Good morning. US equity futures are broadly flat, SPX +3pts, we’re set to open at 6120. USD is +0.3% at DXY 106.59. The precious metals are fractionally mixed, Gold -0.1%, with Silver +0.1%. WTIC is -0.7% in the upper $71s.
sp’60min
Summary
Yesterday saw broad downside, with a rather typical latter day recovery, if settling moderately lower. S/t momentum settled marginally negative.
Overnight futures have been very subdued, we’re set to open broadly flat. The s/t cyclical setup favours the bulls, but I’d not expect much for OPEX, and would look for a pin around 6100.
Yours truly will merely consider whether to lighten up into the weekend.
If not… I’ve few concerns about holding OXY and SMR from current levels.
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Early movers
AKAM -9.8%, earnings (Thurs’ AH), EPS $1.66 vs 1.51est. Rev’ $1.02bn vs 1.01est. Weak guidance
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BABA +3.7%
BKNG +2.8%, post earnings gains
CELH +31.9%, post earnings leap
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COIN +0.9%
Bitcoin is +0.5% at $98827, as the s/t cyclical setup favours the bulls this weekend.
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CVS -3.2%, in sympathy with UNH
DBX -7.8%, post earnings upset
ELV -3.3%, in sympathy with UNH
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FIVN +16.5%, post earnings leap
HUM -3.8%, in sympathy with UNH
INOD +9.0%, post earnings jump
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INTC +0.8%, having yesterday bounced from the 200dma
MELI +11.3%, post earnings jump
NEM -0.4%, post earnings cooling
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NVO +2.2%
OKLO +3.1%
OXY -0.4%
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RIVN -3.5%, post earnings depression
SMCI +1.2%
SMR +1.3%
TGT -1.1%
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U +2.9%
UNG +1.6%, with Natgas $4.24
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UNH -9.6%, DoJ investigating Medicare billing. Just another corrupt big pharma’ corporate pig, right?
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VIPS +5.6%, EPS 78cents vs 72est. Rev’ y/y -6.8% to $4.55bn vs 4.42est.
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VIX -1.5% at 15.42
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WRD +4.9%, in the $27s, but looks on track for the $20s
XOM -0.3%
XYZ -9.1%, post earnings upset
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Overnight markets
Asian markets were broadly higher, whilst European markets are fractionally higher…
Japan: +0.3% to 38776
China: +0.8% to 3379
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Germany: currently +0.1% at 22341
… I’d keep in mind the failed state of Germany will have an election this Sunday. The AFD party should see massive gains… but not enough to win.
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UK: currently +0.1% at 8669… as Herr Starmer continues his reign of terror, not least via the corrupt courts and associated pigs.
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I’m inclined to go back to bed, and wrap myself up in aluminum foil.
Have a good Friday