Nasdaq futures change between gains and losses in pre-market trading after yesterday’s strong rally that Dow Jones made the biggest daily gains since 1933. US lawmakers agreed yesterday on a $2 trillion stimulus package, that includes cash payment for low-income earners of $1200 for adults and $500 for children and $500 billion of corporate and local government assistance. Unemployment benefits will be increased while hospitals will get $150 billion. President Trump said he wanted to get the economy up and running again by April 12.
The Dow Jones futures are 0.18% higher at 20645, while the Nasdaq futures are 0.95% lower at 7482. The S&P 500 futures are 1.09% lower at 2412.
European Indices Mixed
European indices trading mixed by midday. The DAX Index is 0.91% lower at 9,615. The Germany IFO – Expectations came in at 79.7 below the forecasts of 81.9 in March, the Business Climate came in at 86.1, below the estimates of 87.7. The Current Assessment registered at 93 below the forecasts of 93.6. The CAC 40 is 1.41% higher at 4,302. FTSE 100 is 1.22% higher at 5,512 while the FTSE Mib index is 0.05% lower at 16,951.
Read our Best Trading Ideas for 2020.
Cryptocurrencies Turn Red
Cryptocurrencies retreat today, the Bitcoin price struggles to sustain gains above $6,600 and is 3.22% lower at $6554. Ripple price retreat by midday and is 2.55% lower at 0.1587. Ethereum is 2.74% lower at 134.59, while Litecoin is 4.89% lower at 38.59.
Crude Oil Resumes Downtrend
Crude oil price resumes downtrend. The WTI crude oil is 2.92% lower at $23.32. Brent crude oil is 5.751% lower at $26.02. Gold price pair early gains and turned 0.81% lower at 1609. Silver price is 1.05% lower at $14.08.
In the forex markets, USDMXN turns lower following the meteoric rise of 38% from 2020 lows. The British pound is 0.97% higher against the greenback at 1.1859. US dollar index is 0.31% lower at 101.60, EURUSD is 0.21% higher at 1.0807. The Aussie dollar is 1.01% higher against the USD, while NZDUSD is 0.61% higher at 0.5860.
Don’t miss a beat! Follow us on Telegram and Twitter.
More content
- Download our latest quarterly market outlook for our longer-term trade ideas.
- Follow Nikolas on Twitter.
- Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.