US Futures rebound - Watch TSLA, MRNA, KODK, LBTYA


The S&P 500 Futures are rebounding after they ended in negative territory yesterday

Stocks (2)

The S&P 500 Futures are rebounding after they ended in negative territory yesterday. Investors were concerned after Senate Republican leader Mitch McConnell said there was no progress on talks for a Covid-19 relief package.

US July CPI increased 1% in July YoY (+0.7% expected) after +0.6% in June.

European indices are slightly on the upside. The European Commission has reported June industrial production at +9.1% (vs +10.0% on month expected). The U.K. Office for National Statistics has posted 2Q GDP at -20.4% on quarter (vs -20.5% expected), June industrial production at +9.3 (vs +9.2% on month expected), manufacturing production at +11.0% (vs +10.0% on month expected) and trade balance at 5.3 billion pounds surplus (vs 2.6 billion pounds surplus expected).

Asian indices closed in dispersed order. The Reserve Bank of New Zealand kept its benchmark rate unchanged at 0.25% as expected, while expanding the Large Scale Asset Purchase program up to 100 billion New Zealand dollars from 60 billion New Zealand dollars previously. RBNZ said any future move to a lower or negative official cash rate could provide an effective way to deliver additional monetary stimulus if needed.

WTI Crude Oil futures are posting a rebound. The U.S. Energy Information Administration (EIA) raised the 2021 U.S. crude output forecast to 11.14M b/d from 11.01M b/d projected in July, according to EIA's monthly Short Term Energy Outlook. The American Petroleum Institute (API) reported that U.S. crude-oil inventories fell 4.4 million barrels last week. Later today, EIA will release official crude oil inventories data for the same week.

Gold slightly recovers after yesterday's sell off on US fiscal stimulus uncertainties;

Gold rose 19.82 dollars (+1.04%) to 1931.71 dollars.

The US dollar consolidates after bouncing yesterday on rising US-China tensions.

The dollar index fell 0.13pt to 93.501.

U.S. Equity Snapshot

Tesla (TSLA), the electric-vehicle maker, is surging before hours after announcing a 5 for 1 stock split in order to make stock ownership more accessible to employees and investors.

Source: TradingView, GAIN Capital

Moderna (MRNA), a biotechnology company, announced a 1.53 billion dollars supply agreement with the U.S. government for an initial 100 million doses of mRNA COVID-19 vaccine (mRNA-1273). 

Eastman Kodak Company (KODK) reported a second quarter loss of 5 million dollars compared with a profit of 201 million dollars a year ago. Revenue fell to 213 million dollars from 307 million dollars a year earlier. CEO said the company supports the decision by a federal agency to put on hold a potential government loan of 765 million dollars in order to help the firm produce drug ingredients pending an investigation into eventual wrongdoings. 

Liberty Global (LBTYA), one of the world's leading converged video, broadband and communication companies, agreed to buy telecoms Swiss company Sunrise communications for 110 Swiss francs per share. The offer represents a total enterprise value of 6.8 billion Swiss francs.

More from Equities


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 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.