Wednesday, 13 April 2016

Pre-Market Brief

US equity futures are moderately higher, sp +12pts, we're set to open at 2073, a mere 2pts below the recent key high. USD is +0.7% in the DXY 94.60s. Metals are under pressure, Gold -$15, with Silver -1.0. Oil is -1.2%, ahead of the latest EIA report.



*awaiting some key econ-data, notably retail sales.

With overnight sig' strength in Asia and Europe, its not surprising to see another push higher for US futures.

Clearly, we're now on the edge of a major breakout, having been broadly stuck for a few weeks.

As of the open, the sp'500 will be a mere 3% from the May 2015 high.

early movers...

BAC +2.1%... Mr Market expecting rate hikes?
FCX +1.8%.. as fears of bankruptcy continue to lessen

GDX -2.7%, as metals cool
RIG, SDRL, both lower by around -2.0%
TVIX -5% in the $4.30s, as VIX set for the 13s.

Overnight action

Japan: +2.8% @ 16381
China: +1.4% @ 3066
Germany; currently +2.3% @ 9986

Farewell to Peabody

Peabody Energy (BTU) has finally filed for bankruptcy, that leaves just Consol (CNX) as the last of the notable listed coal miners.

No doubt some will find a way to spin this as bullish for the sector and broader US/world economy.