US Futures slightly up - Watch AMZN, TSLA, NVAX, BRK/B

,

The S&P 500 Futures remain slightly on the upside

Trading floor 2

The S&P 500 Futures remain slightly on the upside. Still, no progress was made on political negotiations over the new coronavirus relief package.

Due later today is the U.S. Empire State Manufacturing Survey (a decline to 14.5 in August is expected).

European indices are searching for a trend as Covid-19 cases are on the upside.

Asian indices closed in dispersed order. The Hong Kong HSI and the Chinese CSI closed on the upside while the Japanese Nikkei and the Australian ASX closed lower. This morning, Japan's second quarter annualized GDP shrank 27.8% on quarter (-26.9% expected), the largest decline on records, according to the government.

WTI Crude Oil futures are rebounding. The total number of rigs in the U.S. fell to 244 as of August 14 from 247 a week ago, while rigs in Canada increased to 54 from 47, according to Baker Hughes. U.S. Crude Oil rigs fell from 176 to 172, the lowest since July 2005.

Gold gains some ground after prices had their biggest weekly decline since March on risk appetite comeback.

Gold rose 9.23 dollars (+0.47%) to 1954.35.

The US dollar consolidates before the release of Fed minutes this week.

The dollar index fell 0.11pt to 92.983.

U.S. Equity Snapshot

Amazon (AMZN), the e-commerce giant, is currently being probed by the German Federal Cartel Office over potential abuse of dominance during the COVID-19 pandemic, according to CNBC. 

Source: TradingView, GAIN Capital

Tesla (TSLA): the electric-vehicle maker's car registrations in China fell to 11,623 units in July from 15,529 units in June, according to Reuters. 

Novavax (NVAX), the biotech, "announced the beginning of a Phase 2b clinical trial in South Africa to evaluate the efficacy of NVX-CoV2373, Novavax’ COVID-19 vaccine candidate." 

Berkshire Hathaway (BRK/B): according to financial filings, the Warren Buffet holding reduced its stakes in JPMorgan (JPM), Wells Fargo (WFC) and PNC Financial (PFC) during the second quarter, and exited Goldman Sachs (GS) stake, also during the second quarter.

More from Equities

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.