Asia Morning: US Stock Index Futures Advance Over 1%
Ming Lam May 25, 2020 9:17 PM
On Monday U.S. markets were closed for the Memorial Day. However, major stock index (Dow, S&P 500, Nasdaq 100) futures were still up over 1%...
On Monday U.S. markets were closed for the Memorial Day. However, Major Stock Index (Dow, S&P 500, Nasdaq 100) Futures were still up over 1%.
Source: GAIN Capital, TradingView
Later today, U.S. New Home Sales (a decline to an annualized rate of 480,000 units in April expected) and the Conference Board's Consumer Confidence Index (a rise to 87.0 in May expected) will be reported.
In the Asia Pacific region, Hong Kong's Hang Seng Index (+0.1%) avoided drifting lower after tumbling over 5% last Friday. Japan's Nikkei 225 Index gained 1.7%, and Australia's ASX 200 Index jumped 2.2%.
European stocks were broadly higher, with the Stoxx Europe 600 Index rising 1.5%. Germany's DAX surged 2.9%, and France's CAC gained 2.2%. The U.K. market was closed for a bank holiday.
Spot gold price retreated $7 (-0.5%) to $1,726 an ounce.
Brent crude oil futures (July) advanced 1.1% to $35.53 a barrel.
On the forex front, the ICE U.S. Dollar Index was little changed at 99.81, amid holiday-thinned trading.
EUR/USD slipped 0.1% yo 1.0896. Bank of France governor Francois Villeroy de Galhau said the European Central Bank "will probably need to go even further", as it has room to act. On the other hand, the German IFO Business Climate Index climbed to 79.5 in May (78.5 expected) from 74.2 in April and Expectations Index bounced to 80.1 (75.0 expected) from 69.4.
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