Good morning. US equity futures are moderately higher, SPX +22pts, we’re set to open at 5864. USD is -0.1% at DXY 103.32. The precious metals are moderately higher, Gold +0.4% (printing $2704), with Silver +0.4% (printing $32.12). WTIC is +0.1% in the mid $70s.
sp’60min
Summary
Yesterday saw the market open a little mixed, but battle upward into the late afternoon. S/t momentum ticked upward across the day, settling marginally negative.
Overnight futures have been leaning on the positive side, especially helped by European markets. The SPX is set to open +20/25pts, with s/t momentum prone to turning positive by 11am.
I’d keep in mind OPEX is tomorrow, which will bode for broad chop on higher vol’. As things are, we’re set for a pin of 5800 or 5850.
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Early movers
AA +6.3%, post earnings jump
AAPL +0.7%
AMD +2.6%
ARM +3.6%
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ASTS -1.8%, just a little cooling
BA -0.3%
BABA -0.7%, weak Chinese stocks
BIDU -1.8%
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BX +3.3%, EPS $1.01 vs 0.94est. Rev’ y/y +4.6% to $2.43bn vs 2.41est.
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COIN -0.8%
Bitcoin is -1.1% at $66835. Comfortably s/t bullish so long as >60K
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CSX -4.3%, post earnings depression
DFS -1.4%, post earnings cooling
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ELV -11.5%, EPS $8.37 vs 9.66est. Rev’ +5.3% to $44.7bn vs 43.3est. Soft guidance.
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EXPE +4.7%
FCX u/c, with copper -3cents to $4.33
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FTNT -2.3%, Mizuho, neutral>underperform, $68
GFI +3.8%
GOLD +1.0%
HMY +5.0%
INTC +1.2%
LAC +8.8%
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LCID -17.4%, secondary offering, with the House of Saud to increase their stake. Updated weak guidance.
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MU +2.1%
NEM +0.9%
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NOK -5.2%
NIO -2.9%
NNE -3.8%, just a retrace
NVDA +3.1%
OKLO -1.9%, just a little cooling
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RIO -2.0%
RIVN -1.0%, in sympathy with LCID
RKLB -2.3%
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SMCI +3.4%
SMR -2.5%
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TRV +4.2%, EPS $5.24 vs 3.64est. Rev’ y/y +11.9% to $11.9bn vs 11.5est.
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TSM +8.8%, EPS $1.94 vs 1.77est. Rev’ y/y +36.0% to $23.5bn vs 23.1est. Most excellent.
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UBER -3.5%
UEC +3.3%, hot Uranium miners
VALE -1.8%
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VIX -6.3% at 19.34
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Overnight markets
Asian markets were broadly lower, whilst European markets are broadly higher…
Japan: -0.7% to 38911
China: -1.0% to 3169
Germany: currently +0.8% at 19587
UK: currently +0.4% at 8364
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Have a good Thursday