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
✖

19 08 US PRE OPEN

Article By: ,  Financial Analyst
August 19, 2020 8:50 AM

US Futures mixed - Watch JNJ, TGT, LOW, HD, A, CREE

The S&P 500 Futures remain on the upside after the S&P 500 Index added 7 points (+0.23%) to 3389 yesterday, eventually surpassing its February record close of 3386.

Later today, the U.S. Federal Reserve will release its latest FOMC meeting minutes.

European indices are slightly bullish. The U.K. Office for National Statistics has released July CPI at +1.0% (vs +0.6% on year expected). The European Commission has posted final readings of July CPI at +0.4% on year, as expected.

Asian indices closed on a mixed mood as the Hong Kong HSI and the Chinese CSI faced a down move when the Japanese Nikkei and the Australian ASX were up. This morning, official data showed that Japan's exports declined 19.2% on year in July (-20.9% expected), while core machine orders dropped 7.6% on month in June (+2.0% expected).

WTI Crude Oil futures are under pressure. The American Petroleum Institute (API) reported that U.S. crude-oil inventories fell 4.3 million barrels last week. Later today, EIA will release official crude oil inventories data for the same week.

Gold slightly declined below 2000 dollars as the US dollars tries to steady before Fed minutes.

Gold fell 13.02 dollars (-0.65%) to 1989.42 dollars while the dollar index rose 0.03pt to 92.297.


U.S. Equity Snapshot


Johnson & Johnson (JNJ), the health care products company, "entered into a definitive agreement to acquire Momenta (MNTA), a company that discovers and develops novel therapies for immune-mediated diseases, in an all cash transaction of 52.5 dollars per share, or approximately 6.5 billion dollars."

Source: TradingView, GAIN Capital

Target (TGT), the retailer, is expected to soar after reporting quarterly sales that smashed expectations. Second quarter sales jumped 24%, the fastest pace in the company's history. Adjusted EPS also beat forecasts.

Lowe's (LOW), the second-largest home improvement retailer in the US, is gaining ground before hours after posting better than expected quarterly earnings, on surging online sales. 

Home Depot (HD), the home improvement specialty retailer, was upgraded to "buy" from "neutral" at BofA Securities. 

Agilent (A), an international life sciences and diagnostics company, fell after hours on profit taking as the stock was trading close to its all-time highs despites quarterly earnings topping estimates.

Cree (CREE), the semiconductor company, lost ground in extended trading on weak outlook for the current quarter.

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