U.S Futures gaining ground - Watch LEVI, TSLA, UAL

,

The S&P 500 Futures are posting a rebound after they ended in negative territory yesterday

Trading floor 2

The S&P 500 Futures are posting a rebound after they ended in negative territory yesterday. U.S President Donald Trump announced he was halting negotiations with lawmakers on an economic stimulus bill, adding: "Immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business." Thereafter, the market erased earlier gains and took a nosedive about an hour before the close.

Later today, the U.S. Federal Reserve will release its latest FOMC meeting minutes.

European indices are consolidating. The German Federal Statistical Office has posted August industrial production at -0.2% (vs +1.5% on month expected).

Asian indices closed on the upside except the Japanese Nikkei which ended slightly in the red.

WTI Crude Oil futures are facing a consolidation. The U.S. Energy Information Administration (EIA) slightly raised 2021 crude oil production forecast to 11.09M b/d from 11.08M b/d, while 2021 crude oil forecast prices is lowered to $44.72 from $45.07 in the previous projection.

Gold slightly rebounds after hitting a one-week low as U.S dollar remains firms on U.S stimulus delay.

Gold rose 7.89 dollars (+0.42%) to 1886.07.

The dollar index gained 0.06pt to 93.747.



U.S. Equity Snapshot


Levi Strauss (LEVI), a designer and seller of a variety of clothing products, reported third quarter adjusted EPS of 0.08 dollar, beating estimates, down from 0.31 dollar a year earlier, on net sales of 1.1 billion dollars, better than expected, down from 1.4 billion dollars a year earlier.


Source: TradingView, GAIN Capital

Tesla (TSLA), the electric-vehicle maker, is in talks with mining company BHP on a nickel-supply deal, according to Bloomberg. 

United Airlines (UAL) was upgraded to "overweight" from "neutral" at JPMorgan.

Gap (GPS), an apparel retailer, was upgraded to "overweight" from "underweight" at Barclays. 

Foot Locker (FL), a global athletic footwear and apparel retailer, was upgraded to "overweight" from "equal-weight" at Barclays.

More from Equities

From time to time, GAIN Capital Australia 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.