US PRE MARKET
The S&P 500 Futures are trading at 2,423.38 for up with +0.04% percent or +0.88 point. Other U.S. stock futures are lower in pre-market trading for Monday, July 10. The Dow Futures are trading at 21,356.50 for up with +0.44% percent or +94.30 point. The Nasdaq Futures are trading at 5,668.25 with up with +0.22% percent or +12.50 point.
MONDAY’S FACTORS AND EVENTS
The weekend news flow has been squarely on the G20 meeting in Hamburg, and while the meeting has been focused on frosty relations we can see USD/JPY (if we use this as a proxy for risk) opening the new week on a flat note. This provides some confidence S&P 500 and US crude futures should open largely unchanged, although crude does have the benefit of a seven rig increase (to 763 rigs) in the weekly Baker-Hughes oil rig count.
Looking ahead, traders will continue to watch fixed income like a hawk for further knock-on effects into FX and equities, specifically with Fed governor Leal Brainard (Wednesday at 02:00 aest) due to speak on monetary policy and Chair Janet Yellen set to aggregate the backdrop into (hopefully) a somewhat clearer playbook in her two-day semi-annual testimony to Congress starting on Wednesday at 22:30 aest.
FRIDAY’S ACTIVITY
U.S. market were higher on Friday. For the day The S&P 500 closed at 2,425.18 for up with +0.64% percent or 15.43 point. the Dow Jones Industrial Average closed at 21,414.34 for up with +0.44% percent or +94.30 point. The Nasdaq Composite closed at 6,153.08 for up with +1.04% percent or +63.61 point.
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,415.84 for up with +1.07% percent or +15.02 point; the S&P 600 Small-Cap Index closed at 854.73 for up with + 1.14% percent or +9.66 point; the S&P 400 Mid-Cap Index closed at 1,747.36 for up with +0.96% percent or +16.61point; the S&P 100 Index closed at 1,068.65 for up with +0.56% percent or +5.90 point; the Russell 3000 Index closed at 1,437.11 for up with of +0.70% percent or +9.95 point; the Russell 1000 Index closed at 1,343.78 for up with +0.67% percent or +8.90 point; and the Dow Jones U.S. Select Dividend Index closed at 21,414.34 for up with +0.44% percent or +94.30 point.
WORLD MARKETS
In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 are trading at 20,080.98 for up with +0.76% percent or +151.89 point. Hong Kong’s Hang Seng are trading at 25,500.06 for up with +0.63% percent or +159.21 point. China’s Shanghai Composite are trading at 3,212.63 with a loss of -0.17% percent or +5.32 point. India’s S&P BSE Sensex are trading at 31,715.64 for up with + 1.13% percent or +355.01 point at 12:15 PM.In Europe, the FTSE 100 are trading at 7,347.43 with a loss of –0.05% percent or –3.64 point. Germany’s DAX are trading at 12,425.94 for up with +0.29% percent or +36.32 point. France’s CAC 40 are trading at 5,151.92 for up with +0.13% percent or +6.76 point. The Stoxx Europe 600 are trading at 381.00 for up with +0.22% percent or +0.81 point.