U.S Futures gaining ground - Watch LEVI, TSLA, UAL

,

The S&P 500 Futures are posting a rebound after they ended in negative territory yesterday

Trading floor 2

The S&P 500 Futures are posting a rebound after they ended in negative territory yesterday. U.S President Donald Trump announced he was halting negotiations with lawmakers on an economic stimulus bill, adding: "Immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business." Thereafter, the market erased earlier gains and took a nosedive about an hour before the close.

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

European indices are consolidating. The German Federal Statistical Office has posted August industrial production at -0.2% (vs +1.5% on month expected).

Asian indices closed on the upside except the Japanese Nikkei which ended slightly in the red.

WTI Crude Oil futures are facing a consolidation. The U.S. Energy Information Administration (EIA) slightly raised 2021 crude oil production forecast to 11.09M b/d from 11.08M b/d, while 2021 crude oil forecast prices is lowered to $44.72 from $45.07 in the previous projection.

Gold slightly rebounds after hitting a one-week low as U.S dollar remains firms on U.S stimulus delay.

Gold rose 7.89 dollars (+0.42%) to 1886.07.

The dollar index gained 0.06pt to 93.747.



U.S. Equity Snapshot


Levi Strauss (LEVI), a designer and seller of a variety of clothing products, reported third quarter adjusted EPS of 0.08 dollar, beating estimates, down from 0.31 dollar a year earlier, on net sales of 1.1 billion dollars, better than expected, down from 1.4 billion dollars a year earlier.


Source: TradingView, GAIN Capital

Tesla (TSLA), the electric-vehicle maker, is in talks with mining company BHP on a nickel-supply deal, according to Bloomberg. 

United Airlines (UAL) was upgraded to "overweight" from "neutral" at JPMorgan.

Gap (GPS), an apparel retailer, was upgraded to "overweight" from "underweight" at Barclays. 

Foot Locker (FL), a global athletic footwear and apparel retailer, was upgraded to "overweight" from "equal-weight" 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.