Futures remain on the upside after they closed higher on Friday. Apple (AAPL +10.47%) gapped up to close at an all-time high of $425.04 after reporting better-than-expected earnings.
Later today, July ISM Manufacturing Index (53.5 expected) and June Construction Spending (+1.0% on month expected) will be reported. Markit Manufacturing PMI will be expected at 51.3.
European indices are bullish. The July Markit Eurozone Manufacturing Purchasing Managers' Index was reported at 51.8, vs 51.1 expected. Also, Markit Manufacturing PMIs were released for Germany at 51.0 (vs 50.0 expected), for the U.K. at 53.3 (vs 53.6 expected), and for France at 52.4 (vs 52.0 expected).
Asian indices closed mixed. The Japanese Nikkei and the Chinese CSI were up when the Australian ASX and the Hong Kong HSI closed in the red. The Chinese July Caixin Manufacturing PMI was released at 52.8, better than 51.3 expected.
WTI Crude Oil futures are under pressure. The number of rigs in the U.S. was unchanged at 251 for week ended July 31, while the amount of rigs in Canada rose by 3 to 45, according to Baker Hughes.
Gold eases after hitting a new record high on COVID-19 fears.
Gold fell 3.87 dollars (-0.2%) to 1971.99 dollars.
The US dollar is rebounding after having posted its weakest month in a decade.
The dollar index rose 0.42pt to 93.766.
U.S. Equity Snapshot
Microsoft (MSFT), the tech giant, confirmed talks to buy TikTok's US operations.
Source: TradingView, Gain CapitalMarathon Petroleum (MPC), a crude oil refining company, announced the sale of its Speedway gas stations in the U.S. to Japan's Seven & i Holdings for 21 billion dollars.
Alphabet (GOOGL): Google announced the acquisition of 6.6% of home and business security company ADT (ADT) for 450 million dollars.
Merck (MRK), the pharma giant, was upgraded to "buy" from "neutral" at Goldman Sachs.
Yum! Brands (YUM), owner of a range of quick-service restaurants, was upgraded to "buy" from "neutral" at Deutsche Bank.
Clorox Company (CLX), a producer of cleaning supplies and other consumer products, is gaining ground before hours after posting quarterly earnings that beat estimates and named a new CEO.
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.