2pm update - pre-holiday chop

US equities are battling to hold minor gains, a daily close in the sp'2050s remains very viable. VIX is subdued ahead of the Friday jobs report, -3% in the 14.60s. Metals are weak, Gold -$3. Oil is broadly weak, -1%.. as Iranian developments suggest more oil is coming this summer.


sp'60min

USO, daily

Summary

*It remains somewhat amusing that despite all the powerful up days.. Oil remains very close to the recent lows. Nothing has changed in terms of supply... a 'fire sale' remains very likely this summer.
--

Little to add on equities. I'd still expect some degree of selling to appear in the closing hour of this trading week, as some of the rats get twitchy.
-

notable strength: DISCA +2.4%... I'm not aware of the reason, and its counter to the recent weak price action.