Good morning. US equity futures are moderately higher, SPX +29pts, we’re set to open at 5826. USD is -0.2% at DXY 104.00. The precious metals are bouncing, Gold +0.7% (printing $2752), with Silver +1.3% (printing $34.48). WTIC is +0.5% in the mid $71s.
sp’60min
Summary
Yesterday saw the market slide across the day… with a late afternoon bounce from around a key price threshold. S/t momentum settled on the very low side.
Overnight futures have been leaning upward, especially helped by Tesla and the European markets, we’re set to open +25/30pts.
The s/t cyclical setup favours the bulls… at least into 11am. I’d be mindful of a stall around the hourly 10MA, as daily momentum is currently negative.
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Early movers
AAL -3.0%, EPS 30cents vs 15est. Rev’ y/y +0.9% to $13.600bn vs 13.471est.
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ABNB +1.5%
AG +2.2%
AMAT +3.4%
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ARM -1.3%
ASTS +2.7%
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BA -3.7%, the Machinists reject the pay deal. Susquehanna, 210>200, Baird, 240>200, Wolfe Res’, 200>195, Fubon, 200>176, Wells Fargo, 109>86
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BABA -1.2%
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COIN +2.9%
Bitcoin is currently +0.7% at $67053
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DJT -1.8%, just a little cooling
EXK +2.2%
FDX +2.7%, higher with UPS
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HON -2.9%, EPS $2.58 vs 2.50est. Rev’ y/y +5.6% to $9.7bn vs 9.9est.
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IBM -5.0%, post earnings depression
JD -1.4%
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KDP -1.1%, EPS 51cents inline. Rev’ y/y +2.3% to $3.9bn inline… as consumers still want Dr Pepper.
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LRCX +6.2%, post earnings jump
LYFT -2.4%
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MAT +2.9%, EPS $1.14 vs 0.95est. Rev’ y/y -4.2% to $1.84bn vs 1.86est. Barbie boom fades, replaced via Hot Wheels and ‘adult collectors’
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MU +1.5%
NEM -5.5, earnings were very good, if below estimates.
NNE +5.4%
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NVDA +1.2%
OKLO +3.3%
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QS +18.2%, earnings (Wed’ AH), EPS -23cents inline. The company is tiny, but the battery tech is superb… recently licensed to VW.
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RIG +2.9%, chatter it might merge with SeaDrill
RIVN +2.4%
SAVE -5.8%
SDRL +9.0%, chatter it might merge with Transocean
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SMR +1.4%
SNAP +1.3%
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TECK -3.1%, EPS C$0.43 vs 0.38est. Rev’ y/y +43.7% to C$2.86bn vs 2.76est.
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TLT +0.7%, as yields cool back
TSLA +13.2%, post earnings leap
UBER -2.4%
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UPS +7.0%, EPS $1.76 vs 1.62est. Rev’ y/y +5.6% to $22.25bn vs 21.13est.
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VIX -2.6% at 18.74
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Overnight markets
Asian markets were mixed, whilst European markets are moderately higher…
Japan: +0.1% to 38143
China: -0.7% to 3280
Germany: currently +0.6% at 19500
UK: currently +0.5% at 8304
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Have a good Thursday