Premarket – S&P 500 Futures Higher Ahead of Earnings Season

S&P 500 poised for another positive opening as the futures market indicates. S&P futures are 0.29% higher at 3,274. Traders are looking forward to the signing of the phase one trade deal between China and U.S. focusing on any fresh clues on when the second phase of the trade deal will start. Risk appetite has returned in the equities as the tensions between Iran and USA ease. Stocks are trading close to record highs ahead of the earnings season as the valuations hit all-time highs in price to sales and EV/EBITDA.

InvestingCube's S&R Levels

NAS100

NAS100 (11325)

In Profit

STOP

SELL

TP1

11478

TP2

11338

The Dow Jones futures are 0.30% higher at 28,864, while the Nasdaq futures are 0.42% higher at 9,016.

NFP Data Disappointed Investor

On Friday weak NFP data pressured Wall Street indices after the Dow Jones break briefly above the 29,000 mark. The broader S&P 500 closed down 0.29% at 3,265. The Dow Jones was 0.46% lower at 28,823, while the Nasdaq finished 0.27% lower at 9,178.

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European Stocks Mixed

European indices are mixed midday after a strong opening. FTSE 100 is 0.31% higher at 7,611 after weak GDP data. The DAX Index turned 0.06% lower at 13,475. The CAC 40 is 0.12% higher at 6,044 while the FTSE MIB is 0.42% lower at 23,925.

Asian indices rose ahead of the China and U.S. trade deal with Nikkei 225 closed for a holiday. The Hang Seng closed up 1.11% at 28,954, the Shanghai Composite finished 0.75% higher at 3,115. In Singapore stocks ended 0.15% lower at 3,251. The ASX 200 in Australia finished 0.37% lower at 6,903.

Bitcoin in Consolidation Phase

In cryptocurrencies, the bitcoin consolidates between $8,000 and $8,200. Ripple XRP USD is 1.55% at 0.2115. ETHUSD is 2.00% lower at $143.35 with capitalization at 18.71 billion. Litecoin is 4.59% lower at 49.13.

In commodities markets, crude oil prices fall despite bigger OPEC production cuts. Gold price trades 0.45% lower at 1,555 as traders continue to run away from safe haven assets.

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