US Futures still rising, watch GILD, LLY, BX, PCG

The S&P 500 Futures remain on the upside after they jumped on an unexpected surge in May jobs on Friday.


The S&P 500 Futures  remain on the upside after they jumped on an unexpected surge in May jobs on Friday.

European indices are consolidating. The Eurozone Sentix Investor Confidence Index for June was released at -24.8 (vs -22.0 expected). The German Federal Statistical Office has reported April industrial production at -17.9% (-16.8% on month expected).

Asian indices all closed in the green. Over the weekend, government data showed that China's exports fell 3.3% on year in May (-6.5% expected) and imports declined 16.7% (-7.9% expected). This morning, official data showed that Japan's final readings of first quarter annualized GDP posted -2.2% on quarter (-2.1% expected).

WTI Crude Oil Futures remain on the upside. Over the weekend, The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to a one-month extension of oil-production cuts.

Gold consolidates after losing ground at the end of last week on strong US jobs data. The US dollar is dipping against commodity currencies on economic recovery hopes. 

Gold rose to 10.86$ (+0.64%) to 1695.92 dollars. AUD/USD rose 7pips to 0.6976 while USD/CAD fell 7pips to 1.3415.

US Equity Snapshot

Gilead Sciences (GILD), a biopharmaceutical company focused on infectious diseases, might have been approached by UK pharma AstraZeneca regarding a potential merger, reported Bloomberg.

Eli Lilly (LLY), a developer and producer of pharmaceuticals, announced "the start of a Phase 1 study for its second potential COVID-19 antibody treatment."

Blackstone (BX), the investment company, cut its offer for Dutch lender NIBC to 7 euros a share from 9.32 euros a share previously.

PG&E Corp (PCG), a holding company involving in energy-based businesses, "expects to pursue 5.75 billion dollars underwritten public offerings of common stock and equity units to partially fund emergence from Chapter 11."

Source : TradingVIEW, Gain Capital

More from Equities

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account