Good morning. US equity futures are moderately higher, SPX +16pts, we’re set to open at 4582. USD is -0.1% at DXY 93.69. The precious metals are leaning weak, Gold -$4, with Silver -0.8%. WTIC is +0.8% in the $84s.
sp’60min
Summary
Yesterday saw considerable micro chop, if still leaning on the upward side to break a new historic high. S/t momentum settled precisely flat.
Overnight futures have been leaning upward, helped by most other world markets.
Its a Tuesday, and there will be a threat of a turnaround. With four downside gaps, I have to seek at least the 4450s or so… whether this side… or on the flip of Halloween.
I will not and shall not chase, with this type of s/t overbought market.
I remain seeking to pick up… OXY, SLB, MRO, RIG, KMI, X/CLF, F, FCX, and am considering UEC, DWAC.
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Early movers
AAPL +0.3%
AG +0.7%
AMD +1.1%, earnings due in AH
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AMZN +1.2%, earnings due Thurs’ AH
BA +0.7%
BAC +0.3%
BYND -2.5%, Credit Suisse 123>75
CCJ +1.6%
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CLF +0.8%, Morgan Stanley maintain ‘equalweight’, 21.00>22.50
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COIN +1.7%
Bitcoin is -0.5% in the $62000s. Momentum remains negative, and will likely be a problem into end month.
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DKNG +7.8%, company decides NOT to buy a bid for Entain
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DWAC -2.6%, day’4
F +0.9%
FB +2.0%, post earnings gains
FCX +0.7%, with copper -1cent to $4.51
GDX -0.1%
GOLD +0.1%
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GE +1.3%, EPS 57cents vs 44est. Rev’ y/y -0.5% to $18.4bn vs 19.2est. Guidance inline
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HAS +2.1%, EPS $1.96 vs 1.70est. Rev’ y/y +10.9% to $1.97bn inline. Guidance inline… but still warns of holiday sales with supply chain issues.
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LMT -6.6%, EPS $2.21 Rev’ $16.0bn , guidance lowered on supply chain issues.
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LOGI -8.1%, post earnings upset
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LLY +1.1%, EPS $1.94 vs 1.96est. Rev’ y/y +18.0% to $6.8bn vs 6.6est. Guidance raised.
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MMM -0.2%, EPS $2.45 vs 2.23est. Rev’ y/y +7.1% to $8.9bn vs 8.7est. Guidance lowered on supply chain issues
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MRNA +1.5%
MSFT +0.6%, earnings due in AH
MU +0.8%
NVDA +2.9%
OXY +0.6%, Goldman maintain ‘buy’, 40>43
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RTX +0.3%, EPS $1.26 vs 1.09est. Rev’ y/y +7.7% to $16.2bn vs 16.4est. Guidance mixed.
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SLB +0.3%
TSLA -0.3%
TLT +0.3%, as yields cool back
TLRY +2.7%
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TWTR +1.3%, earnings due in AH
UAL +0.9%
UEC +2.2%
UNG -2.9%, with Nat’ gas -10cents to $5.94
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UPS +4.5%, EPS $2.71 vs 2.55est. Rev’ y/y +9.2% to $23.2bn vs 22.6est. Raised guidance for its operating margin to 13.0%.
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VIX -2% in the 14s
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WM -1.3%, EPS $1.26 vs 1.36est. Rev’ y/y +20.8% to $4.7bn vs 4.5est. Positive guidance.
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X +1.1%
XOM +0.3%
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Overnight markets
Asian markets were very mixed, whilst European markets are broadly higher…
Japan: +1.8% at 29106
China: -0.3% ta 3597
Germany: currently +1.0% at 15748
UK: currently +0.6% at 7268
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Have a good Tuesday