Good morning. US equity futures are fractionally higher, SPX +7pts, we’re set to open at 5822. USD is +0.2% at DXY 102.92. The precious metals are mixed, Gold u/c, with Silver -1.3% (printing $30.94). WTIC is -2.3% in the mid $73s.
sp’60min
Summary
Last week ended on a bullish note, the SPX printing a new hist’ high of 5822. S/t momentum settled marginally positive.
Overnight futures have been subdued, we’re set to open a little higher, but it will likely be enough to generate another (if fractional) new hist’ high, making it another day/week for the bulls.
Background chatter is increasingly ‘wild’, with talk of oil to $350, and China threatening Taiwan via a simulated attack. We’re still not quite halfway through October, and we should expect further… surprises.
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Early movers
AAPL +0.6%
ARKB +2.7%
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AMGN -1.3%, Truist, buy>hold, 320>333
APP -3.3%, Goldman, neutral, $150
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BA -2.1%, Boeing firing 17,000 (10%) of its workforce. I’d imagine ex-CEO Calhoun is delighted to have recently left, and be out of that plane wreck.
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BABA -1.6%
BIDU -2.1%
CAT -2.1%, Morgan Stanley, underweight, $332
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COIN +3.2%
Bitcoin is +3.2% at $64881, with daily momentum having turned positive.
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DJT -1.3%
FCX -1.1%, with copper -8cents to $4.41
GOOS -3.8%, Wells Fargo, underweight, C$16 > C$12
LVS -1.6%
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MARA +4.8%, higher Bitcoin
MSTR +5.7%
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NIO -2.9%, weak Chinese stocks
NVDA +0.9%
OKLO +1.3%
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RIVN -1.4%
SIRI +3.2%
SMCI +1.4%
TSLA +1.0%, a relative dead cat bounce to last Friday
UAL +0.3%
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UNG -1.9%, with Natgas $2.58
UPST +2.7%, Wedbush, underperform>neutral, 10>45
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VFC -3.0%, Wells Fargo, underweight, 16>15
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VIX +0.2% at 20.51
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WYNN -1.7%
XOM -0.5%
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Overnight markets
Asian markets were very mixed, whilst European markets are a little mixed…
Japan: CLOSED
China: +2.1% to 3284
Hong Kong: -0.7% to 21092
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Germany: currently +0.2% at 19418
Italy: currently +0.4% at 34445
UK: currently -0.1% at 8247
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Have a good Monday