First Call

First Call February 18, 2021

Feb 18, 2021

Thomas Thornton

  • S&P futures down 0.4% after US equities put in a mixed performance on Wednesday with growth and momentum factors extending their recent underperformance.
  • Walmart earnings miss revs better but big CAPEX increase -4.75% premarket
  • Asian equities mostly lower overnight with South Korea and Hong Kong the big decliners while China gained on its return from the Lunar New Year holiday.
  • European markets are narrowly mixed.
  • Treasuries unchanged to slightly firmer after finding some reprieve from Tuesday's yield spike in the prior session despite stronger economic data.
  • Dollar weaker on the major crosses.
  • Gold up 0.4%.
  • WTI crude up 0.6% and up over 3% for the week on supply concerns stemming from extreme weather in Texas.
  • A few extra charts Heating Oil (sell it here), Crude (getting closer to wave 5 price objective) Bloomberg World, Nifty 50 India
  • Wave personalities primer
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