The S&P 500 and Nasdaq futures are marginally lower from all-time highs levels and the EURSXX50 index is down 0.5% ahead of the FED Chairman Powell Jackson Hole speech at 9:10 am EST. Asian markets also traded lower from 2020 record highs levels overnight, the NIKKEI lost 0.35% and the Hang Seng index traded lower by 0.85%. FX markets are trading a flat session as well, the dollar index is up 0.02% at 93 and most FX markets are trading a narrow range low volume summertime session. Gold and Silver are marginally lower in overnight trading, Gold trades lower by 0.41% at $1,940 per ounce this morning, and Silver trades at $27.04 per ounce, lower by 0.62%. Oil is trading another flat session as well. Hurricane Laura makes landfall on the Gulf of Mexico this morning. Oil is trading at $43.11 per barrel as demand worries offset the Gulf of Mexico production shutdowns caused by the Hurricane Laura, worth more than 1.5 million barrels per day, nearly 12% of US total daily production.
US GDP and Unemployment Claims at 8:30 am, FED Chairman Powell speech at 9:10 and US Home Sales at 10:00 am are the important news on the agenda Thursday, (all times EST).
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The S&P 500 broke to another all-time highs record level yesterday and trades marginally lower this morning ahead of Fed Chairman speech at 9:10 am EST.
Gold prices are forming a “bull-flag” intraday pattern awaiting FED Chairman Powell speech today.
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