US Futures mixed - Watch JNJ, TGT, LOW, HD, A, CREE


The S&P 500 Futures remain on the upside after the S&P 500 Index added 7 points (+0.23%) to 3389 yesterday

Trading floor 3

The S&P 500 Futures remain on the upside after the S&P 500 Index added 7 points (+0.23%) to 3389 yesterday, eventually surpassing its February record close of 3386.

Later today, the U.S. Federal Reserve will release its latest FOMC meeting minutes.

European indices are slightly bullish. The U.K. Office for National Statistics has released July CPI at +1.0% (vs +0.6% on year expected). The European Commission has posted final readings of July CPI at +0.4% on year, as expected.

Asian indices closed on a mixed mood as the Hong Kong HSI and the Chinese CSI faced a down move when the Japanese Nikkei and the Australian ASX were up. This morning, official data showed that Japan's exports declined 19.2% on year in July (-20.9% expected), while core machine orders dropped 7.6% on month in June (+2.0% expected).

WTI Crude Oil futures are under pressure. The American Petroleum Institute (API) reported that U.S. crude-oil inventories fell 4.3 million barrels last week. Later today, EIA will release official crude oil inventories data for the same week.

Gold slightly declined below 2000 dollars as the US dollars tries to steady before Fed minutes.

Gold fell 13.02 dollars (-0.65%) to 1989.42 dollars while the dollar index rose 0.03pt to 92.297.

U.S. Equity Snapshot

Johnson & Johnson (JNJ), the health care products company, "entered into a definitive agreement to acquire Momenta (MNTA), a company that discovers and develops novel therapies for immune-mediated diseases, in an all cash transaction of 52.5 dollars per share, or approximately 6.5 billion dollars."

Source: TradingView, GAIN Capital

Target (TGT), the retailer, is expected to soar after reporting quarterly sales that smashed expectations. Second quarter sales jumped 24%, the fastest pace in the company's history. Adjusted EPS also beat forecasts.

Lowe's (LOW), the second-largest home improvement retailer in the US, is gaining ground before hours after posting better than expected quarterly earnings, on surging online sales. 

Home Depot (HD), the home improvement specialty retailer, was upgraded to "buy" from "neutral" at BofA Securities. 

Agilent (A), an international life sciences and diagnostics company, fell after hours on profit taking as the stock was trading close to its all-time highs despites quarterly earnings topping estimates.

Cree (CREE), the semiconductor company, lost ground in extended trading on weak outlook for the current quarter.

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