Good morning. US equity futures are moderately lower, SPX -15pts, we’re set to open at 4123. USD is +0.3% at DXY 101.47. The precious metals are mixed, Gold +$11 (printing $2040), with Silver -0.2%. WTIC is -0.5% in the $72s.
sp’60min
Summary
Yesterday saw considerable micro chop, with the SPX settling effectively flat. S/t momentum ticked lower across the day, if still settling on the moderately high side.
Overnight futures have been leaning weak, especially pressured by European markets.
Yours truly wants to wait for the 4160s, and that doesn’t look realistic today. Further, the cautious will be waiting until the CPI data has been issued.
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Early movers
AAPL -0.5%
AMD -0.9%
BABA -2.7%, weak Chinese stocks
BAC -0.6%
BNTX -1.6%
DVN -0.7%, post earnings cooling
FCX -0.5%, with copper -2cents to $3.90
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FSR -12.8%, EPS -38cents vs -28est. Rev’ y/y +1550% to $0.2M vs 2.5est. Fisker touting reserved orders of 65K, looking to produce 32-36k in 2023.
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GOOGL +0.5%
GOLD +0.6%
LCID -10.8%, post earnings upset
MSFT -0.6%
NIO -2.3%
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NVAX +6.0%, EPS -$3.41 vs -3.56est. Rev’ y/y -88.5% to $81M vs 94est. Novavax touting positive guidance, with a restructuring/cost reduction…. 25% firings. I see no l/t future.
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NVDA -0.8%
OXY -0.4%
PACW -8.9%
PYPL -5.6%, post earnings depression
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PLTR +15.5%, post earnings jump
RIVN -3.1%
SWKS -9.5%, post earnings upset
TLT +0.6%
TSLA -1.2%
TSN +0.7%, dead cat bouncing
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UAA -5.0%, EPS 18cents vs 15est. Rev’ y/y +7.7% to $1.4bn inline. Weak guidance, as consumers are cutting back.
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UAL -0.8%
UNG -2.0%, with Natgas $2.19
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VIX +4% in the 17s
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WAL -1.9%
WDC +2.4%, post earnings gains
XOM -0.7%
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Overnight markets
Asian markets were very mixed, whilst European markets are leaning weak…
Japan: +1.0% to 29242
China: -1.1% to 3357
Germany: currently -0.3% at 15909
UK: currently -0.4% at 7746
Here in the failed state of the UK…
https://www.bbc.co.uk/news/business-65498421
… we’ve another push for zero deposit mortgages. Its another desperate measure to re-pump the housing market… which the UK populace have supported since the 1980s.
… never mind the notion that offering huge debts to those who can’t even offer ANY degree of deposit. Sheer financial lunacy!
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Have a good Tuesday