US equities are choppy, if mostly net higher… helped by a cooling wave in bond yields.
sp’60min
VIX’60min
Summary
Even if we settle net higher, the week looks set to end on a weak note, as based on the bigger daily momentum cycles. We could also expect a case of the more cautious selling into the long weekend.
NEWS: The US Treasury will end putting new one cent coins into circulation in 2026. If anything, its a sign of inflation! How long until ALL items are simply rounded off to the nearest dollar?
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notable stock: TTWO
My m/t target remains $135. Take-Two raised $1bn yesterday, arguably to help complete GTA VI… due May 2026.
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notable retail: URBN
Earnings (Wed’ AH) were rather good…
EPS $1.16 vs 0.82est. Rev’ y/y +10.7% to $1.33bn vs 1.28est.
Still… the consumer IS broken. Only a few selective names are managing to achieve net yearly increases in sales.
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notable miner: FCX
Freeport restrained… with copper currently around $4.65
The m/t concern should be recession
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notable steel: CLF
Back in the sixes ! Absolute… m/t horror, and that is with SPX 5800s.