Good morning. US equity futures are fractionally lower, SPX -6pts, we’re set to open at 6687. USD is -0.01% at DXY 96.97. The precious metals are broadly higher, Gold +0.8%, with Silver +0.4%. WTIC is +0.9% in the low $63s.
sp’60min
Summary
Yesterday opened a little weak, but clawed back upward to print a new hist’ high of 6698. S/t momentum settled on the moderately high side.
Overnight futures have been subdued, we’re set to open fractionally lower. The s/t cyclical setup favours the bears.
Powell is due this lunchtime, but I’d imagine he will continue to tread the thin dovish-hawkish line, without upsetting Mr Market.
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Early movers
AAPL -0.5%
AEM +0.8%
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AZO -2.1%, EPS $48.71 vs 50.91est. Rev’ y/y +0.6% to $6.24bn inline.
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BA +2.2%, Trump said Uzbekistan and/or Turkey might place orders
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BIDU -2.9%
BMNR +2.2%
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CLSK +5.2%, credit facility with ‘coinbase prime’ increases by $100M
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COIN +0.6%
Bitcoin is currently +0.15% at $112K. Momentum has turned negative.
XRP is currently +1cent at $2.87
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CRWV +2.1%, Wells Fargo. equal-weight>overweight, 105>170
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CWD +17.3%, set to use ‘coinbase prime’
DRD +3.0%
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FLY -10.3%, post earnings upset
JOBY +1.3%
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KVUE +4.7%, bouncing after the Trump admin argue Tylenol is problematic on multiple grounds.
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LRCX -0.9%, inverse to TSM ?
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MU +0.6%, earnings due in AH
NEM +0.9%
NVDA -1.1%
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OKLO -3.1%, Seaport Global, buy>neutral. Ms. Wood of ARKK sells Oklo stake
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ORBS +1.9%
PAAS +1.5%
PLTR +1.3%
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SMR -2.1%
TSLA +0.8%
TSM +3.7%
UEC-0.7%, earnings due early Wed’
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VIX +0.2% at 16.13
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WEN -1.4%, Argus, buy>hold
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Overnight markets
Asian markets were mixed, whilst European markets are leaning upward…
Japan: CLOSED
China: -0.2% to 3821
South Korea: +0.5% to 3486
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Germany: currently +0.2% at 23585
France: currently +0.6% at 7878
UK: currently +0.03% at 9229
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Have a good Tuesday