U.S Futures attempt to rebound - Watch TSLA, AMZN, CMSCA

,

The S&P 500 Futures are recovering from Monday decline

Trading floor 3

The S&P 500 Futures are recovering from Monday decline when the Dow Jones Industrial Average once tumbled over 900 points before reducing its loss to 509 points (-1.84%) and closing at 27147. The S&P 500 sank 38 points (-1.16%) to 3281, while the Nasdaq 100 managed to close 43 points higher (+0.40%) at 10980. The market sell-off was triggered by growing concerns over further coronavirus-related shutdowns in Europe and uncertainty surrounding the U.S. election added to pressure on stocks.

Later today, the National Association of Realtors will release August existing home sales (6.01 million units expected). The Richmond Federal Reserve will post its Manufacturing Index for September (12 expected).
 
European indices are rebounding as the U.K government asked "If it is possible for people to work from home, then we’d encourage them to do so, adding: "No one underestimates the challenges the new measures will pose to many individuals and businesses (...) We know this won’t be easy, but we must take further action to control the resurgence in cases of the virus." Bank of England Governor Andrew Bailey said the central bank is considering cutting interest rates, while technical work on negative rates will need some more time.

Asian indices further extended Monday correction. Japan’s markets remain closed since last week as Tuesday was a bank holiday celebrating the Autumnal Equinox Day.

WTI Crude Oil futures are testing the $40 threshold as US API stock change will be released later today.

Gold still loses ground as US dollar consolidates after reaching a six-week high on tumbling stock markets.

Gold fell 7.66$ (-0.4%) to 1904.85 dollars while the dollar index declined 0.08pt to 93.575.


U.S. Equity Snapshot


Tesla (TSLA), the electric-vehicle maker, lost ground in extended trading after CEO Elon Musk tweeted regarding battery day that "what we announce will not reach serious high-volume production until 2022."


Source: TradingView, GAIN Capital

Amazon.com (AMZN), the e-commerce giant, is gaining ground before hours after the stock was upgraded to "outperform" from "market perform" at Bernstein. 

Comcast's (CMCSA) shares might be active after Trian Fund Management said it bought a stake in the media company. 

AutoZone (AZO), the leading retailer and distributor of automotive replacement parts and accessories in the U.S., reported fourth quarter comparable sales up 21.8%, above estimates.

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.