Good morning. US equity futures are fractionally higher, SPX +1pt, we’re set to open at 3670. USD is -0.4% in the DXY 90.77s. The precious metals are moderately higher, Gold +$13 (printing $1847) with Silver +0.7% (printing $24.42). WTIC is -0.6% in the $44s.
sp’60min
Summary
Yesterday saw considerable chop, settling fractionally positive. S/t momentum settled on the fractionally lower side.
Overnight futures have been a little mixed, we’re currently set to open fractionally higher.
A note on the USD, monthly, Dec’2…
The dollar continues to weaken, this early morning printing 90.69s. The crazy 88s can’t be over-stated. ANY price action in the 77s would merit alarm bells, although that would be in terms of higher prices for almost every single asset class.
On the first hit of the 88s, I’d expect a bounce of 2-3%, back to 90/91 or so. More broadly though, I don’t expect the 88s to hold. Huge mid/long term implications.
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Early movers
AAPL +0.5%
AMD -0.3%… but breaking a new hist’ high yesterday
BA +1.9%, set to test the June $234s
CCL +1.5%
CRSR +0.8%, dead cat bouncing
CRM +1.1%, Citi downgrade 300>250
CRWD +12.5%, post earnings jump
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DG -2.0%, EPS $2.31 vs 1.99est. Rev’ y/y +17.3% to $8.2bn vs 8.1est. COMPS +12.2%. Broadly… very good.
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DIS -0.3%
FCX +0.6%, with copper u/c at $2.49
GDX +1.0%
GOLD +1.4%
MU +1.7%, short/mid term super strong.
NEM +0.7%
NIO -2.9%
OKTA +7.0%, post earnings jump
PAAS +1.5%, higher silver
PFE +0.5%, new hist’ high yesterday
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PLTR +2.8%, dead cat bouncing
PYPL +1.0%, pushing for new hist’ highs.
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SIG +6.7%, post earnings jump
SLB +0.7%
SNOW -2.6%, post earnings depression
SPOT -1.4%
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SQ +2.7%
TSLA +4.0%, Goldman upgrade neutral>buy, 455>780
TLT +0.3%, yields cooling
UAL +1.7%
UPS +0.4%
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VIX -1.0% in the 20s
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WFC -0.3%
X +1.1%
XOM +0.3%
ZM -0.4%
ZS +11.3%, post earnings jump
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Overnight markets
Most markets remain very subdued…
Japan: +0.03% at 26809
China: -0.2% at 3442
Germany: currently -0.5% at 13250
UK: currently -0.1% at 6458
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Have a good Thursday