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Stocks To Watch For September 12

|About: Amazon.com, Inc. (AMZN), FCX, NVDA, ROKU, SPY

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September 12 - Stock mentions SPY, AMZN, NVDA, ROKU, FCX

US Markets

  • S&P 500 Futures +7.25 points
  • US 10-Year Yield 1.68%
  • VIX 14.6
  • Oil $55.19
  • Dollar Index 98.93

International Markets

  • Shanghai +0.75%
  • HSI -0.26%
  • Nikkei +0.75%
  • KOSPI +0.84%
  • Germany +0.63%
  • UK +0.24%

Macro

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The ECB cut deposit rates by ten bps to -0.5bps and started a new round of QE at €20 billion. I thought the QE announcement was light, and at the moment I'm rather surprised that the euro is weakening and the German 10-Year is falling. Well, see how things go as the hours and days progress. But based on what I see so far, I wouldn't be surprised to see the euro and yield rise.

S&P 500 (SPY)

The S&P 500 futures are rising this morning on news that President Trump will delay the next round of tariffs by two weeks. The S&P futures have crossed the 3,000 mark, and that will help to put the all-time now less than 1% away.

Copper

Copper prices are rising this morning, a global growth proxy. It broke a pretty strong downtrend which should help to lift copper price towards $2.71.

Stocks

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Freeport (FCX)

Freeport is a rising as results and is nearing a pretty big break out should it get over $10.40. Sets up a move higher towards $11.

Nvidia (NVDA)

Nvidia continues to head higher with $198 in reach.

Amazon (AMZN)

Amazon continues to hold strong and is now starting to trend higher. Again, nothing changes here, $1900 is still on track.

Roku (ROKU)

Roku is currently holding support around $144, but resistance will now come at the uptrend around $157. But that RSI is very high and that may mean that the stock is still heading lower.

-Have a great day

-Mike

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