Good morning. US equity futures are fractionally lower (ahead of the CPI data), SPX -5pts, we’re set to open at 4582. USD is +0.05% at DXY 95.55. The precious metals are fractionally mixed, Gold -$2, with Silver +0.2%. WTIC is +0.4% in the $90s.
sp’60min
Summary
Yesterday saw the market build significant gains into the late afternoon. S/t momentum maxed out around midday, and ticked lower into the close.
Overnight futures have been very subdued. 8.30am will see the latest CPI data… and that could come in pretty hot. In theory, if it does… mr market will use it as an excuse to washout. The s/t cyclical setup certainly favours a cooling wave. The fact its a Thursday will inherently favour the bears.
I’d note the lower hourly bollinger at 4453… some 154pts lower. In any case… lets see the CPI print.
Yours truly has eyes on CFVI, but I’m also kinda interested in adding to my gold/silver miners. Energy stocks remain way over-stretched, and I just can’t add to any of them at this time/price.
—
Early movers
AZN +2.5%, post earnings gains
BABA -1.2%
–
CFVI -3.6% in the mid $13s. If the main market is hit… this should see the $12s… maybe even the $11s.
–
CLF -0.8%
–
COIN +0.1%
Bitcoin is +0.6% in the $44000s. Still stuck around the most recent lower high.
–
CS -5.6%, post earnings depression
DASH -3.8%
DDOG +13.0%, post earnings jump
DIS +7%, post earnings jump
F -0.6%
FCX +1.1%, with copper +8cents to $4.67, printing $4.70
–
GOOS -9.0%, post earnings upset
KO +1.3%, post earnings gains
–
MAT +10.4%, post earnings jump
MGM +1.5%, post earnings gains
MRNA -1.1%
MT -3.8%, post earnings depression
MU +3.7%
OXY +0.8%
–
PTON -1.3%
SLB +0.8%
SONO +5.0%, post earnings gains
TSLA -0.5%
TLT +0.2%, yields a little lower ahead of CPI
–
TPR +3.8%, post earnings gains
TWLO +20.0%, post earnings jump
–
TWTR +3.2%, EPS 33cents vs 34est. Rev’ y/y +21.6% to $1.57bn inline. Average mDAUs y/y +13% to 217M… of which 38M were ‘USA based’. $4bn buy back
–
UBER +5.5%, post earnings gains
–
VIX +3% in the 20s
–
X -0.4%
—
Overnight markets
Asian and European markets both leaned a little higher…
Japan: +0.4% at 27696
China: +0.2% at 3485
Germany: currently +0.4% at 15544
UK: currently +0.2% at 7658
—
Have a good Thursday