Good morning. US equity futures are broadly flat (ahead of CPI), SPX u/c, we’re set to open at 4412. USD is +0.2% at DXY 100.13. The precious metals are a little mixed, Gold +$1, with Silver -0.3%. WTIC is +2.9% in the $98s.
sp’60min
Summary
Yesterday saw the market lean weak across the day, ending significantly lower. S/t momentum weakened into the close, settling on the moderately lower side.
Overnight futures have been very subdued. Whilst we’re set to open broadly flat… the CPI data – due 8.30am, is likely going to be a major market moving event.
Even if we bounce on a ‘buy the hot CPI news’… I’d still look for another wave lower before the Easter break.
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Early movers
AAPL -0.2%
AG +0.8%
AMC -1.7%, dumb apes.
AMD -0.3%
CCJ +1.4%, hot Uranium stocks
CLF +0.6%
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COIN -0.3%
Bitcoin is +1.7% in the $40000s
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CRWD +3.3%, Goldman, neutral>buy, 241>285
CSCO -2.4%, Citi neutral>sell, 65>45
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DB -1.3%, weak German/EU financials
FCX +0.1%, with copper +3cents to $4.67
GDX +0.2%
HSBC -1.9%
LAC +0.3%
NIO +1.6%
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OXY +1.6%
RIG +1.9%
SLB +1.6%
TLT -0.2%, as yields rise ahead of CPI
TSLA -0.4%
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TWTR -0.7%, Ms. Wood of ARKK sold 185k shares, still holding 831k
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UNG +1.1%, with Nat gas +13cents to $6.77
The break above $6.50 is decisive, and it offers the 9/psy’10. That’d certainly help the related energy stocks. For the US/global consumer… not so much.
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VIX +0.5% in the 24s
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XOM +1.2%
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Overnight markets
Asian markets were very mixed, whilst European markets are broadly weak…
Japan: -1.8% at 26334
China: +1.5% at 3213
Germany: currently -0.9% at 14070
UK: currently -0.4% ta 7585
Russia: currently -2.8% at 988
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Have a good Tuesday