US S&P 500 futures are lower by 0.6% and Nasdaq futures are lower by 1.19% this morning as US investors fear the upcoming earnings are meeting the Nasdaq at all-time highs and US stimulus programs are running down. On top of that the Chinese CSI 30 index lost 4.81% overnight and may signal an aggressive pullback in US equities as well. EU markets are lower by 0.63% on average after the ECB press conference did little to reassure investors, leaving rates and the stimulus program unchanged. The dollar is stronger by 0.44% this morning, trading at 96.11versus majors, as investors look to the dollar in wake of the pullback in equity markets near term. Gold is lower on the stronger dollar, trading at $1,807 and down 0.45% while Silver futures are at $19.65 per ounce, down 0.66%. Oil is trading at $40.8 per barrel after a sluggish move over the past 24-hours, positive news showed a big drawdown in US inventories while OPEC+ suggests an ease in supplies 2led by Russia. Prices are flat over the last 24-hours, trading bellow the $41 level this morning.
The ECB press conference and Euro Rate at 7:30am, and US Retail Sales and Fed Philly Manufacturing index at 8:30 am, are the important news on the agenda Thursday, (all times EST).
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Oil will be in focus for investors this week, under scrutiny for more corona cases and OPEC + meetings, as investors look at OPEC+ supply levels and demand in the US near term.
The selloff in the Chinese CSI 30 index may trigger a move lower in Nasdaq shares as well.
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