron is down about 2% after hours following the release of not-so-hot results.
The company thinks there may be improvements by August of next year.
Micron is 48% from the January high. It’s not a great position but a few competitors have fared worse.
Marvell is 57% from its January high.
AMD is also 57% from its 52-week high set in December of last year.
Intel, as stated above is 52.3% from its 52-week high.
Every stock in the VanEck Semiconductor ETF (SMH) is down in 2022.

CNBC exclusive on shipping, and a mixed picture at sea for stocks

CNBC’s Lori Ann LaRocco releases a CNBC exclusive shipping survey Thursday.
Stock-wise at sea, there’s a bit of a mixed picture.
Nordic American Tankers is up 90% in 2022.
Eagle Bulk Shipping is up nearly 14% in 2022.
Zim is 80% from the 52-week high and is down 69% in 2022.
Danaos is down 26.5% in 2022.
On the rails, Canadian Pacific is up 5.4% in 2022.
Canadian National Railway is down 1% in 2022.
CSX, Norfolk Southern and Union Pacific are all down about 17% in 2022