We use cookies to offer a better browsing experience, analyze site traffic, personalize content, and serve targeted advertisements. By clicking accept, you consent to our privacy policy & use of cookies. (Privacy Policy)

Premarket: S&P 500 Futures Higher As Bullish Momentum Accelerates


S&P 500 futures trade on positive foot for one more day pointing to a positive opening in the cash market as investors cheered the reopening of the economy and despite the violent protests in many cities around the USA. President Donald Trump threatened to deploy the army if the unrest continues. The curfew in some U.S. cities and the extensive protests might delay the reopening. 

Apple (AAPL) is cutting the iPhone prices in China, in an attempt to boost demand as the Chinese economy gradually recovers following the coronavirus crisis. Netflix (NFLX) managed to break above the 50-day moving average, while Tesla added 7.56% at $898.10. 

Dow Jones futures are 0.36% higher at 25,475, the S&P 500 futures are 0.38% higher at 3,055 while the Nasdaq futures are 0.66% higher at 9,552. 

DAX Adds 3.74% At 12,020

European stocks are trading to three-month highs with DAX returning above 12,000 mark as Angela Merkel planning additional fiscal stimulus between 50 and 100 billion euro to revive the economy. CAC 40 in Paris is 2.10% higher at 4,869. Investors await the ECB meeting on Thursday, which comes at an optimistic moment for the common currency, now that member governments are planning for a commonly issued debt, a necessary step towards the fiscal union.

The FTSE 100 is 1.06% higher at 6,231 after the Mortgage Approvals came in at 15.8K below the forecasts of 23.776K in April. The U.K. Consumer Credit came in at £-7.4B below the expectations of £-4.5B, while the Net Lending to Individuals dropped to £-6.9B from previous £1B. Earlier today reported that the U.K. Nationwide Housing Prices seasonally adjusted came in at -1.7%, below the forecasts of -1% in May, while the yearly reading registered in at 1.8% below the expectations of 2.8%.

Download our Q2 Market Global Market Outlook

Crude Oil Price Tests The 100-Day Moving Average 

WTI crude oil futures trade 2.26% higher at 36.25 while the Brent crude oil is 1.94% higher at $39.27 testing the 100-day moving average. The Gold price retreat as the risk-on sentiment shifts investors attention to more risky assets, as of writing gold price is 0.05% lower at 1,738, while silver price pares early gains and is 0.02% higher at 18.22.

Cryptocurrencies Trade Higher After Bitcoin Breached Above 10,000

Litecoin (LTCUSD) trades 3.19% higher at 49.81 as Bitcoin price prepares for another leg higher above 10,000. Ripple (XRPUSD) price is 1.44% higher at 0.2143, while Ethereum (ETHUSD) is 1.89% higher at 252.72. 

Don’t miss a beat! Follow us on Telegram and Twitter.

More content