The S&P 500 and Nasdaq 100 futures are trading lower for the third day in a row from all-time highs levels following the release of the FOMC meeting minutes from 2 weeks ago, yesterday. The semi hawkish FED tome over tapering spooked investors and sent US markets and EU markets sharply lower this morning. Asian markets traded lower overnight as well, the Hang Seng lost 2.13%, the NIKKEI closed lower by 1.1% and the CSI 300 lost 0.66%. The dollar is trading at 5-month highs versus majors, gaining nearly 1% versus and AUD and CAD over the past 24 hours. Gold and Silver are trading near the flat line on the stronger dollar, Gold is trading at $1,790 per ounce, up 0.32% and Silver is trading lower by 0.4%, at $23.23 per ounce. Oil prices are trading sharply lower this morning as well, down 3.3% to $66.07 per barrel, following the release of the Inventories numbers yesterday, which revealed an increase in US gasoline stockpiles by 600K versus a 2,000K drop expected. Investors also worry about the Covid-19 new variants effect on consumption as demand is likely to drop following the labor-day weekend and the slower China growth. Oil prices are closing on their sixth day in the red in a row, losing nearly 8% in the process.
US Philly Fed Manufacturing Index and Unemployment claims at 8:30 am are the important news on the agenda Thursday, (all times EST).
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US futures are lower for the third day in a row this week, as investors didnt like the hawkish Fed tone as revealed in the FOMC meeting minutes.
EU leading indexes are down 2% this morning on FED tapering worries, the slower China growth and Covid variants spread.
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