US Futures green, watch KMX, ULTA
Jean-Christophe Rolland June 19, 2020 12:45 PM
The S&P 500 Futures are on the upside after they closed mixed again yesterday.
The S&P 500 Futures are on the upside after they closed mixed again yesterday, as investors tried to digest data on rising coronavirus cases and initial jobless claims.
Later today, the U.S. Commerce Department will release 1Q current account balance (102.9 billion dollars deficit expected).
European indices are on the upside as European leaders are negotiating over their 750 billion euros relief package. The German Federal Statistical Office has reported May PPI at -2.2% on year (vs -2.0% expected). The U.K. Office for National Statistics has posted May retail sales at 12.0% (vs 6.3% expected and -18.0% the previous month) and public sector net borrowing excluding banking groups at -54.5 billion pounds (vs -47.3 billion pounds expected).
Asian indices closed in the green. This morning, official data showed that Japan's national CPI grew 0.1% on year in May (+0.2% expected).
WTI Crude Oil Futures are rebounding. Russian Energy Minister Alexander Novak said global oil inventories would fell to a 5-year average level in late 2020 or mid-2021.
Gold remains firm on fears of a second COVID-19 wave. Gold rose 7.77 dollars (+0.45%) to 1730.69 dollars.
The US dollar is set for weekly gain on rising geopolitical tension. The EUR/USD fell 2pip to 1.1203 while GBP/USD declined 50pips to 1.2374.
US Equity Snapshot
CarMax (KMX), a car and light truck retail chain, posted first quarter used vehicle unit comparable store sales down 41.8%. Total sales were down 40% to 3.23 billion dollars, beating estimates. EPS was 0.03 dollar vs 1.59 dollar a year earlier.
Ulta Beauty (ULTA), an operator of a chain of beauty retailers, was upgraded to "overweight" from "equal-weight" at Barclays.
Source : TradingVIEW, Gain Capital
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.