• A Peek Into The Markets: US Stock Futures Up; AMD In Talks To Buy Xilinx
    by Lisa Levin on October 9, 2020

    Pre-open movers U.S. stock futures traded higher in early pre-market trade. The Dow Jones closed at its highest level in five weeks, rising more than 100 points in the earlier session. Data on wholesale inventories for August will be released at 10:00 a.m. ET. A 0.5% rise is projected in wholesale inventories for August. Federal Reserve Bank of Richmond President Thomas Barkin is set to speak at 9:00 a.m. ET. Futures for the Dow Jones Industrial Average climbed 117 points to 28,427 while the Standard & Poor’s 500 index futures traded rose 15 points to 3,452.00. Futures for the Nasdaq 100 index gained 33.50 points to 11,572.50. The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 7,606,590 with around 212,770 deaths. India reported a total of at least 6,906,150 confirmed cases, while Brazil confirmed over 5,028,440 cases. Oil prices traded higher as Brent crude futures rose 0.4% to trade at $43.51 per barrel, while US WTI crude futures rose 0.3% …Full story available on Benzinga.com

  • 4 Issues That Will Determine If The Market’s Next Big Move Is Up Or Down
    by Wayne Duggan on October 8, 2020

    U.S. coronavirus cases are climbing in New York and parts of the Midwest, there is no sign a comprehensive stimulus package is coming anytime soon and U.S. economic data has started to plateau after a strong initial rebound. Despite these negative headlines, the SPDR S&P 500 ETF Trust (NYSE: SPY) continues to rally, leaving some investors to wonder why the market is seemingly ignoring the news cycle. On Thursday, Sevens Report Research’s Tom Essaye said the market isn’t ignoring the headlines. It’s simply assuming everything will work out for the best in the coming months. Related Link: Fed Chair Powell On Economic Recovery: ‘Still A …Full story available on Benzinga.com

  • Here’s What’s Happened To The Gold Market In 2020
    by CME Group on October 8, 2020

    What is the fair value of gold? This is the question many investors and traders asked themselves as they reassessed their portfolios and risk exposures in the light of Covid-19. The world economy was faced with an unprecedented shock in 2020 and no single asset class was immune. Global gold markets took center stage when the precious metal climbed above $2,000 per troy ounce in August. One item at a time, we look at recent developments in COMEX gold futures trading. Macro Environment For Gold Back in March, governments and central banks across the world took quick action when the global economy went into lockdown mode. The support they gave to protect citizens and businesses also fed through to financial markets. The Federal Reserve and other central banks have promised to keep interest rates at record-low levels until further notice. Low interest rates make gold more attractive, since low financing costs reduce the opportunity costs of holding gold in a portfolio. Another factor has helped push gold higher: since it is priced in U.S. dollars, a decrease in the value of the dollar naturally increases the price of gold. The U.S. dollar has been weakening against many of its global competitors this year: it lost strength versus the Euro, the Yen, the Swiss Franc and the Chinese Renminbi. Finally, the uncertain economic outlook may have led many investors to increase their exposure to the yellow metal as a safe haven asset. All in, this created something like a perfect environment for gold to reach a $2,000 price level. Since then, the metal has fallen back slightly, just as the U.S. dollar and interest rates have shown tentative signs of strengthening. For …Full story available on Benzinga.com

  • A Peek Into The Markets: US Stock Futures Climb On Stimulus Hopes
    by Lisa Levin on October 8, 2020

    Pre-open movers U.S. stock futures traded higher in early pre-market trade. The Dow Jones jumped over 500 points in the previous session after President Donald Trump supported signing of the $25 billion airline relief package and $135 billion Paycheck Protection Program. Investors are awaiting earnings reports from Domino’s Pizza, Inc. (NYSE: DPZ), Acuity Brands, Inc. (NYSE: AYI) and Helen of Troy Limited (NASDAQ: HELE). Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. New unemployment claims are expected to drop to 819,000 in the October 3 week from 837,000 in the prior week. Federal Reserve Bank of Boston President Eric Rosengren is set to speak at 12:10 p.m. ET, while Federal Reserve Bank of Dallas President Robert Kaplan will speak at 1:00 p.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 2:00 p.m. ET, while Federal Reserve Bank of Richmond President Thomas Barkin will speak at 2:30 p.m. ET. Federal …Full story available on Benzinga.com

  • European Markets, US Index Futures Advance On Stimulus Optimism
    by Mohit Manghnani on October 8, 2020

    Dow Jones and the S&P 500 rose 1.91% and 1.74% on Wednesday, making it the best day since July as President Donald Trump indicated support aid for airlines and a stimulus package for small businesses. The optimism has led to investor cheer as Dow futures are up 0.50% at press time and the S&P500 futures have advanced 0.54%. European markets are up after European Central Bank’s President Christine Lagarde pledged not to remove monetary support until the pandemic-led economic crisis is not over. While Bundesbank President …Full story available on Benzinga.com

  • Brian Stutland’s Lumber Futures Trade
    by Craig Jones on October 7, 2020

    On CNBC’s “Futures Outlook,” Brian Stutland said that lumber is heading lower and he wants to sell …Full story available on Benzinga.com

  • Interest Rate Differentials And The Demand For US Dollar
    by CME Group on October 7, 2020

