US Futures sliding, watch AAPL, FB, KMI, D
Jean-Christophe Rolland July 7, 2020 9:54 PM
The S&P 500 Futures are declining following Monday Nasdaq 100 fresh record high close.
The S&P 500 Futures are declining following Monday Nasdaq 100 fresh record high close at 10604.
Today, U.S. Labor Department will report JOLTS job openings for May (4.8 million expected).
European indices are losing more than 1% on average on disappointing eco data releases. European Commission revised down euro-zone 2020 GDP decline from -7.7% to -8.7%. In Germany, industrial production rebounded by 7.8% in May, after a decline of 17.5% (revised from -17.9%) in April. However the market expected an increase of 11.1%.
Asian indices ended mixed, mostly reversing morning trading session gain to losses. The Australian ASX 200 ended flat while the China Mainland CSI 300 added 0.60%, recording a 6-day rally. The Japanese Nikkei eased 0.44% and Hong Kong HSI dropped 1.38%. On the economic data front, the Reserve Bank of Australia kept its main rate unchanged at 0.25%, as expected and Japan's household spending declined 16.2% on year in May (-11.8% expected).
WTI Crude Oil futures declined during Asian trading session as Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe.
Gold is edging down, but remains firm close to a eight-year high on COVID-19 concerns.
Gold fell 7.65 dollars (-0.43%) to 1777.03 dollars.
US dollar consolidates after the release of better than expected US services data.
EUR/USD fell 23pips to 1.1286 while GBP/USD rose 21pips to 1.2513.
US Equity Snapshot
Apple (AAPL), the tech giant, has decided to use OLED screens for entire 5G iPhone range this year, according to Nikkei.
Facebook (FB), the social network, was reiterated "buy" at Goldman Sachs.
Kinder Morgan (KMI), one of the largest midstream energy firms in North America, was downgraded to "sell" from "neutral" by Goldman Sachs.
Dominion Energy (D), an electricity and natural gas supplier, was downgraded to "neutral" from "outperform" at Credit Suisse.
Source : TradingView, Gain Capital
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.