* A mixed day on Wall St overnight as market turns attention to...

* 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