Good morning. US equity futures are leaning weak, SPX -20pts, we’re set to open at 6644. USD is -0.1% at DXY 97.13. The precious metals are sig’ higher, Gold +1.1% (new hist’ high $3728), with Silver +1.7% (new cycle high $43.79). WTIC is -0.6% in the low $62s.
sp’60min
Summary
Last week ended on the most bullish note possible, printing a new hist’ high of 6671. S/t momentum settled marginally positive.
Overnight futures have been leaning weak, as the s/t cyclical setup favours the bears… if only for a few hours.
The more interesting action remains in gold, silver, and the related miners. Whilst the s/t concern shall remain a main market multi-week cooling wave, the real issue is silver hasn’t even broken >psy’ $50 yet, which is where things would get real interesting.
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Early movers
AAPL +0.5%
AEM +2.4%
ARKB -1.9%
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ASTS +4.6%, positive background chatter, inc’ from BofA.
B +2.7%
BIDU +2.8%
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BMNR -4.2%, secondary offering, $365M from $70 a share.
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CDE +4.5%
CLSK -3.6%
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COIN -2.6%
Bitcoin is -2.1% at $112K, momentum due to turn negative.
XRP is -15cents at $2.82, as momo has turned negative.
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COST u/c, earnings due Thurs’ AH
DRD +3.8%
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FOXA +4.0%, Trump calls Lachlan Murdock an ‘American Patriot’… in relation to the likely Tiktok deal.
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GFI +1.1%
HL +3.6%
HMY +3.0%
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INTC -1.3%
JOBY -2.8%
JPM -1.6%
MARA -3.3%
MP -1.0%
MU +0.1%, earnings due Tues’ AH
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NEM +2.3%
NVO -2.2%
PAAS +3.8%
PFE +1.5%
PLTR -1.2%
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QBTS -6.3%
QS -2.3%
SMR -2.8%
SNAP +6.1%, Tiktok
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SRPT +6.2%, BMO, market-perform>outperform, $50
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TSLA +0.8%
UNG -1.6%, with Natgas $2.87
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VIX +4.5% at 16.14, but most of the gain is technical, due to the new week.
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Overnight markets
Most markets are leaning upward…
Japan: +1.0% to 45493
China: +0.2% to 3828
Germany: currently -0.7% at 23463
UK: currently +0.1% at 9222
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Have a good Monday