US Futures mixed, watch WBA, CSCO, MSFT, BBBY

,

The S&P 500 Futures are consolidating, except the Nasdaq 100 future, trading higher after reaching a fresh record close of 10666 on Wednesday.

FOREX 8

The S&P 500 Futures are consolidating, except the Nasdaq 100 future, trading higher after reaching a fresh record close of 10666 on Wednesday.

Today, the U.S. Labor Department will release initial jobless claims in the week ended July 4 and the Commerce Department will report final readings of May wholesale inventories. 

European indices are mixed, with the German Dax gaining more than 1% while the British FTSE 100 and Italian FTSE MIB are losing more than 0.5%. The German index was support by SAP, an enterprise software company, posting better than expected second quarter results.

Asian indices ended into positive territory with the China Mainland CSI 300 adding 1.40% recording an 8-day rally. The index is now up 18.17% year to date while in comparison the Nasdaq 100 is up 22.14%. Also, Hong Kong HSI gained 0.31%, Australian ASX 200 added 0.59% and the Japanese Nikkei rose 0.40%. On the economic data front, China's Consumer Price Index grew 2.5% on year in June (as expected) while Producer Price Index dropped 3.0% (-3.2% expected). Also, Japan's core machine orders grew 1.7% on month in May while a -5.0% decline was expected.


WTI Crude Oil futures are little changed. The Energy Information Administration reported a build of 5.7M barrels in crude-oil stockpiles last week, in contrast to expectations of a reduction of 3.1M barrels. Meanwhile, U.S. crude oil production was unchanged at 11.0M b/d. Standard Chartered Bank projected oil demand in 2021 would be only at 2017 level as coronavirus pandemic would destroy four years of growth.US Equity Snapshot

Gold prices are trading around 1,810 dollars at their higher level since September 2011 on coronavirus fears while the US dollar remains weak on rallying equities. 

Gold fell 0.47 dollar (-0.03%) to 1808.42 dollars. 

The EUR/USD fell 7pips to 1.1323 and GBP/USD rose 32pips to 1.2642.


US EQUITY SNAPSHOT

Walgreens Boots Alliance (WBA), a global leader in retail and wholesale pharmacy, reported third quarter adjusted EPS down to 0.83 dollar, below estimates, from 1.47 dollar a year earlier. The company expects full year adjusted EPS of 4.65-4.75 dollars, missing the current consensus. Walgreens announced 4,000 jobs cuts and suspends its share buyback plan.


Source: TradingVIEW, Gain Capital

Cisco Systems(CSCO), a leading global supplier of network hardware and software, was upgraded to "overweight" from "equalweight" at Morgan Stanley.

Microsoft's (MSFT), the software development company, price target was raised to 260 dollars from 220 dollars at Wedbush.

Bed Bath & Beyond (BBBY), the home furnishing retail chain, disclosed first quarter adjusted LPS of 1.96 dollar, missing estimates, down from an EPS of 0.12 dollar a year ago, on net sales of 1.3 billion dollars, also below consensus, down from 2.6 billion dollars in the previous year. The company expects to close about 200 stores over the next two years.

Costco Wholesale (COST), an operator of a chain of warehouse stores, posted June net sales up 11.1% to 16.18 billion dollars.

Regeneron (REGN), the pharma, was upgraded to "buy" from "hold" at SunTrust.

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 Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.