Good morning. US equity futures are moderately higher, SPX +20pts, we’re set to open at 6329. USD is +0.05% at DXY 97.17. The precious metals are a little mixed, Gold -0.3%, with Silver +0.1%. WTIC is -1.0% in the upper $64s.
sp’60min
Summary
Yesterday saw considerable chop, if settling fractionally higher. S/t momentum settled on the moderately low side.
Overnight futures have been leaning upward, partly helped by trade deal news. We’re set to open +20pts to around 6330, as a new hist’ high appears probable.
If TSLA and GOOGL are seen as ‘tolerable’ in AH, then the market should be >6350 early Thurs’.
Further, the market will be inclined to climb into the Fed… due July 30th.
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Early movers
AAPL +0.2%
ACHR +3.3%
ADI -4.9%, in sympathy with TXN
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AMD +0.5%
BYND +15.6%, news?
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COIN +0.2%
Bitcoin is -1.1% at $118K
XRP is -10cents at $3.46. Momo prone to turning neg’ in 3-4 days.
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DNUT +40.4%, Wallstreetbets
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ENPH -7.4%
EVTL +1.7%
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FCX +1.6%, EPS 54cents vs 44est. Rev’ y/y +14.5% to $7.58bn vs 7.09est.
… with copper +9cents to $5.84, as the $6s are clearly viable within the immediate term.
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FI -12.4%, EPS $2.47 vs 2.43est. Rev’ y/y +8.0% to $5.51bn vs 5.20est. Buying a part of TD’s Merchant processing business in Canada.
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GD +2.8%, EPS $3.74 vs 3.44est. Rev’ y/y +8.9% to $13.04bn vs 12.18est.
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GEV +4.7%, EPS $1.86 vs 1.69est. Rev’ y/y +11.1% to $9.11bn vs 8.78est.
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GOOGL +0.1%, earnings due in AH
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HAS +4.3%, EPS $1.30 vs 1.22 prior yr. Rev’ $980.8M vs 995.3 prior yr.
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HMC +10.5%, USA-Japan trade deal
JOBY +3.3%
KSS -1.7%
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MARA -4.9%, $850M convert’ corp’ debt offering
MRNA +2.2%
NVDA +0.8%
NVO +2.5%
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NXPI -3.1%, in sympathy with TXN
ON -5.8%, in sympathy with TXN
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PL +3.0%
PLTR +0.9%
QS -2.5%, just s/t cooling
RKLB +2.6%
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SAP -4.0%, post earnings depression
SMR +4.7%
SRPT -1.4%… the horror continues
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T -3.4%, EPS 54cents vs 52est. Rev’ y/y +3.4% to $30.8bn vs 30.4est.
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TDOC +6.3%
TM +12.3%, USA-Japan trade deal
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TSLA +0.1%, earnings due in AH
TXN -9.8%, post earnings horror
UAL +0.8%
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VIX -2.4% at 16.11
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VZ -1.2%, in sympathy with T
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Overnight markets
Japan: +3.5% to 41171 (the hist’ high is 42426 from July 2024)
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China: +0.01% to 3582
Germany: currently +0.6% at 24176
UK: currently +0.5% at 9069
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Have a good Wednesday