US Futures rise, watch AAL, WMT, AXP

US Futures rise, watch AAL, WMT, AXP

The S&P 500 Futures are trading on the upside despite a bearish gap opening on Monday morning
The S&P 500 Futures are trading on the upside despite a bearish gap opening on Monday morning as investors digested Apple's announcement of closing some stores in Arizona, Florida, North Carolina and South Carolina thanks to resurgence in coronavirus cases.

Later today, the Federal Reserve System Bank of Chicago will post May National Activity Index. The National Association of Realtors will report May existing home sales (4.1 million units expected).

European indices are trading within the red. No major economic data news were released except the U.K. Industrial Trends Survey factory orders posting a decline twice above expected in June at -58, but slightly better than the previous month historical low at -62. Later today, the Eurozone’s Consumer Confidence Index for June are going to be released (-15.0 expected).

Asian indices closed mixed. The Hong Kong HSI dropped 0.54% and therefore the Japanese Nikkei lost 0.18% while the China Mainland CSI 300 added 0.08% and therefore the Australian ASX 200 ended flat (+0.03%)

WTI petroleum Futures are gaining some ground, following Friday rally. the amount of U.S. oil rigs as of June 19 dropped by 13 from every week ago to 266, and oil rigs in Canada fell by 4 to 17, consistent with Baker Hughes. internet long position of WTI petroleum slid 7.1% on week to 354,363 contracts as of June 16, reported the Commodities Futures Trading Commission.

Gold is gaining ground while the US dollar consolidates on rising COVID-19 cases. 

Gold rose 3.89 dollars (+0.22%) to 1747.76 dollars.

EUR/USD rose 30pips to 1.1208 while GBP/USD gained 38pips to 1.2388.

US Equity Snapshot

 

American Airlines (AAL) plans to boost 3.5 billion dollars in shares and notes, to strengthen its record .

Walmart (WMT), the retailer, was upgraded to "buy" from "neutral" at UBS.

American Express (AXP), a globally integrated payments company, was downgraded to "sell" from "neutral" at UBS.

Published on: 6/22/20, 3:54 PM