U.S Futures sliding - Watch DIS, MU, GOOGL, REGN, SBUX

,

The S&P 500 Futures remain under pressure after a first acrimonious presidential debate between Donald Trump and Joe Biden

Trading floor 3

The S&P 500 Futures remain under pressure after a first acrimonious presidential debate between Donald Trump and Joe Biden.

Later today, final readings of 2Q annualized GDP will be expected at -31.7% on quarter. The Automatic Data Processing (ADP) will post private jobs for September (+648,000 jobs expected). The Market News International will report Chicago PMI for September (52.0 expected). The National Association of Realtors will release August pending home sales (+3.2% on month expected).

European indices are on the downside. The German Federal Statistical Office has reported September jobless rate at 6.3% (vs 6.5% expected) and August retail sales at +3.1% (vs +0.4% on month expected). France's INSEE has posted CPI for September at +0.1% (vs +0.2% on year expected). The U.K. Office for National Statistics has released final readings of 2Q GDP at -19.8% (vs -20.4% on quarter expected). The Nationwide Building Society has posted its House Price Index for September at +0.9% (vs +0.5% on month expected).

Asian indices closed on a strong down move except the Hong Kong HSI which ended in the green. China's official Manufacturing PMI rose to a 6-month high of 51.5 in September (51.3 expected) from 51.0 in August and Non-manufacturing PMI climbed to the highest level since November 2013 at 55.9 (54.7 expected) from 55.2. On the other hand, China's Caixin Manufacturing PMI slipped to 53.0 in September (53.1 expected) from 53.1 in August. Japan's industrial production grew 1.7% on month in August (+1.4% expected) and retail sales rose 4.6% (+2.0% expected).

WTI Crude Oil futures remain bearish. The American Petroleum Institute (API) reported that U.S. crude-oil inventories fell 831,000 barrels in the week ending September 25. Later today, the U.S. Energy Information Administration (EIA) will release official crude oil inventories data for the same period.

Gold lost ground as the U.S dollar strengthens on COVID-19 fears

Gold fell 12.54 dollars (-0.66%) to 1885.54 dollars.

The dollar index rose 0.2pt to 94.091.


U.S. Equity Snapshot


Walt Disney
(DIS), the entertainment and media giant, plans to lay off 28,000 employees in its theme parks, amid COVID-19 restrictions.


Source: TradingView, GAIN Capital

Micron Technology (MU), a manufacturer of memory chips, lost ground after hours as current quarter sales forecast missed estimates.

Alphabet (GOOGL): according to Reuters, China may launch antitrust probe into Google. 

Regeneron Pharmaceuticals (REGN), a biotech, announced "the first data from a descriptive analysis of a seamless Phase 1/2/3 trial of its investigational antibody cocktail REGN-COV2 showing it reduced viral load and the time to alleviate symptoms in non-hospitalized patients with COVID-19."

Starbucks (SBUX), the global specialty coffee chain, was upgraded to "outperform" from "market perform" at Cowen.

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.