11 11 US PRE OPEN

U.S Futures up - Watch LYFT, BA, CVS

The S&P 500 Futures are on the upside after they closed mixed yesterday as the Dow Jones Industrial Average advanced a further 0.90% while the Nasdaq 100 shed another 1.74%.

No major economic data are expected today.

European indices remain on the upside.

Asian indices ended on a positive note except the Chinese CSI. The Reserve Bank of New Zealand kept its benchmark rate unchanged at 0.25% as expected. RBNZ said additional stimulus would be provided through a Funding for Lending Programme (FLP), commencing in December, and "monetary policy will need to remain stimulatory for a long time".

WTI Crude Oil remains strongly bullish. The American Petroleum Institute (API) reported that U.S. crude-oil inventories dropped 5.1M barrels in the week ending November 6. The U.S. Energy Information Administration (EIA) projected that 2021 WTI Crude Oil forecast price would be $44.24/bbl, down from $44.72 in the previous estimation. The global oil demand for 2021 lowered to 98.80M b/d from 99.09M b/d, while global supply is also down to 94.58M b/d from 98.83M b/d. Later today, EIA will release official crude oil inventories data for week ending November 6.

US indices closed mixed on Tuesday with the Dow Jones (+0.90%) closing up, while the Nasdaq (-1.37%) and S&P 500 (-0.14%) closed down. Automobiles & Components (+3.48%), Energy (+2.52%) and Food, Beverage & Tobacco (+2.4%) sectors were the best performers on the day, while Semiconductors & Semiconductor Equipment (-3.43%), Software & Services (-2.36%) and Retailing (-1.62%) sectors were the worst performers.

Approximately 82% of stocks in the S&P 500 Index were trading above their 200-day moving average and 78% were trading above their 20-day moving average. The VIX Index dropped 1.23pt (-4.78%) to 24.52 and WTI Crude Oil gained $1.09 (+2.71%) to $41.38 at the close.

On the US economic data front, the National Federation of Independent Business's Small Business Optimism Index remained unchanged at 104.0 on month in October (104.1 expected), in line with September. Finally, U.S. Job Openings rose to 6.436 million on month in September (6.500 million expected), compared to a revised 6.352 million in August.

Gold loses ground as the U.S dollar remains firm on return for risk appetite.

Gold fell 1.48 dollar (-0.08%) to 1875.85 dollars.

The dollar index rose 0.26pt to 93.011.

U.S. Equity Snapshot

Lyft (LYFT), the ridesharing company, jumped after hours after reporting third quarter sales of 499.7 million dollars, above forecasts, down from 955.6 million dollars last year. LPS was 1.46 dollar, worse than expected, vs a LPS of 0.41 dollar a year ago. The company expects Ebitda to be positive by the fourth quarter of 2021.

Source: TradingView, GAIN Capital

Boeing (BA) won a 9.8 billion dollars contract from the Pentagon regarding F-15 support for Saudi Arabia.

CVS Health's (CVS), the pharmacy and healthcare company, price target was raised to 76 dollars from 72 dollars at Piper Sandler.

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

StoneX Financial Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.cityindex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.

ALL TRADING INVOLVES RISKS. LOSSES CAN EXCEED DEPOSITS.

City Index is a trading name of StoneX Financial Pte. Ltd. (“SFP”) for the offering of dealing services in Contracts for Differences (“CFD”). SFP holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore for Dealing in Exchange-Traded Derivatives Contracts, Over-the-Counter Derivatives Contracts, and Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading. SFP is also both Derivatives Trading and Clearing member of the Singapore Exchange (“SGX”). SFP is a wholly-owned subsidiary of StoneX Group Inc.

The information provided herein is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to invest, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk.

The information does not represent an offer of, or solicitation for, a transaction in any investment product. Any views and opinions expressed may be changed without an update. To understand the risks and costs involved, please visit the section captioned “Important Information” and the “Risk Disclosure Statement”.

The information herein is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation.

StoneX Financial Pte. Ltd. 1 Raffles Place, #18-61, One Raffles Place Tower 2, Singapore 048616. Tel: 6309 1000. Co. Reg. No.: 201130598R.

This advertisement has not been reviewed by the Monetary Authority of Singapore.