Premarket: Nasdaq 100 and S&P Futures Mixed At The End of Q1

Summary:
• Nasdaq futures trading higher in premarket at the last day of a volatile first quarter supported by data pointing to a possible peak in the coronavirus

Nasdaq futures trading higher in premarket on the last day of a volatile first quarter supported by data pointing to a possible peak in the coronavirus cases in Spain and Italy. Speculation for a fourth relief package by the U.S. administration also helps stocks. Investors sentiment also supported by stronger than expected manufacturing data from China. Chinese manufacturing PMI report was at 52, while the consensus estimate was 45, and the February reading was at a record low of 35.7. The Non-Manufacturing PMI came in at 52.3, also above the expectations of 37.8 in March.

Nasdaq futures are 0.04% higher at 7855, the Dow Jones futures are 0.23% lower at 22117, while the S&P 500 futures are 0.31% lower at 2605. 

European Indices Retreat   

European indices trading mixed after ECB call for a dividend halt the banks until October. Governing Council member Ignazio Visco said that the ECB is ready to use all options available within its mandate to support the European economy amid the coronavirus spread. ECB has raised the goal for purchases of assets to around 1.1 trillion euros this year to fight the virus outbreak. The DAX Index is 0.48% higher at 9,859. The CAC 40 is 0.07% lower at 4,374. FTSE 100 is 0.74% higher at 5,604, while the FTSE Mib index is 0.49% higher at 16,958. 

Read our Best Trading Ideas for 2020.

Cryptocurrencies Looking For Direction

Cryptocurrencies trading mixed by midday, the Bitcoin price tests critical resistance at $6,650. Ripple Price is 0.13% higher at 0.1719. Ethereum is 0.33% lower at 131.88, while LTCUSD is 0.41% lower at 38.85.  

Crude Oil Price Rebound from 17-Year Lows.  

WTI crude oil price is 7.95% higher at $21.59 after Russia and the United States agreed to start talks to stabilize energy markets. Brent crude oil is 22.29% higher at $27.70. Gold Price stalls amid modest improvements in the coronavirus pandemic, and trades 1.35% lower at 1600. Silver price is 0.54% lower at $13.92.  

In the forex markets, NZDUSD rejected At 0.6050, bears are in control. GBP to USD is 0.59% lower at 1.2338. EURUSD is 0.91% lower at 1.0941. The Australian dollar is 1.25% lower against the USD. EURGBP looking for direction after the correction, and is 0.25% lower at 0.8861.