US indices point to greater openness against the backdrop of better corporate and economic data and lessening fears about the deadly virus in China. Oil is cheaper for the fourth consecutive day.
Intel Corp leads the NASDAQ premiere rally after the company expects revenue to rise. The US dollar remains higher than its main competitors, and today we expect production PMI data for the US.
Shares are again close to their previous record, backed by better-than-expected company reports, and economic data show a recovery in the global economy. Traders still keep one in mind about the possible worsening of the virus situation.
The pound remains weak, wiping out its earlier rally after stronger PMI data. The pound played the data, but the chances of a rate cut also diminished, which gave the weight a southward direction.
S&P500’s futures are up 0.2%. On NASDAQ by 0.3%, as well as on Dow Jones.
Gold remains weak with a fall of 0.3%.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
Trader Martin Nikolov