Nasdaq 100 futures turn higher ahead of the cash market opening after positive earnings reports from Intel, Verizon and American Express. Sentiment also helped by news that Georgia State opened some businesses. President Trump will sign a $484 billion relief bill to support aid programs for small businesses, and hospitals.
Durable Goods Orders in March came down to 14.4 below the market’s expectation of 11.9% following February’s increase of 1.1%.
The Nasdaq futures are 0.67% higher at 8,657, the S&P futures are 0.86% higher at 2,805. The Dow Jones futures are 0.81% higher at 23,526.
European Stocks Mostly Lower
European markets trade lower by midday after the 27 EU leaders failed to reach an agreement on the relief package for the battered European economy. FTSE 100 is 0.48% lower at 5,798. The UK Retail sales slumped to 5.1% in March below the expectations for 4% fall. The yearly reading, for retail sales, were down 5.8% also below the expectations of a 4.7% drop. DAX Index is 0.37% lower at 10,474. The IFO Business Climate Index registered in at 74.3 below the expectations of 86.1 for April. March reading was at 80.0. The CAC 40 is 0.13% lower at 4,445. The FTSE Mib is the only positive and is 0.76% higher at 17,140.
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Cryptocurrencies Higher, Bitcoin Holds the 7,500 Mark
Cryptocurrencies are trading slightly higher by midday after yesterday’s strong gains. BTCUSD is 0.41% at 7,519, the Bitcoin price bulls now target $8,000. Ethereum is 1.11% higher at 187.26, while Litecoin is 2.91% higher at 44.19. Ripple price is 0.63% higher at 0.1939, but are there enough buyers to push Ripple price above $0.2000?
Crude Oil Price Rebound Intact
Brent crude oil price is 0.20% higher at $21.72 while the WTI June delivery futures are 17.33% higher at $17.32 per barrel. Gold price consolidates after the two day rally and is 0.27% higher at 1,732, while the Silver price is 0.13% higher at $15.25. Copper price aims at $2.4 as demand jitters converge with supply cuts.
In the fx markets, USD is strong today across the board, USDJPY is 0.01% higher at 107.58. EURGBP bounces around as weak data obliterate EU breakthrough. USDCHF is 0.12% higher at 0.9746. AUDUSD is 0.09% higher at 0.6372. Pound to rand rate targets 25.78 as UK retail sales flop.