Asia Morning: US Stock Index Futures Advance Over 1%

On Monday U.S. markets were closed for the Memorial Day. However, major stock index (Dow, S&P 500, Nasdaq 100) futures were still up over 1%...

Trading floor 2

On Monday U.S. markets were closed for the Memorial Day. However, Major Stock Index (Dow, S&P 500, Nasdaq 100) Futures were still up over 1%.  


Source: GAIN Capital, TradingView

Later today, U.S. New Home Sales (a decline to an annualized rate of 480,000 units in April expected) and the Conference Board's Consumer Confidence Index (a rise to 87.0 in May expected) will be reported.

In the Asia Pacific region, Hong Kong's Hang Seng Index (+0.1%) avoided drifting lower after tumbling over 5% last Friday. Japan's Nikkei 225 Index gained 1.7%, and Australia's ASX 200 Index jumped 2.2%.

European stocks were broadly higher, with the Stoxx Europe 600 Index rising 1.5%. Germany's DAX surged 2.9%, and France's CAC gained 2.2%. The U.K. market was closed for a bank holiday. 

Spot gold price retreated $7 (-0.5%) to $1,726 an ounce.

Brent crude oil futures (July) advanced 1.1% to $35.53 a barrel.

On the forex front, the ICE U.S. Dollar Index was little changed at 99.81, amid holiday-thinned trading.

EUR/USD slipped 0.1% yo 1.0896. Bank of France governor Francois Villeroy de Galhau said the European Central Bank "will probably need to go even further", as it has room to act. On the other hand, the German IFO Business Climate Index climbed to 79.5 in May (78.5 expected) from 74.2 in April and Expectations Index bounced to 80.1 (75.0 expected) from 69.4.


More from Indices

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.