Good morning. US equity futures are moderately higher, SPX +24pts, we’re set to open at 3407. USD is -0.2% in the DXY 92.84s. The precious metals are broadly higher, Gold $9 (printing $1982s), with Silver +1.2% (printing $27.82). WTIC is +1.1% in the $37s (printing $38.02).
sp’60min
Summary
Yesterday opened positive, clawed to 3402, with some afternoon choppy weakness… which made for a bull flag.
We’re set to open moderately higher, with that bull flag set to play out. First resistance is the upper hourly bollinger at 3418. Prime target is the 3440/60 zone. Each hour closer to the Fed will lean to more choppy conditions.
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Early movers
AAPL +2.1%, product event due 1pm EST.
ADBE +1.4%, earnings due in AH
AG +2.2%, higher silver
AMD -0.4% ‘may’ be related to the Sony news.
BA +0.9%
BAC +0.7%
C +1.3%, dead cat bouncing
CCL -2.3%, weak shippers
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DKNG -1.8%, just some cooling after a powerful Monday
FB +1.2%
FCX +2.0%, with copper u/c at $3.07
FDX +1.0%, earnings due in AH
GDX +1.6%
GOLD +1.7%
LEN -3.8%, post earnings depression
MRNA +1.8%
MSFT +1.2%
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MU +1.0%
NEM +1.1%
NFLX +1.9%, Keybanc ‘overweight to $590s’
NKLA -5.8%, under SEC review
NVAX +6.8%, manufacturing agreement with India
NVDA +2.6%
PAAS +3.1%, higher silver
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RCL -0.9%
ROKU +3.4%, Keybanc ‘overweight to $228s’
SHOP -1.1%
SNE -3.5%, cuts Playstation forecast on chip supply issues
SPOT +2.0%
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SQ +2.2%
TSLA +4.4%
TLT -0.3%
TWTR +0.9%, Keybanc ‘sector weight’
UAL +0.7%
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VIX -2% in the 25s
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WFC +0.6%
XOM +1.0%
ZM +2.0%
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Overnight markets
Asian markets were moderately mixed, whilst European markets are broadly higher…
Japan: -0.4% at 23454
China: +0.5% at 3295
Germany: currently +0.3% at 13235
UK: currently +1.0% at 6086
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Have a good Tuesday