Good morning. US equity futures are broadly flat, SPX +1pt, we’re set to open at 4787. USD is +0.1% at DXY 96.27. The precious metals are moderately lower, Gold -$9 (printing $1794), with Silver -0.7% (printing $22.85). WTIC is -0.5% in the $75s.
sp’60min
Summary
Yesterday saw the SPX break a new hist’ high of 4807, but the market was tired, settling fractionally lower. S/t momentum ticked lower across the day, settling on the marginally negative side.
Overnight futures have been subdued, we’re set to open broadly flat. The s/t cyclical setup favours the bears.
Best guess… some cooling to 4270/4700 zone – probably this Thursday, before resuming upward.
Yours truly has a shopping cart, but I see no hurry until tomorrow.
Targets: FCX, F, MOS, CFVI (to add)
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Early movers
AAPL +0.2%
AG -1.7%, lower silver
AKAM +1.3%, DA Davidson ‘buy to $143s’
BABA -0.9%
BIDU -1.7%
CFVI -0.5%
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COIN -1.3%
Bitcoin is -1.6% in the $46000s
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DIDI -2.2%, plan to list on the HK exchange
F -0.2%
FCEL -8.3%, post earnings upset
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FCX -0.7%, with copper -4cents to $4.39
GDX -0.6%
GOLD -0.8%
HOOD -1.5%, the horror continues
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KR +1.9%
KSS -2.4%
JPM +0.5%
MRNA -1.4%
NEM -0.8%
OXY -0.2%
PFE -0.9%
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RIVN -2.0%, further chatter of delays
SLB -0.3%
TSLA +1.5%
TLT -0.2%, lower bonds as yields climb
UAL -0.2%
VSCO +7.0%, $250M buyback
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VIX +0.9% in the 17s
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X -0.1%
XOM -0.1%
ZM -0.4%
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Overnight markets
Asian markets were broadly lower, whilst European markets are moderately mixed…
Japan: -0.6% at 28906
China: -0.9% at 3597
Germany: currently -0.4% at 15896
UK: currently +0.8% to 7430
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Have a good Wednesday