Good morning. US equity futures are leaning upward, SPX +15pts, we’re set to open at 5851. USD is -0.3% at DXY 109.47. The precious metals are leaning upward, Gold +0.2%, with Silver +0.4%. WTIC is u/c in the mid $78s.
sp’60min
Summary
Yesterday saw opening broad downside, but there was a significant upside reversal to settle marginally positive. S/t momentum turned positive into the close.
Overnight futures have been leaning on the positive side, we’re set to open +15pts or so. The s/t cyclical setup favours the bulls. The bigger daily charts favour the bulls into February.
Yours truly is loaded with INTC, CLF, OXY, and SMR. I don’t expect to sell anything today. I should hold everything until at least sp’5900. I guess I’ll hold all of INTC into next week.
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Early movers
AEHR -17%, post earnings upset
AG +0.5%
AMD +0.6%
APLD +12.6%, $5bn investment from Macquarie
BABA +1.6%
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CHGG -4.9%, Morgan Stanley, $2.00>1.25
CLF +0.5%
CLSK +3.5%
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COIN +2.0%
Bitcoin is currently +1.9% at $96294, having put in a spike floor yesterday from $89K. Daily momentum prone to turning positive tomorrow.
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DJT -7.3%
FCX +0.8%, with copper +1cent at $4.33
FTNT -1.1%, Raymond James, outperform>market-perform
GOLD +0.6%, suspends operations in Mali
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HEES +107%, being bought by United Rentals for $3.37bn
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JD +4.0%
KBH +9.9%, post earnings jump
MARA +3.4%
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META -0.8%, concerns that Elon will buy Tiktok
MRNA -0.8%
MSTR +3.0%
MTCH -0.7%
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MU +1.2%
NNE +4.7%
NVDA +1.2%
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OKLO +2.0%
RKLB +2.6%
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SIG -10.0%, EPS 24cents vs 33est. Rev’ y/y -3.1% to $1.35bn vs 1.37est. Weak guidance.
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SMR +1.5%
SNAP -3.3%, concerns that Elon will buy Tiktok
TDOC +3.7%, partnership with Amazon
TSLA +1.8%
UNG -3.1%, with Natgas $3.78
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VIX -2.5% at 19.06
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Overnight markets
Asian markets were very mixed, whilst European markets are leaning on the positive side…
Japan: -1.8% to 38474
China: +2.5% to 3240
Germany: currently +0.8% at 20285
UK: currently +0.1% at 8229
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Have a good Tuesday