Good morning. US equity futures are moderately weak, SPX -14pts, we’re set to open at 3787. USD is +0.2% in the DXY 90.28s. The precious metals are leaning weak, Gold -$4, with Silver -1.2%. WTIC is +0.6% in the $53s (printing $53.93).
sp’60min
Summary
Yesterday saw considerable chop, with the SPX settling fractionally higher. S/t momentum ticked upward across the afternoon.
Overnight futures have been a little choppy, if leaning on the weaker side.
Orange gap of sp’3764/48 is still very much due before Friday-OPEX, but again, I’d not expect a sustained move in either direction, not least ahead of a three day weekend.
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Early movers
AAL -1.2%, descending airlines
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AAPL +0.1%, Apple putting $60M into projects to ‘challenge systemic racism’. It sounds nice, and makes for good PR with the mainstream media hacks.
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ALLY +5.7%, Janney 40>45
AMD -0.5%, Piper Sandler 100>110
BA -0.8%
BABA +1.2%
BAC -0.4%
CCL -1.0%
CRSR +1.0%
DIS -0.8%… after a rough Tuesday
F +0.9%, pushing for psy’ $10.00
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FCX -0.2%, with copper +1cent to $3.61
GM +4.4%
GOOGL -0.2%, suspends Trump’s YouTube channel
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KBH +4.8%, EPS $1.12, vs 0.93est. Rev’ y/y -23.0% to $1.2bn vs 1.15est. Broadly… fine.
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HD +0.8%, Guggenheim $310
LI -2.6%
OXY -0.7%, after a very powerful Tuesday
PINS +1.3%
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PLTR -2.9%, Tuesday’s black candle to play out. Broader price structure is a giant bullish pennant, offering a major breakout withing a few weeks.
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RIG +4.3%, nearing the June high.
SLB +0.2%… nearing first target of the 28/29s.
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TGT -0.1%… breaking above psy’200, reporting holiday COMPS +17.2%… which is crazy strong.
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TSLA -0.3%
TSM +1.1%, earnings due early Thurs’
TLT +0.2%, yields cooling back a little
TLRY +3.9%
TWTR +1.0%
UAL -1.2%
URBN -10.9%
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VIX +2% in the 23s
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WBA +2.2%
XOM +0.4%
ZM -1.5%, Tuesday bullish engulfing candle. Prices 5.1M at $340.00
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Overnight markets
Asian markets were rather mixed, whilst European markets are fractionally weak…
Japan: +1.0% at 28456
China: -0.3% at 3598
Germany: currently -0.1% at 13909
UK: currently -0.1% at 6746
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Have a good Wednesday