02 10 US PRE OPEN

U.S Futures falling - Watch WMT, NIO, POOL, ETFC

The S&P 500 Futures are under pressure after U.S. President Donald Trump has announced he was tested positive for COVID-19. Separately, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed again to reach an agreement on a coronavirus stimulus package. Meanwhile, the House passed a 2.2-trillion-dollar Democratic coronavirus stimulus plan, which is unlikely to pass through the Republican-held Senate.

Later today, the U.S. Labor Department will report the closely-watched September Jobs Report (a lower addition of +872,000 Nonfarm Payrolls, a lower Jobless Rate of 8.2% expected). Also in the U.S., the University of Michigan's Consumer Sentiment Index for the September (final reading) is expected to rise to 79.0. Factory Orders for August are expected to increase 0.9% on month and Durable Goods Orders (August final reading) are expected to rise 0.4% on month.

European indices are on the downside. In Europe, September Consumer Price Index was released at +0.1%, as expected, vs -0.4% in August. The last phase of Brexit talks should end today. Boris Johnson and EU Commission President Von Der Leyen will hold talk on next steps tomorrow.

Both China and Hong Kong markets remained closed for a holiday. In Japan, the Tokyo Stock Exchange resumed stock trading which was halted for a whole day yesterday due to a technical glitch and closed in the red. Official data showed that Australia's Retail Sales dropped 4.0% in August (-4.2% expected, -3.2% in July).

WTI Crude Oil futures remain on the downside. Later today, Baker Hughes will report the total number of rig counts for the U.S. and Canada.

Gold remains firm above 1900 dollars while the U.S dollar jumps as Trump tests positive to COVID-19.

Gold rose 1.93 dollars (+0.1%) to 1907.94 dollars.

The dollar index gains 0.1pt to 93.813.

U.S. Equity Snapshot

Walmart (WMT), the retailer, agreed to sell a majority stake in its UK retail business Asda to a consortium led by TDR Capital for an enterprise value of 6.8 billion pounds.

Source: TradingView, GAIN Capital

Nio (NIO), the Chinese electric-vehicle maker, posted September deliveries that more than doubled year on year to 4,708 vehicles.

Pool Corp (POOL), the wholesale distributor of swimming pool equipment, parts and supplies, will replace online broker E*Trade (ETFC) in S&P 500 index on October 7th.

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