US Futures flat ahead of Fed, watch AAPL, AMZN, UAL, GME

The S&P 500 Futures are flat after Nasdaq 100 marked another record close yesterday.

FOREX 8

The S&P 500 Futures  are flat after Nasdaq 100 marked another record close yesterday.

Later today, U.S. Consumer Price Index (flat in May expected) will be reported. The Federal Reserve is expected to keep its key interest rates unchanged.

European indices are down. France's INSEE has posted April industrial production at -20.1% (vs -20.0% on month expected). OECD sees Global GDP At -6% in 2020 and at -7.6% if there is a second Covid-19 wave with a +2.8% rebound in 2021.

Asian indices closed in the green except the Chinese CSI. This morning, official data showed that Japan's core machine orders dropped 12.0% on month in April (-7.0% expected). China's CPI rose 2.4% on year in May (+2.7% expected) while PPI dropped 3.7% (-3.3% expected).

WTI Crude Oil Futures remain under pressure even if the U.S. Energy Information Administration raised its 2020 oil price forecasts while lowering its projection for U.S. oil production.

Gold gains ground as equities rally fades. Gold rose 6.3 dollars (+0.37%) to 1721.63 dollars.

The US dollar continues to consolidate before the Fed monetary policy decision. The EUR/USD rose 41pips to 1.1381 while GBP/USD gained 56pips to 1.2784.

US Equity Snapshot

 

Apple (AAPL +3.16% to 343.99 dollars), the consumer electronics company, spiked to an all-time high yesterday after Bloomberg reported that the Co plans to start using its own processors instead of Intel's in its Mac computers.

Amazon.com ( AMZN +3.04% to 2600.86 dollars) reached a new all-time high yesterday.

United Airlines (UAL) was downgraded to "neutral" from "overweight" at Morgan Stanley.

eBay (EBAY), the global electronic commerce platform, was upgraded to "hold" from "underperform" at Jefferies.

Gamestop (GME), the videogame retailer, lost ground after hours after reporting worse than expected quarterly earnings and sales.

Source : TradingVIEW, Gain Capital


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.