The S&P 500 futures and the EURSXX50 index are trading marginally lower as markets open September after a stellar August performance, global markets had one of their best August on records led by the tech rich Nasdaq, up 9.6%, the S&P 500 up 7% while the German DAX closed the month up 5.73% and the Japanese NIKKEI closed August up 6.58%. Next on the agenda the historically weak September and the NPF numbers ahead of the Labor-day weekend this coming Friday. The dollar is trading at 27-month lows versus majors, the dollar index lost another 0.33% this morning and is trading lower at 91.85, down 4-months in a row. Gold and Silver are the beneficiaries of the dollar weakness, gold is higher by 1% and trading at $1,978 per ounce while Silver trades at $28.55 per ounce, up 1.55%. Oil is trading higher on markets optimism and the weaker dollar, up 1.13% to $43.12 per barrel this morning, pressured by the FED decision last week to loosen its inflation policy, making dollar priced commodities cheaper for global markets investors near term.
US ISM Manufacturing PMI at 10:00 am is the important news on the agenda Tuesday, (all times EST).
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The Nasdaq futures are looking at another all-time highs break after the split in the Tesla and Apple stock yesterday.
Gold prices are looking back at the 2K level after the dollar index took another downturn this morning.
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