Good morning. US equity futures are broadly lower, SPX -30pts, we’re set to open at 3823. USD is +0.1% in the DXY 90.21s. The precious metals are significantly lower, Gold -$24, with Silver -3.0%. WTIC is -2.1% in the $51s.
sp’60min
Summary
Yesterday saw considerable chop, if still managing a fractional new historic high of 3861. S/t momentum ticked lower across the day, settling fractionally positive.
Overnight futures have been increasingly weak, pressured by other world markets. We’re set to open broadly lower to around yellow gap, which appears set to fully fill. First opp’ for a turn… 11am, although the cyclical setup threatens downside into mid afternoon.
There is unofficial news that the Olympics – already delayed from 2020, and scheduled for summer 2021 in Japan, have effectively been cancelled.
However…
Right now, I’m inclined to believe the rumour, rather than the Jap’ govt’. They were the same people who said it would NEVER be delayed from summer 2020.
Indeed, with ongoing societal hysteria, the market has again been reminded that things are far from normal, with the restrictions set to cause problems into the summer.
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Early movers
AAPL -0.7%, earnings Jan’27 AH
AG -3.9%, lower silver
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ALLY +2.3%, EPS $1.60 vs 1.06est. Rev’ y/y +21.0% to $2.0bn vs 1.7est.
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AMD +1.8%, earnings Jan’26 AH
BA -1.1%
BAC -1.2%
CCL -2.0%, sinking shippers
CRM +1.0%, Goldman ‘buy to $315’
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CRSR -4.0%, secondary offering 7.5M at $35.00
DIS +0.8%
F -1.5%
FCX -3.8%, with copper -8cents at $3.56
GDX -2.5%
GOLD -1.9%
GME +5.7%, the s/t speculative hysteria continues
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IBM -7.9%, post earnings horror
INTC -4.6%, post earnings depression
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MSFT +0.1%, Goldman ‘buy to $285′, earnings Jan’26 AH.
NEM -1.8%
NIO +0.6%
OXY -4.3%
PAAS -3.5%, lower silver
PLTR -1.0%
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SLB -0.4%, EPS 22cents vs 17est. Rev’ y/y -32.8% to $5.5bn vs 5.2est. Schlumberger cites cost cuts and demand recovery. Good progress!
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SPCE -2.2%
TSLA -1.5%
TSM -3.6%
TLT +0.5%, yields cooling back
TLRY -6.0%, hysteria fading.
UAL -1.1%
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VIX +10% in the 23s
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X -2.8%
XOM -2.6%
ZM -0.7%
ZNGA -0.5%
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Overnight markets
Asian markets ended the week moderately lower, whilst European markets are broadly lower…
Japan: -0.4% at 26831
China: -0.4% at 3606
Germany: currently -0.8% at 13791
UK: currently -0.8% at 6662
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Have a good Friday