Good morning, and welcome to December! US equity futures are significantly higher, SPX +37pts, we’re set to open at a new historic high of 3657. USD is -0.1% in the DXY 91.79s. The precious metals are significantly higher, Gold +$26 (printing $1813), with Silver +3.2% (printing $23.62). WTIC is +0.2% in the $45s.
sp’60min
Summary
Yesterday saw November settle on a weak note. S/t momentum floored in early afternoon, and ticked upward into the close.
We’re set to open on a significantly positive note. S/t momentum is due to turn positive at the open. Soft upside resistance is the recent hist’ high of 3645.99, and we’re due to break that at the open.
By definition, new historic highs will make it a day, week, and month for the equity bulls.
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Early movers
AAPL +1.9%
AMD -0.1%, just a little cooling. Yesterday saw an upward break.
BA +1.7%
BAC +1.6%
CCL +5.2%
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CRM -0.2%, earnings due in AH, Salesforce expected to make a formal bid for Slack Tech’ (WORK).
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CRSR +2.7%
DIS +1.0%
FCX +2.3%, with copper +4cents to $3.48
FSLR -3.7%, Barclays downgrade First Solar, p/t $60
GDX +2.8%
GOLD +2.9%
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JPM +1.5%
MRNA +11.3%, EU to decide on vaccine approval by Jan’12
MRVL +1.4%, earnings due Thurs’ AH
MOMO -1.7%, post earnings cooling
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MU +1.5%, Cowen 57>75. Yesterdays 65s offer giant psy’100.
NEM +2.2%
NIO +2.3%, 5291 deliveries in Nov’, y/y +109%
NKLA -4.2%, RBC 19>17
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PAAS +3.4%
PFE +2.3%, EU decide on vaccine approval by Dec’29th
PLTR +3.0%
PTON -1.9%
PYPL +1.6%
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SLB +2.1%
SPCE +7.1%
TECK +2.3%, higher copper
TSLA +5.2%, S&P to include on ‘full float basis’
TLT -0.3%, lower bonds… with higher yields
UAL +2.8%
VALE +1.5%
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VIX -2% in the 20s
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WFC +1.9%
WORK +0.7%, Salesforce bid due in AH
WYNN +1.9%
X +1.5%
XOM +2.1%
ZM -6.5%, post (good) earnings depression
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Overnight markets
Both Asian and European markets have begun December on a significantly positive note…
Japan: +1.3% at 26787
China: +1.8% at 3451
Germany: currently +1.0% at 13418
UK: currently +2.0% at 6389
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Have a good Tuesday