test 180520
The S&P 500 Futures continue to rebound after they closed slightly higher on Friday despite data showing sharp economic contraction.
Share this:
The S&P 500 Futures continue to rebound after they closed slightly higher on Friday despite data showing sharp economic contraction. On Sunday, Fed Chairman Powell says GDP could shrink more than 30%, but he doesn’t see another Depression.
Later today, the National Association of Home Builders will release Housing Market Index for May (34 expected).
European indices are posting a rebound. Bank of England Chief Economist Andy Haldane said BOE is looking at monetary policy options, including negative interest rates and purchasing riskier financial assets. In the meantime, European Union chief negotiator Michel Barnier said, after the latest round of E.U. and U.K. trade talks, "no progress had been made on the most difficult issues" and he was "still determined but not optimistic."
Asian indices closed in the green except the Chinese CSI. This morning, government data showed that Japan's first quarter annualized GDP declined 3.4% on quarter (-4.5% expected).
WTI Crude Oil Futures remain on the upside. OPEC+ production cut this month could reach 9.7 million barrels per day, nearly 10% of global supplies, according to Bloomberg.
Gold hit its highest level since October 2012 on weak economic data while the US dollar is consolidating as investors assess the effects of gradual reopening economies.
Gold rose 21.25$ (+1.22%) to 1764.92 dollars. The EUR/USD fell 6pips to 1.0814.
USD/CAD dropped 50pips to 1.4059 in boucing oil prices.
Later today, the National Association of Home Builders will release Housing Market Index for May (34 expected).
European indices are posting a rebound. Bank of England Chief Economist Andy Haldane said BOE is looking at monetary policy options, including negative interest rates and purchasing riskier financial assets. In the meantime, European Union chief negotiator Michel Barnier said, after the latest round of E.U. and U.K. trade talks, "no progress had been made on the most difficult issues" and he was "still determined but not optimistic."
Asian indices closed in the green except the Chinese CSI. This morning, government data showed that Japan's first quarter annualized GDP declined 3.4% on quarter (-4.5% expected).
WTI Crude Oil Futures remain on the upside. OPEC+ production cut this month could reach 9.7 million barrels per day, nearly 10% of global supplies, according to Bloomberg.
Gold hit its highest level since October 2012 on weak economic data while the US dollar is consolidating as investors assess the effects of gradual reopening economies.
Gold rose 21.25$ (+1.22%) to 1764.92 dollars. The EUR/USD fell 6pips to 1.0814.
USD/CAD dropped 50pips to 1.4059 in boucing oil prices.
US Equity Snapshot
Goldman Sachs (GS): Warren Buffett's Berkshire Hathaway Inc reported in a securities filing that it had sold over 10 million shares in the banking group, trimming its stake to 1.9 million shares or less than 0.6%.
Alphabet's (GOOGL) Google, a tech giant, could face antitrust suits by the U.S. Justice Department after nearly a year of investigation, reported the Wall Street Journal.
Apple (AAPL), a multinational technology company, has reopened about 100 stores worldwide, according to Bloomberg.
Source : TradingVIEW, Gain Capital
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Rising Yields Test Rally Ahead of Nvidia, Fed 8 22 2026
S&P 500, Nasdaq and Dow test key technical levels as momentum fades, raising the risk of a deeper correction heading into a pivotal week.
Magnificent Seven Earnings Preview: Can Big Tech Reclaim AI Leadership?
The Magnificent Seven enter earnings with far more divided performance than in previous years, as investors increasingly distinguish between companies supplying the AI buildout and those funding it - what does that mean heading into earnings season?
USD/JPY unwind accelerates as GPIF headlines spark yen buying
Japanese assets are rallying after the government floated the prospect of the GPIF investing more heavily at home. While the proposal could have significant implications for global capital flows, it does not yet change the broader forces driving Japanese bond yields and USD/JPY.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.