Good morning. US equity futures are fractionally lower, SPX -4pts, we’re set to open at 4389. USD is +0.3% at DXY 100.92. The precious metals are broadly lower, Gold -$14 (printing $1931), with Silver -1.5% (printing $24.08). WTIC is -1.2% in the $102s.
sp’60min
Summary
Yesterday saw significant gains reverse to very significant declines. S/t momentum tumbled into the close, settling on the very low side.
Overnight futures have been leaning on the weaker side, we’re set to open a little lower.
Yesterday’s bearish engulfing candles in many stocks and some indexes are set to play out. Best guess… early weak leaning chop, but then reversing upward to net daily gains of some degree.
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Early movers
AG -1.1%
ANF -2.8%
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AXP -1.9%, EPS $2.73 vs 2.47est. Rev’ y/y +29.5% to $11.7bn inline. Guidance held.
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CLF +5.8%, EPS $1.50 vs 1.49est. Rev’ y/y +47.1% to $6.0bn vs 5.4est. Guidance raised. Excellent 🙂
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COIN -0.1%
Bitcoin is +0.1% in the $40000s.
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CRSR -14.3%, issues updated guidance (Q1 earnings due May 5th). Corsair Gaming is struggling… much like Zoom.
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FB +0.9%
GDX -1.4%
GOLD -2.6%
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GPS -15.8%, updated guidance (Q1 earnings due May 26th). Old Navy CEO leaving.
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LAC +1.5%
LOGI -5.2%, in sympathy with CRSR
M -2.6%, in sympathy with GPS
MOS +1.2%
NAT +3.4%
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NEM -2.9%, EPS 69cents vs 72est. Rev’ y/y +5.3% to $3.02bn vs 3.06est. Broadly fine.
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NFLX +0.4%, another vain bounce attempt.
OXY -0.3%
PFE -0.3%
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SLB +2.8%, EPS 34cents vs 33est. Rev’ y/y +14.1% to $5.96bn vs 5.90est. Dividend +40% to $0.175, which is a good sign.
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SNAP +0.9%, earnings were garbage.
The stock remains m/t horror. Same for FB and TWTR.
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TLT -0.3%, as the US 10yr is pushing near 3.00%
TSLA +1.2%
TWTR +0.4%
UAL +1.8%
UNG +1.9%, with Nat’ gas printing $7.03
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VIX +2% in the 23s, but will be inclined to be ground lower into the weekend
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VZ -1.6%, EPS $1.09 vs 1.35est. Rev’ $33.55bn vs 33.38est. Guidance a touch weak.
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X +0.3%
XOM -0.3%
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Overnight markets
Asian markets were mixed, whilst European markets are ending the week on a rough note…
Japan: -1.6% at 27105
China: +0.2% at 3086
Germany: currently -1.9% at 14228
UK: currently -0.8% at 7565
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Have a good Friday