Good morning. US equity futures are very significantly lower, SPX -100pts, we’re set to open at 5356. USD is -1.0% at DXY 101.56. The precious metals are mixed, Gold +0.6%, with Silver -0.2%. WTIC is -2.7% in the mid $60s.
sp’60min
Summary
After yesterday’s monstrous ramp… even if we swing around 100/200pts today, it’ll be a relatively subdued day!
As things are… we’re set to open -100pts or so. Bulls can argue its just a retrace.
The CPI data is due 8.30am, and will be one excuse to recover before the open. Consensus…
Headline y/y: 2.6% vs 2.8% prior
Core y/y: 3.0% vs 3.1% prior
Considering Monday’s low of 4835, the bulls should be content with any net weekly gain (>5074), as seems probable.
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Early movers
AAL -3%
AAPL -3%
ALB -3%
AMD -3%
AMZN -2%
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BABA +1.3%
BAC -1.5%
CLF -3%
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COIN -2.5%
Bitcoin is -1.1% at $81666
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DIS -2%
DJT +3%
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F -3.5%
FCX -2%, with copper +15cents to $4.34
GOLD +0.3%
INTC -4%
JPM -1.5%, earnings due early Friday
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KMX -6.3%, EPS 58cents vs 68est. Rev’ y/y +6.7% to $6.00bn vs 5.96est.
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MRNA -2%
MSTR -4%
MU -3%
NMAX -2%
NVDA -3%
OXY -3%
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RCAT -6%, $30M direct stock offering
RIG -4%
SMCI -4%
SMR -3%
SONY +3%
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STLA -8%
TSLA -4%
UAL -2%
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VIX +10.6% at 37.20
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X -10%… as Trump argues US Steel should remain American owned
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XOM -1%
XPEV +4%
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Overnight markets
Asian and European markets generally following the USA upward…
Japan: +9.1% to 34609
China: +1.2% to 3223
Germany: currently +5.8% at 20805
UK: currently +4.7% at 8039
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Have a good Thursday