The S&P 500 Futures is facing consolidation after rising just over 1% yesterday on growing optimism toward a faster-than-expected recovery of the global economy from the coronavirus pandemic.
Later today, the U.S. Initial claims without unemployment
(a decrease to 2,400 million expected), Markit U.S. Purchasing Leadership Index production (May preliminary reading, expected 39.5), existing home sales (an annual rate of 4.22 million units for April expected) and Conference Board Leading Index (-5.4% for the month of April expected) are reported. Markit May Manufacturing PMI is expected 39.5 and PMI’s Services PMI is expected 32.3.
The European indexes are announcing a consolidation. Research firm Markit has published the preliminary reading of the euro for manufacturing euro for the euro area at 39.5 (against expected 38.0), for Germany at 36.8 (against expected 39.4), for France at 40.3 (against expected 36.0) and for the UK. at 40.6 (against expected 37.2). Preliminary readings of PMI’s May Services for the euro area were also published for 28.7 (against expected 25.0), for Germany at 31.4 (against 26.0 expected), for France at 29.4 (against expected 28) , 0) and for the UK at 27.8 (against expected 24.0).
Asian indices closed red. This morning, official data showed that Japan had a trade deficit of 996 billion yen in April (projected 503 billion yen deficit), with exports falling 21.9% year-on-year (-22.2% expected) and imports slipping 7.2% (-13.2% expected).
WTI crude oil futures remain on the upward trend. USA. The Energy Information Administration (EIA) issued a weekly report May 15 stating that the U.S. Commercial crude oil stocks (excluding commodities in the Strategic Petroleum Reserve) decreased by 5.0M barrels from the previous week to 526.5 M barrels. Meanwhile, the U.S. Crude oil production fell to 11.5 M / b in d last week from 11.6 M b / d in the previous period.
Gold fell $ 14.39 (-0.82%) to 1733.8 as the US dollar strengthened. The dollar index rose 0.04pt to 99.16.
Snapshot of American capital
Expedia (EXPE), the online travel agency, revealed first-quarter adjusted LPS of $ 1.83, worse than expected, down from a $ 0.27 LPS a year ago for $ 2.2 billion sales, just above consensus, down from $ 2.6 billion last year. The company said it “accelerated and expanded” its “ambition to improve the long-term cost structure”.
Medtronic (MDT), a therapeutic medical device developer and manufacturer, reported fourth-quarter adjusted EPS down to $ 0.58, missing estimates, from $ 1.54 a year earlier. Sales fell 26% to $ 6 billion, also below forecasts.
Take-Two Interactive Software (TTWO), a leading global video game publisher, announced fourth-quarter adjusted EPS of $ 1.50, beating estimates from $ 0.78 a year ago on sales of $ 729.4 million, exceeding projections, up from $ 488.4 million in the same prior period. Still, the stock lost ground in expanded profit trading as sales growth seen last quarter may fade after the closure.
Best Buy (BBY), the consumer electronics retailer, unveiled same-store sales in the first quarter by 5.3%, breaking consensus. Adjusted EPS fell to $ 0.67 from $ 1.02 a year earlier, above forecasts.
L Brands (LB), a retailer of women’s apparel and beauty products, posted first-quarter adjusted LPS of $ 0.99, below estimates, compared to a $ 0.15 LPS a year ago, on $ 1.7 billion sales dollars, and also missing the forecast, down from $ 2.6 billion in the same prior year.
