Good morning. US equity futures are leaning upward (ahead of BLS jobs), SPX +21pts, we’re set to open at 7730. USD is -0.02% at DXY 99.78. The precious metals are sig’ higher, Gold +1.7%, with Silver +3.5%. WTIC is -0.3% at $77.03.
sp’60min
WTIC, daily
The default is to expect 72/71s
The $67s look pretty secure.
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Summary
Yesterday saw choppy cooling, settling marginally negative. S/t momentum settled on the very low side.
Overnight futures have been leaning a little higher… but that could easily change with the BLS jobs data at 8.30am. If the data comes in better than expected, we should expect a case of ‘good news is bad news’.
Yellow gap… with the old hist’ high of 7620 look realistic.
From there… resuming upward.
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Early movers
ABNB +6.6%, post earnings gains
AEM +3.8%
AG +5.4%
AKAM +10.2%, post earnings jump
AMD +1.2%
ASTS +2.8%
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CART +13.1%, EPS 45cents vs 54est. Rev ‘y/y +14.1% to $1.04bn vs 1.02est.
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CDE +4.9%
COIN +1.7%
Bitcoin is +1.3% at $65K. Broadly though… its still m/t horror.
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CRSR +15.5%, EPS 23cents vs 7est. Rev’ y/y -1.8% to $314M vs 310est. The decline in annual sales should be a concern, for what is another reminder of the consumer cutting back.
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DDOG +1.6%, dead cat bouncing
DEO +4.3%
DKNG -2.7%, post earnings depression
HL +5.0%
INTC +1.3%
JBLU -2.3%, Citi, neutral>sell, 6.60>5.30
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MP +5.7%, EPS -1cent vs 0est. Rev’ y/y +89.0% to $108M vs 99est.
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MU +1.6%
NEM +4.0%
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NET +15.3%, EPS 29cents vs 27est. Rev’ y/y +35.9% to $696M vs 665est.
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NOK +0.8%
NVDA +0.4%
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OKLO +3.1%, EPS -28cents vs -16est. Rev’ $1.21M vs 126K est. Micro numbers… for what is still a startup
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PAAS +4.5%
PLTR +1.5%
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RCAT -4.5%, post earnings depression
RKLB +3.9%
SMR +1.5%
SNDK +2.3%
SPCX +1.3%
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TEAM +28.4%, EPS $1.87 vs 1.50est. Rev’ y/y +27.6% to $1.76bn vs1.66est
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TTD -26.4%, EPS 34cents vs 40est. Rev’ y/y +3.0% to $715M vs 751est.
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TTWO -0.4%, EPS 35cents vs 33est. Rev’ y/y -2.6% to $1.38bn vs 1.41est. After waiting for THIRTEEN years, GTA VI (due November) had better not be woke.
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TWLO +17.0%, EPS $1.47est. Rev’ y/y +22.1% to $1.50bn vs 1.43est.
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U +4.1%
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UAA -1.6%, EPS 5cents vs 2est. Rev’ y/y -3.2% to $1.09bn vs 1.10est. The annual decline in sales… yet another reminder of the broken consumer.
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UAL +0.3%
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VIX +0.5% at 15.22
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WDC +1.8%
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WEN -3.2%, EPS 18cents vs 17est. Rev’ y/y -6.5% to $570M vs 557est. Guidance withdrawn. Dividend cut… 14>7cents
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WMT -0.5%
XOM -0.4%
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Overnight markets
Asian markets were mixed, whilst European markets are broadly higher…
Japan: -0.1% to 65606
China: +1.0% to 3940
South Korea: -0.6% to 6258
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Germany: currently +0.8% at 26363
France: currently +0.5% at 8745
UK: currently +0.8% at 10951
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Have a good Friday