Good morning. US equity futures are moderately higher, SPX +15pts, we’re set to open at 3461. USD is -0.3% in the DXY 93.33s. The precious metals are significantly higher, Gold +$23 (printing $1923), with Silver +2.1% (printing $24.53). WTIC is -0.6% in the $40s.
sp’60min
Summary
Yesterday opened on a positive note, and whilst price action was choppy, the market leaned to the upward side on further stimulus hopes. S/t momentum is on the moderately high side.
*Yours truly was awake at 2.30am EST for the workman for day’2… but they were a no-show. So… no running hot water or heating this weekend. Not great.. but I’ll battle onward!
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Early movers
AAPL +0.3%
ACB +9.4%, the cannabis stocks all catching speculative chasers.
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AMD -1.7%, in ‘advanced talks’ to buy Xilinx for around $30bn. AMD sure don’t have $30bn of cash, so I’d look at it as an effective merger.
Webbush, maintain ‘outperform’, 85>100.
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AMGN -0.6%
AMZN +0.4%
AXP -0.5%, the laggy Dow component… still lagging!
BA +0.4%
BABA -0.8%, Hon Hai sells a chunk of ADRs for $186M
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BAC +0.2%
Earnings are due next Wednesday. A break >200dma would be significant, even though the stock/sector are desperate for higher rates.
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CCL +1.3%
CGC +4.4%
DIS +0.3%
DKNG -0.8%
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FCX +2.4%, with copper +3cents to $3.07
GDX +2.2%
GE +3.0%
GILD +1.5%, positive Remdesivir study
GME -6.3%
GOLD +1.8%
IBM +0.4%
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INTC -0.7%
JPM +0.4%
MSFT +0.2%
MU +0.4%
NEM +1.6%
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NVDA -0.3%, a UK political hack (hard left socialist – Mandelson) calling for a probe into Nvidia’s attempted purchase of UK based ARM.
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RKT +5.3%
TSLA +1.2%
TLRY +7.8%
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UAL +0.5%
Much like Bank of America, still a m/t mess… stuck under the 200dma.
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VIX -1% in the 26s
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XLNX +16.0% in the $123s, on a report that AMD is in ‘advanced talks’ to buy Xilinx
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XOM +0.5%, having cemented a s/t floor.
ZM +1.3%, Mizuho ‘buy to $550’
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Overnight markets
Asian and European markets were mixed, with China finally re-opening… the gains were mostly a case of ‘catch-up’.
Japan: -0.1% to 23619
China: +1.7% to 3272
Germany: currently u/c at 13042
UK: currently +0.6% to 6016
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Have a good Friday