Good morning. US equity futures are leaning upward, SPX +24pts, we’re set to open at 5719. USD is -0.1% at DXY 102.18. The precious metals are mixed, Gold +0.1%, with Silver -1.1%. WTIC is -2.0% in the mid $75s (initially printing $78.46)
sp’60min
Summary
Yesterday saw increasing weakness, with the collective of indexes settling broadly lower. S/t momentum settled marginally negative.
Overnight futures have been leaning a little higher, we’re set to open +20/25pts. The s/t cyclical setup favours the bulls, if only until around 11am.
Best guess… any opening gains won’t hold. As ever, I’d look for the two leaders – Trans/R2K, to lead the way down.
—
Early movers
AA -3.3%
AAPL +0.5%
ACCD -1.8%, post earnings depression
–
AFRM +4.7%, BTIG, neutral>buy, $68
ALB -3.7%
AMZN +0.6%
–
BABA -6.6%, Chinese ADRs getting smashed
BIDU -7.7%
BILI -13.1%
–
CAT -1.1%
CLF -2.3%, antitrust review for its bid for Stelco expires
–
DJT +1.7%
DOCU +5.4%, to join the SPX 400 (as of Oct’11)
–
DOW -1.8%
FCX -3.5%, with copper -11cents to $4.45
–
HON +1.8%, seeking to spin off ‘Advanced Materials’ unit for around $10bn.
–
HSBC -3.3%
INTC -0.5%
JD -8.5%
LVS -3.8%
NIO -9.3%
–
NVDA +2.0%
OXY -1.6%
–
PEP -0.8%, EPS $2.31 vs 2.29est. Rev’ y/y -0.6% to $23.3bn vs 23.8est. Again, another company with an annual decline in sales, as the consumer can’t even afford soda and chips.
–
RIO -4.5%
SAGE -10.7%, bad study resultsacc
SLB -0.9%
SMCI +4.2%
TME -10.1%
–
TSLA +0.9%
UNG +1.2%, with Natgas $2.75
VALE -3.8%
–
VIX -2.8% at 22.01
–
WFC +1.3%, earnings due Friday
WYNN -4.3%
XOM -1.3%
—
Overnight markets
It was a pretty wild night in Asia. Whilst Chinese stocks jumped… the Hong Kong market effectively crashed, with the biggest one day drop since 2008. European markets are leaning on the weaker side… arguably spooked by HK.
Japan: -1.0% to 38937
China: +4.6% to 3489
Hong Kong: -9.4% to 20926
–
Germany: currently -0.2% at 19064
France: currently -0.6% at 7529
UK: currently -1.1% at 8210
—
Have a good Tuesday