Nasdaq 100 futures recover some of Friday loses as the PBOC took measures to eliminate the negative impact of the coronavirus outbreak. China announced the start of a clinical trial to fast test a drug for the coronavirus infection. Investors attempt to shift their attention to corporate earnings and fundamental data.
The Nasdaq futures are 0.70% higher at 9,060. The Dow Jones futures are 0.52% higher at 28343 while the S&P 500 futures are 0.59% higher at 3243.
On the economic data, the U.S. ISM institute’s Purchasing Managers’ Index for January will be released at 15:00GMT.
European Stocks In Positive Territory
European indices keep the positive momentum midday. The FTSE 100 in London is 0.41 higher at 7,315 on upbeat UK PMI data. The DAX Index is 0.21% higher at 13,010. The CAC 40 is 0.35% higher at 5,826 while the FTSE MIB is 0.62% higher at 23,379.
Read our Best Trading Ideas for 2020.
Cryptocurrencies Retreat
Cryptocurrencies consolidate close to recent highs. Bitcoin BTCUSD is 0.26% lower at 9305. Ethereum (ETHUSD) is 0.86% higher at 188.64. Litecoin is 0.66% lower at 69.36. Ripple XRP price is 0.85% lower at 0.2489.
Commodities Pressures Persist
Crude oil price is 0.21% lower at $51.44, while the Brent crude oil is 1.08% lower at $56.01. Gold also retreats at midday as the PBOC intervention helps to control the coronavirus fears. Gold price is 0.68% lower at $1,579. Silver is underperforming giving up 1.47% at $17.76.
In forex markets USD index is 0.38% at 97.73. The GBPUSD is under selling pressure as hard Brexit fears resurface. GBPUSD is 1.20% lower at 1.3042. AUDUSD is 0.12% higher at 0.6694. USDJPY is 0.18% higher at 108.53. EURUSD trades 0.32% lower at 1.1057.
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