Good morning. Futures are broadly flat, sp +1pt, we're set to open around the 2100 threshold. USD is back in cooling mode, -0.2% in the DXY 96.60s. Metals remain weak, Gold -$4, with Silver -1.1%. Oil is similarly weak, -1.0% in the $51s.
*with a bearish outlook from mid Aug-early Oct', I will be highlighting weekly'6 across the next few months.
Awaiting key retail sales data at 8.30am
Micron (MU), +12%... after a China takeover bid.
JPM +0.7%, after better than expected Q2 earnings.. although the financials are still struggling to increase revenue. They need higher int' rates!
Update from Mr C.
Overnight China action: volatility continues to cool... with a day of relatively minor chop, briefly breaking the 4K threshold, but settling -1.2% @ 3924. Upside target remains 4300/500.. before another wave down to around 3200/000.
Have a good Tuesday
8.31am. Retail sales -0.3%.... vs previous 1.2%... its a pretty lousy number.
9.00am... Equity futures cooling a little.. sp -2pts... 2097.... risk remains 2085/80.... but even that looks difficult.
USD weakening... -0.5% in the DXY 96.30s.