U.S Futures consolidating - Watch PFE, BNTX, CRM, WORK, HPE

,

The S&P 500 Futures are consolidating after they closed higher on Tuesday

Trading floor 3

The S&P 500 Futures are consolidating after they closed higher on Tuesday.

Later today, the Automatic Data Processing (ADP) will post private jobs for November (+0.43 million jobs expected). The Federal Reserve will release its economic report, the Beige Book.

European indices are trying to rebound after a negative open. Pfizer/Biontech Covid-19 vaccine was approved for use in UK and will be available from next week. The German Federal Statistical Office has released October retail sales at +2.6% (vs +1.2% on month expected). The European Commission has posted October PPI at +0.4% (vs +0.2% on month expected) and jobless rate at 8.4%, as expected.

Asian indices closed unchanged. Official data showed that Australia's 3Q GDP fell 3.8% on year, while a 4.4% decline was expected.

WTI Crude Oil is consolidating. The American Petroleum Institute (API) reported that U.S. crude-oil inventories increased 4.15 million barrels in the week ending Nov. 27 (-2.36 million barrels expected). Later today, the International Energy Agency (EIA) will release official crude oil inventories data for the same week (-2.358M expected).

U.S indices closed up on Tuesday, lifted by Technology Hardware & Equipment (+2.65%), Insurance (+2.3%) and Media (+2.27%) sectors.

Approximately 91% of stocks in the S&P 500 Index were trading above their 200-day moving average and 78% were trading above their 20-day moving average. The VIX Index rose 0.2pt (+0.97%) to 20.77 at the close.

On the U.S economic data front, Markit's US Manufacturing Purchasing Managers' Index remained at 56.7 on month in the November final reading (as expected), in line with the November preliminary reading. Finally, Construction Spending rose 1.3% on month in October (+0.8% expected), compared to a revised -0.5% in September.   

Gold gains ground as the U.S dollar remains weak on U.S stimulus talks.

Gold rose 8.38 dollars (+0.46%) to 1823.62 dollars.

The dollar index gained 0.1pt to 91.413, slightly rebounding after having hit its lowest level since late April 2018.


U.S. Equity Snapshot


Pfizer (PFE) and BioNTech (BNTX), the pharma, "announced that the Medicines & Healthcare Products Regulatory Agency (MHRA) in the U.K. has granted a temporary authorization for emergency use for their COVID-19 mRNA vaccine (BNT162b2), against COVID-19." 


Source: TradingView, GAIN Capital

Salesforce.com (CRM), a developer of business software, revealed that it will acquire Slack Technologies (WORK), the collaboration hub, for 27.7 billion dollars. Separately, the company reported third quarter adjusted EPS of 1.74 dollar, up from 0.75 dollar a year ago on revenue of 5.4 billion dollars, up from 4.5 billion dollars a year earlier.

Hewlett Packard Enterprise (HPE), a supplier of information technology products and services, raised its full year 2021 adjusted EPS guidance to 1.60-1.78 dollar vs 1.56-1.76 dollar previously.

NetApp (NTAP), a leading provider of data management and storage solutions, announced second quarter adjusted EPS of 1.05 dollar, beating estimates, down from 1.09 dollar a year ago on net sales flat at 1.4 billion dollars, better than expected.

More from Equities

From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. 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. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.