The S&P 500 and Nasdaq 100 futures are trading sharply lower this morning as investors are finally taking profits off the table from all-time highs on growth worries and fears of another Covid-19 wave of lockdowns. EU markets are trading sharply lower as well, the EURSX50 is lower by 2.22% and the DAX is lower by 1.8%. Asian markets traded lower overnight, led by a sharp 2.89% selloff in the Hang Seng index and a 1.02% loss for the CSI 300, both are now the worst performing leading markets over the past 12-months. The JPY is gaining in the FX markets as traders move to safety, up more than 2% versus the AUD while the US dollar is trading near the flat line, at 92.51 versus majors, down 0.11%. Gold and Silver are gainers in the move to safety, Gold trades at $1,815 per ounce this morning, up 0.8%, and Silver trades at $27.97 per ounce, up 0.35%. Oil prices are moving lower again this morning, losing for the 3rd day in a row this week as investors fear Covid fourth wave may temper with global growth and 2021 demand expectations. Oil trades at $71.71 per barrel, down 0.66% this morning and lower by 8% from the $77 level, 2021 highs.
US Unemployment Claims at 8:30 am and Oil Inventories at 10:30 am are the important news on the agenda Thursday, (all times EST).
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US futures are trading lower this morning as investors take profits off the table at all-time highs.
OIL trades sharply lower from 3-years highs as investors fear another wave of Covid restrictions, prompting some move to safety in Gold and the Japanese Yen.
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