US Futures turn higher, watch LOW, TGT, MRNA, JNJ, URBN

The S&P 500 Futures are rebounding after they closed in the red yesterday, halting a three-session rally.


The S&P 500 Futures are rebounding after they closed in the red yesterday, halting a three-session rally.

In the afternoon will be released the minutes from the last FOMC meeting

European indices are searching for a trend. The European Commission has posted final readings of April CPI at +0.3% (vs +0.4% on year expected). The U.K. Office for National Statistics has released April CPI at +0.8% (+0.9% on year expected) and April PPI at -0.7%, vs -0.5% expected.

Asian indices closed in a mixed mood. Japanese Nikkei, Australian ASX and Hong Kong HSI closed on the upside whereas Chinese CSI closed in the red. Japan's core machinery orders slid 0.4% on month in March (-6.7% expected). Australia's preliminary retail sales dropped 17.9% on month in April (+8.5% in March).

WTI Crude Oil Futures remain on the upside. The American Petroleum Institute (API) reported that U.S. crude oil stockpile fell 4.8 million barrels for week ended May 15. Later today, EIA will release crude oil inventories data for last week.

Gold rose 5.05 dollars (+0.29%) to 1750.1 dollars, still firm on weak global economic outlook.

The EUR/USD gained 18pips to 1.0941, still well oriented following the EU common fund proposal.

US Equity Snapshot

Lowe's (LOW), the second-largest home improvement retailer in the US, surged before hours after reporting first quarter adjusted EPS up 45% to 1.77 dollar. Comparable sales jumped 11.2%. Both figures beat estimates. Also, the company withdraws full year financial guidance.

Target (TGT), the retailer, unveiled first quarter comparable sales up 10.8% vs a 4.8% increase for the same period of last year. Digital sales jumped but the company saw also an increase in labor expenses and fewer sales of high-margin items.

Moderna (MRNA) lost ground in extended trading after STAT reported that vaccine experts say the biotech "didn’t produce data critical to assessing Covid-19 vaccine".

Johnson & Johnson (JNJ), the healthcare giant, announced the discontinuation of talc-based Johnson’s Baby Powder in U.S. and Canada.

Urban Outfitters (URBN), the clothing retailer, posted first quarter loss of 138.4 million dollars, or 1.41 dollar a share, vs a net income of 32.6 million dollars, or 0.31 dollar a share, a year earlier. Sales fell to 588.5 million dollars from 864.4 million dollars a year ago. Those figures missed estimates. The company warned second quarter comparable sales could decrease more than 60%.

Source : TradingVIEW, Gain Capital

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