S&P Futures Trading Higher Ahead of US PMI’s and Michigan Consumer Sentiment

S&P futures trading 0.17% higher at 3,109.25 recovering some of yesterdays losses as investors try to digest the mixed headlines from the trade negotiations between US and China. Jobless Claims came in at five-month high indicating some softening in the labor market, while the Philly Fed Manufacturing beat forecasts.

InvestingCube's S&R Levels

NAS100

NAS100 (11483.3)

Not in Buy Zone

STOP

BUY

TP1

11569

TP2

11931

The Dow Jones Industrial futures trading 0.05% higher at 27,76333 and Nasdaq futures adding 0.20% at 8,291 as traders await later today the US manufacturing and services PMI.

Asian indices ended mostly higher, the Nikkei 225 finished 0.32% higher at 23,112 after the Manufacturing PMI came in at 48.6 below forecasts of 48.7 in November and the National Consumer Price Index came in at 0.2% below forecasts of 0.3%. The Hang Seng added 0.48% at 26,595. European stock indices started the session higher but as of writing the Dax has turned negative despite upbeat manufacturing data. CAC 40 trading 0.13% higher at 5,888. In London, the FTSE 100 is 0.99% higher after UK weaker PMI reading.

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In forex markets, the EURGBP rebound after weak UK PMI’s figures, AUDUSD trading 0.01% higher at 0.6787 while the GBPUSD gives up Gains on dollar strength and EURUSD is muted ahead of Largarde speech.

In commodities markets, gold is higher but capped by resistance at $1,476. Crude Oil prices reach the highest since September.

Cryptocurrencies trade lower for one more day Bitcoin hitting monthly low and oversold level, while Ethereum slumps 7.97% at 148,02.More content