Good morning. US equity futures are leaning weak, SPX -7pts, we’re set to open at 4267. USD is -0.3% at DXY 106.09. The precious metals are fractionally lower, Gold -$1, with Silver -0.1%. WTIC is -0.2% in the $93s (printing $95.03).
sp’60min
Summary
Yesterday saw early gains fail to hold, with a new cycle low of 4238. S/t momentum settled marginally positive.
Overnight futures have been subdued, (as of 7.45am ET), we’re set to open a little lower.
The only issue between now and the weekend… is whether today or tomorrow sees a daily close under the 200dma. If yes, then Monday threatens a mini crash.
Otherwise… bulls could hope for a tag of both upside gaps to around 4400.
*If late Friday afternoon, we’re not sustainably trading under the 200dma, I should drop my little crash block, as there would be little point in holding across the weekend.
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Early movers
AAPL -0.2%
ACN -4.3%, post earnings depression
AMZN -1.1%
BA -0.4%
BABA -1.1%
CCL -2.2%, earnings due early Friday
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COIN +1.0%
Bitcoin is +0.4% at $26459
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F -0.2%
FCX +0.7%, with copper +5cents to $3.69
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GME +8.0%, Ryan Cohen is new CEO/President
GOLD +0.3%
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HPQ -1.4%
KMX -13.4%, post earnings horror
MSFT -0.3%
MU -4.4%, post earnings depression. JPM ‘overweight’, 75>80
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NCLH -1.7%, sinking shippers
NIO +2.2%
NKE +0.1%, earnings due in AH
NVDA -0.3%
OXY +0.2%
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PTON +13.5%, 5yr partnership with Lululemon
RCL -1.1%
SLB +0.3%
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TLT -0.6%, as yields climb
TSLA -0.6%
UAL -0.5%, fuel price concerns
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VIX +0.1% in the 18s
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XOM +0.2%
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Overnight markets
Asian markets were very mixed, whilst European markets were fractionally mixed…
Japan: -1.5% to 31872
China: +0.1% to 3110
Germany: currently +0.05% at 15225
UK: currently -0.2% at 7574
Here in the failed state of the UK…
https://www.bbc.co.uk/news/business-66936976
… chatter that the probability of blackouts will be less than last year.
I’m skeptical, as underlying generation is ever less.
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Have a good Thursday