Good morning. US equity futures are fractionally higher, SPX +11pts, we’re set to open at 7664. USD is u/c at DXY 99.71. The precious metals are leaning weak, Gold -0.1%, with Silver -0.8%. WTIC is -0.1% at $82.33.
sp’60min
WTIC, daily
Oil printed $84.61… a clear stall from key price threshold of the $84s
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Summary
Yesterday was very subdued, with the market settling a touch weak. S/t momentum settled on the moderately low side.
Overnight futures have been subdued, we’re set to open fractionally higher. The s/t cyclical setup favours the bulls, but I’d expect today to be similar to yesterday… with the market churning ahead of CPI-Wednesday.
Best guess… inflation comes in a little hotter than expected, with the market seeing a brief washout to back test the old hist’ high of 7620. From there… resuming upward into early/mid Sept’.
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Early movers
ACHR +1.0%
AMD +0.8%
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ASTS +1.4%, EPS -35cents vs -28est. Rev’ y/y +2630% to $31M vs 35est.
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ASX +2.8%
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CAH u/c, EPS $2.91 vs 2.42est. Rev’ y/y +5.8% to $64.4bn vs 65.0est
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CLSK +3.4%
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COIN +0.7%
Bitcoin is +0.6% at $64K
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FSLR +3.0%, Baird, neutral>outperform, 205>318
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GPRO -6.1%, post earnings depression
HIMS -5.7%, post earnings depression
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INTC -1.3%, increasing their secondary offering from $15bn to $20bn. With the market strong, who can blame them for raising money at this time.
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LAR -7.0%, EPS 1cents vs 14est. Rev’ **
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MARA +3.6%
NBIS +1.6%, earnings due early Wed’
NEM -0.7%
NOK +0.9%
NVDA +1.0%
PAAS -0.8%
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RKLB -4.9%, EPS -8cents vs -7est. Rev’ y/y +62.0% to $234M vs 231est
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SE +10.0%, EPS 70cents vs 75est. Rev’ y/y +48.1% to $7.78bn vs 7.06est
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SMCI +2.0%, earnings due in AH
SMR +1.6%
SPCX -1.0%
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TME -5.6%, EPS 25cents vs 23est. Rev’ y/y +11.8% to $1.31bn vs 1.35est.
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TSLA +0.5%
UAA -2.4%, Barclays, equal-weight>underweight, $5
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VG -4.4%, EPS 51cents vs 46est. Rev’ y/y +48.0% to $4.57bn vs 4.66est
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VIX +0.2% at 15.49
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Overnight markets
Asian markets were mixed, whilst European markets are broadly flat…
Japan: CLOSED
China: -0.8% to 3934
South Korea: +0.7% at 6345
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Germany: currently +0.1% at 26348
France: currently -0.1% at 8720
UK: currently +0.03% at 10866
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Have a good Tuesday