US Futures still on the upside, watch AMZN, BA, REGN, DIS, DPZ, KEYS

The S&P 500 futures remain well directed, boosted by the potential development of a coronavirus vaccine and further easing of lockdown measures.

FOREX 8

The S&P 500 futures remain well directed as they are boosted by the potential development of a coronavirus vaccine and further easing of lockdown measures in the U.S. and around the world. Biotechnology firm Novavax said on Monday it has started the Phase 1 clinical trial of a novel coronavirus vaccine candidate, making it one of at least 10 now being tested in people globally.

Later today, the U.S. Federal Reserve will release its Beige Book economic report. The Richmond Federal Reserve will post its Manufacturing Activity Index for May (-40 expected). 

European indices are accelerating to the upside as EU Commission has announced it will mobilize 750 billion euros for European recovery. France's INSEE has released May indicators on consumer confidence at 93 (vs 92 expected), business confidence at 70 (vs 69 expected) and manufacturing confidence at 70 (vs 85 expected).

Asian indices closed in the red except the Japanese Nikkei. Japan's government lifted the coronavirus-induced state of emergency that had been in place since April.

WTI Crude Oil Futures remain on the upside on expectations of rising demand amid reopening economies.

Gold fell 8.18$ (-0.48%) to 1702.41, near a two-week low on optimism about economic recovery. 

On the forex front, the US dollar lost ground against the euro after the announcement of the EU Commission stimulus package. EUR/USD rose 42pips to 1.1024.

US Equity Snapshot

 
Amazon (AMZN), the e-commerce giant, might be in advanced talks to buy self-driving vehicle startup Zoox, according to Bloomberg.

Boeing (BA), the aircraft maker, might announce this week deep job cuts, mainly in the Seattle area, according to different reports.

Regeneron (REGN): French pharma Sanofi "has agreed to sell 11.8 million shares of Regeneron, common stock through a registered offering at a price of 515.00 dollars per share."

Walt Disney (DIS), the entertainment and media giant, announced that "Walt Disney World Resort executives will submit today to the Orange County Economic Recovery Task Force in Florida for a phased reopening of the resort’s theme parks."

Domino's Pizza (DPZ), the world leader in pizza delivery, said that for the March, 23 to May, 17 period, or the first eight weeks of its second quarter, global retail sales growth was 2.9%. The company added that "U.S. sales results accelerated materially over weeks five through eight of the second quarter."

Keysight Technologies (KEYS), a provider of electronic measurement devices and software solutions, posted second quarter adjusted EPS of 0.78 dollar, missing estimates, down from 1.22 dollar a year ago, on sales of 895 million dollars, also below consensus, down from 1.1 billion dollars a year earlier.



Source : TradingVIEW, Gain Capital

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.