US Futures extending gains, watch CPB, ZM, TWTR, LYFTI, CCL, NCLH
The S&P 500 Futures advance further as expectations of continued economic recovery outweighed impact of violence and looting across the country.
Later today, the Automatic Data Processing (ADP) jobs report is expected to show a reduction of 9.000 million private jobs in May. Also, April Factory Orders (-13.4% on month expected) and Durable Goods Orders (final reading, -17.2% expected) will be reported. The Institute for Supply Management will post its Non-manufacturing Index for May (44.4 expected). Markit May Services PMI is expected at 37.3.
European indices remain on the upside. Research firm Markit has published final readings of May Services PMI for the eurozone at 30.5 (vs 28.7 expected), for Germany at 32.6 (vs 31.4 expected), for France at 31.1 (vs 29.4 expected) and for the U.K. at 29.0 (vs 28.0 expected). The European Commission has posted April jobless rate at (vs 8.2% expected) and PPI at (vs -4.2% on year expected). The German Federal Statistical Office has reported May jobless rate at 6.3% (vs 6.2% expected).
Asian indices closed on a very optimistic mood. This morning, official data showed that the Australian economy grew 1.4% on year as expected.
WTI Crude Oil Futures remain on the upside on rumors that the OPEC would agree for a further output cut.
Gold and US dollar weaken on rallying equities and hopes of economic recovery.
Gold fell 8.38 dollars (-0.48%) to 1719.33 dollars.
EUR/USD rose 22pips to 1.1192 while GBP/USD gained 19pips to 1.257.
Later today, the Automatic Data Processing (ADP) jobs report is expected to show a reduction of 9.000 million private jobs in May. Also, April Factory Orders (-13.4% on month expected) and Durable Goods Orders (final reading, -17.2% expected) will be reported. The Institute for Supply Management will post its Non-manufacturing Index for May (44.4 expected). Markit May Services PMI is expected at 37.3.
European indices remain on the upside. Research firm Markit has published final readings of May Services PMI for the eurozone at 30.5 (vs 28.7 expected), for Germany at 32.6 (vs 31.4 expected), for France at 31.1 (vs 29.4 expected) and for the U.K. at 29.0 (vs 28.0 expected). The European Commission has posted April jobless rate at (vs 8.2% expected) and PPI at (vs -4.2% on year expected). The German Federal Statistical Office has reported May jobless rate at 6.3% (vs 6.2% expected).
Asian indices closed on a very optimistic mood. This morning, official data showed that the Australian economy grew 1.4% on year as expected.
WTI Crude Oil Futures remain on the upside on rumors that the OPEC would agree for a further output cut.
Gold and US dollar weaken on rallying equities and hopes of economic recovery.
Gold fell 8.38 dollars (-0.48%) to 1719.33 dollars.
EUR/USD rose 22pips to 1.1192 while GBP/USD gained 19pips to 1.257.
US Equity Snapshot
Campbell Soup (CPB), a manufacturer of branded food products, raised its fiscal 2020 guidance. The company expects full year adjusted EPS to be 2.87-2.92 dollars vs a previous forecast of 2.55-2.60 dollars, while organic sales are seen up 5.5%-6.5% vs an earlier guidance of down 1%-up 1%. Separately, the company reported third quarter adjusted EPS up 57% to 0.83 dollar on sales up 15% to 2.23 billion dollars. EPS beat estimates while sales missed.
Zoom Video Communications (ZM), a leader in modern enterprise video communications, reported first quarter sales up to 328.2 million dollars from 122 million dollars a year earlier. Adjusted EPS was 0.20 dollar vs 0.03 dollar a year ago. The company lifted its full year forecasts for sales and profit.
Twitter (TWTR), a social networking service provider, announced that appointment of Patrick Pichette, currently an independent director and former Google CFO, as new Chairman.
Lyft (LYFT), the ride-sharing company, gained ground in extended trading after saying that rides on the company's platform in May increased 26% versus April.
Carnival (CCL) and Norwegian Cruise (NCLH), the cruise companies, were both rated "underweight" at Morgan Stanley. Norwegian was downgraded from "equal-weight" while Carnival was reinstated.
Source : TradingVIEW, Gain Capital
Latest market news
Yesterday 01:32 PM
Yesterday 09:35 AM
Yesterday 07:23 AM
Yesterday 04:48 AM
Yesterday 12:17 AM
July 25, 2024 10:39 PM
Latest Equities articles
June 8, 2024 02:00 AM
June 3, 2024 05:56 AM
June 3, 2024 03:34 AM