U.S Futures rising - Watch BMY, MYOK, REGN, IBM, T

,

The S&P 500 Futures are rebounding after they ended in the red on Friday

Trading floor 2

The S&P 500 Futures are rebounding after they ended in the red on Friday. On Sunday, Trump's medical team revealed that he could be discharged from hospital on Monday the soonest.

Later today, the Institute for Supply Management will post September Services PMI (56.2 expected). Research firm Markit will unveil the final readings of September Services PMI is expected at 54.6.

European indices are on the upside. Research firm Markit has published final readings of September Services PMI for the eurozone at 48.0 (vs 47.6 expected), for Germany at 50.6 (vs 49.1 expected), for France at 47.5 (vs 47.5 expected) and for the U.K. at 56.1 (vs 55.1 expected). The eurozone's August retail sales rose +4.4% on month (vs +2.5% expected).

Asian indices ended in the green except the Chinese CSI which remains closed for holidays until Thursday. Australia's NAB Business Confidence Index improved to -4 in September from -8 in August.

WTI Crude Oil futures are rebounding. Saudi Arabia's oil production totaled 8.974 million b/d in September, compared with 8.988 million b/d in August, reported Bloomberg citing an industry official.

Gold and the U.S dollar are steady as investors eyes Trump's health news.

Gold fell 0.98 dollar (-0.05%) to 1898.86 dollars.

The dollar index declined 0.23pt to 93.613.


U.S. Equity Snapshot


Bristol-Myers Squibb (BMY), the biopharma company, and MyoKardia (MYOK) "announced a definitive merger agreement under which Bristol Myers Squibb will acquire MyoKardia for 13.1 billion dollars, or 225 dollars per share in cash. The transaction was unanimously approved by both the Bristol Myers Squibb and MyoKardia Boards of Directors and is anticipated to close during the fourth quarter of 2020."


Source: TradingView, GAIN Capital

Regeneron Pharmaceuticals (REGN), the pharma, is soaring before hours as shares were upgraded to "overweight" from "neutral" at Cantor. 

IBM (IBM), an IT company, announced that Bank of Thailand (BOT), the central bank, has successfully launched the world's first blockchain-based platform for government savings bonds issuing a total of 1.6 billion dollars within two weeks.

AT&T (T), one of the largest wireless communication carriers in the U.S., was downgraded to "underweight" from "sector weight" at Keybanc.

More from Equities

Disclaimer

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.

Important Notice:

Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.