Good morning. US equity futures are leaning weak, SPX -17pts, we’re set to open at 7694. USD is -0.15% at DXY 99.50. The precious metals are mixed, Gold u/c, with Silver +1.5%. WTIC is +3.7% at $86.48.
sp’60min
WTIC, daily
Oil climbing on a little drama in the middle east.
Reading around this morning… most are still ignoring (probably on purpose) the grandest concern… less oil > less fertiliser > less food.
Food inflation in 2027… is going to be a problem.
Just go stare at a monthly chart for Wheat, Corn, or Sugar.
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Summary
Last week ended with a downside reversal, settling marginally weak. S/t momentum settled marginally negative.
Overnight futures have been leaning weak, but nothing of significance. We’re set to open marginally lower.
Yours truly should pick up SPCX again. I’m still very cautious though, and inclined for hit & run trades, holding a few hours, a day or two at most.
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Early movers
AAPL -0.3%
AMZN -0.4%
CVX +2.1%
E +2.6%
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EIX -10.2%, California Wildfire Legislation. Mizuho, outperform>neutral, 86>70
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EQNR +2.7%
GME +3.9%, prelim’ earnings.
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HOOD +0.6%
Bitcoin is +1.0% at $78K
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HWM -3.7%
INTC +0.4%
LMT +0.4%
MRNA -2.7%
MSFT -0.8%
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MSTR +2.3%
NEM +0.3%
NVDA +0.6%
OXY +1.7%
PAAS +0.4%
PCG -15.4%, California Wildfire Legislation.
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PINS -3.0%, the CFO to depart for a ‘new opportunity’.
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PLTR -1.3%
RKLB -0.9%
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SAIC +4.8%, EPS $3.01 vs 2.31est. Rev’ y/y +6.3% to $1.88bn vs 1.77est. Positive outlook
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SNAP +3.1%
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SPCX -0.8%
TSLA -0.5%
TTD +3.5%, updates its advertising platform
UAL -1.1%
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VIX +5.2% at 15.18
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WEAT -1.4%
XOM +1.9%
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Overnight markets
August is ending… on a mixed note.
Japan: -0.1% to 66311
China: +0.9% to 3986
South Korea: +0.5% to 6820
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Germany: currently -0.8% at 26370
France: currently +0.03% at 8404
UK: CLOSED
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Yours truly had a productive weekend.
Accounts/taxes finalised.
… and a home-office filled with Peacock Butterflies.
I’ve had another two this morning…
… they will all fly away when they are ready, which is usually after a few hours.
Have a good Monday