US equities are moderately higher. The micro 5/15min cycles offer some cooling into the close, as there remains no agreement on stim bill 4. It remains the case that lower equities would be the prime ‘motivator’ for the political hacks (on both sides) to agree on something.
sp’60min
VIX’60min
Summary
VIX is cyclically low, and there is threat of another attempt to break AND hold above 30 tomorrow. Equity support 3415, alarm bells if <3400.
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notable stock: INTC
Intel has earnings in AH. This one looks vulnerable, not least via competition from AMD. Options market is expected a move of +/- 5.5%.
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notable strength, JPM
The break above the 200dma is significant, as the financials are being helped by higher yields.
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notable miner:FCX
*I’d overlooked this one, as it posted earnings this morning.
EPS 29cents vs 21est. Rev’ y/y +16.4% to $3.8bn vs 3.7est. Broadly fine, helped with higher metals, and some progress in cutting costs. 2021 should be a good year for FCX, and sister stocks TECK and SCCO.
back at the close…