US equities open in minor chop mode, if leaning on the upward side, and its enough to generate yet another new historic high of SPX 4468. The USD is -0.3% at 92.73, which is helping commodity land. VIX has resumed melt mode, as the sub-teens look realistic into Labor day
sp’60min
VIX’60min
Summary
Chop chop… and I recognise its driving a fair few rather crazy… but hey, its August… which is meant to be pretty sleepy.
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notable Dow component: DIS
Earnings showed improvement, not least in DisneyPlus, which appears set to hit 200M subscribers late 2022.
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notable tech: AAPL
Yesterday saw a provisional confirm’ of a bull pennant. New hist’ highs due.
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notable stock: ABNB
Earnings (Thurs’ AH:) -11cents vs -43est. Rev’ y/y +299% to $1.3bn inline. Various upgrades today, but most are marginal, such as WFC 200>210. I’m no fan of this one.
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notable miner: GOLD
Barrick Gold higher with the sector, helped with gold $1767, but it remains a short/mid term mess. I’ll take this one seriously again (to be decisive) >$23.00.