- Summary:
- S&P 500 futures trading lower ahead of the cash market opening as the optimism has faded in the face of rising tensions between China and USA as State
S&P 500 futures trading lower ahead of the cash market opening as the optimism has faded in the face of rising tensions between China and USA as State Department order the close of the Chinese consulate in Houston to protect the American intellectual property and the private information of U.S. citizens. China has already vowed to retaliate the closure.
Delay in the new fiscal package in the USA also weighs on risky assets, while yesterday’s profit-taking in the technology sector cancelled the recent bullish momentum.
Investors will focus today in earnings from Microsoft and Tesla as the economic calendar is light. Italy’s announced earlier today that started an investigation into whether Apple and Amazon invelved in anti-competitive cooperation in the sale of Apple products and headphones.
The S&P 500 futures trading 0.16% lower at 3,246. The Dow Jones futures are 0.22% lower at 26,667, while the Nasdaq futures are 0.16% higher at 10,868.
European Stocks Lower
European stocks are trading lower by midday as the EU relief fund optimism evaporates. The Dax index is 0.43% lower at 13,116. The CAC 40 index is 1.06% lower at 5,049. In London, the FTSE 100 is 0.92% lower at 6,211.
Crude Oil Price Retreat From Four-Month Highs
Crude oil trading lower as the oil-producing countries considering to ease the crude oil production cuts agreed in April. WTI crude oil futures trade 0.53% lower at 41.30 while the Brent crude oil is 0.41% lower at $43.80.
In forex markets, EURUSD continues with another leg higher making fresh 18 month highs, as of writing the pair is 0.54% higher at 1.1589.
The British pound is 0.17% lower at 1.2709 against the greenback.
S&P 500 Futures Daily Chart
