Good morning. US equity futures are moderately higher, SPX +16pts, we’re set to open at 3416. USD is -0.1% in the DXY 92.96s. The precious metals are fractionally mixed, Gold u/c, with Silver +0.2%. WTIC is +1.0% in the $38s.
sp’60min
Summary
Yesterday saw very significant downside on renewed Corona concerns. S/t momentum floored in the early afternoon, with a moderate equity recovery into the close.
We’re set to open on a positive note, for what is a further bounce from the Monday low of 3664. Clearly, any further positive stimulus headlines from Pelosi or Mnuchin would be an excuse to tag/fill upside green gap.
—
Early movers
AAPL +0.7%, earnings Thurs’ AH
–
AMD -2.2%, announces it will be buy Xilinx (XLNX) for $35bn in stock. Effectively… its a merger. Earnings are due in AH.
–
BA +0.4%, earnings due early Wed’
–
CAT -1.3%, EPS $1.34 vs 1.17est. Rev’ y/y -22.6% to $9.9bn vs 9.8est. Lower equipment demand.
–
CCL +1.3%, shippers dead cat bouncing
CHGG -4.3%, post earnings depression
CRSR +4.9%
–
CROX +2.4%, EPS 94cents vs 70est. Rev’ y/y +15.6% to $362M vs 344est. Broadly good.
–
DIS +0.3%
FB +0.9%, Zuckerberg due before the Senate Wed’. E’ Thurs’ AH
FFIV +4.3%, post earnings jump
GDX +0.2%
–
JBLU +2.7%, EPS -$1.75 vs -1.95est. Rev’ y/y -76.4% to $492M vs 478est. Marginally less horrific than Q2.
–
LLY -3.9%, EPS $1.54 vs 1.71est. Rev’ y/y +4.8% to $5.7bn vs 5.9est. Company blaming slower diabetes drug sales.
–
MMM -0.2%, EPS $2.43 vs 2.27est. Rev’ y/y +4.5% to $8.3bn vs 8.4est. Healthcare product (masks etc) ‘boost’.
–
MRK +1.6%, EPS $1.74 vs 1.43est. Rev’ y/y +1.2% to $12.5bn vs 12.2est. Guidance raised.
–
MSFT +0.8%, earnings due in AH
NEM +0.3%
NXPI +2.3%, post earnings gains
–
PFE -0.3%, EPS 72cents vs 71est. Rev’ y/y -4.3% to $12.1bn vs 12.3est. Pfizer not ready to release Corona vaccine data.
–
PINS +1.5%, earnings Wed’ AH
–
RTX +0.3%, EPS 58cents vs 50est. Rev’ y/y +32.3% to $15.05bn vs 15.16est. Company is touting better cost controls.
–
SWK -6.3%, EPS $2.89 vs 2.70est. Rev’ y/y +6.0% to $3.8bn vs 4.0est. Broadly good, as those on lockdown resorted to home improvement. The rev’ miss is annoying mr market.
–
TECK -6.0%, EPS CC$0.24 inline. Rev’ y/y -24.5% to CC$2.29bn vs CC$2.33est. Less mining due to Corona restrictions.
–
TWLO -0.5%, post earnings cooling
–
TWTR +1.2%, JPM upgrade 39>52 on ‘brand recovery’… which seems a bizarre notion. Dorsey is due before the US Senate on Wed’. Earnings due Thurs’ AH
–
XLNX +11.4%, merging with AMD
XOM +0.2%, earnings due early Fri’
ZM +0.9%
—
Overnight markets
Its pretty subdued out there…
Japan: -0.04% at 23485
China: CLOSED
South Korea: -0.6% at 2330
–
Germany: currently -0.1% at 12160
UK: currently +0.2% at 5801
—
Have a good Tuesday