190620 US Pre OPen

US Futures green, watch KMX, ULTA

The S&P 500 Futures are on the upside after they closed mixed again yesterday, as investors tried to digest data on rising coronavirus cases and initial jobless claims.

Later today, the U.S. Commerce Department will release 1Q current account balance (102.9 billion dollars deficit expected).

European indices are on the upside as European leaders are negotiating over their 750 billion euros relief package. The German Federal Statistical Office has reported May PPI at -2.2% on year (vs -2.0% expected). The U.K. Office for National Statistics has posted May retail sales at 12.0% (vs 6.3% expected and -18.0% the previous month) and public sector net borrowing excluding banking groups at -54.5 billion pounds (vs -47.3 billion pounds expected).

Asian indices closed in the green. This morning, official data showed that Japan's national CPI grew 0.1% on year in May (+0.2% expected).

WTI Crude Oil Futures are rebounding. Russian Energy Minister Alexander Novak said global oil inventories would fell to a 5-year average level in late 2020 or mid-2021.

Gold remains firm on fears of a second COVID-19 wave. Gold rose 7.77 dollars (+0.45%) to 1730.69 dollars.

The US dollar is set for weekly gain on rising geopolitical tension. The EUR/USD fell 2pip to 1.1203 while GBP/USD declined 50pips to 1.2374.

US Equity Snapshot

CarMax (KMX), a car and light truck retail chain, posted first quarter used vehicle unit comparable store sales down 41.8%. Total sales were down 40% to 3.23 billion dollars, beating estimates. EPS was 0.03 dollar vs 1.59 dollar a year earlier.

Ulta Beauty (ULTA), an operator of a chain of beauty retailers, was upgraded to "overweight" from "equal-weight" at Barclays.

Source : TradingVIEW, Gain Capital

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.

City Index is a trading name of StoneX Financial Pty Ltd.

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs.

While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments.

StoneX recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk, and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets.

It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com/en-au/terms-and-policies/, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. Our Target Market Determination (TMD) is also available at www.cityindex.com/en-au/terms-and-policies/.

StoneX Financial Pty Ltd, Suite 28.01, 264 George Street, Sydney, NSW 2000 (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.