US equities open moderately lower, as the market is naturally a little concern there will be no debt ceiling agreement ahead of the long weekend. USD is +0.3% at 103.41. The US 10yr prints 3.75%.
sp’60min
VIX’60min
Summary
Yes, the opening 30/60min candles are reversals, as price action is still mostly chop. To me, its just a case of whether we can settle under 4060 (to be decisive), or whether it remains chop.
–
notable stock: LOW
Earnings were ‘okay’. EPS $3.67 vs 3.45est. Rev’ y/y -5.5% to $22.3bn vs 21.7est. The drop in rev’ should be a concern, and I’d consider that number relative to inflation.
–
notable weakness: ZM
Headline earnings were also ‘okay’, with annual EPS of around $4.50. The problem is that growth is negligible, with little hope that will change.
—
notable stock: TSLA
Minor news… Tesla is selling China built cars to the Canadians.
You could argue that just means China demand is weak.
—
notable miner: GOLD
Barrick Gold lower with gold printing $1955, not helped by further dollar strength.