Good morning. US equity futures are leaning weak (ahead of CPI), SPX -16pts, we’re set to open at 6816. USD is +0.1% at DXY 96.97. The precious metals are bouncing, Gold +1.2%, with Silver +3.7%. WTIC is -0.8% in the mid $62s.
sp’60min
Summary
Yesterday opened a little higher, but there was a rather powerful downside reversal, with the SPX coming close to tagging last Friday’s gap. S/t momentum settled on the low side.
Overnight futures have been leaning on the weaker side, especially pressured by Asian markets. We’re set to open -10/15pts, but that could easily change with the CPI data.
Yours truly is looking to make a day-trade in Silver, but I’m not in the mood to chase higher. If the gains erode in early morning, I might be interested. My default is to be flat… especially into a long weekend.
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Early movers
AA -4.2%
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AAP +6.5%, EPS 86cents vs 42est. Rev’ y/y -1.1% to $1.97bn vs 1.95est. Profitable, but the annual decline in sales is worse relative to inflation.
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ABNB +5.0%, earnings (Thurs’ AH), EPS 56cents vs 65est. Rev’ y/y +12.0% to $2.77bn vs 2.71est. Goldman, neutral, 140>150
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AG +1.4%
AEM +2.3%
AMAT +10.5%, post earnings jump
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BCS -4.1%, weak UK fins
BROS +13.6%, post earnings jump
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CART +12.1%, earnings (Thurs’ AH), EPS 39cents vs 52est. Rev’ y/y +12.3% to $992M vs 974est.
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CENX -9.5%
CLF -3.3%
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COIN +5.3%
Bitcoin is +1.2% at $67K. The cyclical setup favours the bulls.
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CRSR +30.6%, earnings (Thurs’ AH), EPS 43cents vs 27est. Rev’ y/y +5.6% to $436M vs 422est. $50M buyback. Corsair helped by soaring memory prices.
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DB -3.8%, weak EU fins
DKNG -17.0%, post earnings horror
EXPE -4.6%, post earnings depression
FCX -1.0%, with copper -8cents at $5.70
HL +2.0%
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MRK +1.9%, Deutsche Bank, hold>buy, 115>150
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MRNA -0.3%, EPS -$2.11 vs -2.59est. Rev’ y/y -29.8% to $678M vs 626est. As expected… garbage.
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MU -1.4%
NWG -3.7%, weak UK fins
PAAS +1.2%
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PINS -20.6%, post earnings horror
PLTR -1.4%
RIVN +20.1%, post earnings leap
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ROKU +15.3%, EPS 53cents vs 27est. Rev’ y/y +16.1% to $1.39bn vs 1.35est.
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SMR +0.9%
TOST -1.3%, post earnings cooling
TSLA -0.8%
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VIX +1.5% at 21.11
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WEN -6.2%, EPS 16cents vs 14est. Rev’ y/y +5.4% to $543M vs 535est.
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XOM -0.5%
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Overnight markets
Asian markets were sig’ lower, whilst European markets are broadly flat…
Japan: -1.2% to 56941
China: -1.3% to 4082
Germany: currently u/c at 24854
UK: currently +0.1% at 10408
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Special note…
It will be an Open Day, with my posts available to all. Its the best (and free) form of advertising I can get.
Have a good Friday the 13th