050520 US Pre OPen
The S&P 500 Futures continue to rebound after they stabilized yesterday after two losing sessions.
Share this:
The S&P 500 Futures continue to rebound after they stabilized yesterday after two losing sessions. Investors were encouraged to see that, as countries relaxed coronavirus-induced restrictions, oil prices rallied on expectations of rebounding demand.
Later today, March U.S. Trade Balance (deficit of 44.2 billion dollars expected), April Markit U.S. Services Purchasing Managers' Index (final reading, 27.0 expected) and Institute for Supply Management's (ISM) Non-Manufacturing Index (37.8 expected) will be reported.
European indices are volatile as German judges assessed the ECB’s quantitative easing program, which was introduced in 2015, and said it partially violates the law. But this decision does not concern financial assistance measures taken by the EU or the ECB in the context of the current Covid-19 crisis. Research firm Markit has published final readings of April Services PMI for the U.K. at 13.4 (vs 12.3 expected). The European Commission has posted March PPI at -2.8 (vs -2.6% on year expected).
Asian indices closed on the upside. Japan and China are still closed. The Reserve Bank of Australia has kept its interest rate unchanged at 0.25% this morning.
WTI Crude Oil Futures remain on the upside. Later today, API would release the change of U.S. oil stockpile data for May 1.
Gold eased 4.2 dollars (-0.25%) to 1697.87 dollars per ounce, on some easing lockdown restrictions, but still flirting with the 1700 dollars level.
On the forex front, EUR/USD dropped 70pips to 1.0837, under pressure following the German judges comments. USD/CAD fell 34pips to 1.4053 on bouncing oil.
Later today, March U.S. Trade Balance (deficit of 44.2 billion dollars expected), April Markit U.S. Services Purchasing Managers' Index (final reading, 27.0 expected) and Institute for Supply Management's (ISM) Non-Manufacturing Index (37.8 expected) will be reported.
European indices are volatile as German judges assessed the ECB’s quantitative easing program, which was introduced in 2015, and said it partially violates the law. But this decision does not concern financial assistance measures taken by the EU or the ECB in the context of the current Covid-19 crisis. Research firm Markit has published final readings of April Services PMI for the U.K. at 13.4 (vs 12.3 expected). The European Commission has posted March PPI at -2.8 (vs -2.6% on year expected).
Asian indices closed on the upside. Japan and China are still closed. The Reserve Bank of Australia has kept its interest rate unchanged at 0.25% this morning.
WTI Crude Oil Futures remain on the upside. Later today, API would release the change of U.S. oil stockpile data for May 1.
Gold eased 4.2 dollars (-0.25%) to 1697.87 dollars per ounce, on some easing lockdown restrictions, but still flirting with the 1700 dollars level.
On the forex front, EUR/USD dropped 70pips to 1.0837, under pressure following the German judges comments. USD/CAD fell 34pips to 1.4053 on bouncing oil.
US Equity Snapshot
DuPont de Nemours (DD), the diversified specialty chemicals company, reported first quarter adjusted EPS flat at 0.84 dollar, above estimates. Sales were down to 5.22 billion dollars from 5.41 billion dollars a year earlier, but also beat forecasts.
Fiat Chrysler Automobiles (FCAU), the carmaker, unveiled first quarter net loss of 1.69 billion euros vs a net profit of 508 million euros a year earlier. The company withdraws its full year forecasts. It is still committed to completing the 50/50 merger with Peugeot by the end of this year or early 2021.
Marathon Petroleum (MPC), one of the largest U.S. oil refiners, jumps before hours after reporting a smaller than expected first quarter adjusted LPS of 0.16 dollar.
Skyworks Solutions (SWKS), the producer of wireless semiconductors, released second quarter adjusted EPS down to 1.34 dollar, just above the forecast, from 1.47 dollar a year ago on revenue down to 766.1 million dollars, also just ahead of the consensus, from 810.4 million dollars a year earlier.
AIG (AIG), the global insurance and financial services firm, posted first quarter adjusted EPS of 0.11 dollar, significantly missing the consensus, down from 1.58 dollar a year ago. The company is withdrawing previously issued guidance.
Diamondback Energy (FANG), the independent oil and gas producer in the US, disclosed first quarter adjusted EPS of 1.45 dollar, beating estimates, up from 1.39 dollar a year ago on revenue of 899.0 million dollars up from 864.0 million dollars in the prior year.
L Brands (LB), the fashion retailer, reported that it has reached a mutual agreement with private equity firm Sycamore Partners to terminate their previously announced transaction. In April, the company sued to force Sycamore Partners to complete the acquisition of a controlling stake in lingerie brand Victoria's Secret.
Source : TradingVIEW, Gain Capital
The S&P 500 Futures continue to rebound after they stabilized yesterday after two losing sessions. Investors were encouraged to see that, as countries relaxed coronavirus-induced restrictions, oil prices rallied on expectations of rebounding demand.
