US Futures up, watch, PEP, ADI, AMZN, GOOGL

,

The S&P 500 Futures remain on the upside after they showed resilience on Friday.

Stocks (2)

The S&P 500 Futures remain on the upside after they showed resilience on Friday.

Later today, the U.S. Treasury will release budget statement for June (863 billion dollars deficit expected).

European indices opened on a strong mood but the upside momentum is losing steam as German Minister of Health Spahn said that danger of a second wave Pandemic is real.

Asian indices all ended in the green. Government data showed that China's M2 money supply grew 11.1% on year in June (as expected), while new yuan loans totaled 1,810 billion yuan (1,800 billion yuan expected).

WTI Crude Oil futures are under pressure. The OPEC will launch the 55th edition of its Annual Statistical Bulletin later today.

Gold jumped 9.45 dollars (+0.53%) to 1808.16 dollars.

Gold remains on the upside above 1800 dollars.

The US Dollar is rebounding on second wave concerns. Also, the U.K. is urging businesses and individuals to prepare for the Dec. 31 end of the Brexit transition period.

GBP/USD fell 20pips to 1.2602 the day's range was 1.2601 - 1.2666 compared to 1.2567 - 1.2664 the previous session.


U.S. Equity Snapshot

Pepsico (PEP), the international beverage and food company, posted higher-than-expected revenue in the second quarter during the Covid-19 pandemic at 16 billion dollars. Organic sales fell 0.3%. Net income fell to 1.65 billion dollars, from 2.04 billion dollars in the comparable quarter last year.

Source: TradingView, Gain Capital


Analog Devices (ADI), a manufacturer of analog, mixed signal and digital signal processing chips, announced that it has signed an agreement to acquire Maxim Integrated Products in an all-stock deal. The transaction values the new entity at more than 68 billion dollars, according to both companies. Maxim shareholders will receive 0.63 share of Analog common stock for each Maxim share they hold at the closing of the transaction, which is expected to occur next summer. Both companies manufacture analog semiconductors.

Amazon's (AMZN), the e-commerce giant, price target was raised to 3,430 dollars from 2,500 dollars at Barclays.

Alphabet's (GOOGL), Google's holding company, price target was raised to 1,6000 dollars from 1,400 dollars at Barclays.


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.