US Futures sliding, watch AAPL, FB, KMI, D

The S&P 500 Futures are declining following Monday Nasdaq 100 fresh record high close.

FOREX 8

The S&P 500 Futures are declining following Monday Nasdaq 100 fresh record high close at 10604.

Today, U.S. Labor Department will report JOLTS job openings for May (4.8 million expected).

European indices are losing more than 1% on average on disappointing eco data releases. European Commission revised down euro-zone 2020 GDP decline from -7.7% to -8.7%. In Germany, industrial production rebounded by 7.8% in May, after a decline of 17.5% (revised from -17.9%) in April. However the market expected an increase of 11.1%.

Asian indices ended mixed, mostly reversing morning trading session gain to losses. The Australian ASX 200 ended flat while the China Mainland CSI 300 added 0.60%, recording a 6-day rally. The Japanese Nikkei eased 0.44% and Hong Kong HSI dropped 1.38%. On the economic data front, the Reserve Bank of Australia kept its main rate unchanged at 0.25%, as expected and Japan's household spending declined 16.2% on year in May (-11.8% expected).

WTI Crude Oil futures declined during Asian trading session as Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe.

Gold is edging down, but remains firm close to a eight-year high on COVID-19 concerns.

Gold fell 7.65 dollars (-0.43%) to 1777.03 dollars.

US dollar consolidates after the release of better than expected US services data. 

EUR/USD fell 23pips to 1.1286 while GBP/USD rose 21pips to 1.2513.

US Equity Snapshot



Apple (AAPL), the tech giant, has decided to use OLED screens for entire 5G iPhone range this year, according to Nikkei.

Facebook (FB), the social network, was reiterated "buy" at Goldman Sachs.

Kinder Morgan (KMI), one of the largest midstream energy firms in North America, was downgraded to "sell" from "neutral" by Goldman Sachs.

Dominion Energy (D), an electricity and natural gas supplier, was downgraded to "neutral" from "outperform" at Credit Suisse.

Source : TradingView, Gain Capital


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.