The S&P 500 Futures are posting a slight rebound after they closed in negative territory yesterday.
Later today, the U.S. Commerce Department will report June housing starts (1.18 million units expected) and building permits (1.29 million units expected). The University of Michigan will publish its Consumer Sentiment Index for July (79.0 expected).
European indices are searching for a trend as a 2-day meeting on European 750 billion euros recovery fund is starting today. The European Commission has posted final readings of June CPI at +0.3% on year, as expected.
Asian indices closed in the green except the Japanese Nikkei which closed slightly in the red.
WTI Crude Oil futures remain under pressure. Saudi Arabia's energy minister Abdulaziz bin Salman Al Saud said the OPEC+ deal will continue until April 2022 and may extend further if necessary, according to Saudi's media Arabiya TV.
Gold is consolidating after a three-session rally.
USD is posting a rebound on renewed tensions between the U.S. and China.
EUR/USD declined 19pips to 1.1393 the day's range was 1.1386 - 1.1419 compared to 1.1391 - 1.1452 the previous session.
U.S. Equity Snapshot
Netflix (NFLX), the video streaming service, is heavily under pressure before hours after reporting second quarter EPS of 1.59 dollar, below the estimate, up from 0.60 dollar a year ago on revenue of 6.1 billion dollars, slightly above the consensus, up from 4.9 billion dollars in the previous year. The Co also anticipates lower than expected new subscriber recruitment in the third quarter.
Source: TradingView, Gain Capital
BlackRock (BLK), the largest public investment management firm in the world, is up in the premarket after disclosing second quarter EPS of 7.85 dollars, better than expected, up 22.5% from the same period last year on revenue of 3.65 billion dollars, ahead of the consensus, up 3.7% from last year.
J.B. Hunt Transport Services (JBHT), a North American logistics company, disclosed second quarter EPS of 1.14 dollar, better than expected, down from 1.37 dollar a year ago on revenue of 2.1 billion dollars, ahead of the consensus, down from 2.3 billion dollars last year.
PPG Industries (PPG), a producer of paints and coatings, reported second quarter adjusted EPS of 0.99 dollar, beating the estimate, down from 1.85 dollar a year ago on net sales of 3.0 billion dollars, above the forecast, down from 4.0 billion dollars in the prior year.
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.