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
✖

1307 US PRE OPEN

Article By: ,  Financial Analyst
July 13, 2020 9:17 AM

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.



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