Good morning. US equity futures are leaning upward, SPX +7pts, we’re set to open at 4376. USD is -0.2% at DXY 102.70. The precious metals are a little higher, Gold +$3, with Silver +0.6%. WTIC is +1.5% in the $70s.
sp’60min
Summary
Yesterday saw the SPX break a new multi-month high of 4375, if cooling a little in the late afternoon. S/t momentum weakened, if still settling on the moderately high side.
Overnight futures have been subdued, if leaning a little higher, helped by most other world markets.
Yours truly is looking to launch another hit & run short… just after the 2pm press release. The s/t cyclical setup favours it. Even a 25/30pt swing lower would merit it.
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Early movers
AMD +3.3%. Yesterday’s daily candle was bearish engulfing, and is highly suggestive today will see the stock turn red at some point.
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CAT +0.8%
CCL +2.9%
CLF +2.0%
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COIN +1.1%
Bitcoin is +0.3% at $26005
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CVS -3.5%, news?
ELV -3.1%, in sympathy with United Health
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FCX +2.4%, with copper +1cent to $3.84
GOLD +0.5%
HUM -7.5%, in sympathy with United Health
INTC -0.4%
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LOGI -10.3%, CEO walks.
META +0.4%
OXY +1.0%
RIG +1.7%
SLB +1.1%
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TGT +0.4%
TLT +0.1%, … with yields fractionally lower.
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TM +5.2%, Toyota shareholders vote against a measure to ‘improve performance, as based on climate change’… as the war against ESG continues!
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TSLA +2.0%, day 14 UP.
UAL +0.6%
UBS +1.7%
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UNH -5.2%, warns of higher medical costs, as more old people elect for procedures that they didn’t do across 2020-22.
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VIX -0.5% in the 14s
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X +2.1%
XOM +0.9%
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Overnight markets
Asian markets were very mixed, whilst European markets are moderately higher…
Japan: +1.5% to 33502
China: -0.1% to 3228
Germany: currently +0.6% at 16326
UK: currently +0.6% at 7637
Here in the failed state of the UK, Chancellor Hunt (some call him something else), warns there is no alternative to further rate hikes…
https://www.bbc.co.uk/news/business-65891838
The BoE are set to raise rates June 22nd.
*The ECB will raise rates tomorrow.
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Have a good Wednesday