Good morning. US equity futures are moderately higher, SPX +26pts, we’re set to open at 4143. USD is -0.05% at DXY 106.33. The precious metals are mixed, Gold -$13, with Silver +0.1%. WTIC is -0.7% in the $84s.
sp’60min
Summary
Last week ended with a fair amount of chop, if settling on a weak note. S/t momentum settled marginally negative.
Overnight futures have been leaning on the positive side, helped by most other world markets. We’re set to open +25/30pts.
*yours truly is content to hold short into late Tuesday/Halloween, but I don’t want to be heavy short into Fed day. I’ll hope for a downside reversal today, with October ending on a ‘rough’ note… the closer to 4K, the better.
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Early movers
AAPL +0.6%, earnings due Thurs’ AH
ALB +1.3%, earnings due Wed’ AH
AMZN +1.1%
BAC +0.6%
CCJ +1.3%, deal with China Nuclear Intl’
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COIN +2.0%
Bitcoin is +0.04% at $34458, as 35K resistance is holding.
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F +0.8%
FCX +1.6%, with copper +4cents to $3.69
GOLD -0.4%
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JPM +0.8%, last Friday’s loss of the 200dma merits alarm bells.
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MCD +2.2%, EPS **
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META +0.6%
MSFT +0.8%
NEM -0.5%
NIO +1.6%
NVDA +1.3%
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SOFI +6.0%, EPS **
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TLT -0.5%
TSLA +1.3%
UAL +0.7%
UNG -3.9%, with Natgas $3.32
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VIX -2% in the 20s. Its difficult not see a burst >23 this week, with big target of psy’30, to sync with s/t equity capitulation.
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XPO +7.0%, EPS 88cents vs 64est. Rev’ $1.98bn vs 1.93est.
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Overnight markets
Asian markets were mixed, whilst European markets are broadly higher…
Japan: -0.9% at 30696
China: +0.1% at 3021
Germany: currently +0.7% at 14792
UK: currently +0.9% at 7354
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Have a good Monday