US S&P 500 and Nasdaq futures are trading marginally higher and EU markets are near the flat line after the unemployment claims came slightly better than expected this morning. US S&P 500 futures are less than 1% away from all-time highs reached 7-months ago and the Nasdaq futures are trading near record breaking levels as well. With the earnings season on the back mirror, investors are looking ahead to the next stimulus plan to be approved by the Trump Administration as we approach September. Asian markets traded a mixed session overnight, led by strength in the NIKKEI after another selloff day for the JPY, closing at 2020 highs and up 1.78% on the day. The dollar index traded lower versus majors other than the JPY, losing overnight 0.32% and trading at 93.14 this morning. Gold and Silver turned higher after the big selloff day Tuesday, trading at $,913 and $26.1 respectively, marginally positive for the day. Oil prices are trading at $42.75 this morning, up 0.2% on the day after the Inventories numbers report yesterday showed a drawdown in US inventories, showing a better than expected global demand despite a projected demand forecast by the EIA this morning than expects a cut in 2020 demand over travel restrictions and lower global consumption.
US Unemployment Claims at 8:30 am and is the important news on the agenda Thursday, (all times EST).
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S&P 500 futures are a tad from all-time highs levels this morning, last reached 7-months ago.
The JPMorgan bet on the US dollar is working versus the JPY, the dollar is lower versus majors yet is trading sharply higher this week versus the slumping “safe heaven” Yen. The JPY trade is up 4-days in a row this week.
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