Good morning. US equity futures are fractionally lower, SPX -6pts, we’re set to open at 6080. USD is +0.2% at DXY 108.20. The precious metals are broadly lower, Gold -0.4% (printing $2750), with Silver -1.5% (printing $30.72). WTIC is +0.3% in the mid $75s.
sp’60min
Summary
Yesterday saw the SPX break a new historic high… if cooling a little into the close. S/t momentum settled fractionally positive.
Overnight futures have been leaning on the weaker side, we’re set to open fractionally lower by -5/10pts. The s/t cyclical setup favours the bears, with three downside gaps.
Yours truly is trying to be patient for Intel earnings… Jan’30th AH. I would like to pick back up SMR from the 22/21s.
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Early movers
AAL -8.4%, EPS 86cents vs 64est. Rev’ $13.7bn vs 13.39est. Weak guidance. CAPEX limited due to Boeing delivery delays.
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AAPL +0.2%, Goldman, buy, 286>280
AG -2.0%
AMAT -2.2%
ARM -4.4%
ASTS -15.6%, $400M convert’ corp’ bonds offer.
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AXP +0.8%, earnings due early Friday
CLF u/c
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COIN -2.7%
Bitcoin is -2.0% at $101620
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CVS +1.3%, helped by ELV
DJT -2.4%
EA -17.1%, pre-earnings, cuts guidance
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ELV +5.2%, EPS $3.84 vs 3.81est. Rev’ y/y +6.0% to $44.99bn vs 44.86est.
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FCX +0.5%, with copper -3cents to $4.27
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GE +7.9%, EPS $1.32 vs 1.04est. Rev’ y/y +15.6% to $9.87bn vs 9.60est. $7bn buyback. Divi >30% in 2025
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GME +1.4%
GOLD -0.5%
INTC -0.7%
KNX +3.6%, post earnings gains
LOGI +2.3%
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MARA -2.7%
META +0.5%, BofA, buy, 660>710
MU -3.0%
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NNE -2.6%, cooling nuclear stocks
NVDA -1.7%
OKLO -5.5%
OXY +0.3%
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PLTR -1.5%
RKLB -2.8%
SMCI -2.1%
SMR -3.7% in the mid $24s
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TSLA -0.4%
UAL -1.8%
UNH +1.5%, helped by Elevance Health
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UNP +3.9%, $2.91 vs 2.78est. Rev’ y/y -0.6% to $6.12bn vs 6.14est. Buyback $4.0-4.5bn
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VIX +1.0% at 15.21
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XOM +0.4%
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Overnight markets
Asian and European markets all leaning upward…
Japan: +0.8% to 39958
China: +0.5% to 3230
Germany: currently +0.3% at 21316
UK: currently +0.03% at 8547
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Have a good Thursday