US equities open broadly flat, with pre-market gains of 25pts having fully eroded. Copper printed $4.77. WTIC climbs to $67.17, with Natgas $4.48
sp’60min
VIX’60min
Summary
The concern should be that next natural support isn’t until around 5400.
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notable stock: TSLA
You could argue yesterday saw capitulation on high vol’. Again, the concern should be the main market might still be a few days away from flooring.
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notable stock: NVDA
There are buyers out there.
A more natural floor would be 101/psy’100
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notable Dow component: DIS
Losing the 200dma. Partly dragged lower by the airlines, on concerns of less tourist travel to the Disney parks.
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notable retail: KSS
Earnings were mixed… EPS 95cents vs 73est. Rev’ y/y -9.4% to $5.17bn vs 5.14est. Weak guidance. The annual drop in sales is pretty horrific.
The stock is m/t horror, and it can be asked… does Kohls have a l/t future?
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notable stock: VZ
Three days of hysteria… all eroded on a gap lower.
Verizon warning about increased consumer churn.
Sister AT&T is being dragged lower.