Good morning. US equity futures are leaning upward, SPX +13pts, we’re set to open at 5460. USD is +0.1% at DXY 105.22. The precious metals are fractionally mixed, Gold +$2, with Silver u/c. WTIC is -0.6% in the low $81s.
sp’60min
Summary
Yesterday saw considerable chop, settling a little weak. S/t momentum settled on the moderately low side.
Overnight futures have been subdued, if leaning on the positive side. We’re set to open +10/15pts. The s/t cyclical setup favours the bulls.
The bigger daily cycles lean net bearish for a few days. At best… orange gap.
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Early movers
AAPL +0.8%, Evercore, 220>250
AMD +0.5%
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AMZN +0.4%, yesterday’s bearish engulfing candle is suggestive this will turn red at some point today.
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AVGO +1.2%
BA -1.1%, offers to buy Spirit Aero (SPR) for $35 a share.
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CCL -0.9%, EPS *
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COIN +2.5%
Bitcoin is +1.5% at $61178… having spiked from around key support. Cyclically low, as the setup favours the bulls into July.
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DIS +0.6%, Goldman, buy, $125
DJT +7.5%
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ENVX +12.0%, Enovix gains a contract to supply batteries for a VR headset for a small Cal’ based company.
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EPAC -8.4%, post earnings upset
FCX +0.1%, with copper -2cents to $4.41
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FDX +0.1%, earnings due in AH
GOLD +0.2%
GPS +4.4%, Cowen, hold>buy, 28>30
MARA +2.1%
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MU +1.6%
NVDA +2.4%
PENN -2.3%, Raymond James, outperform>market-perform
RIVN +2.0%
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SE -3.9%, JPM, overweight>neutral, $78
SMCI +1.6%
SPR -3.4% in the $32s, with Boeing offering $35s
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TSLA +0.6%
TSM +1.5%
UBER +1.1%, Piper Sandler, 86>88
UNG -1.3%, with Natgas $2.92
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VIX +0.7% at 13.42
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XAIR -18.7%, post earnings horror
XOM +0.2%
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Overnight markets
Asian markets were mixed, whilst European markets are leaning weak…
Japan: +0.9% to 39173
China: -0.4% to 2950
Germany: currently -1.0% at 18137
UK: currently -0.2% at 8266
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Have a good Tuesday