Good morning. US equity futures are leaning weak, SPX -20pts, we’re set to open at 6375. USD is +0.1% at DXY 98.14. The precious metals are moderately lower, Gold -0.6%, with Silver -0.7%. WTIC is +0.6% in the low $63s.
sp’60min
Summary
Yesterday saw significant morning downside, but a latter day recovery to settle a little weak. S/t momentum settled marginally negative.
Overnight futures have been subdued, if leaning a little weak. The s/t cyclical setup favours the bulls, but the bigger daily charts offer a tag of orange gap before the weekend.
For now… the more cautious bears will sit back and wait until the flip side of Labor day… not least as a new hist’ high is still viable, before a decisive rollover.
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Early movers
AAPL -0.3%
AEM -0.4%
AMD +1.1%
BA +1.4%, chatter Boeing might sell 500 jets to China
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BLSH -2.0%
BMNR -1.6%
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CBRL -2.6%, background chatter is pretty ugly…
Many are upset, demanding the return of the ‘cracker and his barrel’ !
Certainly, the new logo is… corporate-sterile.
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CLSK -2.8%
CMBT +4.5%
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COIN -0.5%
BTC is -0.7% at $113K
XRP is -4cents at $2.91
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COTY -20.2%, EPS -5cents vs 2est. Rev’ y/y -8.1% to $1.25bn vs 1.20est. COTY is moving production (such as fragrances) from offshore to the mainland USA, due to tariffs.
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CSIQ -8.7%, EPS -53cents vs $1.61est. Rev’ y/y +2.0% to $1.69bn vs 1.95est.
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CRWV +3.1%, ‘Jane Steet’ picked up a 5.4% stake, Wainwright, buy, $180
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GILD -2.5%, CVS doesn’t want to add Gilead’s HIV prevention shot Yeztugo (twice yearly, costing $28K a year) from its ‘coverage list’
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HPE +2.8%, Morgan Stanley, equal-weight>overweight, 22>28
INTC +0.4%
JOBY +2.2%
NIO +3.2%, new SUV launched
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NNE +2.8%
NVDA +0.5%
PLTR +1.0%
SMR +3.1%, BofA, neutral, $36
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SRPT -2.9%, refinancing $700M of convert’ corp’ debt
TME -1.0%
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VIX +2.0% at 16.01
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WMT -2.3%, EPS 68cents vs 74est. Rev’ y/y +4.8% to $177.4bn vs 176.2est.
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XPEV +0.9%, Citi, buy, 29.00>29.40
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Overnight markets
Asian markets were a little mixed, whilst European markets are leaning weak…
Japan: -0.6% to 42610
China: +0.1% to 3771
Germany: currently -0.2% at 24233
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UK: currently -0.3% at 9264
62% marginal tax rate… urgh
… and there is this…
Its another example of the fury within the UK. People are moving their money outside of the UK… before capital controls are introduced. Further, the UK govt’ could eventually deem offshore accounts as illegal.
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Have a good Thursday