Good morning. US equity futures are leaning weak, SPX -15pts, we’re set to open at 5836. USD is +0.4% at DXY 104.37. The precious metals are mixed, Gold u/c (if printing a new hist’ high of $2772), with Silver -1.0% (cooling to $34.63). WTIC is -1.3% in the mid $70s.
sp’60min
Summary
Yesterday opened on a weak note, but there was a recovery… if still settling fractionally lower. S/t momentum settled fractionally negative.
Overnight futures have been leaning on the weaker side, we’re set to open -15pts or so. The s/t cyclical setup favours the bulls, and it won’t take much to see indexes turn positive.
Today’s big event… Tesla earnings, due in AH. I wonder if Elon ever gets stressed about the laggy stock price? Perhaps he is more focused on Starship test’6, seemingly due within the next four weeks!
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Early movers
AAPL -0.5%
AG -1.3%
ARM -3.5%, ending deal with QCOM
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BA -0.6, EPS -$10.44 vs -10.34est. Rev’ y/y -1.7% to $17.8bn vs 17.9bn. Boeing touts an order book of $500bn
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BSX +1.1%, EPS 63cents vs 59est. Rev’ $4.209bn vs 4.039est.
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COIN -2.2%
Bitcoin is -1.5% at $66401
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DJT +3.5%, another day closer
ENPH -15.4%, post earnings upset
FCX -1.6%, with copper -4cents to $4.34
FSLR -1.2%, in sympathy with sister Enphase
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GD -1.0%, EPS $3.35 vs 3.53est. Rev’ y/y +10.4% to $11.67bn v 11.64est.
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GOLD +0.2%
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KO -2.1%, EPS 77cents vs 74est. Rev’ y/y -0.4% to $11.9bn vs 11.6est.
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LRN +24.1%, EPS 94cents vs 20est. Rev’ y/y +14.8% to $551M vs 506est.
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MCD -6.8%, E-coli problems, which have harmed dozens, and maybe killed one.
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NNE -1.9%
NVDA -0.7%
OKLO -4.2%
QCOM -3.3%, lost deal with ARM
RUM +7.5%
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SAVE +26.5%, spurious gain for a company that has no realistic hope of a l/t future
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SBUX -3.5%, earnings (Tues’ AH), EPS 80cents vs 1.03est. Rev’ y/y -3.2% to $9.07bn vs 9.37est. Guidance dropped.
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SMR -3.3%
SNAP +2.4%
STX -4.1%, post earnings depression
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T +3.3%, EPS 60cents vs 57est. Rev’ y/y -0.05% to $30.21bn vs 30.45est. Global COMPS y/y-7.0%
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TSLA -0.5%, earnings due in AH
TXN +2.6%, post earnings gains
UAL -0.4%
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VIX +1.1% at 18.58
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VRT -7.3%, EPS 76cents vs 69est. Rev’ y/y +19.0% to $2.074bn vs 1.977est. Positive guidance.
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WGO -7.0%, EPS 28cents vs 89est. Rev’ y/y -6.5% to $721M vs 719est. Soft guidance
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XOM -0.4%
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Overnight markets
Asian markets were mixed, whilst European markets are leaning a little weak…
Japan: -0.8% to 38104
China: +0.5% to 3302
Germany: currently -0.1% to 19397
UK: currently -0.4% to 8274
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Have a good Wednesday