Good morning. US equity futures are fractionally lower, SPX -4pts, we’re set to open at 5963. USD is +0.7% at DXY 99.02. The precious metals are leaning upward, Gold +0.2%, with Silver +0.5%. WTIC is +1.3% in the mid $74s (printing $78.40).
sp’60min
Summary
Last week ended a little weak, with s/t momentum settling on the moderately low side.
Overnight futures have recovered from a low of SPX -58pts… to broadly flat, as the market remains extremely resilient to adverse news.
Now… its merely a case of how the month settles. As noted Friday… the default is net bullish into August.
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Early movers
AAL -1.6%, higher oil/fuel
ACHR -1.9%
AG +0.6%
ASTS -2.6%
B +0.4%
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COIN -2.2%
Bitcoin is +0.3% at $101K, with the buyers appearing from $98K
XRP is -3cents at $1.99. I’d be a buyer… except my Coinbase account has been cashed out.
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CRCL +6.2%… the hysteria continues
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HIMS -16.0%, Novo Nordisk appears to have terminated its partnership with Hims & Hers Health
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INTC -0.4%
EXEL +26.0%, positive drug study results
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FDX -0.6%, death of founder. Earnings due Tues’ AH
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FI +3.5%, Fiserve to launch a stablecoin
LMT +0.3%
MARA -2.5%
MSTR -1.7%
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MU -0.3%, earnings Wed’ AH
NAT +3.3%, higher shipping rates?
NEM +0.6%
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NVDA -0.9%
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NVO -5.0%, Novo Nordisk appears to have terminated its partnership with Hims & Hers Health
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OXY +2.7%
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QBTS -2.4%
RCAT -2.0%
RKLB -3.7%
RTX +1.2%, as war is good for business
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SMCI -3.4%, $2bn convert’ corp’ debt offering.
TSLA +0.4%
UAL -0.8%
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VIX +4.6% at 21.55
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XOM +1.9%
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Overnight markets
Asian markets were a little mixed, whilst European markets are a touch lower…
Japan: -0.1% to 38354
China: +0.6% to 3381
Germany: currently -0.3% at 23288
UK: currently -0.01% at 8773
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Have a good Monday