Good morning, for what is SpaceX day. US equity futures are leaning upward, SPX +40pts, we’re set to open at 7434. USD is -0.1% at DXY 99.49. The precious metals are leaning weak, Gold -0.1%, with Silver -0.4%. WTIC is -3.5% at $84.60.
sp’60min
WTIC, daily
A daily/weekly close <84.00 would arguably be decisive, and offer grander downside to the 200dma… $73s.
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As for equities…
Yesterday saw a few tweet inspired swings, ending on a positive note, on yet another Trump claim that a deal is near. S/t momentum settled on the high side.
Overnight futures have been leaning upward, we’re set to open +40pts or so.
The market will be inclined to rollover by late morning.
Re: SpaceX, as noted yesterday, best guess… I’m inclined to see some cooling, as we might see a repeat of Facebook in May 2012.
Yours truly is content on the sidelines, but I need to get involved again soon.
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Early movers
ADBE -6.4%, EPS $5.96 vs 5.82est. Rev’ y/y +12.7% to $6.61bn vs 6.45est... but the market still wasn’t satisfied.
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AMD +2.2%
ASTS +2.3%, once SpaceX is listed, I’d look for some cooling
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COIN +0.4%
Bitcoin is +0.2% at $63K
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CRWV +5.1%
FCX +1.4%, with copper +12cents to $6.40
GOOGL +1.3%
KTOS +2.9%
META +0.9%
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MRVL -1.6%
MU -0.8%
NEM +0.9%
NVDA +0.5%
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OXY -1.0%
PAAS +1.1%
RKLB +4.6%, once SpaceX is listed, I’d look for some cooling
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SMCI -1.7%
SMR +6.0%
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SPCX … IPO $135.00. Is $200 possible today, before cooling back?
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TSLA +0.5%
UAL +0.5%
UGA -2.0%
UNG -1.3%, with Natgas $3.04
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VIX -2.0% at 19.05
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XOM -0.5%
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Overnight markets
Asian and European markets all ending the week significantly higher…
Japan: +2.8% to 66020
China: +1.1% to 4031
Germany: currently +1.6% at 24589
UK: currently +1.1% at 10420
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Special note…
Its been a few months… today will be an ‘Open Day’, with my posts available to all. Its the best (and free) type of advertising I can get.
Have a good Friday