US Futures green again, watch ORCL, AMZN, GRPN

The S&P 500 Futures remain on the upside after they advanced further yesterday, as investors were encouraged by upbeat retail sales.


The S&P 500 Futures remain on the upside after they advanced further yesterday, as investors were encouraged by upbeat retail sales readings and a news report of a potential one-trillion-dollar infrastructure plan by the government. Meanwhile, Federal Reserve Chairman Jerome Powell told the Senate Banking Committee: "Until the public is confident that the disease is contained, a full recovery is unlikely."

Later today, the U.S. Federal Chairman Jerome Powell will testify before the House Financial Services Committee. The U.S. Commerce Department will report May housing starts (1.10 million units expected) and building permits (1.25 million units expected). 

European markets are searching for a trend after a positive opening. The European Commission has posted final readings of May CPI at +0.1% on year (vs +0.3% in April). The U.K. Office for National Statistics has released May CPI at +0.5% on year, as expected.

Asian indices closed on a mixed mood. This morning, government data showed that Japan's exports decline 28.3% on year in May (-26.1% expected) and imports sank 26.2% (-20.4% expected),

WTI Crude Oil Futures are under pressure. The American Petroleum Institute (API) reported that U.S. crude oil stockpile rose 3.9M barrels for week ended June 12. International Energy Agency projected that global oil demand would bounce by 5.7M b/d to 97.4M b/d in 2021.

Gold consolidates as the US dollar gains ground on strong US retail sales. 

Gold fell 7.28 dollars (-0.42%) to 1719.26 dollars. 

EUR/USD declined 17pips to 1.1247 while GBP/USD fell 11pips to 1.2562.


US Equity Snapshot


Oracle (ORCL), an information technology and software company, dropped in extended trading after posting worse than expected fourth quarter sales of 10.4 billion dollars, down from 11.1 billion dollars a year earlier. Adjusted EPS increased to 1.20 dollar from 1.16 dollar a year ago, exceeding estimates. (AMZN), the e-commerce giant, was rated "buy" in a new coverage at Needham.

Groupon (GRPN), the mobile and online marketplace, unveiled first quarter adjusted LPS of 1.63 dollar vs an EPS of 0.58 dollar a year earlier. Sales fell 35% to 374.2 million dollars. Those figures beat estimates, sending the shares higher after hours. The company said it is "encouraged by recent performance trends that indicate our business is recovering more quickly than we expected."

H&R Block (HRB), a provider of tax return services, reported fourth quarter adjusted EPS of 3.01 dollars, better than expected, vs 4.39 dollars a year earlier. Sales fell to 1.81 billion dollars from 2.3 billion dollars a year ago.

Norwegian Cruise Line (NCLH), a leading global cruise company, tanked in extended trading after announcing "an extension of its previously announced suspension of global cruise voyages to include all voyages embarking between August 1 and September 30, 2020 for its three cruise brands."

Source : TradingVIEW, Gain Capital

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.