S&P 500 futures trading higher at 3,095 pointing to flat open as the S&P 500 index closed at 3,096 on Friday. Investors worry about a second wave of coronavirus infections, as the WHO reported over 183k new cases worldwide, while Arizona and Florida reported a record number of new infections.
Economic data today shows some improvement in the economy. The Chicago Fed National Activity Index came up to 2.61 in May from -17.89 in April.
The S&P 500 futures are 0.84% higher at 3,085. The Dow Jones futures are 0.78% higher at 25,723, while the Nasdaq futures are 0.87% higher at 10,009.
Stocks to Watch
Apple (AAPL) announced during the weekend that it will re-close 11 stores in Florida as the new coronavirus cases rise in Florida. Tesla announced that its annual meeting will take place on September 15, as well as its “Battery Day” event.
Download our Q2 Market Global Market Outlook
European Markets Retreat
European markets retreat today, the Dax index is 0.33% lower at 12,291 as the Wirecard continue with heavy losses. At the same time, the reproduction rate rose to 2.88 yesterday showing that the coronavirus outbreak is expending again in Germany. The CAC 40 index is 0.44% lower at 4,957. In London, the FTSE 100 is 0.30% lower at 6,274.
Crude Oil Price Trades Close to Recent Highs
After a weak start, crude oil managed to rebound in the European session. WTI crude oil futures trade 0.37% higher at 39.65, while the Brent crude oil is 0.35% higher at $41.99.
Cryptocurrencies Trading Higher
Bitcoin is 2.19% higher at 9,486, the Litecoin (LTCUSD) trades 1.86% higher at 43.76. Ripple price vulnerable below 0.1915, while Ethereum (ETHUSD) is the outperformer adding 4.69% higher at 238.37.
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.