1307 US PRE OPEN

US Futures up, watch, PEP, ADI, AMZN, GOOGL

The S&P 500 Futures remain on the upside after they showed resilience on Friday.

Later today, the U.S. Treasury will release budget statement for June (863 billion dollars deficit expected).

European indices opened on a strong mood but the upside momentum is losing steam as German Minister of Health Spahn said that danger of a second wave Pandemic is real.

Asian indices all ended in the green. Government data showed that China's M2 money supply grew 11.1% on year in June (as expected), while new yuan loans totaled 1,810 billion yuan (1,800 billion yuan expected).

WTI Crude Oil futures are under pressure. The OPEC will launch the 55th edition of its Annual Statistical Bulletin later today.

Gold jumped 9.45 dollars (+0.53%) to 1808.16 dollars.

Gold remains on the upside above 1800 dollars.

The US Dollar is rebounding on second wave concerns. Also, the U.K. is urging businesses and individuals to prepare for the Dec. 31 end of the Brexit transition period.

GBP/USD fell 20pips to 1.2602 the day's range was 1.2601 - 1.2666 compared to 1.2567 - 1.2664 the previous session.

U.S. Equity Snapshot

Pepsico (PEP), the international beverage and food company, posted higher-than-expected revenue in the second quarter during the Covid-19 pandemic at 16 billion dollars. Organic sales fell 0.3%. Net income fell to 1.65 billion dollars, from 2.04 billion dollars in the comparable quarter last year.

Source: TradingView, Gain Capital

Analog Devices (ADI), a manufacturer of analog, mixed signal and digital signal processing chips, announced that it has signed an agreement to acquire Maxim Integrated Products in an all-stock deal. The transaction values the new entity at more than 68 billion dollars, according to both companies. Maxim shareholders will receive 0.63 share of Analog common stock for each Maxim share they hold at the closing of the transaction, which is expected to occur next summer. Both companies manufacture analog semiconductors.

Amazon's (AMZN), the e-commerce giant, price target was raised to 3,430 dollars from 2,500 dollars at Barclays.

Alphabet's (GOOGL), Google's holding company, price target was raised to 1,6000 dollars from 1,400 dollars at Barclays.

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