Asia Morning: US Stock Index Futures Advance Over 1%

On Monday U.S. markets were closed for the Memorial Day. However, major stock index (Dow, S&P 500, Nasdaq 100) futures were still up over 1%...

Trading floor 2

On Monday U.S. markets were closed for the Memorial Day. However, Major Stock Index (Dow, S&P 500, Nasdaq 100) Futures were still up over 1%.  


Source: GAIN Capital, TradingView

Later today, U.S. New Home Sales (a decline to an annualized rate of 480,000 units in April expected) and the Conference Board's Consumer Confidence Index (a rise to 87.0 in May expected) will be reported.

In the Asia Pacific region, Hong Kong's Hang Seng Index (+0.1%) avoided drifting lower after tumbling over 5% last Friday. Japan's Nikkei 225 Index gained 1.7%, and Australia's ASX 200 Index jumped 2.2%.

European stocks were broadly higher, with the Stoxx Europe 600 Index rising 1.5%. Germany's DAX surged 2.9%, and France's CAC gained 2.2%. The U.K. market was closed for a bank holiday. 

Spot gold price retreated $7 (-0.5%) to $1,726 an ounce.

Brent crude oil futures (July) advanced 1.1% to $35.53 a barrel.

On the forex front, the ICE U.S. Dollar Index was little changed at 99.81, amid holiday-thinned trading.

EUR/USD slipped 0.1% yo 1.0896. Bank of France governor Francois Villeroy de Galhau said the European Central Bank "will probably need to go even further", as it has room to act. On the other hand, the German IFO Business Climate Index climbed to 79.5 in May (78.5 expected) from 74.2 in April and Expectations Index bounced to 80.1 (75.0 expected) from 69.4.


More from Indices

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.