Good morning, and welcome back. US equity futures are sig’ lower, SPX -91pts, we’re set to open at 6849. USD is -1.0% at DXY 98.18. The precious metals are strongly higher, Gold +3.1%, with Silver +6.5%. WTIC is +0.9% in the upper $59s.
sp’60min
Summary
Last week ended with considerable chop… natural for an OPEX, especially ahead of the long weekend. S/t momentum settled neutral.
Overnight futures have been somewhat ugly, with the market concerned about tariffs, as Trump is intent (one way or another) to take control of Greenland.
We’re set to open sig’ lower by around -90pts (1.3%), one of the largest opening gap downs in some months.
No doubt… .some will start calling a m/t top from 6986. Lets see how long it takes the market to level out, and what style of bounce we get.
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Early movers
AAPL -1.3%
AEM +3.5%
AG +5.5%
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AMD -2%
AMZN -2.4%
B +3.6%
CCL -2.7%
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COIN -3.8%
Bitcoin is -1.6% at $91K
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DECK -0.8%
DRD +4.1%
FCX -0.2%, with copper +4cent to $5.87
GFI +6.4%
HMY +5.4%
JOBY -3.6%
JPM -1.5%
KEP +15.7%, news?
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MMM -4.0%, EPS $1.83 vs 1.80est. Rev’ y/y +3.3% to $6.0bn inline.
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MSTR -4.7%
NEM +3.0%
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NFLX +1.0%, Netflix changes bid for Warner to all cash purchase. Earnings due in AH
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NKE -1.7%
NOW +4.7%, working with OpenAI
NVDA -1.9%
ONDS -1.0%
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PAAS +4.7%
PLTR -2.3%
QBTS -3.8%
SMR -3.8%
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TGT -1.1%
TSLA -2.1%
UAL -1.7%
UNG +15.5%, with Natgas $3.82
UNH-0.6%
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VIX +4.8% at 19.73
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XOM +0.3%
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Overnight markets
Most markets are significantly lower…
Japan: -1.1% to 52991
China: -0.01% to 4113
Germany: currently -1.6% at 24564
UK: currently -1.0% at 10089
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Have a good Tuesday