US Futures flat - Watch SPG, AAPL, TWTR, BRK-A, FDX, PINS

,

The S&P 500 Futures remain flat after they closed mixed on Friday despite a better-than-expected jobs report

Stocks (2)

The S&P 500 Futures remain flat after they closed mixed on Friday despite a better-than-expected jobs report. Market sentiment remained muted amid heightened tensions between the U.S. and China. U.S. President Donald Trump ordered a ban on "transactions" with the Chinese owners of the consumer apps TikTok and WeChat, effectively banning both apps in the U.S. On Saturday, U.S. President Donald Trump signed executive actions to extend economic aids to Americans affected by the coronavirus pandemic after negotiations at Congress broke down. The aids include jobless benefits at $400 per week.

Later today, the U.S. Labor Department will report JOLTS job openings for June (5.3 million expected).

European indices are reversing down after a positive opening. The eurozone Sentix Investor Confidence Index for August was released at -13.4 (vs -16.0 expected). The Bank of France posted Business Industry Sentiment Indicator for July at 99 (vs 92 expected).

Asian indices closed in the red except the Australian ASX. This morning, official data showed that China's CPI grew 2.7% on year in July (+2.6% expected), while PPI dropped 2.4% (-2.5% expected). Japan market was closed for Mountain Day.

WTI Crude Oil futures are rebounding. The total number of oils rigs operating in the U.S. on August 7 fell to a 15-year low at 176 from 180 a week ago, while rigs in Canada increased to 47 from 45, according to Baker Hughes.

Gold consolidates as the US dollar maintains its gains following strong US jobs data.

Gold fell 4.18 dollars (-0.21%) to 2031.37 dollars while the dollar index rose 0.14pt to 93.576.

U.S. Equity Snapshot

Simon Property (SPG), a malls owner, and Amazon.com (AMZN), the e-commerce giant, might be in talks to turn retail space into fulfillment centers, according to Dow Jones. 


Source: TradingView, Gain Capital

Apple's (AAPL), the tech giant, price target was raised to 515 dollars from 475 dollars at Wedbush. 

Twitter (TWTR), a microblogging and social networking service provider, has held preliminary talks with TikTok regarding a potential combination, reported Dow Jones.

Berkshire Hathaway (BRK-A), a multinational conglomerate, gained some ground in extended trading after having posted quarterly EPS and revenue that beat estimates. 

Fedex (FDX), the package delivery service company, was upgraded to "outperform" from "market perform" at Bernstein. 

Pinterest (PINS), social media network, was upgraded to "overweight" from "equal weight" at Morgan Stanley.

Canopy Growth (CGC), the cannabis company, is surging before hours after posting first quarter adjusted Ebitda loss up 0.2% to 92.2 million dollars, narrower than estimated. Sales were up 22% to 110 million dollars, beating expectations.

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.