US equities open significantly lower on hotter than expected inflation data. WTIC $72.19. USD is +0.3% at 108.19. US 10yr +112bps at 4.649%.
sp’60min
VIX’60min
Summary
We’ve a bounce, but I’m pretty dismissive of it.
Daily momentum has turned negative, and bodes bearish into next Tuesday’s open.
On consideration… I’ve EXITED Intel from $21.62.
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notable stock: INTC
Chatter from VP Vance, about the importance of domestic semicon production. Indeed… that IS a positive for Intel.
Pre-market gains of +6%… eroded, due to the weak main market.
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notable weakness: CLF
Lower with the main market.
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notable car: TSLA
Highly prone to turning red.
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notable miner: GOLD
Earnings were fine… EPS 46cents vs 41est. Rev’ y/y +19.2% to $3.64bm vs 3.98est. $1bn buyback. Divi’ 10cents