Good morning. US equity futures are fractionally higher, SPX +4pts, we’re set to open at 4267. USD is -0.1% at DXY 106.46. The precious metals are fractionally mixed, Gold -$2, with Silver +0.1%. WTIC is -1.9% in the $82s.
sp’60min
Summary
Yesterday saw numerous minor swings, if ending on a positive note. S/t momentum ticked upward into the close.
Overnight futures have been leaning on the weaker side… but nothing that merits as anything than ‘moderate’.
I would look for early weakness, but an upside reversal. Friday offers better chance for the bulls, on more ‘bad news is good news’. Basic upside target are the 4330s, and the more cautious bears will remain very much patient.
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Early movers
ACCD -7.7%, post earnings upset
AG +0.8%
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COIN +0.1%
Bitcoin is -0.2% at $27734
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DVN -1.3%
F -0.4%
FCX -0.2%, with copper -2cents to $3.56
GOLD +0.3%
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LAC -1.1%
LAAC -5.3%, day’2
MU +1.0%
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NKE -0.6%
NVDA +0.6%
OXY -0.3%
PINS +2.2%
RGP -10.9%, post earnings upset
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RIVN -8.6%, $1.5bn convert’ corp’ debt offering.
SLB -1.2%
TEVA -2.6%
TM +2.3%
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TSLA +0.2%
UAL +0.9%
VFS +4.1%, spurious bounce
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VIX -0.4% in the 18s
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VLO -1.2%
XOM -1.2%
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Overnight markets
Asian markets were very mixed, whilst European markets are leaning a little higher…
Japan: +1.8% to 31075
China: CLOSED
South Korea: -0.1% to 2403
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Germany: currently +0.02% at 15102
UK: currently +0.4% to 7441
Here in the failed state of the UK…
https://www.bbc.co.uk/news/business-67017972
EV sales to private buyers are collapsing, although still climbing for company fleets, with the UK regime set to ban gasoline vehicles.
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Have a good Thursday