Good morning. US equity futures are leaning upward, SPX +12pts, we’re set to open at 4310. USD is -0.1% at DXY 103.39. The precious metals are a little mixed, Gold +$3, with Silver -0.1%. WTIC is -2.2% in the $68s (printing $67.67).
sp’60min
Summary
Last week ended with some chop, settling fractionally positive. S/t momentum weakened into the weekend, settling fractionally positive.
Overnight futures have been leaning on the positive side, we’re set to open +12pts (0.3%) to around 4310.
We should see some swings this week, with the CPI, PPI, and an FOMC. It should be clear, the Fed are set to do nothing.
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Early movers
AAPL +0.5%
ADBE +1.9%, earnings due Thurs’ AH
AMD +2.8%
AMZN +0.7%
CCL +5.6%, JPM neutral>overweight, 11>16
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COIN -1.6%… with Hugh Hendry touting one of his ‘smart friends’ this weekend, who was calling for $3
Bitcoin is +0.1% at $25963, as daily momentum remains marginally negative.
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FCX -0.8%, with copper -2cents to $3.76
MSFT +0.6%
NCLH +2.8%, JPM 15>16
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NIO +4.3%, cutting prices on all models.
BofA 12>11, JPM 10>8.50, Citi 13.40>11.50, Nomura, 25.80>7.50. The latter is especially embarrassingly late.
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NVDA +0.8%
ORCL +4.1%, Wolfe Research ‘outperform’, $130. earnings due in AH.
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OXY -0.9%
RCL +1.9%, JPM 100>103
SLB -1.2%
TGT +0.1%, a vain attempt to bounce
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TLT +0.1%
TSLA +1.6%
UAL +0.6%
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VIX +5% in the 14s
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XOM -0.9%
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Overnight markets
Asian and European markets are a little mixed…
Japan: +0.5% to 32434
China: -0.1% at 3228
Germany: currently +0.6% at 16044
UK: currently +0.02% at 7563
Here in the failed state of the UK, an ethical corporate hack calls for higher taxes on ‘unhealthy food’…
https://www.bbc.co.uk/news/business-65872962
The hypocrisy of someone who sells bottled water, which uses more plastic (of which little is recycled) than almost any other product out there.
Further…we’ve concerns of higher mortgage rates…
https://www.bbc.co.uk/news/business-65876570
The ECB are set to raise rates this Thursday, with the BoE due June 22nd.
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Have a good Monday