The S&P 500 Futures are consolidating after they closed higher on Tuesday.
Later today, the Automatic Data Processing (ADP) will post private jobs for November (+0.43 million jobs expected). The Federal Reserve will release its economic report, the Beige Book.
European indices are trying to rebound after a negative open. Pfizer/Biontech Covid-19 vaccine was approved for use in UK and will be available from next week. The German Federal Statistical Office has released October retail sales at +2.6% (vs +1.2% on month expected). The European Commission has posted October PPI at +0.4% (vs +0.2% on month expected) and jobless rate at 8.4%, as expected.
Asian indices closed unchanged. Official data showed that Australia's 3Q GDP fell 3.8% on year, while a 4.4% decline was expected.
WTI Crude Oil is consolidating. The American Petroleum Institute (API) reported that U.S. crude-oil inventories increased 4.15 million barrels in the week ending Nov. 27 (-2.36 million barrels expected). Later today, the International Energy Agency (EIA) will release official crude oil inventories data for the same week (-2.358M expected).
U.S indices closed up on Tuesday, lifted by Technology Hardware & Equipment (+2.65%), Insurance (+2.3%) and Media (+2.27%) sectors.
Approximately 91% of stocks in the S&P 500 Index were trading above their 200-day moving average and 78% were trading above their 20-day moving average. The VIX Index rose 0.2pt (+0.97%) to 20.77 at the close.On the U.S economic data front, Markit's US Manufacturing Purchasing Managers' Index remained at 56.7 on month in the November final reading (as expected), in line with the November preliminary reading. Finally, Construction Spending rose 1.3% on month in October (+0.8% expected), compared to a revised -0.5% in September.
Gold gains ground as the U.S dollar remains weak on U.S stimulus talks.
Gold rose 8.38 dollars (+0.46%) to 1823.62 dollars.
The dollar index gained 0.1pt to 91.413, slightly rebounding after having hit its lowest level since late April 2018.
U.S. Equity Snapshot
Pfizer (PFE) and BioNTech (BNTX), the pharma, "announced that the Medicines & Healthcare Products Regulatory Agency (MHRA) in the U.K. has granted a temporary authorization for emergency use for their COVID-19 mRNA vaccine (BNT162b2), against COVID-19."
Source: TradingView, GAIN Capital
Salesforce.com (CRM), a developer of business software, revealed that it will acquire Slack Technologies (WORK), the collaboration hub, for 27.7 billion dollars. Separately, the company reported third quarter adjusted EPS of 1.74 dollar, up from 0.75 dollar a year ago on revenue of 5.4 billion dollars, up from 4.5 billion dollars a year earlier.Hewlett Packard Enterprise (HPE), a supplier of information technology products and services, raised its full year 2021 adjusted EPS guidance to 1.60-1.78 dollar vs 1.56-1.76 dollar previously.
NetApp (NTAP), a leading provider of data management and storage solutions, announced second quarter adjusted EPS of 1.05 dollar, beating estimates, down from 1.09 dollar a year ago on net sales flat at 1.4 billion dollars, better than expected.
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.