Good morning. US equity futures are fractionally higher, SPX +7pts, we’re set to open at 5561. USD is +0.01% at DXY 101.32. The precious metals are a little mixed, Gold u/c, with Silver +0.3%. WTIC is +2.0% in the mid $68s.
sp’60min
Summary
Yesterday saw very significant downside, but a typical turn around 11am, and ending significantly higher. S/t momentum ticked upward into the close, settling on the very high side.
Overnight futures have been subdued, we’re set to open fractionally higher. The s/t cyclical setup favours some cooling. Soft support 5500.
The bears will get one last opportunity to swing things lower ahead of the weekend. Next Mon-Wed’ 2pm, will inherently favour the bulls ahead of the FOMC.
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Early movers
ALB +0.2%
ALK +4.7%, updated positive guidance, inc’ lower fuel costs
ASTS -3.0%
AU -2.2%
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BA -0.5%
BAC +0.4%
BNTX -1.4%
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CAL -15.6%, EPS $0.85 vs 1.22est. Rev’ y/y -1.8% to $683M vs 723est. An ugly double miss, with guidance cut.
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COIN +1.6%
Bitcoin is +1.2% at $58067, with momentum having turned positive.
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CRM +0.7%
DJT -1.7%
FCX +2.2%, with copper +7cents to $4.21
GOOGL +0.9%
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MRNA -6.3%, updated guidance, cutting R&D by -1.1bn
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MU -3.1%, BNP Paribas, 160>125
NIO -1.8%
NVDA +0.4%
OXY +0.8%
ROKU +2.7%
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SIG +10.5%, EPS $1.25 vs 1.14est. Rev’ y/y -7.6% to $1.49bn vs 1.50est. COMPS -3.4%. The annual drop in revenue should be a concern.
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SLB +0.6%
TSLA -0.6%
UAL +0.7%
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VIX +1.0% at 17.86
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X +0.6%
XOM +0.6%
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Overnight markets
Asian markets were very mixed, whilst European markets are broadly higher…
Japan: +3.4% to 36833
China: -0.2% to 2717
Germany: currently +1.2% at 18556
UK: currently +0.8% at 8257
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An inspiring start to the day.
… but I also see news that the failed state of Australia says it will fine social media companies ‘up to 5% of their global revenue’ for allowing users to post ‘information’.
The global noose on freedom continues to tighten, and I have no realistic hope of anything other than digital global dystopia.
One Spacewalk doesn’t negate any of that.
Have a good Thursday