Good morning. US equity futures are broadly weak, SPX -30pts, we’re set to open at 3996. USD is -0.4% at DXY 105.53. The precious metals are mixed, Gold +$5, with Silver u/c. WTIC is -3.1% in the $73s… with next major support of the $62s.
sp’60min
Summary
Last week ended with considerable micro chop, settling effectively flat. S/t momentum weakened across the half day, settling fractionally positive.
Overnight futures have been broadly lower, largely pressured by other world markets. S/t momentum will clearly turn negative at the open.
Soft target are the 3970s, and then yellow gap… the latter is realistic this week.
Yours truly is short, and wants to roll out from the Dec’ SPY Puts into Jan’. I’ll be content with any exit much below <3900. Right now, prime day for that will be Thursday.
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Early movers
AAPL -1.8%
AMD -1.2%
AMZN +0.6%, its ‘cyber Monday’
ATVI +1.1%, ongoing chatter about the MSFT deal
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BIIB -4.8%, a participant died in an Alzheimer’s drug trial.
One death… and they’re spooked? A reminder of how the mRNA gene therapy shot injury/deaths were just allowed ‘to slide’.
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BYND -3.4%, Barclays 13>10
CAT -1.1%
CCL -0.6%
CLF -1.6%
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COIN -2.5%
Bitcoin is -1.2% at $16222
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CS -3.3%… are you hearing alarm bells for Credit Suisse?
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DIS -0.9%
DKNG -4.4%
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FCX -0.8%
GOLD +1.2%
LAC -1.4%
LI -3.6%, China protest concerns
LVS +3.1%, JPM upgrade $51
MGM +1.9%
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MSFT -0.5%
OXY -2.3%
RIG -2.7%
SHOP +5.8%, cyber Monday hopes?
SLB -2.2%
SWN -2.6%, lower Natgas
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TLT +0.6%, as yields cool
TSLA -2.0%, China protest concerns
UAL -0.7%
UNG -4.5%, with Natgas $7.07
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VIX +8% in the 22s… soft target 25/26s
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WYNN +5.9%, new Macau licences. JPM upgrade $91
XOM -1.8%
ZM -0.9%
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Overnight markets
Asian and European markets have begun the tail end of November on a weak note…
Japan: -0.4% to 28162
China: -0.7% to 3078
Calls for Xi to step down… is a surprising thing to see. Regardless, the CCP remain in absolute control. How long until they fully clamp down on this, and start mass shooting the protesters?
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Germany: currently -0.9% at 14404
UK: currently -0.4% at 7459
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Have a good Monday