US Futures rising, watch BA, CAT, TWTR

The S&P 500 Futures continue to climb as investors believe the coronavirus has passed its peak in major economies.

FOREX 8

The S&P 500 Futures continue to climb as investors believe the coronavirus has passed its peak in major economies.

Later today, the Federal Reserve Bank of Dallas will release its Manufacturing Activity Index for April (-88.0 expected).


European indices are on the upside as governments of France, Italy and Spain said they are preparing to loosen coronavirus restrictions. U.K. Prime Minister Boris Johnson has returned to work today after suffering from the coronavirus.

Asian indices closed on a jump. The Bank of Japan announced that it will purchase necessary amount of Japanese government bonds with no limit, compared with a previous target of 80 trillion yen, while keeping its benchmark rate at -0.1% unchanged.

WTI Crude Oil Futures are back to the downside. The number of U.S. oil rigs counts plunged further to the lowest level since July 2016 at 378 on April 24 from 438 a week ago, according to Baker Hughes.

Gold fell 13.04 dollars (-0.75%) to 1716.56 as hopes of lockdown easing measures improved market sentiment. 


For same reasons, the US Dollar is losing some ground, EUR/USD rose 19pips to 1.0842 while GBP/USD gained 67pips to 1.2434.


USD/JPY fell 37pips to 107.14 on increasing BoJ stimulus.


US Equity Snapshot


Boeing (BA), the aircraft manufacturer, announced that it has terminated the agreement with Brazilian aerospace conglomerate Embraer to establish a joint venture. Embraer said Boeing "has manufactured false claims as a pretext to seek to avoid its commitments to close the transaction and pay Embraer the 4.2 billion dollars purchase price", adding it " will pursue all remedies against Boeing for the damages".

Caterpillar (CAT), the world's largest manufacturer of heavy equipment for multiple industries, was downgraded to "underweight" from "equal-weight" at Morgan Stanley.

Twitter (TWTR), the social network, was upgraded to "neutral" from "underperform" at Mizuho Securities.

Source : TradingView, GAIN Capital


More from Indices

Related Articles

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.