    Why does the currency market consistently show a larger interest rate differential between the …Full story available on Benzinga.com

  • European Stocks Edge Lower On Mixed Economic Data, Stalled US Stimulus Talks
    by Mohit Manghnani on October 7, 2020

    U.S. stock futures are trading up after President Donald Trump tweeted in support of the airline relief bill and Payroll Protection Program. Tuesday’s fall on Wall Street did not dent Europe’s mood at the open, but European stocks dipped in early trade after mixed economic data. Euro Stoxx 50 index is down 0.08% at press time. European Central Bank President Christine Lagarde is due to speak later in Paris Wednesday, and investors will be watching for …Full story available on Benzinga.com

  • Stock Index Futures Reverse After Trump’s Tweet Supporting Airline Relief, PPP
    by Mohit Manghnani on October 7, 2020

    U.S. markets fell sharply on Tuesday as President Donald Trump stalled the stimulus talks. Dow Jones and the S&P 500 futures have reversed course after Trump tweeted in support of signing the $25 billion airline relief package and $135 billion Paycheck Protection Program late Tuesday. What Happened: On Tuesday afternoon, Trump, in a series of tweets, said he was halting the stimulus bill after negotiations failed. Dow Jones and the S&P 500 fell sharply closing 1.34% and 1.40% lower, respectively. Late Tuesday, Trump tweeted in favor of supporting the $25 billion airline relief package and $135 billion Paycheck Protection Program, saying “both will be fully paid from unused funds from the Cares Act”. The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program …Full story available on Benzinga.com

  • Asian Markets Remain Mixed After US Stimulus Stalemate
    by Mohit Manghnani on October 7, 2020

    Dow Jones and the S&P 500 fell 1.34% and 1.40% respectively on Tuesday after President Donald Trump halted stimulus talks. However, he tweeted in support of the Payroll Protection Program and the airline relief bill early Wednesday. Asian stocks are defying the gloom. Japan’s Nikkei index is trading 0.20% lower at press time. It’s a big on the economic numbers front with Current Account numbers for August due for release Wednesday and expected to show a surplus of JPY 1.98 …Full story available on Benzinga.com

  • Trump Halts Coronavirus Stimulus Talks Until After November Election
    by Tanzeel Akhtar on October 6, 2020

    President Donald Trump said Tuesday afternoon he wants to stop negotiating a coronavirus relief package until after the Nov. 3 presidential election, causing the markets to fall sharply lower. What Happened: “House Speaker Nancy Pelosi called on Republicans to get on board with a version of the coronavirus relief package the House passed last week with only Democratic votes,” according to Bloomberg. “But significant gaps remain between the Democrats’ $2.2 trillion proposal and a $1.6 trillion offer backed by the White House.” “Chairman Powell’s warning could not be more clear: robust action is immediately needed to avert economic catastrophe from the devastation of the coronavirus pandemic,” Pelosi said in a statement Tuesday. “It is long overdue for Republicans to join us in …Full story available on Benzinga.com

  • Fed Chair Powell On Economic Recovery: ‘Still A Long Way To Go’
    by Wayne Duggan on October 6, 2020

    Federal Reserve Chairman Jerome Powell spoke to the National Association for Business Economics on Tuesday and said that the U.S. economy is far from out of the woods from its pandemic slowdown. The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower in early afternoon trading as investors weigh the potential risks to the economic recovery and the potential benefits of more government stimulus. ‘Long Way To Go’: In his speech, Powell said he sees more risk to underaction by the Fed than overaction. “The risks of overdoing it seem, for now, to be smaller,” Powell said. “Even if policy actions ultimately …Full story available on Benzinga.com

  • European Stocks Trade Lower With ECB President’s Speech In Focus
    by Mohit Manghnani on October 6, 2020

    European stocks are trading down as Monday’s Wall Street recovery rally and positive sentiment in Asia fail to lift the mood. European Central Bank President Christine Lagarde is due to speak Tuesday. London’s FTSE index is trading down 0.48% at press time. The United …Full story available on Benzinga.com

  • Asian Markets Trade In Positive Territory After Dow’s Recovery Rally
    by Mohit Manghnani on October 6, 2020

    Dow and the S&P500 had a recovery rally on Monday, closing up 1.68% and 1.80% on stimulus hopes and President Donald Trump returning to the White House. The positive sentiment is also flowing through Asian stocks. Japan’s Nikkei index is trading 0.52% at the time of publication. Japan’s forex reserves data for September is due later Tuesday. China’s Shanghai Composite index is closed for …Full story available on Benzinga.com

  • AUD/USD Forecast: Holding Within Familiar Levels, Neutral But At Risk Of Advancing Further
    by Valeria Bednarik – Chief Analyst at FXStreet on October 5, 2020

    AUD/USD Current Price: 0.7176 Australian better-than-expected macroeconomic data failed to trigger some action. The Reserve Bank of Australia will likely hint more stimulus coming in the near-term. AUD/USD is holding within familiar levels, neutral but at risk of advancing further. The AUD/USD pair has traded uneventfully for a third consecutive day, set to finish the day little changed in the 0.7170 price zone. China and Australia celebrated holidays at the beginning of the week, although Australia released some macroeconomic figures. The Commonwealth Bank Services PMI for September improved to 50.8, beating the 50 expected. The TD …Full story available on Benzinga.com

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