Good morning. US equity futures are broadly lower, SPX -25pts, we’re set to open at 4065. USD is +0.7% at DXY 104.55. The precious metals are broadly lower, Gold -$10 (printing $1827), with Silver -1.4% (printing $21.16). WTIC is -2.6% in the $76s.
sp’60min
Summary
Yesterday opened significantly lower, rebounded into the mid afternoon, if only to implode in the closing hour on comments from the Fed’s Bullard. S/t momentum ticked back lower into the close, settling marginally negative.
Overnight futures have been increasingly weak, not helped by other world markets.
*Yours truly has zero interest in hitting any buttons today. I’ll merely sit back, and hope we settle around 4100, to make for a better re-short next Tuesday.
**As things are, we appear set for a weekly blue Elder candle. That will give some extra confidence that 4195 is a key high. In theory, we should see a red Elder candle within 1-2 weeks.
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Early movers
AAPL -1.0%
AG -1.7%, lower silver
ALB -1.6%
AMAT +1.6%, post earnings gains
AMD -0.9%
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AMZN -0.6%
BABA -1.9%
BIDU -3.6%
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COIN -0.6%
Bitcoin is +1.2% at $23811
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CS -1.7%
DASH +5.6%, post earnings jump
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DE +3.4%, EPS $6.55 vs 5.47est. Rev’ y/y +33.7% to $11.4bn vs 11.1est. Positive guidance.
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DKNG +9.2%, post earnings jump
DVN -1.5%
EQT -1.3%, Gerdes 46>49, Truist 43>41
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FCX -1.3%, with copper -6cents to $4.06
GOLD -0.9%
LAC -1.4%
LYG -3.5%, UK financial garbage
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META -1.1%
MRNA -5.5%, flu vax trial didn’t go so well.
MSFT -0.5%
NSC -0.9%, Ohio
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NVDA -1.6%
OXY -1.6%
RIG -1.3%
ROKU +1.7%
SHOP -1.4%
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SLB -1.3%
TLT -0.4%, as the US 10yr continues to near 4.00%
TSLA -0.6%
TSM -1.8%
UAL -0.4%
UNG -2.5%, with Natgas $2.32
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VIX +3% in the 20s
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WPM -0.9%, lower silver
XOM -1.1%
ZM -1.9%
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Overnight markets
Asian and European markets both ending the week on a bearish note…
Japan: -0.7% to 27513
China: -0.8% to 3224
Germany: currently -1.1% at 15368
UK: currently -0.3% at 7985
Here in the failed state of the UK, the sheep/serfs remain annoyed at the energy/utility companies…
https://www.bbc.co.uk/news/business-64647854
The irony is that due to the price cap, the French (soon to be nationalised company) of EDF actually lost money on its UK consumers, due to the government’s price cap.
Its a great example of govt’ regulation causing problems.
If you were EDF, wouldn’t you just… pull the plug on the UK?
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Special note…
Today will be an open day, with my posts available to all. It remains the best (and free) way to market myself to the non-subscribing Twitter freeloaders 🙂
Have a good Friday