EU markets seem to anticipate Powell’s speech
The European sector is assumed to start the day mainly in the range today. The sector seems to be suffering some damages to its positive momentum observed earlier this week.
According to IG, London’s FTSE is marked to open 5 points more expensive at 6,042, Germany’s DAX higher 9 points at 13,086, France’s CAC 40 with an uptick of 4 points at 5,016 and Italy’s FTSE MIB up 43 points at 20,039. European stocks seem to establish a root similar to their Asian equivalents in wearisome trade today. The Asia Pacific stocks moved under in afternoon trade notwithstanding major indexes in the U.S scoring new records once again yesterday. U.S. markets were supported by China and the U.S. reopening trade discussions yesterday. The Office of the U.S. Trade Representative announced in a statement, that China and the U.S. made “progress and are committed to taking the steps necessary to ensure the success of the phase one trade deal”.
U.S. stock futures looking flat today
U.S. stock futures were limited in early trading today after the S&P 500 ended at a new record top. Dow futures fell 43 points. The S&P 500 futures contract remained just under the flatline while Nasdaq 100 futures exchanged in a positive area. Later in the week, the Federal Reserve will start its yearly conference covering monetary policy. Wall Street will scan for signs on further stimulus and where the economy is going.
Brent registered a positive move
Brent crude oil went higher today, boosted by U.S. producers closing down a large number of their offshore production in the Gulf of Mexico due to hurricane Laura and confidence over China-U.S. trade discussions. Brent crude oil futures totaled 8 cents, to $45.94 a barrel while U.S. West Texas Intermediate crude fell 2 cents, at $43.33 a barrel.
Gold looks flat ahead of Powell’s speech
Gold was flat today, while concerns covering global economic forecast equalized the stress from indications of improvement in U.S.-China trade discussions. That while investors anticipate a speech from Jerome Powell –the U.S. Federal Reserve Chairman.
Spot gold was even at $1,928.35 per ounce while U.S. gold futures surged 0.6% to $1,934.70.
The above content is considered to be market commentary information and shall not be perceived as independent investment research or investment advice.