Good morning. US equity futures are a little higher, SPX +8pts, we’re set to open at 4720. USD is +0.2% at DXY 96.31. The precious metals are leaning upward, Gold +$6, with Silver +0.3%. WTIC is -1.0% in the $71s.
sp’60min
Summary
Last week ended on a broadly positive note, with a mini ramp into the close. S/t momentum ticked upward, settling on the fractionally negative side.
Overnight futures have been leaning on the positive side, helped by most other world markets. S/t momentum should turn positive by mid morning, and carry the market upward into the mid afternoon.
I’d keep in mind that Wednesday afternoon will see the last FOMC announcement of the year. Typically, the market will lean upward ahead of the Fed. So… the bears will have opportunity from late Wed’, and more so… on Thursday.
Yours truly would like to lighten up, but I’d like to see better levels than current, not least in energy/oil.
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Early movers
AAPL +1.2%, pushing for a $3trn market cap. JPM 180>210
ABNB +2.1%, Chief accounting officer sold $42.3M of stock last Wed’
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ARNA +92%… Pfizer to buy Arena Pharma’ for $6.7bn
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BA -0.3%
BABA -1.0%
BAC +0.4%
BMY +1.8%, $15bn buyback, 10.2% div’ increase
CCL -1.5%, shippers lower on Omicron concerns
CLF +0.9%
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COIN +0.2%
Bitcoin is -2.4% in the $48000s. Momentum prone to turning positive in two days.
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DB -0.9%, weak EU financials
DKNG -0.4%, MoffettNathenson ‘neutral $36s’
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FCX +0.8%, with copper +1cent to $4.30
GDX +0.2%
GOLD +0.5%
GPRO +1.8%, Wedbush ‘outperform’, 11.00>13.50
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LYG -2.1%, weak UK financials
MRNA +1.5%, Chief Tech’ Operations sold $1.4M of stock last week
MU +1.8%
NVAX +2.7%
NVDA +1.0%
OXY -0.7%
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PFE +1.4%, Pfizer to buy Arena Pharma’ for $6.7bn. Indeed, with all the revenue from the shots… Pfizer is busy Christmas shopping.
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PTON +2.9%
RIVN +2.0%
SLB -0.9%
TSLA +0.3%
TLT +0.5%, yields cooling ahead of the Fed
TWTR +0.6%
UAL -1.4%, airlines lower on Omicron concerns
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VIX +2% in the 19s
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WYNN +1.0%
X +0.5%
XOM -0.5%
ZM +0.4%
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Overnight markets
Asian markets are were moderately higher, whilst European markets are rather mixed…
Japan: +0.7% at 28640
China: +0.4% at 3681
Germany: currently +1.0% at 15780
UK: currently -0.1% at 7284
Indeed, the UK market is struggling, as the hysteria has once again returned…
https://www.bbc.co.uk/news/live/uk-59632655
One death has been attributed to Omicron, and the UK regime are fine with destroying another chunk of the economy, at a time which is critical to retailers, restaurants, and bars. Sheer… gods damn madness!
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Have a good Monday
Yours… surrounded by maniacs.