The S&P 500 Futures are on the downside while Bloomberg reported that the U.S. House Democrats have started making a 2.4 trillion dollars stimulus proposal, which will be discussed with the White House and Senate Republicans.
Later today, the U.S. Commerce Department will report Durable Goods Orders for August (+1.3% on month expected).
European indices are losing 1.5% on average except the FTSE 100 limiting its decline to 0.5% while the GfK household confidence indicator unexpectedly rose from -27 to -25 in September whereas economists expected stability. The surge in coronavirus cases is dominating European debates while the U.K. recorded 6,634 new coronavirus cases on Thursday, the highest daily increase on record, France announced Thursday new restrictions and Spain is expected to do the same on Friday.
Asian indices ended mostly higher except for the Hong Kong HSI losing 0.32%.
WTI Crude Oil futures are trading sideways after Thursday afternoon rally boosted by market optimism. Yet, the International Energy Agency's head of oil markets Neil Atkinson said oil demand forecast is more likely to be downgraded in their next report. Later today, Baker Hughes will report the total number of rig counts for the U.S. and Canada.
Gold is consolidating after a slight rebound as the U.S dollar rally pauses.
Gold fell 8.84 dollars (-0.47%) to 1859.24 dollars while the U.S dollar index rose 0.24pt to 94.594.
U.S. Equity Snapshot
Costco Wholesale (COST), an operator of a chain of warehouse stores, reported fourth quarter EPS of 3.13 dollars, exceeding estimates, up from 2.47 dollars a year ago, on revenue of 53.4 billion dollars, better than expected, up from 47.5 billion dollars a year earlier. Shares lost ground on extended trading on profit taking.
Novavax (NVAX), the biotech, is expected to jump after announcing that "it has initiated its first Phase 3 study to evaluate the efficacy, safety and immunogenicity of its COVID-19 vaccine candidate. The trial is being conducted in the United Kingdom and is expected to enroll and immunize up to 10,000 individuals over the next four to six weeks."
Source: TradingView, GAIN Capital
Apple (AAPL): "the European Commission has decided to appeal before the European Court of Justice the General Court's judgment of July 2020 on the Apple State aid case in Ireland, which annulled the Commission's decision of August 2016 finding that Ireland granted illegal State aid to Apple through selective tax breaks."
Bristol-Myers Squibb (BMY), the pharma, disclosed positive results regarding a phase three trial of a treatment on bladder cancer.
General Mills (GIS), the food company, was upgraded to "outperform" from "neutral" at Credit Suisse.
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.