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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.
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04 08 US PRE OPEN

Article By: ,  Financial Analyst
August 4, 2020 9:13 AM

US Futures consolidate - Watch TTWO, AIG, NIO

The S&P 500 Futures are facing a consolidation after they advanced further yesterday. Market sentiment was boosted by upbeat U.S. manufacturing data and merger & acquisition deals.

Later today, June Factory Orders (+5.0% on month expected) and Durable Goods Orders (June final reading +7.3% on month expected) will be reported.

European indices are under pressure. The Eurozone's June Producer Price Index was reported at +0.7% (vs +0.6% on month expected).

Asian indices closed well on the upside. This morning, Tokyo's July Core CPI growth was reported at +0.4% on year (+0.1% expected). Also, and as expected, Australia's central bank kept its key interest rate unchanged at 0.25%. Official data showed that Australia's June Retail Sales grew 2.7% on month (+2.4% expected) and Exports increased 3% (+4% expected).

WTI Crude Oil futures are on the downside. Later today, API would release the change of U.S. oil stockpile data for July 31 (vs -6.829M barrel previously).

Gold consolidates but remains firm close to all-time high as COVID-19 fears persist.

Gold fell 2.24 dollars (-0.11%) to 1974.74 dollars.

The US dollar consolidates on talks regarding new stimulus bill.

The dollar index is nearly flat at 93.55.


U.S. Equity Snapshot

Take-Two Interactive Software Inc (TTWO), a leading global video game publisher, is expected to gain ground after hitting an all-time high yesterday as the company reported first quarter adjusted EPS of 2.30 dollars, above estimates, on revenue up to 831.3 million dollars compared to 422 million dollars a year ago. The Co raised its full-year outlook amid a demand surge for gaming during the coronavirus pandemic.


Source: TradingView, Gain Capital 

AIG (AIG), a global insurance and financial services firm, reported second quarter loss of 7.94 billion dollars, or 9.15 dollars a share, from a profit of 1.1 billion dollars, or 1.24 dollar a share a year earlier. On an adjusted basis, EPS was 0.66 dollar, better than expected, vs 1.43 dollar a year ago.

Nio (NIO), the electric-vehicle marker, is climbing before hours as July car deliveries jumped 322%.

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