Good morning. US equity futures are fractionally higher, SPX +7pts, we’re set to open at 7764. USD is +0.2% at DXY 99.62. The precious metals are mixed, Gold +0.1%, with Silver -0.7%. WTIC is +1.2% at $79.14.
sp’60min
WTIC
Oil is higher for a third day, but there is a lot of resistance around $80, and then the $84s
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Summary
Equities ended last week on a moderately positive note. 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, as the 7800s are clearly viable in the near term.
There is considerable background chatter about the middle east.
1. Trump ‘desperate’ for an off ramp
2. Israel inclined for a sole attack… if the USA backs off.
Clearly, if the Strait opens up… that would be a major positive for the global economy, not least in terms of oil and fertiliser supply.
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Early movers
AAPL -1.1%
AMAT +2.4%, earnings Thurs’ AH
ASTS +0.5%, earnings due in AH
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ASX +4.4%, EPS 29cents ve 17est. Rev’ y/y +24.9% to $6.03bn vs 5.99est
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B -4.4%, EPS 82cents vs 78est. Rev’ y/y +43.8% to $5.29bn vs 4.53est. AISC (production cost) $1866 oz, whilst having an average gold oz sale price of $4417
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CELH -2.4%
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COIN +0.9%
Bitcoin is +0.3% at $65K. Broadly… it remains a terrible 12month performance.
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EMBJ +5.1%, EPS 15cents. Rev’ y/y +31.2% to $1.44bn vs 1.38est
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GOOGL +0.9%
INTC -3.7%, to sell stock on behalf of selling shareholders
META +2.4%
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MDNY -10.9%, EPS $1.48 vs 1.11est. Rev’ y/y +21.7% to $364M vs 355est.
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MP +3.7%
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MRNA +3.1%, whilst there is monstrous fury that the US armed forces appear to be once again… subject to mandatory mRNA flu shots
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MU -0.9%
NEM +3.0%, Newmont and Barrick settle a Nevada gold mine dispute
NIU -9.8%
NOK +1.4%
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ONDS +4.1%
OSCR -1.2%, recent earnings were very good.
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OXY +0.8%
PFE -0.9%
PLTR -1.5%
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POWW +8.9%. EPS **
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RKLB +2.9%, earnings due in AH
SIMO -4.7%, $800M corp’ debt offering
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SMCI +2.8%, earnings Tues’ AH
SPCX +3.5%
TSLA +0.7%
UNG +3.5%, with Natgas $2.76
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VIX +3.6% at 15.44
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XOM +0.6%
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Overnight markets
Asian markets were broadly higher, whilst European markets are a little mixed…
Japan: +2.1% to 66970
China: +0.7% to 3966
South Korea: +0.6% to 6299
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Germany: currently +0.3% at 26394
France: currently u/c at 8715
UK: currently -0.3% at 10867
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Have a good Monday