Good morning. US equity futures are moderately higher, SPX +22pts, we’re set to open at 4417. USD is -0.3% in the DXY 93.21s. The precious metals are a little mixed, Gold +$3, with Silver -10.%. WTIC is -0.1% in the $71s.
sp’60min
Summary
Yesterday saw the market battle hard to maintain gains of some degree. S/t momentum ticked lower across the afternoon, as the market is s/t overbought.
Overnight futures are moderately higher, especially helped by other world markets.
I’d note upper hourly bollinger at 4418, just 14pts below the upper end of teal gap. Pushing much beyond 4430/40s looks a stretch before the weekend.
—
Early movers
AAPL +1.0%, pushing against the 50dma.
Manufacturers will be forced to create universal charging solution for phones and small electronic devices, under new rule proposed by European Commission https://t.co/Zwx8gLC3Vv
— BBC News (World) (@BBCWorld) September 23, 2021
The EU is demanding one standardised plug/connection type to charge all mobile phones. Its actually a pretty good idea, but Apple won’t like it.
–
ACN +2.5%, post earnings gains
AG +1.1%
AMC +3.2%
AMD +1.0%, Piper Sandler 110>120
BAC +1.0%
BB +8.2%, post earnings jump
CCJ +1.6%, trying to build a floor
CLF +2.4%
–
COIN +1.0%
Bitcoin is +0.4% in the $43000s. Momentum prone to turning positive early next week.
–
CRM +1.7%, updated/raised guidance
DRI +3.8%, post earnings jump
F +1.0%
FB +1.1%
FCX +1.3%, with copper -2cents to $4.22
FUL +2.6%, post earnings gains
GDX +0.5%
GOLD +0.4%
–
LVS +1.9%
MRO +0.8%
MOMO -1.0%
–
NVDA +1.2%
OXY +0.8%
RIG +1.8%
ROKU +2.4%
–
SLB +1.0%
TSLA +1.0%
TLT -0.3%, yields a little higher
TLRY +3.7%, Wallstreetbets?
TWTR +0.9%
–
U +3.7%
UAL +0.7%
UBER +0.6%
UNG +1.3%, with Nat’ gas printing $4.83
VALE +2.8%
–
VIX -5% in the 19s. A weekly close under the key 20 threshold looks increasingly likely.
–
WYNN +0.9%
X +1.6%
XOM +0.4%
—
Overnight markets
Asian markets were broadly higher, whilst European markets are leaning positive…
Japan: CLOSED
China: +0.4% at 3642
Hong Kong: +1.2% at 24510
–
Germany: currently +0.8% at 15626
UK: currently +0.1% at 7092
—
Another day… another supply side shortage story…
Its a lousy report, as 2022 doesn’t offer much hope of significant improvement. If you read around, the number of problems is distinctly increasing. A case of buy a car whilst you still can?
Have a good Thursday