Good morning. US equity futures are moderately higher, SPX +21pts, we’re set to open at 3422. USD is -0.2% in the DXY 92.86s. The precious metals are moderately higher, Gold +$9 (printing $1978s), with Silver +0.8%. WTIC is +2.0% in the $39s.
sp’60min
Summary
Yesterday saw the market print 3419, with some afternoon cooling to 3389, and settling at 3401. S/t momentum ticked lower across the day.
We’re set to open moderately higher. As its a Fed day, the market will be inclined to enter a holding pattern ahead of the 2pm announcement.
The best the bulls can expect is the 3440/60 zone. I would keep in mind that whilst Thursday will inherently favour a cooling wave, Friday is OPEX, and that will lean to broad chop.
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Early movers
AAPL -0.4%
ADBE +2.1%, post earnings gains
AMD +0.1%
BA -1.5%, US house report on the 737MAX
C +0.8%, dead cat bouncing
CCL +1.1%
DIS +0.4%
DKNG +2.3%, deal with NY Giants
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FB -1.8%, possible FTC antitrust suit
FCX +0.5%, with copper -1cent to $3.05
FDX +9.2%, post earnings jump
GDX +1.1%
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GM +2.1%, CEO Barra talks EVs and flying cars.
GOLD +0.7%
LLY +1.9%, antibody study
MSFT +0.8%
MU +0.4%, but stalling around the 200dma
NEM +0.4%
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NFLX +0.7%
NKLA -5.8%, background chatter on the DoJ
NVAX -2.1%, expands deal with India for 2bn doses
NVDA -0.8%
SHOP -1.4%, offering 1.1M shares at $900, $800M corp’ debt.
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TSLA -3.2%
TSM +0.4%
TLT +0.3%
UPS +3.9%, helped via FDX
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VIX -1% in the 25s
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XOM +0.5%, higher oil is helping, but Exxon will probably turn red, with Tuesday having settled with a bearish engulfing candle.
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ZM -0.9%
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Overnight markets
Other markets are all a little mixed…
Japan: +0.1% at 23475
China: -0.4% at 3283
Germany: currently +0.04% at 13222
UK: currently -0.2% at 6094
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Have a good Wednesday