Premarket: Nasdaq Futures Higher Ahead Of Earnings Season

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Nasdaq futures started on positive foot the week on optimism about coronavirus drug from Pfizer ahead of the earnings season that begins tomorrow. Investors continue to ignore the rising number of new COVID-19 cases in southern states. Florida reported yesterday a new daily record above 15,000 while the now there are over 3.3 million cases in the USA.

On corporate news, Apple’s (AAPL) shipments of its MacBook expected to rise more than 20% in the second quarter. Analog Devices will buy Maxim Integrated for $20.91 billion in stock. Alibaba (BABA) co-founder Jack Ma cut his stake in the company to 4.8% from 6.2%. The shares sold by Jack Ma are worth about $8.2 billion. Analysts expect that Moderna (MRNA) could generate about $5 billion in orders over the next few years of its coronavirus vaccine.
The S&P 500 futures adds 0.70% at 3,200. The Dow Jones futures are 0.77% higher at 26,173, while the Nasdaq futures are 0.92% higher at 10,937.

European Stocks Higher Ahead Of Earnings Season 

European markets are trading higher by midday on optimism for better than expected corporate results after the coronavirus downgrades. The Dax index is 0.94% higher at 12,752. The CAC 40 index is 1.28% higher at 5,033. In London, the FTSE 100 is 1.09% higher at 6,161. 

Crude Oil Price Retreat on News Of Increase in Production Output

Crude oil trading lower on Monday on rumours that oil-producing countries considering to increase the crude oil production. WTI crude oil futures trade 0.74% lower at 40.26 while the Brent crude oil is 0.64% lower at $42.93.  

In Forex, EURUSD keeps the positive momentum above 1.13 and as of writing the pair is 0.33% higher at 1.1335. The British pound is 0.02% higher at 1.2614 against the greenback. 

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Nasdaq Futures Daily Chart

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