Good morning. US equity futures are moderately lower, SPX -18pts, we’re set to open at 5875. USD is +0.2% at DXY 106.38. The precious metals are broadly higher, Gold +0.9% (printing $2640), with Silver +0.6% (printing $31.62). WTIC is -0.3% in the upper $68s.
sp’60min
Summary
Yesterday saw a bounce, with afternoon chop. S/t momentum settled marginally positive. Structure was a bull flag.
Overnight futures have been leaning a little weak, we’re set to open -15/20pts… which would negate/break the bull flag.
The bigger daily cycles lean net bearish, if only a few days.
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Early movers
AG +1.5%
ALB +1.8%
AVAV -4.1%, buying ‘BlueHalo’ for $4.1bn. All stock.gsk
BA -0.8%
BABA -2.1%
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COIN u/c
bitcoin is currently +2.1% at $92434
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DB -2.2%, European fins struggling
DJT -5.4%
EXK +2.4%
FCX +0.1%, with copper -1cent at $4.10
GOLD +1.7%
INCY -10.3%, failed drug study
LMT +0.6%
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LOW -1.4%, EPS $2.89 vs 2.82est. Rev’ y/y -1.5% to $20.2bn vs 19.9est. The decline in sales is worse when you factor in (at least) 2-3% of inflation.
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MARA +2.8%
MSTR +2.8%
NEM +1.8%
NIO +3.0%, earnings early Wed’
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NVDA +1.5, earnings due Wed’ AH
PLTR -1.1%
RTX +0.9%
SMCI +24.0%, issued a compliance plan with the Nasdaq – to avoid delisting. New auditor.
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STLA -4.0%
TCOM +4.0%, post earnings gains
TGT +1.2%, earnings due early Wed’
TSLA -0.1%
UAL -0.5%
UEC +1.3%
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VIX +3.0% at 16.62
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WMT +4.4%, EPS 58cents vs 53est. Rev’ y/y +5.5% to $169.6bn vs 167.7est.
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XPEV +4.5%, post earnings gains
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Overnight markets
Asian markets were moderately higher, whilst European markets are broadly lower…
Japan: +0.5% to 38414
China: +0.7% to 3346
Germany: currently -1.1% at 18969
UK: currently -0.4% at 8074
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Have a good Tuesday