U.S Futures mixed - Watch AMZN, BA, BYND, LLY, LOW


The S&P 500 Futures are facing a consolidation after they ended on a big up move yesterday

Trading floor 2

The S&P 500 Futures are facing a consolidation after they ended on a big up move yesterday, boosted by the fact that a Covid-19 vaccine being developed by Pfizer and BioNTech was found to be over 90% effective.

Later today, the Labor Department will release JOLTS job openings for September (6.5 million expected). The National Federation of Independent Business will post its Small Business Optimism Index for October (104.4 expected).

European indices are mixed. ZEW survey results of November were released for Germany (current situation at -64.3 vs -63.5 expected, expectations at 39.0 vs 44.3 expected). France's INSEE has reported 3Q ILO jobless rate at 9% (vs 7.5% expected) and September industrial production at +1.4% (vs +0.7% on month expected). The U.K. Office for National Statistics has posted jobless rate for the three months to September at 4.8%, as expected.

Asian indices ended in the green except the Chinese CSI. This morning, official data showed that China's CPI grew 0.5% on year in October (+0.8% expected) while PPI dropped 2.1% (-1.9% expected). Also, Chines vaccine trial in Brazil was halted after a serious adverse event.

WTI Crude Oil remains bullish after a strong up move yesterday. Later today, American Petroleum Institute (API) will release the change of U.S. oil stockpile data for November 6.

US indices closed mixed on Monday with the Dow Jones (+2.95%) and S&P 500 (+1.17%) closing up, while the Nasdaq (-1.53%) closed down. Energy (+14.22%), Banks (+13.2%) and Insurance (+5.63%) sectors were the best performers on the day, while Retailing (-3.3%), Household & Personal Products (-3.1%) and Semiconductors & Semiconductor Equipment (-1.83%) sectors were the worst performers.

Approximately 72% of stocks in the S&P 500 Index were trading above their 200-day moving average and 62% were trading above their 20-day moving average. The VIX Index rose 0.89pt (+3.58%) to 25.75 and WTI Crude Oil jumped $2.82 (+7.59%) to $39.96 at the close.

On the US economic data front, no major economic data was released. In other news, over the weekend Democratic Presidential nominee Joe Biden declared victory in the 2020 Presidential election.

Gold climbs while the U.S dollar consolidates as central banks are expected to keep an accommodative tone.

Gold rose 15.38 dollars (+0.83%) to 1878.42 dollars.

The dollar index is little changed at 92.816.

U.S. Equity Snapshot

Amazon.com (AMZN), the e-commerce giant, faces new European Union charges over the company's sales practice.

Source: TradingView, GAIN Capital

Boeing (BA), the aircraft maker, is gaining ground premarket after Reuters reported that the FAA may lift 737 MAX grounding order as early as next week.

Beyond Meat (BYND), a producer of plant-based meat substitutes, tumbled in extended trading after announcing third quarter adjusted LPS of 0.28 dollar, below forecasts, vs an EPS 0.07 dollar a year earlier on net revenue of 94.4 million dollars, worse than expected, up from 92.0 million dollars a year ago.

Eli Lilly (LLY), a developer and producer of pharmaceuticals, popped post market as its "neutralizing antibody bamlanivimab (LY-CoV555) received FDA emergency use authorization for the treatment of recently diagnosed COVID-19 "

Lowe's (LOW), home improvement retailer, denied a Bloomberg report saying that the company might be in talks to buy industrial distributor HD Supply (HDS). 

Adobe (ADBE), a developer of software products, "has entered into a definitive agreement to acquire Workfront, the leading work management platform for marketers, for 1.5 billion dollars."

Novavax (NVAX), the drugmaker, slipped after hours as quarterly earnings missed estimates.

Nikola (NKLA), the hydrogen-electric vehicles maker, gained ground after hours after posting a lower than expected third quarter adjusted LPS.

Take-Two Interactive Software (TTWO), a leading global video game publisher, agreed to buy UK game maker Codemasters Group for about 956 million dollars. 

Simon Property (SPG), the largest retail center real estate investment firm in the U.S., reported third quarter EPS of 0.48 dollar, significantly missing estimates, down from 1.74 dollar a year ago.

Occidental Petroleum (OXY), an energy exploration and production company, disclosed third quarter adjusted LPS of 0.84 dollar, more than expected, vs an EPS of 0.11 dollar a year ago, on revenue of 3.0 billion dollars, below forecasts, down from 4.5 billion dollars a year earlier.

Norwegian Cruise Line (NCLH), the third largest cruise company in the world, unveiled third quarter adjusted LPS of 2.35 dollars, missing the consensus, vs an EPS of 2.23 dollars a year ago on revenue of 6.5 million dollars, lower than projected, down from 1.9 billion dollars a year earlier.

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.

Open an Account