S&P 500 futures retreat today after yesterday’s sharp gains reversing the five days of gains for the index. Investors are taking some profits off the table amid rising fears of a second coronavirus wave.
Wall Street finished sharply higher as Amazon, and Tesla ended to fresh all-time highs, supported by the excess liquidity in the markets. The S&P 500 futures trading 0.66% lower at 3,151. The Dow Jones futures are 0.79% lower at 25,973, while the Nasdaq futures are 0.29% lower at 10,567.
In Asia, Chinese stocks continued higher for the second day boosted by an article in the government journal calling for a healthy stock rally. Nikkei 225 finished 0.44% lower at 22,614. Japan, Leading Economic Index, came in at 79.3 above the forecasts of 73.2 in May. The Shanghai Composite index ended 0.37% higher at 3,345. The Singapore Straits Times index finished 1.05% lower at 2,661. Hang Seng was 1.38% lower at 25,975.
European Stocks Retreat
European markets trade lower by midday. The Dax index is 1.18% lower at 12,584. The Germany Industrial production rose by 7.8% in May below the expectations of 11.1% gain. The CAC 40 index is 0.96% lower at 5,032. France’s trade deficit came up to 7.05 billion in May from 5.07 billion euros in April. In London, the FTSE 100 is 1.37% lower at 6,200.
Crude Oil Price Lower For Second Consecutive day
Crude oil trade lower for the second straight day amid concerns of a pullback in demand as the new coronavirus cases rise in many countries around the globe. WTI crude oil futures trade 0.53% lower at 40.35 while the Brent crude oil is 0.35% lower at $42.87.
In Forex, EURUSD pares heavy losses earlier today and as of writing is 0.16% lower at 1.1290, having hit earlier the daily low 1.1258. The British pound is 0.25% higher at 1.2523 against the greenback.
S&P 500 Futures Daily Chart
Awarded and global FX/CFD broker. Well-regulated in multiple jurisdictions. Offers great spreads and liquidity for FX, Indices, and Commodities trading.
Cryptocurrency exchange with over 150 coins. As of Jan 18, Binance was the world's largest cryptocurrency exchange per volume.