U.S Futures consolidating - Watch SPGI, INFO, MRNA, GS


The S&P 500 Futures are mixed after they closed higher on Friday

Trading floor 2

The S&P 500 Futures are mixed after they closed higher on Friday.

Later today, the Market News International will release Chicago PMI for November (59.2 expected). The National Association of Realtors will post October pending home sales (+1.0% on month expected). The Dallas Federal Reserve will post its Manufacturing Outlook Index for November (14.5 expected).

European indices have rebounded after a negative open. The Bank of England has released the number of mortgage approvals for October at 97,500 (vs 84,000 expected). The German Federal Statistical Office will post November CPI (-0.1% on year expected).

Asian indices all closed in the red. Japan's industrial production rose 3.8% on month in October (+2.2% expected), and retail sales grew 0.4% (+0.5% expected). China's official Manufacturing PMI rose to 52.1 in November (51.5 expected) from 51.4 in October and Non-manufacturing PMI climbed to 56.4 (56.0 expected) from 56.2.

WTI Crude Oil is on the downside. Over the weekend, OPEC+ ministers failed to reach an agreement on oil output decision in an informal online meeting, as the United Arab Emirates and Kazakhstan were opposed to delay a production increase in January, according to Bloomberg.

U.S indices closed up on Friday, lifted by Pharmaceuticals, Biotechnology & Life Sciences (+0.97%), Health Care Equipment & Services (+0.94%) and Semiconductors & Semiconductor Equipment (+0.79%) sectors.

Approximately 91% of stocks in the S&P 500 Index were trading above their 200-day moving average and 82% were trading above their 20-day moving average. The VIX Index fell 0.41pt (-1.93%) to 20.84.

On the U.S economic data front, no major economic data was released.

On Monday, Market News International's Chicago Business Barometer for November is expected to fall to 59.0 on month, from 61.1 in October. Finally, Pending Homes Sales for October are expected to rise 1.0% on month, compared to -2.2% in September.

Gold sets for its worst month in four years on equities rally while the U.S dollar hit a more than two-year low on stimulus bets.

Gold fell 15.55 dollars (-0.87%) to 1772.24 dollars.

The dollar index declined 0.19pt to 91.604.

U.S. Equity Snapshot

S&P Global (SPGI), the financial information services company, agreed to acquire peer IHS Markit (INFO), for about 44 billion dollars. S&P offers 0.2838 shares for each IHS Markit share, or 4 4.7% premium over November 27th, 2020, close.

Source: TradingView, GAIN Capital

Moderna (MRNA), the biotech, announced "that its vaccine efficacy against COVID-19 was 94.1%. The company plans to request today an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) and conditional approval from the European Medicines Agency (EMA)." 

Goldman Sachs (GS), the banking group, was downgraded to "underweight" from "equalweight" at Morgan Stanley.

JPMorgan (JPM) and Bank of America (BAC), the banking groups, were both downgraded to "underweight" from "overweight" at Morgan Stanley. 

Apple (AAPL), the tech giant, was upgraded to "buy" from "hold" at Loop Capital.

Slack Technologies (WORK), the collaboration hub, was downgraded to "equalweight" from "overweight" at Barclays.

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