Pre-Market Brief

Good morning. Futures are fractionally higher, sp +1pt, we're set to open at 2032. Metals are moderately weak, Gold -$8, which is naturally impacting the miner ETF of GDX -1.3%. Energy prices are on the rise, Oil +1.3%, with Nat' Gas +0.7%.


sp'daily5

Summary

So.. a relatively quiet start to the week, unless you're a gold bug, in which case.. you gotta be worried that last weeks low of $1130 will be taken out. As ever.. if the metals are weak, the miners will get whacked.. regardless of any main market strength.

Notable early strength: oil/gas drillers.. RIG +2.3%, SDRL +3.9%, no doubt due to rising oil prices.. although the bigger trend in Oil remains toward the $65/60 zone. Hard to tell if the drillers have fully priced that in, I'd guess.... no.
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Morning chatter, Hunter with Axel-Merk on 'risky assets'.



Kinda interesting discussion, but as ever.. make of that... what you will.
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Good wishes for the week ahead