Good morning. US equity futures are leaning upward (ahead of PPI), SPX +20pts, we’re set to open at 6532. USD is +0.02% at DXY 97.39. The precious metals are moderately higher, Gold +0.7%, with Silver +0.5%. WTIC is +1.0% in the low $63s.
sp’60min
Summary
Yesterday saw considerable chop, if leaning upward into the close. S/t momentum settled fractionally positive.
Overnight futures have been leaning upward, helped by other world markets. We’re set to open +20pts or so… although that might change with the PPI data.
The default is to expect the market to net higher into next Wednesday’s FOMC. Ongoing price action offers nothing to the bears, whom should arguably remain on the sidelines until 2.05pm… next Wed’, and then re-assess.
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Early movers
AAPL -0.4%
AMD +3.6%, pulled upward by ORCL
AMZN -0.4%
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AVAV +2.4%, post earnings gains
AVGO +2.2%
BABA -1.3%
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CHWY -7.2%, EPS 33cents vs 14est. Rev’ y/y +8.4% to $3.10bn vs 3.08est.
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COIN +0.4%
Bitcoin is +0.7% at $112K
XRP is +2cents at $2.97
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CRWV +9.6%
CWD +9.3%, but VERY unstable
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GME +10.3%, post earnings jump
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HPQ -1.0%, Evercore, outperform>inline, $29
MP +1.1%
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MU +1.5%
NBIS -1.4%, just cooling back
NEM +1.2%
NIO -8.6%, planned stock offering of around 181M shares
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NKE +1.6%, Cowen, hold>buy, 62>85
NVDA +2.6%, pulled upward by ORCL
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OCTO -11.0%
ONDS +2.7%
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ORCL +32.0%, post earnings leap!
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PAAS +0.6%
PLTR +2.3%
SMR +3.0%
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TECK +2.8%
TSLA +0.4%
UNH -0.6%
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VIX -0.5% at 14.96
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XPEV -1.9%
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Overnight markets
Asian and European markets are all battling upward…
Japan: +0.9% to 43837
China: +0.1% to 3812
South Korea: +1.7% to 3314
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France: currently +0.6% at 7796
Germany: currently +0.2% at 23756
UK: currently +0.4% at 9284
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Have a good Wednesday