* A mixed day on Wall St overnight as market turns attention to earnings season. UPS fell -12% on poorer forward guidance on packaging growth
https://x.com/unusual_whales/status/1815839306134765965
* NVIDIA -0.90%, Tesla -2.04%, AAPL +0.47%, Amazon +2.11%, MSFT +0.43%, AMD -1.14%, Meta +0.29%
* In after hours, Google beat top and bottom line but the stock is down -1.58% so far while Tesla slightly beat top line but EPS at 0.52 was well short of 0.62 expected and Tesla is falling -5.76%
* Another lower day for oil and oil stocks, WTI Crude down -1.04% to $78.33
* Copper continued to be lower as lithium, lithium stocks down on average -2%
* Gold held $2400 well edging higher to $2409, AUD Gold helped by the lower AUD (66.15c) +0.95% to $3641 while Silver regained $29 to $29.24.
Column 1 Column 2 Column 3 0 STOCK INDICES [US 23 Jul 24] Overnight % 1 DOW -0.14% 40,358 2 S&P500 0.04% 5,566 3 NASDAQ 0.14% 18,032 4 DXY 0.12% 104.44 5 US 2 YR -0.65% 4.493 6 US 10 YR -0.14% 4.255 7 AUD -0.41% 0.6615 8 GOLD 0.55% $ 2,409 9 SILVER 0.39% $ 29.24 10 BTC -3.36% $ 65,934 11 12 13 GOLD Overnight % 14 GDX 0.00% 15 GDXJ -0.24% 16 NEWMONT GOLDCORP(NEM) -0.47% 17 BARRICK GOLD (GOLD) 1.14% 18 AGNICO EAGLE MINES (AEM) 0.90% 19 SILVER 20 SIL -0.12% 21 SILJ 0.16% 22 PAN AMERICAN SILVER(PAAS) 0.26% 23 LITHIUM 24 SPROTT LITHIUM MINERS (LITP) -2.28% 25 GLOBAL X LITHIUM (LIT) -2.34% 26 ALBEMARLE (ALB) -2.23% 27 SOQUIMICH (SQM) -2.52% 28 LITHIUM AMERICAS (LAC) -0.70% 29 PIEDMONT LITHIUM (PLL) 0.89% 30 ARCADIUM LITHIUM -2.54% 31 PATRIOT BATTERY METALS -3.02% 32 COPPER 33 GLOBAL X COPPER MINERS(COPX) -0.75% 34 BHP -1.22% 35 RIO -0.72% 36 SOUTHERN COPPER (SCCO) 0.75% 37 FREEPORT MCMORAN (FCX) -1.59% 38 FIRST QUANTUM MINERALS (FQVLF) -1.34% 39 TECK RESOURCES (TECK) -0.30% 40 OIL 41 XLE -1.59% 42 EXXON (XOM) -1.61% 43 CHEVRON )CVX) -1.85% 44 OCCIDENTAL (OXY) -1.31% 45 CONOCOPHILLIPS (COP) -1.33% 46 MARATHON OIL (MRO) -1.56% 47 HALLIBURTON (HAL) 0.30% 48 COAL 49 RANGE GLOBAL COAL (COAL) -1.02% 50 PEABODY ENERGY (BTU) -0.89% 51 ALPHA METALLURGICAL (AMR) 0.07% 52 ARCH RESOURCES (ARCH) -1.41% 53 WARRIOR MET COAL (HCC) 0.09% 54 URANIUM 55 GLOBAL X URANIUM (URA) -0.67% 56 NICKEL 57 SPROTT NICKEL MINERS (NIKL) -0.48% 58 RARE EARTHS 59 OPTICA RARE EARTHS (CRIT) -1.90%
An ugly day for macro with hard data (US home sales) and soft data (regional Fed surveys) all puking...
Source: Bloomberg
...was just the bad news needed to spark good news in STIRs as rate-cut expectations rebounded...
Source: Bloomberg
After yesterday's big exciting "everything's awesome" day, stocks, broadly-speaking did nothing today though as only Small Caps showed any willingness to move. Late-day selling pressure did not help, pulling everything but Small Caps into the red with Nasdaq the biggest loser...
...but that looked like yet another big short-squeeze....
Source: Bloomberg
The NDX/RTY unwind resumed today...
Source: Bloomberg
MAG7 stocks went nowhere ahead of GOOGL/TSLA earnings after the bell...
Source: Bloomberg
Treasuries were mixed today with the short-end outperforming...
Source: Bloomberg
...which dragged the yield curve (2s30s) almost to being dis-inverted....
Source: Bloomberg
Ethereum outperformed Bitcoin on the day as ETH ETFs were launched...
Source: Bloomberg
This followed a huge net inflow day yesterday into BTC ETFs...
Source: Bloomberg
Bitcoin was 3% lower back to $66k...
Source: Bloomberg
...as ETH ETF $ Volume soared to $1BN...
Source: Bloomberg
...which kept ETH around $3500 by the close...
Source: Bloomberg
Gold managed modest gains on the day, finding support at $2400...
Source: Bloomberg
Crude prices extended losses as CTAs pressed through technical levels but WTI found support at $76.69 intraday (its 200DMA) and bounced modestly...
Source: Bloomberg
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