Good morning. US equity futures are moderately higher, SPX +20pts, we’re set to open at 5502. USD is -0.1% at DXY 105.51. The precious metals are broadly higher, Gold +$10 (printing $2347), with Silver +1.4% (printing $29.71). WTIC is +0.7% in the mid $82s.
sp’60min
Summary
Yesterday saw yet more minor chop, settling fractionally higher. S/t momentum settled on the marginally positive side.
Overnight futures have been leaning upward, helped by most other world markets. We’re set to open +20pts or so. I’d expect a case of ‘window dressing’, which will favour the bulls.
re: Trump/Biden
Its clear that Biden will quit the race. On further consideration, I’d look for Ms. Clinton to face off against her nemesis. More on this in AH.
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Early movers
AAPL +0.8%, iPhone China shipments May y/y +39.6%
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ACCD -27.4%, post earnings horror
AG +1.8%
AMZN +0.4%, Wells Fargo, 234>239
CCJ +1.2%
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COIN +1.2%
Bitcoin is effectively u/c at $61631
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CRM +1.6%
CROX -2.5%, in sympathy with Nike
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DJT +13%… post Trump/Biden jump.
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EXK +2.2%
FCX +1.2%, with copper +6cents to $4.41
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FL -4.4%, in sympathy with Nike.
GOLD +0.7%
INFN +19.2%… being bought out by Nokia (NOK)
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LULU -1.6%, in sympathy with Nike
MU +0.8%, DBS bank, 138>167.10
NEM +0.7%
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NKE -14.5%, post earnings horror
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NOK u/c, buying Infinera (INFN) for $2.3bn
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NVDA +0.7%
OXY +0.8%
PAAS +0.9%
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SE -1.5%, DBS bank, buy>hold, $75
SLB +0.6%
SMCI +1.9%
SOFI +0.9%
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TLT -0.3%, lower bonds, as yields climb
TSLA +0.7%
TSM +1.2%
UAA -2.2%, in sympathy with Nike
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UAL +0.6%, Wolfe, outperform, 76>67
UNG +1.9%, with Natgas $2.73
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VIX +0.6% at 12.32
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WBA -1.0%… still battling to find a s/t floor.
XOM +0.6%
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Overnight markets
Asian and most European markets ending June/Q2/H1 on a moderately positive note…
Japan: +0.6% to 39583
China: +0.7% to 2967
Germany: currently +0.7% at 18343
UK: currently +0.6% at 8227
France: currently -0.2% at 7512, with election part’1 this Sunday
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Have a good Friday