Good morning. US equity futures are leaning weak, SPX -15pts, we’re set to open at 6129. USD is -0.2% at DXY 106.83. The precious metals are leaning upward, Gold +0.3% (printing a new hist’ high of $2973), with Silver +1.0% at $33.65. WTIC is +0.5% in the mid $72s.
sp’60min
Summary
Yesterday opened a little weak, but the market leaned back upward, the SPX printing a new hist’ high of 6147. S/t momentum settled fractionally positive.
Overnight futures have been leaning a little weak, we’re set to open -15pts or so. The s/t cyclical setup favours the bears. Right now, an OPEX pin around 6100 looks most likely.
Yours truly remains interested in picking back up SMR from 20/19s.
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Early movers
AG +2.8%, EPS 3cents vs 4est. Rev’ y/y +25.9% to $172.3M vs 159.0est.
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BABA +10.6%, EPS $2.93 vs 2.66est. Rev’ y/y +4.7% to $38.4bn vs 38.2est.
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BAX +7.6%, EPS 58cents vs 52est. Rev’ y/y +0.9% to $2.75bn vs 2.67est.
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BILI +13.0%, EPS 15cents vs 14est. Rev’ y/y +21.7% to $1.06bn vs 1.07est
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CCJ +2.3%, 36cents vs 32est. Rev ‘y/y +90.8% to $1.18bn vs 1.08est.
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CLF +0.5%
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COIN +0.5%
Bitcoin is +0.8% at $97462
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CVNA -8.4%, post earnings upset
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CWAN +17.8%, EPS 13cents vs 11est. Rev’ y/y +27.7% to $126.4M vs 120.3est.
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ENVX -5.9%, post earnings depression
EXAS -2.9%, post earnings depression
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FCX +1.0%, with copper +5cents to $4.60
GOLD +1.1%
INTC -1.3%
IQ -8.3%, $300M convert’ corp’ debt offering
NBIS -5.0%
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NEM +0.9%
NXPI +3.6%, Citi, neutral>buy, 210>290, Mizuho, outperform, 240>255
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OXY +0.4%
PLTR -4.0%, s/t bubble burst, with the CEO looking to sell $1.2bn of stock
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SHAK +8.8%, EPS 26cents vs 24est. Rev’ y/y +14.8% to $328.7M vs 327.9est.
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SMCI -1.7%
SMR +1.5%
TECK +1.8%
TGT -2.4%, in sympathy with Walmart
TSLA +0.3%
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U -8.7%, EPS -30cents vs -37est. Rev’ y/y -25.0% to $457M vs 433est. Soft guidance
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UNG -3.4%, with Natgas $4.14
VALE +2.4%, post earnings gains
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VIX +2.2% at 15.60
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WMT -8.3%, EPS 66cents vs 64est. Rev’ y/y +4.2% to $180.6bn vs 180.0est. Soft guidance
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WRD -4.7%
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Overnight markets
Asian markets were weak, whilst European markets are moderately mixed…
Japan: -1.2% to 32678
China: -0.02% to 3350
Germany: currently +0.4% at 22520
UK: currently -0.4% at 8674
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Have a good Thursday