Good morning. US equity futures are fractionally lower (ahead of the jobs data), SPX -4pts, we’re set to open at 4313. USD is -0.2% at DXY 105.81. The precious metals are mixed, Gold +$2, with Silver -0.7%. WTIC is +0.7% in the $82s.
sp’60min
Summary
Yesterday saw the market climb across the day. S/t momentum did weaken in the afternoon, if still settling on the high side.
Overnight futures have been leaning a touch weak, not helped by the reaction to Apple earnings.
I’d keep in mind we’ve the monthly jobs data at 8.30am. As we’ve seen lately, any lousy data is being seen as good news, as all Mr Market really cares about is the hope of lower rates and renewed printing.
Yours truly holds a moderate size short block from 4288. I’ll consider adding today, if pushing out to a further strike… Dec’1st. Basic downside/retrace target are the 4230s. Clearly, the latter looks out of range today, and instead Mon/Tues’.
—
Early movers
AAPL -2.3%, post earnings depression, as revenue continues to decline (if slowly)
–
AMD -0.4%
BABA +1.3%
BKNG -3.2%, post earnings depression
–
BURL +5.8%, to join the SPX 400 (as of Nov’7)
CAH +2.5%, post earnings gains
–
COIN -4.8%, post earnings depression
Bitcoin is -2.2% at $34174. Momentum continues to weaken, and is due to turn negative on Saturday.
–
DKNG +6.6%, post earnings jump
EXPE +10.8%, post earnings jump
–
EOG +1.8%, EPS **
–
F +0.5%
FCX -0.3%, with copper -1cent to $3.66
–
FLR +6.7%, EPS $1.02 vs 0.56est. Rev’ y/y +9.7% to $4.0bn vs 3.9est. Positive guidance. Flour chosen by BHP for stage 2 of the Jansen Potash project in Canada
–
FTNT -22.8%, post earnings horror
FUBO +14.0%, post earnings jump
GOLD +0.2%
HD -1.0%
JPM -0.2%
–
MU +1.2%
NET -4.6%, post earnings depression
NIO +1.5%
NVDA -0.5%
PARA +5.0%, news?
–
SHEL -1.8%
SQ +16.0%, post earnings jump, esp’ helped on $1bn buyback
–
SWKS -3.9%, in sympathy with Apple?
TLT -0.1%
TSLA -0.9%
–
VIX +0.5% in the 15s
–
WBD +1.8%
XOM -0.3%
—
Overnight markets
Asian markets were broadly higher, whilst European markets are a little mixed…
Japan: CLOSED
China: +0.7% to 3030
South Korea: +1.1% to 2368
–
Germany: currently +0.3% at 15187
UK: currently -0.1% at 7443
—
Have a good Friday