Good morning. US equity futures are broadly flat, SPX -1pt, we’re set to open at 5858. USD is -0.1% at DXY 102.95. The precious metals are mixed, Gold u/c (printing $2669), with Silver -0.5% (printing $30.95). WTIC is -4.5% in the mid $70s (printing $69.71).
sp’60min
Summary
Yesterday saw the market build broad gains into the late afternoon, breaking a new hist’ high of 5871. S/t momentum weakened across the afternoon, settling on the moderately high side.
Overnight futures have been very subdued, we’re set to open broadly flat. The s/t cyclical setup favours the bears, with momentum prone to turning negative this afternoon.
The background chatter is increasingly scary, as Israel appears set to attack Iran’s energy facilities. From there… it will only escalate. It should be clear where this is headed, both for Israel… and the western world.
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Early movers
AA -2.1%, earnings due Wed’ AH
AAPL +1.2%
AMD -1.0%
BA +0.8%
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BAC +2.3%, EPS 81cents vs 78est, and vs 90 prior yr. Rev’ y/y +0.7% to $25.5bn vs 25.3est.
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BABA -4.2%, weak Chinese stocks
BIDU -3.5%
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C +1.1%, EPS $1.51 vs 1.31est. Rev’ $20.3bn vs 19.8est.
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COIN -1.1%
Bitcoin is -0.9% at $65438. Momentum is still increasingly positive.
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CVX -2.4%
DJT +8.5%… another day closer
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ERIC +10.7%, EPS 11cents vs 8est. Rev’ y/y +2.5% to $6.1bn vs 5.7est.
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ETSY -4.3%
FCX -2.4%, with copper 6cents to $4.34
GOOGL +0.5%
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GS +3.0%, EPS $8.40 vs 7.03est. Rev’ y/y +7.5% to $12.7bn vs 11.9est.
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JD -6.1%
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JNJ -1.0%, EPS $2.42 vs 2.21est. Rev’ y/y +5.2% to $22.5bn vs 22.2est.
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LVS -3.4%
NIO -4.5%
NVDA -0.6%
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OKLO +6.1%, hot nuclear stocks
OXY -3.0%
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SCHW +8.0%, EPS 77cents vs 75est. Rev’ $4.84bn vs 4.77est. Client assets y/y +27.0% to $9.92trn
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SLB -3.1%
SMR +1.5%, hot nuclear stocks
TSLA +0.4%
UAL +1.6%
UEC +2.1%, bullish Uranium
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UNH -3.1%, EPS $7.15 vs 7.03est. Rev’ y/y +9.1% to $100.8bn vs 99.3est, and vs 92.4 prior yr.
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VIX +0.1% at 19.73
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WBA +5.0%, EPS 39cents vs 36est. Rev’ y/y +6.0% to $37.5bn vs 35.7est. Three year plan to close 1200 stores.
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WOLF +24.7%, $2.5bn in new funding, $750M via US Chips act, $750M new financing (Apollo et al), and $1bn of ‘cash-tax refunds’.
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WYNN -1.9%
XOM -2.9%
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Overnight markets
Asian markets were very mixed, whilst European markets are moderately mixed…
Japan: +0.8% to 39910
China: -2.5% to 3201
Germany: currently +0.2% at 19554
UK: currently -0.6% at 3243
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I managed to restrain myself to just the first two episodes last night, as my journey with Walter, Jesse, Skylar, and Hank has begun!
Have a good Tuesday