Premarket: S&P 500 Futures Pare Gains Ahead of Initial Jobless Claims

S&P 500
S&P 500

S&P 500 futures point to a quiet start giving up early gains and turns slightly lower in premarket ahead of the initial jobless claims report. Analysts expect around 5.5 million new jobless claims are rising the last three week to a total of 15 million. A figure above the previous week reading of 6.64 million would indicate that the coronavirus impact is bigger than expected, and it will take more time for the recovery. 

Nasdaq 100 futures are 0.49% lower at 8148, the Dow Jones futures are 0.30% lower at 23179, while the S&P 500 futures are 0.55% lower at 2718. 

European Stocks Cautiously Higher

 European stocks are trading higher, even the news that the lockdown will be extended by more than three weeks. The DAX Index is 0.60% higher at 10,392. The CAC 40 is 0.37% higher at 4,459. FTSE 100 is 1.33% higher at 5,752, while the FTSE Mib index is 0.75% higher at 17,508. 

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Cryptocurrencies Slide 

Cryptocurrencies are trading lower after hitting major resistances. Bitcoin price is 2.25% lower at 7210. Ethereum is 2.34% lower at 169.35, while Litecoin is 2.08% lower at 45.61. Ripple price stalls again at the 50-day moving average, as of writing is 3.11% lower at 0.1961. 

Crude Oil Price Turns Higher

WTI crude oil price is 3.35% higher at $25.94; Brent crude oil is 0.83% lower at $33.37. Gold price trades higher, as of writing gold price is 1.03% higher at 1660. Silver price is 1.22% higher at $15.05.  

In the forex markets, GBPINR higher after stronger than expected UK Manufacturing Production. USDJPY is 0.05% higher at 108.88. AUDUSD is 0.05% higher at 0.6231. NZDUSD is 0.15% lower at 0.5995. GBPUSD under pressure as BOE plans to fund Government spending. USDCAD is 0.24% higher at 1.4047. 

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