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Premarket: Nasdaq Futures Approach Record Highs

nasdaq 100 futures
nasdaq

Nasdaq 100 futures adding 1.51% at 9251 approaching fresh record highs as the PBOC liquidity injection supports risky assets. Investors sentiment has improved after the  stronger ISM Manufacturing Index reported yesterday. The figure came at 50.9 for January, beating last month’s reading, and also topping analysts expectations.

The Dow Jones futures are 1.23% higher at 28710. The S&P 500 futures are 1.25% higher at 3285, while the Nasdaq futures are 1.50% higher at 9251.

On the economic data, the U.S. Personal spending came in at 0.3% in line with forecasts. The Personal Income came in at 0.2% below the expectations of 0.3% in December.

European Stocks At Daily Highs

European stocks are close to daily highs after the European Monetary Union Producer Price Index came in at 0% in line with forecasts for December. The FTSE 100 in London is 1.40 higher at 7,429 supported by the weaker pound.  The DAX Index is 1.39% higher at 13,228. The CAC 40 is 1.43% higher at 5,915 while the FTSE MIB is 1.65% higher at 23,850.

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Cryptocurrencies Under Pressure

Cryptocurrencies are under pressure today. Bitcoin consolidates to the lower band of the recent trading range, as of writing is 1.93% lower at 9108. Ethereum (ETHUSD) is 2.357% lower at 185.20. Litecoin (LTCUSD) is 3.88% lower at 66.84. Ripple (XRPUSD) is 1.98% lower at 0.2491.

Crude Oil Rebound After the Recent Sell-Off

Crude oil prices rebound strongly  as the price has reached oversold levels. Crude oil is 2.41% higher at $51.34, while the Brent crude oil is 1.80% higher at $55.43. Gold attracting some bids midday as the coronavirus fears returned after the two confirmed cases in UK. Gold price is 0.76% lower at $1,564 as investors shift their attention to risky assets. Silver is 0.15% higher at $17.68.

In forex markets AUD outperforming after the RBA kept the interest rates unchanged. AUDUSD is 0.43% higher at 0.6720. The British Pound recovers some of yesterday’s sharp losses, adding 0.29% at 1.3027. USDJPY is 0.46% higher at 109.16. EURUSD trades 0.11% lower at 1.1048.