US Futures rising - Watch WMT, AMZN, BA, ORCL, HD

,

The S&P 500 Futures remains on the upside after the Nasdaq 100 Index charged 124 points (+1.11%) higher yesterday

Stocks (2)

The S&P 500 Futures remains on the upside after the Nasdaq 100 Index charged 124 points (+1.11%) higher yesterday to a fresh record close of 11288. The S&P 500 added 9 points (+0.27%) to 3382, just below its record close of 3386 seen in February.

Housing Starts for July (annualized rate rising to 1.24 million units expected) will be reported later today. Building permits are expected at 1.3 million units.

European indices are rebounding after a negative start. It is reported that the British government is hopeful of a post-Brexit trade deal with European Union next month, as the two sides entered their seventh round of negotiations.

Asian indices closed mixed as Japanese Nikkei and Hong Kong HSI lost ground when Chinese CSI and Australian ASX closed in the green. Further limitations on Huawei ability to acquire U.S. technology were implemented by the U.S. government.

WTI Crude Oil futures remain on the upside. The U.S. Energy Information Administration (EIA) projected that the production of U.S. shale oil would fall by 19K b/d to 7.56M b/d in September. Later today, API would release the change of U.S. oil stockpile data for August 14. Russian Energy Minister Novak, tested positive for Covid-19, will join the OPEC meeting by video on Wednesday.

Gold rebounds above 2,000 dollars on US dollar weakness, as the greenback is hurt by lowering yields and weak US data.

Gold rose 22.1 dollars (+1.11%) to 2007.4 dollars while the dollar index fell 0.34pt to 92.515.


U.S. Equity Snapshot


Wal-Mart (WMT), the retailer, is soaring before hours after reporting second quarter adjusted EPS that smashed estimates.


Source: TradingView, GAIN Capital

Amazon.com (AMZN), the e-commerce giant, "announced plans to create 3,500 new tech and corporate jobs across six cities in the United States. The company will expand its Tech Hubs in Dallas, Detroit, Denver, New York (Manhattan), Phoenix, and San Diego. Amazon will invest more than 1.4 billion dollars in these new offices."

Boeing (BA), an aircraft manufacturer, is planning a second round of job cuts this year, according to Bloomberg.

Oracle (ORCL), a computer technology company, may bid for TikTok's U.S. operations, reported the Financial Times.

Home Depot (HD), the home improvement specialty retailer, is gaining ground before hours after posting second quarter comparable sales and EPS that beat forecasts.

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.