Some Earnings

Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Monday, Dec. 9. The Bottom Line segment of today’s podcast starts at (4:00) for listeners who want to skip ahead.

State of Play

As we eye our board of indicators for signs of direction at 0650, things are pretty quiet:

• Stock index futures are flat with no major US index moving more than 0.2% from the break-even point;

• Commodities are seeing some signs of life however, with WTI crude oil up 1.5% to trade north of $68/barrel and copper up 1.8%. This is likely due to China pledging “more proactive” fiscal stimulus;

• Cryptos are down a bit with Bitcoin down 1% to trade around $98,200;

• Bonds are unchanged. The 2-year yields 4.11% with the 10-year yielding 4.17%.

Today’s Known Events

It’s a slow start to a pretty slow week, with Wednesday’s Consumer Price Index really the lone highlight. We do have some earnings to keep us interested:

• Rent the Runway (RENT 0.00%↑) is due to report at some point before the open at 0930;

• After the close at 1600 we’ll hear from:

  • C3.ai (AI 0.00%↑)

  • Oracle (ORCL 0.00%↑)

  • Casey’s General Stores (CASY 0.00%↑)

  • Toll Brothers (TOL 0.00%↑)

  • Vail Resorts (MTN 0.00%↑)