Good morning. US equity futures are broadly flat, SPX -1pt, we’re set to open at 3580. USD is u/c in the DXY 92.30s. The precious metals are broadly flat, Gold -$1, with Silver u/c. WTIC is +0.2% in the $42s.
sp’60min
Summary
Yesterday opened on a weak note, but saw a latter day recovery to settle moderately higher. S/t momentum ticked upward from mid morning.
Overnight futures have recovered from significant declines, and we’re set to open broadly flat.
Whilst the s/t cyclical setup does favour the bulls, as its OPEX, I would not expect anything significant/sustained in either direction.
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Early movers
AAPL +0.2%
AMZN +0.3%
AMRN +16.7%, positive drug study data
BA -0.2%
BAC -0.2%
CCL +1.4%
CLF +3.7%, Keybanc ‘overweight to $12′
CRSR +1.4%
FCX +1.1%, with copper +6cents to $3.26
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FL +3.6%, EPS $1.21 vs 63cents est. Rev’ y/y +9.0% to $2.11bn vs 1.95est. COMPS +7.7%. Broadly good.
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GDX +0.2%
GOLD +0.2%
GILD -1.4%, WHO advises (once again) against use of Remdesivir
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GRPO +2.5%, $125M corp’ debt offering
M -0.6%
MRNA +3.2%
MU +0.6%
NCLH +1.3%
PFE +1.6%, applies for emergency use of Corona vaccine
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PLTR +2.4%
RCL +1.6%
ROST +3.4%, post earnings jump
TGT +0.6%
TSLA -0.2% in the $498s, for OPEX… the market makers will surely want to see this pinned at giant psy’500.
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TLT +0.4%, yields still cooling
TWTR +0.3%
UAA -1.1%
UAL +0.2%
UBS -1.0%
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VIX -2% in the 22s. With Thanksgiving next week, its very possible VIX will trade under the key 20 threshold. That would please Tom Lee, and to many, it’d be another equity buy signal.
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WDAY -2.5%, post earnings cooling
WSM +7.5%, post earnings jump
XOM +0.5%
ZM +0.9%
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Overnight markets
Asian markets were moderately mixed, whilst European markets are moderately higher…
Japan: -0.4% at 25527
China: +0.4% at 3377
Germany: currently +0.4% at 13143
UK: currently +0.5% at 6365
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Have a good Friday