Good morning. US equity futures are flat, SPX u/c, we’re set to open at 6263. USD is -0.1% at DXY 97.11. The precious metals are broadly higher, Gold +0.3%, with Silver +1.1%. WTIC is -0.5% in the low $68s.
sp’60min
Summary
Yesterday saw an opening downside reversal, but there was no follow through, with a secondary push upward to settle moderately higher. S/t momentum turned fractionally positive.
Overnight futures have been subdued, we’re set to open flat. The s/t cyclical setup marginally favours the bears.
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Early movers
AAL +7.1%, pulled upward by Delta
AAPL -0.5%, as Lightshed Partners argue (on CNBC) CEO Cook should be replaced
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AEM +0.3%
AMD +1.6%, HSBC, hold>buy, 100>200
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CAG -3.0%, EPS 56cents vs 58est. Rev’ y/y -4.3% to $2.78bn vs 2.83est. The annual drop in sales is worse… considering inflation.
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CLF +2.6%
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COIN +0.1%, Wainwright, buy>sell, 305>300
Bitcoin printed a new hist’ high of $112007, if currently -0.1% at $111K
XRP is +4cents at $2.45
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CRCL +2.8%, working with Jack Ma’s Ant group
CRSP +5.0%
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DAL +11.9%, EPS $2.10 vs 2.05est. Rev’ y/y -0.1% to $16.65bn vs 15.45est. F/y guidance restored. Delta argues demand has stabilised, if remaining soft.
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ERJ -5.6%
FCX +2.6%, with copper +14cents to $5.62
INTC +0.5%
KLG +52.0%, chatter that Ferrero might buy WK Kellog
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MBLY -3.9%, Intel is selling its stake
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MP +40.4%, DoD contract for rare earths
NEM +0.5%
NVDA +0.8%
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RIO +3.3%, higher copper
ROKU +2.7%, Keybanc, sector-weight>overweight, $115
SCCO +2.0%, copper
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SMPL -3.5%, EPS 51cents vs 50est. Rev’ y/y +13.8% to $380.9M vs 381.7est.
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T -1.0%, dragged down by T-Mobile
TSLA +1.1%
UAL +7.9%, pulled upward by sister Delta
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VIX +0.2% at 15.98
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VZ -1.6%, dragged down by T-Mobile
WDAY -1.7%, Piper Sandler, neutral>underweight, 255>235
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Overnight markets
Asian markets were moderately mixed, whilst European markets are broadly mixed…
Japan: -0.4% to 39646
China: +0.5% to 3509
Germany: currently +0.1% at 24575
UK: currently +1.2% at 8971
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Have a good Thursday