Good morning. US equity futures are significantly lower, SPX -42pts, we’re set to open at 3423. USD is +0.2% in the DXY 92.97s. The precious metals are mixed, Gold +$2 (printing $1907s), with Silver -1.3% (printing $24.15). WTIC is -1.9% in the $39s (printing $38.42).
sp’60min
Summary
Last week ended on a positive note, with the SPX notably breaking above s/t descending trend. Momentum is on the moderately higher side.
We’re set to open on a distinctly weak note. Last Friday’s closing hour mini breakout can be seen as a false/failed breakout.
Support… key price threshold of the 3415s. Any price action <3400 would be decisive, and bode very problematic ahead of the election.
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Early movers
AAPL -0.9%, earnings Thurs’ AH
AMD +0.6%, earnings Tues’ AH, Susquehanna 85>95
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BA -1.5%, China sanctions over Taiwan arms sales.
BAC -1.4%
CAT -0.9%
CCL -3.0%, sinking shippers
DAL -2.5%, diving airlines
DIS -1.3%
FCX -1.4%, with copper -1cent to $3.11
GDX -0.3%
GOLD -0.4%
GOOGL -1.0%, earnings due in AH
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HAS -2.3%, EPS $1.88 vs 1.61est. Rev’ y/y +12.8% to $1.8bn vs 1.7est. Those on lockdown buying more games to play at home.
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INTC -0.8%
JPM -1.4%
LYFT -2.0%
MSFT -0.7%, earnings Tues’ AH
NCLH -3.0%
NEM -0.3%
PINS +2.1%, earnings due Wed’ AH
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PLTR +1.8%, RBC $11, Jefferies $13, GS $10
RCL -2.7%
SNAP +1.5%… the hysteria continues
TSLA -1.2%
TLT +0.7%, yields cooling
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TWTR -0.7%, Dorsey due before the Senate Wed’, Earnings early Thurs’. Wedbush upgrade 37.50>47.00
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UAL -2.4%
UBER -2.0%
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VIX +7% in the 29s (printing 30.11)
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WFC -1.3%
WYNN -1.7%
X -1.2%, earnings Fri’
ZM +1.3%
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Overnight markets
Other world markets have begun the week on a weak note, although other than Germany, its nothing of any significance.
Japan: -0.1% at 23494
China: CLOSED
South Korea: -0.7% at 2343
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Germany: currently -2.1% at 12379
Italy: currently -0.5% at 19191
UK: currently -0.1% at 5856
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*special note…
I am set to lose power for a short while (legacy electric and Nat’ gas meters are being changed to smart meters), so I might be late/miss a post
this morning.
Ohh, and I’m having internet ‘issues’ so far today.
For the moment… I still have running (if cold) water, but hey… maybe that’ll also fail.
Regardless… have a good Monday