Later today, March U.S. Trade Balance (deficit of 44.2 billion dollars expected), April Markit U.S. Services Purchasing Managers' Index (final reading, 27.0 expected) and Institute for Supply Management's (ISM) Non-Manufacturing Index (37.8 expected) will be reported.
European indices are volatile as German judges assessed the ECB’s quantitative easing program, which was introduced in 2015, and said it partially violates the law. But this decision does not concern financial assistance measures taken by the EU or the ECB in the context of the current Covid-19 crisis. Research firm Markit has published final readings of April Services PMI for the U.K. at 13.4 (vs 12.3 expected). The European Commission has posted March PPI at -2.8 (vs -2.6% on year expected).
Asian indices closed on the upside. Japan and China are still closed. The Reserve Bank of Australia has kept its interest rate unchanged at 0.25% this morning.
WTI Crude Oil Futures remain on the upside. Later today, API would release the change of U.S. oil stockpile data for May 1.
Gold eased 4.2 dollars (-0.25%) to 1697.87 dollars per ounce, on some easing lockdown restrictions, but still flirting with the 1700 dollars level.
On the forex front, EUR/USD dropped 70pips to 1.0837, under pressure following the German judges comments. USD/CAD fell 34pips to 1.4053 on bouncing oil.
Later today, March U.S. Trade Balance (deficit of 44.2 billion dollars expected), April Markit U.S. Services Purchasing Managers' Index (final reading, 27.0 expected) and Institute for Supply Management's (ISM) Non-Manufacturing Index (37.8 expected) will be reported.
European indices are volatile as German judges assessed the ECB’s quantitative easing program, which was introduced in 2015, and said it partially violates the law. But this decision does not concern financial assistance measures taken by the EU or the ECB in the context of the current Covid-19 crisis. Research firm Markit has published final readings of April Services PMI for the U.K. at 13.4 (vs 12.3 expected). The European Commission has posted March PPI at -2.8 (vs -2.6% on year expected).
Asian indices closed on the upside. Japan and China are still closed. The Reserve Bank of Australia has kept its interest rate unchanged at 0.25% this morning.
WTI Crude Oil Futures remain on the upside. Later today, API would release the change of U.S. oil stockpile data for May 1.
Gold eased 4.2 dollars (-0.25%) to 1697.87 dollars per ounce, on some easing lockdown restrictions, but still flirting with the 1700 dollars level.
On the forex front, EUR/USD dropped 70pips to 1.0837, under pressure following the German judges comments. USD/CAD fell 34pips to 1.4053 on bouncing oil.
US Equity Snapshot
DuPont de Nemours (DD), the diversified specialty chemicals company, reported first quarter adjusted EPS flat at 0.84 dollar, above estimates. Sales were down to 5.22 billion dollars from 5.41 billion dollars a year earlier, but also beat forecasts.
Fiat Chrysler Automobiles (FCAU), the carmaker, unveiled first quarter net loss of 1.69 billion euros vs a net profit of 508 million euros a year earlier. The company withdraws its full year forecasts. It is still committed to completing the 50/50 merger with Peugeot by the end of this year or early 2021.
Marathon Petroleum (MPC), one of the largest U.S. oil refiners, jumps before hours after reporting a smaller than expected first quarter adjusted LPS of 0.16 dollar.
Skyworks Solutions (SWKS), the producer of wireless semiconductors, released second quarter adjusted EPS down to 1.34 dollar, just above the forecast, from 1.47 dollar a year ago on revenue down to 766.1 million dollars, also just ahead of the consensus, from 810.4 million dollars a year earlier.
AIG (AIG), the global insurance and financial services firm, posted first quarter adjusted EPS of 0.11 dollar, significantly missing the consensus, down from 1.58 dollar a year ago. The company is withdrawing previously issued guidance.
Diamondback Energy (FANG), the independent oil and gas producer in the US, disclosed first quarter adjusted EPS of 1.45 dollar, beating estimates, up from 1.39 dollar a year ago on revenue of 899.0 million dollars up from 864.0 million dollars in the prior year.
L Brands (LB), the fashion retailer, reported that it has reached a mutual agreement with private equity firm Sycamore Partners to terminate their previously announced transaction. In April, the company sued to force Sycamore Partners to complete the acquisition of a controlling stake in lingerie brand Victoria's Secret.
Source : TradingVIEW, Gain Capital
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Rising Yields Test Rally Ahead of Nvidia, Fed 8 22 2026
S&P 500, Nasdaq and Dow test key technical levels as momentum fades, raising the risk of a deeper correction heading into a pivotal week.
Magnificent Seven Earnings Preview: Can Big Tech Reclaim AI Leadership?
The Magnificent Seven enter earnings with far more divided performance than in previous years, as investors increasingly distinguish between companies supplying the AI buildout and those funding it - what does that mean heading into earnings season?
USD/JPY unwind accelerates as GPIF headlines spark yen buying
Japanese assets are rallying after the government floated the prospect of the GPIF investing more heavily at home. While the proposal could have significant implications for global capital flows, it does not yet change the broader forces driving Japanese bond yields and USD/JPY.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.