Good morning. US equity futures are a little weak, SPX -4pts, we’re set to open at 4125. USD is u/c at DXY 101.55. The precious metals are moderately lower, Gold -$14 (printing $1992), with Silver -0.3%. WTIC is +0.6% in the $77s.
sp’60min
Summary
Yesterday opened on a weak note, and despite a few bounce attempts… the market settled moderately lower. S/t momentum settled on the moderately low side.
Overnight futures have been mostly leaning on the weaker side, not helped by most world markets.
Its OPEX, so expect considerable chop on higher vol’. I have to see the market makers inclined for a pin around 4100.
SPX daily momentum should turn negative today.
VIX daily momentum might turn positive next Monday.
Yours truly is looking to dig out of a hole, with SPX 4030/4000 next week, with VIX 21/22s.
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Early movers
AAPL -1.6%
ABNB -2.4%
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ALB -4.2%, Chile plans to nationalise its Lithium industry. As I sometimes say…. those South Americans sure love their communism. Good luck with that.
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AMD -0.4%
AMZN +0.8%, loses EU court appear about antitrust
BABA -1.4%, weak Chinese stocks
CLF -1.0%
DB -0.6, weak European fins
EXK -1.0%
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FCX +0.3%, EPS 52cents vs 45est. Rev’ y/y -18.4% to $5.39bn vs 5.25est.
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HCA +6.0%, EPS $4.85 vs 3.92est. Rev’ y/y +4.3% to $15.6bn vs 15.3est. Positive guidance.
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GOLD -0.9%
LAC -1.5%
META -1.2%
MSFT -0.7%
NVDA -0.6%
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PG +2.1%, EPS $1.37 vs 1.32est. Rev’ y/y +3.5% to $20.0bn vs 19.3est. Marginally positive guidance
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SLB -1.1%, EPS 63cents vs 61est. Rev’ y/y +30% to $7.7bn vs 7.5est.
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SQM -6.8%, Chile to nationalise its Lithium industry
STX -1.8%, post earnings cooling
TGT +0.5%
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TSLA +0.3%, dead cat bouncing
TSM -1.5%
UAL -0.2%
UNG -1.1%, with Natgas $2.18
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VIX +2% in the 17s
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X -1.2%
XOM -0.2%
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Overnight markets
Asian markets were broadly weak, whilst European markets are a little mixed…
Japan: -0.3% to 28564
China: -1.9% to 3301
Germany: currently -0.3% at 15745
UK: currently +0.1% at 7913
Here in the failed state of the UK…
https://www.bbc.co.uk/news/business-65345590
Retail sales were lousy, m/m -0.9%.
Laughably, some are hopeful. The reality is that with many household bills adjusting +15% in April, I have to expect some degree of collapse wave into the summer.
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Have a good Friday