US Futures green again, watch ORCL, AMZN, GRPN

The S&P 500 Futures remain on the upside after they advanced further yesterday, as investors were encouraged by upbeat retail sales.

FOREX 8

The S&P 500 Futures remain on the upside after they advanced further yesterday, as investors were encouraged by upbeat retail sales readings and a news report of a potential one-trillion-dollar infrastructure plan by the government. Meanwhile, Federal Reserve Chairman Jerome Powell told the Senate Banking Committee: "Until the public is confident that the disease is contained, a full recovery is unlikely."

Later today, the U.S. Federal Chairman Jerome Powell will testify before the House Financial Services Committee. The U.S. Commerce Department will report May housing starts (1.10 million units expected) and building permits (1.25 million units expected). 

European markets are searching for a trend after a positive opening. The European Commission has posted final readings of May CPI at +0.1% on year (vs +0.3% in April). The U.K. Office for National Statistics has released May CPI at +0.5% on year, as expected.

Asian indices closed on a mixed mood. This morning, government data showed that Japan's exports decline 28.3% on year in May (-26.1% expected) and imports sank 26.2% (-20.4% expected),

WTI Crude Oil Futures are under pressure. The American Petroleum Institute (API) reported that U.S. crude oil stockpile rose 3.9M barrels for week ended June 12. International Energy Agency projected that global oil demand would bounce by 5.7M b/d to 97.4M b/d in 2021.

Gold consolidates as the US dollar gains ground on strong US retail sales. 

Gold fell 7.28 dollars (-0.42%) to 1719.26 dollars. 

EUR/USD declined 17pips to 1.1247 while GBP/USD fell 11pips to 1.2562.

US Equity Snapshot

 

Oracle (ORCL), an information technology and software company, dropped in extended trading after posting worse than expected fourth quarter sales of 10.4 billion dollars, down from 11.1 billion dollars a year earlier. Adjusted EPS increased to 1.20 dollar from 1.16 dollar a year ago, exceeding estimates.

Amazon.com (AMZN), the e-commerce giant, was rated "buy" in a new coverage at Needham.

Groupon (GRPN), the mobile and online marketplace, unveiled first quarter adjusted LPS of 1.63 dollar vs an EPS of 0.58 dollar a year earlier. Sales fell 35% to 374.2 million dollars. Those figures beat estimates, sending the shares higher after hours. The company said it is "encouraged by recent performance trends that indicate our business is recovering more quickly than we expected."

H&R Block (HRB), a provider of tax return services, reported fourth quarter adjusted EPS of 3.01 dollars, better than expected, vs 4.39 dollars a year earlier. Sales fell to 1.81 billion dollars from 2.3 billion dollars a year ago.

Norwegian Cruise Line (NCLH), a leading global cruise company, tanked in extended trading after announcing "an extension of its previously announced suspension of global cruise voyages to include all voyages embarking between August 1 and September 30, 2020 for its three cruise brands."

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.