The S&P 500 Futures are jumping after they returned to positive territory on Friday.
Later today, the New York Federal Reserve will publish November Empire Manufacturing Index (13.8 expected).
European indices have accelerated on the upside after Moderna announced its Covid-19 vaccine met a 94.5% efficacity during its Phase-3 study.
Asian indices ended on a strong advance. Earlier today, government data showed that China's industrial production grew 6.9% on year in October (+6.7% expected). Japan's 3Q annualized GDP rose 21.4% on quarter (+18.9% expected).
WTI Crude Oil is rebounding. The total number of rotary rigs in the U.S. rose to 312 as of November 13 from 300 in the prior week, and rigs in Canada increased to 89 from 86, according to Baker Hughes.
U.S indices closed up on Friday, lifted by Energy (+3.81%), Automobiles & Components (+3.57%) and Consumer Durables & Apparel (+2.36%) sectors.Approximately 82% of stocks in the S&P 500 Index were trading above their 200-day moving average and 80% were trading above their 20-day moving average. The VIX Index dropped 2.22pts (-8.76%) to 23.13, while Gold gained $11.13 (+0.59%) to $1887.95, and WTI Crude Oil fell $1.01 (-2.46%) to $40.11 at the close.
On the US economic data front, the Producer Price Index Final Demand rose 0.3% on month in October (+0.2% expected), compared to +0.4% in September. Finally, the University of Michigan's Consumer Sentiment Index unexpectedly fell to 77.0 on month in the November preliminary reading (82.0 expected), from 81.8 in the October final reading.
Gold rose 3.42 dollars (+0.18%) to 1892.63 on easing U.S dollar as U.S coronavirus cases continue to climb.The dollar index fell 0.09pt to 92.668
EUR/USD rose 6pips to 1.184 while GBP/USD gained 13pips to 1.3202 on hopes for compromize regarding Brexit talks.
U.S. Equity Snapshot
Source: TradingView, GAIN Capital
PNC Financial Services Group (PNC), a bank holding company, has agreed to acquire Spanish bank BBVA's U.S. business BBVA USA Bancshares for a purchase price of 11.6 billion dollars.
Simon Property Group (SPG), a commercial real estate company, agreed to pay 43.00 dollars per share to acquire Taubman Centers (TCO), down from 52.20 dollars per share originally.
JD.com (JD), the chinese e-commerce company, reporting better than expected quarterly sales up 29% to 26.5 billion dollars.
Tilray (TLRY), the pharmaceutical company, was downgraded to "underperform" from "hold" at Jefferies.
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.