US equities open on a moderately positive note… ahead of the PCE data (10am). VIX has been ground into the 15s.
sp’60min
VIX’60min
Summary
GDP Q3 (print’3): 4.4% vs 4.3% (print’2)
… skewed by 7% of gross govt’ deficit spending.
We should have had our first print of Q4 GDP today, but no… we’ve still delays after the shutdown.
As for equities, so long as the PCE data is fine, teal gap will fully fill.
Then.. merely a case of whether >6944 for the weekly close.
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notable stock: INTC
Earnings due in AH should show improvement, with a positive outlook.
Next resistance are the $58s
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notable space: KRMN
New hist’ high. Updated guidance… for what is a mid-tier space company, more established than RKLB and ASTS.
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notable nuclear: SMR
S/t bullish to $30, by mid March
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notable miner: FCX
Earnings were mixed…
EPS 47cents vs 29est. Rev’ y/y -1.5% to $5.63bn vs 5.35est.
The annual decline in sales isn’t great, but its due to the shutdown of the Grasberg mine in Indonesia. As noted last evening, I am m/t bullish 90/100, which assumes copper is sustainably >$7.00 a pound… by late summer.