CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

020720 US Pre Open

Article By: ,  Financial Analyst
July 2, 2020 8:52 AM

US Futures green, watch FB, BA, AMZN, TSLA

The S&P 500 Futures  are gaining some ground ahead of a long Independence Day weekend.

Due later today the U.S. Labor Department will release June nonfarm payrolls report and initial jobless claims in the week ended June 27. U.S. unemployment rate is expected to decrease from 13.3% to 12.3%. The Commerce Department will report May trade balance, factory orders and final readings of durable goods orders. 

European indices are on the upside. On the statistical front, in the euro area, the unemployment rate edged up to 7.4% in May compared to 7.3% in April and 7.7% expected. On the other hand, producer prices fell by 0.6% in May after a fall of 2.0% in April. Economists expected a 0.4% decline.

Asian indices ended significantly higher except the Japanese Nikkei which only added 0.11% while China Mainland CSI 300 bounced 2.07%, Australian ASX 200 added 1.66% and Hong Kong HSI soared 2.85%

WTI Crude Oil futures are slightly up as U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.2M barrels from the previous week to 533.5M barrels for week ended June 26. U.S Crude Oil production remains unchanged at 11.0M b/d.

Gold consolidates below eight-year high while the US dollar lost ground as risk appetite grows on positive coronavirus vaccine news.  

Gold rose 3.05 dollars (+0.17%) to 1773.14 dollars.

EUR/USD rose 34pips to 1.1285 while GBP/USD gained 33pips to 1.2508.

US Equity Snapshot


Facebook (FB): according to The Information, Mark Zuckerberg, company's CEO, expects advertisers that currently boycott the social network to be back on the platform "soon enough".

Boeing (BA), the aircraft maker, and the FAA "completed the certification flight tests on the Boeing 737 MAX." The FAA "will lift the grounding order only after its safety experts are satisfied that the aircraft meets certification standards."

Amazon.com's (AMZN), the e-commerce giant, price target was increased to 3,400 dollars from 2,900 dollars at Independent Research.

Tesla's (TSLA), the electric-vehicle maker, price target was raised to 1,250 dollars from 1,000 dollars at Wedbush.

Source : TradingVIEW, Gain Capital


StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024