Good morning. US equity futures are a little higher, SPX +10pts, we’re set to open at 5926. USD is +0.3% at DXY 10651. The precious metals are leaning weak, Gold -0.2%, with Silver -1.0%. WTIC is +0.5% in the mid $69s.
sp’60min
Summary
Yesterday saw opening weakness on Ukraine/Russia, but the buyers came in… with the SPX settling moderately higher. S/t momentum settled on the moderately positive side.
S/t structure is a valid ABC bear flag, as the cyclical setup favours some cooling. Daily momentum remains negative.
Overnight futures have been pretty subdued, we’re set to open a little higher, +10pts.
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Early movers
AG -1.0%
BABA -2.5%
CHWY +4.2%, BofA, underperform>buy, 24>40
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CMCSA +2.3%, spinning off ‘most’ of its TV networks, inc’ MSNBC, CNBC, USA, Syfy, NBCUniversal, into a separately listed company.
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COIN +0.5%
Bitcoin is currently +1.3% at $93591
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DG -3.5%
DLTR -2.2%
EXK -4.4%
GOLD -0.6%
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HOOD +3.1%
KEYS +8.8%, post earnings jump
MARA +1.8%
MSTR +3.6%
NEM -0.5%
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NIO -2.4%, EPS -30cents. Rev’ $2.66bn vs 2.70est. Deliveries y/y +11.6% to 61855
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NVDA +0.4%, earnings due in AH
NVO +1.5%
ROKU -2.6%
RUM +4.7%, chatter Rumble might hold Bitcoin as part of its holdings.
SMCI -2.8%
SRPT +5.7%
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SVM -14.8%, $130M convert’ corp’ debt offering.
Earnings (Tues’ AH), EPS 7cents vs 8est. Rev’ y/y +25.9% to $68M vs 65est.
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TGT -18.0%, EPS $1.85 vs 2.30est. Rev’ y/y +1.1% to $25.7bn vs 25.9est. Lowered guidance, which the market is especially annoyed at.
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TSLA -0.1%
UAL -0.2%
UNG +3.6%, with Natgas $3.13, as winter has arrived in the UK
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UNH +1.4%
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VIX -1.0% at 16.19
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WIX +10.9%, EPS $1.50 vs 1.43est. Rev’ y/y +12.9% to $444M inline. Positive guidance.
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WMT -0.7%
X +1.0%
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Overnight markets
Asian and European markets are mixed…
Japan: -0.2% to 38352
China: +0.7% to 3367
Germany: currently +0.2% at 19104
UK: currently -0.1% at 8089
Here in the failed state of the UK…
I’d especially note housing costs of around 7.5%, which is reflective of my own situation. The ultimate concern is a secondary inflationary wave that surpasses the prior peak.
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Have a good Wednesday