Premarket: Nasdaq 100 Futures Lower As Stimulus Failled to Impress Investors

Nasdaq 100

Nasdaq futures resumed downtrend move after yesterday’s rebound, as investors disappointed after President Trump failed to deliver the relief package that promised on Monday. The confirmed cases in U.S. have surpased 1000 and the death toll is at 28.  Treasury might extend the April 15 deadline for filing 2019 taxes, in a move to support business and households.

The United States Consumer Price Index came in at 0.1% above the expectations of 0% in February, the yearly CPI reading came in at 2.3% topping the forecasts of 2.2%.

The Dow Jones futures are 2.53% lower at 25018, while the Nasdaq futures are 2.55% lower at 8118. The S&P 500 futures are 2.68% lower at 2788.

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European Stocks Slightly Higher

European stocks trading higher by midday after the Bank of England cut the interest rates by 50 basis points and await a stimulus from ECB to be announced tomorrow. The DAX Index is 0.41% higher at 10,519. The CAC 40 is 0.60% higher at 4,666. FTSE 100 is 0.19% higher at 5,971 while the FTSE Mib index turned negative and is 0.19% lower at 17,829.

Cryptocurrencies Turn Lower

Cryptocurrencies resumed downtrend today, the bitcoin (BTCUSD) is 0.63% lower at $7835. Ethereum (ETHUSD) is 2.07% lower at 196.13. Ripple (XRPUSD) is 2.25% lower at 0.2066 while Litecoin (LTCUSD) is 3.93% lower  at 48.13

Crude Oil Under Selling Pressure

Crude oil price is under selling pressure for one more day amid the Russia and Saudi Arabia price war. The WTI is 3.78% lower at $33.05. Brent crude oil is 5.31% lower at $35.91.

Gold is 0.97% higher at $1665 as investors return to safe haven assets. Silver price is 0.33% higher at $16.93.

In forex markets, US Dollar is weaker across the borad. The US Dollar is 0.44% lower at 96.06. The Euro is 0.55% higher at 1.1342 against the USD. The British pound is 0.15% higher against the USD. The Japanese yen is stronger today, and the USDJPY pair is 1.03% lower at 104.54.

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