Good morning. US equity futures are moderately higher, SPX +19pts, we’re set to open at 5506. USD is +0.2% at DXY 105.08. The precious metals are broadly higher, Gold +$9 (printing $2359), with Silver +2.6% (printing $30.54). WTIC is +0.1% in the mid $80s.
sp’60min
Summary
Tuesday saw micro chop, if still breaking a new hist’ high of 5490. S/t momentum weakened across the day, settling fractionally positive.
Overnight futures have been increasingly positive, we’re set to open moderately higher, +20/25pts… into Tom Lee’s 5500s.
I’d keep in mind the s/t cyclical setup does favour the bears, and threatens a downside reversal. Again though, any such cooling would be restrained.
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Early movers
ACN +6.6%, EPS $3.13 vs 3.16est. Rev’ y/y -0.6% to $16.5bn inline. Mixed guidance.
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AG +2.4%
AMD +1.3%
ARKB +3.1%
BA -0.4%
CMC +3.3%, post earnings gains
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COIN +2.2%
Bitcoin is +2.1% at $66326. Momentum is starting to swing back toward the crypto bulls.
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DELL +2.9%, racks to be used for XAi super computer
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DJT -10.5%, SEC allows the company to sell or exercise warrants, and might receive $247M in proceeds. Such exercised warrants would dilute the existing stock.
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DRI +1.5%, EPS $2.65 vs 2.61est. Rev’ y/y +8.3% to $3.0bn inline. Mixed guidance.
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EXK +2.1%
FCX +1.0%, with copper +1cent to $4.49, Citi, 46>52
GFI +5.2%
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GME -1.8%
GOLD +0.8%
HL +2.3%
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HON -0.7%, Honeywell to buy CAES systems (from a private equity firm) for around $2.0bn
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KBH +1.9%, post earnings gains
MARA +2.4%
META +0.8%, Keybanc, 475>540
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MU +2.4%, yet another set of upgrades! Wells Fargo, 135>190, Fox, 140>185
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NEM +0.7%
NVDA +3.4%, Tigress, 98.50>170
OXY +1.0%
PAAS +2.6%
PLTR +1.9%
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SMCI +4.7%, racks to be used for XAi super computer
TLT -0.4%
TSM +2.2%
UNG -1.5%, with Natgas $2.85
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VIX +2.4% at 12.59
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WGO -5.5%, EPS $1.13 vs 1.31est. Rev’ y/y -12.7% to $786M vs 798est.
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XOM +0.2%
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Overnight markets
Asian and European markets were a little mixed…
Japan: +0.2% to 38633
China: -0.4% to 3005
Germany: currently +0.6% at 18179
UK: currently +0.1% at 8214
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Have a good Thursday