Good morning. US equity futures are moderately lower, sp -6pts, we're set to open at 2057. USD is cooling, -0.4% in the DXY 98.00s. Metals are bouncing, Gold +$5... whilst Oil is +0.5%, ahead of the EIA report.
So... we're set to open a little lower, but unlike yesterday, the declines are minor, and we should see the indexes turn positive by late morning.
The Oil report (10.30am) will likely be key. With API showing a net draw down, Oil will be vulnerable to at least a bounce to the $40 threshold.
YHOO +2%... as the company decides to keep the Alibaba part of the company, but sell the Yahoo part. What a bizarre reversal!
Arguably.. YHOO is now the worse run company in the western world... even more incompetently lead than AMZN. How many months until Melissa gets paid to walk away into the sunset?
Update from Oscar
His highlighting of the Transports... very apt.
Doomer chat, Hunter with Kirby
There is a great deal of nonsense talk in this interview.. not least about the precious metals. Make of it... what you will.
Overnight Asia action
Japan: -1.0% @ 19301... the 20K threshold is looking out of range
China: +0.1% @ 3472... the 3800s by end month... difficult
Have a good Wednesday
9.39am.. A complete opening reversal.. with an initial black-fail candle in the VIX.
Equity bears already seen their exit window close at 9.31am.
Eyes to Oil..... and related energy stocks.