US equities open a little choppy, if leaning on the weaker side. USD is +0.5% at 104.30, with the US 10yr printing 4.13%… which isn’t helping most things.
sp’60min
VIX’60min
Summary
S/t momentum is on the very high side, and the market will be prone to burn off overbought conditions into early Tuesday. VIX is offering the equity bears… nothing, set to turn red, as nothing has really changed since last Friday.
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notable stock: CAT
New hist’ high. Earnings were broadly fine.
EPS $5.23 vs 4.76est. Rev’ y/y +2.8% to $17.1bn inline.
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notable weakness: MCD
Earnings were good.
EPS $2.95 vs 2.83est. Rev’ y/y +8.1% to $6.4bn inline. Global COMPS +3.4% vs 4.7est… middle east related boycotts.
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notable energy: SLB
I see any cooling as a buying opp’, for what is arguably the best of the oil/gas drillers.
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notable miner: GOLD
Lower with the sector, and gold printing $2030.