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Pres. Trump physical exam shows no significant changes
Wed, Jun 3, 2020 6:56 PM
Strong as an ox The White House physician is out saying that: The drug was of course the drug touted and taken by Pres. Trump to help prevent him from getting the Covid 19 virus. I wonder if he was part of
NYT: China cancel some US farmers shipments
Wed, Jun 3, 2020 6:19 PM
This according to maritime executives A senior Chinese shipping executive involved in China form imports said: The US stocks remain elevated with the Dow industrial average trading at new session highs at 26205.32, up 1.79%. The S&P index is trading up 38.6 points or 1.25% and is also at session highs. The NASDAQ index trades up 72
Trump, Biden nearly even in Texas Quinnipiac Poll
Wed, Jun 3, 2020 6:13 PM
152 days until election day In a Quinnipiac Poll in the state of Texas, Pres. Trump is leading Dem VP Biden, by 44% to 43%. . In 2016, Trump beat Hillary Clinton by a margin of 52.23% to 43.24%.
Minnesota Atty. Gen. to charge 3 other officers with aiding and abetting murder
Wed, Jun 3, 2020 6:00 PM
Raises charges against police officer Chauvin The Minnesota Atty. Gen. has charged the 3 other officers in the death of George Floyd with aiding and abetting murder. This according to the Star Tribune.
US CDC Covid 19 numbers for the day
Wed, Jun 3, 2020 5:58 PM
1045 new deaths as of yesterday For bank trade ideas, check out eFX Plus
Active duty troop brought to Washington DC are returning to home bases
Wed, Jun 3, 2020 5:33 PM
As riots subside, active duty troops return to home bases Pres. Trump announced on Monday that if the violence and property destruction did not stop, he would send US troops to cities to stop it including his home town Washington DC.
WHO chief scientist: No evidence that any drug reducing mortality of patients
Wed, Jun 3, 2020 4:10 PM
Runs counter to the implied talking points from Pres. Trump The WHO chief scientists is on the wires saying that: He adds nevertheless that: - experts advise the continuation of all forms of the solid parity trial including hydroxychloroquine srm There has been some leakage to the downside in the US stock indices of the last few minutes. The NASDAQ index is
Major European indices close with solid gains once again
Wed, Jun 3, 2020 4:06 PM
German Dax up 3.88% The major European indices closed higher for the 3rd day in a row this week. The German DAX (which was close on Monday but which rose over 3.5% yesterday) tacked on 3.88% in trading today to lead the charge.
New York Covid 19 virus deaths fall below 50 for the 1st time in 10 weeks
Wed, Jun 3, 2020 3:52 PM
The death toll comes in at 49 An further indication of the downward trend is that the death toll has been below 60 for the 4th consecutive day.
The trend in Florida cases is moving higher
Wed, Jun 3, 2020 3:08 PM
Cases rise by 2.3% vs 1.4% average of the last 7 days The fear from the reopening of the US economy is that there is a setback the number of cases that requires a re-thinking of the reopening. Trends like this will not be welcomed.
DOE crude oil inventories -2077K vs 3000K estimate
Wed, Jun 3, 2020 2:30 PM
The weekly Department of Energy inventory data - crude oil inventories -2077K vs. +300K estimate - gasoline inventories 2795K vs 300K estimate - distillates inventories 9934K vs 2900K estimate The private data yesterday showed:
US factory orders for April -13.0% vs. -13.4% estimate
Wed, Jun 3, 2020 2:00 PM
US factory orders for April 2020 - US factory orders -13.0% vs. -13.4% estimate - prior month revised to -11.0% from -10.3% - Factory orders ex transportation -8.5% vs. -4% revised (was at -3.7%) For bank trade ideas, check out eFX Plus
Bank of Canada leaves rates at 0.25%, as expected - scales back some market operations
Wed, Jun 3, 2020 2:00 PM
Highlights of the Bank of Canada decision The Bank of Canada has repeatedly emphasized that 0.25% is its effective lower bound and that it's not actively considering negative rates. There was no hint or expectation of a cut.
ISM nonmanufacturing index for May 45.4 vs. 44.4 estimate
Wed, Jun 3, 2020 2:00 PM
Highlights of ISM nonmanufacturing index for May 2020 - ISM nonmanufacturing index for May 2020 45.4 vs. 44.4 estimate. - The prior report was at 41.8 apart from the supplier deliveries, inventory sentiment and prices paid, the other major components remain below the 50.0 level.
US to suspend Chinese airline passenger flights starting June 16
Wed, Jun 3, 2020 1:57 PM
Chinese carriers will be blocked from the US Effective June 16, Chinese carriers will no longer be allowed to bring passengers to the United States, according to Reuters.
Markit May final services PMI 37.5 vs 37.3 expected
Wed, Jun 3, 2020 1:47 PM
Markit survey data The ISM non-manufacturing report is due at the top of the hour and is expected at 44.4 from 41.8 prior. For bank trade ideas, check out eFX Plus
Major indices open higher. Dow industrial average leads the way
Wed, Jun 3, 2020 1:35 PM
Dow stocks up for the 3rd day in a row A snapshot of the market a few minutes into the opening is currently showing: In other markets near the US stock market open:
US stock futures point to another day of gains
Wed, Jun 3, 2020 1:27 PM
Futures higher on the day S&P 500 futures point to a 17 point gain. The index finished at the highs of the day yesterday, up 25 points to 3080. The index is now less than 9% from an all-time high.
Gold falls for the second day as $1700 comes back into focus
Wed, Jun 3, 2020 12:59 PM
Gold falls out of favour We're in the post-pandemic, post-data world now; where the only thing that matters is Fed printing and massive deficits. Ultimately, that's a dream scenario for gold but at the moment there's no need for safety because equities go up every day, particularly in Europe where they're soaring.
Message from the charts
Wed, Jun 3, 2020 12:43 PM
What's the story in the charts For bank trade ideas, check out eFX Plus
Canada Q1 labor productivity +3.4% vs +2.0% expected
Wed, Jun 3, 2020 12:30 PM
Canada first quarter 2020 labor productivity For bank trade ideas, check out eFX Plus
ADP May employment -2760K vs -9000K expected
Wed, Jun 3, 2020 12:15 PM
ADP May employment data: These are far fewer job losses than expected but the market reaction has been close to nil. ADP has been having a tough time counting the losses. I'm not sure it tells us anything about Friday's non-farm payrolls report but if it does, it's a good sign.
ADP US employment coming up next
Wed, Jun 3, 2020 12:11 PM
May employment data from ADP up next The economic calendar kicks off today with ADP employment data for May. This survey has severely undercounted US unemployment so far but it's forecast to play some catch-up with 9m job losses forecast.
ForexLive European FX news wrap: Risk rally marches on, oil stumbles on OPEC+ issues
Wed, Jun 3, 2020 11:59 AM
Forex news from the European trading session - 3 June 2020 Headlines: Markets: - EUR leads, AUD lags on the day - European equities higher; E-minis up 0.4%
US MBA mortgage applications w.e. 29 May -3.9% vs +2.7% prior
Wed, Jun 3, 2020 11:02 AM
Latest data from the Mortgage Bankers Association for the week ending 29 May 2020 - +2.7% - Market index 717.7 vs 746.5 prior - Purchase index 296.0 vs 281.2 prior The drop mainly stems from a reduction in refinancing activity, but amid the low rates seen at the moment we have seen purchasing activity even rise to match