The S&P 500 futures remain on the upside after they closed higher yesterday.
Later today, the U.S. Labor Department will release August import price index (+0.5% on month expected). The New York Federal Reserve will publish September Empire Manufacturing Index (6.8 expected). The Federal Reserve will report August industrial production (+1.0% on month expected).
European indices are on the upside. ZEW survey results of September were released for Germany at -66.2 for current situation, vs -72.0 expected, and at 77.4 for the expectations, vs 69.5 expected. France's INSEE has posted final readings of August CPI at -0.1% on month, as expected. The U.K. Office for National Statistics has reported jobless rate for the three months to July at 4.1%, as expected.
Asian indices closed in dispersed order. Japanese Nikkei closed in the red when the Chinese CSI closed on the upside. Official data showed that China's industrial production rose 5.6% on year in August (+5.1% expected) and retail sales grew 0.5% (flat expected).
WTI Crude Oil futures are rebounding. OPEC downgraded the outlook for global oil market before an online monitoring meeting on Thursday, amid faltering demand and signs of a recovery of U.S. shale oil supply. Currently, OPEC projected that global oil demand would decrease by 9.46M b/d to 90.23M b/d in 2020. Later today, American Petroleum Institute (API) would release the change of U.S. oil stockpile data for September 11.
Gold rose 7.56$ (+0.39%) to 1964.42 on the way to 2000.
GBP/USD jumped 37pips to 1.2883 as U.K. Prime Minister Boris Johnson's Internal Market Bill, his plan to rewrite part of the Brexit deal, passed its first hurdle in Commons.
U.S. Equity Snapshot
Tiffany (TIF): a judge of the Delaware Court has scheduled a hearing on September 21 to allow the jeweler to plead, under an expedited procedure, its arguments for the French luxury goods giant, LVMH, to complete its merger project.
Nikola (NKLA): the U.S. Securities and Exchange Commission (SEC) announced that it is reviewing the case of the electric truck manufacturer accused by Hindenburg Research of making numerous false statements and assertions about its technology.Lennar (LEN), the home construction company, reported third quarter EPS of 2.12 dollars, beating estimates, on revenue of 5.87 billion dollars, in line with expectations. The stock should nevertheless start the trading session in the red.
Source: GAIN Capital, TradingView
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.