Good morning traders, we had an eventful overnight session with Trump trade adviser Peter Navarro announcing the trade deal between the US and China was “over,” which saw a dip lower in markets. Shortly after, President Trump tweeted that the deal is “fully intact”. Navarro then retracted his statement claiming that it was taken out of context. Equities in the overnight Asia session were green across the board with the Nikkei up by 0.9%.
So far this morning… EUROZONE Markit Manufacturing PMI Flash JUN 46.0 (Vs 39.4 In May).
EUROZONE Markit Services PMI Flash JUN 47.3 (Vs 30.5 In May)
EUROZONE Markit Composite PMI Flash JUN 47.5 (Vs 31.9 In May)
UK Markit/CIPS Manufacturing PMI Flash JUN 50.1 (Vs 40.7 In May)
UK Markit/CIPS UK Services PMI Flash JUN 47 (Vs 29.0 In May)
UK Markit Composite PMI Flash JUN 47.6 (Vs 30 In May)
Looking ahead we have US PMI’s at 2:45 pm.
Here is your lunchtime update-
European equities are green across the board so far today with the DAX the biggest mover:
FTSE 100 +1.08%, 6,349
DAX +2.63%, 12,584
EURO STOXX 50 + 1.66%, 3,313
In FX markets the USD is weaker across the board, with only the GBP and JPY down against the currency.
US markets have all opened strongly with the Nasdaq leading the way up by 1.2%.
Nasdaq +1.22%, 10,130
S&P 500 +0.85%, 3,144
Dow Jones Industrial Average +0.94% 26,285
Spot gold has also broken higher above the strong $1760 level, trading at $1766.
In FX markets the USD continues to weaken with the EURUSD now trading at 1.1326.
Elsewhere the CBOE Volatility Index (VIX) has hit its lowest level since the 10th of June.
US Markit Manufacturing PMI Flash at 49.6 (vs 39.8 in May)
US Markit Services PMI Flash June at 46.7 (vs 37.5 in May)
US Markit Composite PMI Flash June 46.8 (vs 37 in May)
Royal Caribbean Cruises have announced an extension of its sailing suspension through till Sept 15th 2020.
Canada sailings will be suspending until October 31st 2020.
Here are some of the biggest US stock movers so far today:
Translate Bio (NASDAQ:TBIO) +42.42%
Kitov Pharma Ltd (NASDAQ:KTOV) +52.54%
Urban One Inc (NASDAQ:UONE) 22.68%
Sunesis Pharmaceuticals (NASDAQ:SNSS) -38.05%
Hertz Global Holdings (NYSE:HTZ) -18.21%
Luckin Coffee (NASDAQ:LK) -17.30% (have been sent another de-listing notice)
A solid day for European equity markets:
DAX + 2.3%
FTSE 100 +1.3%
EURO STOXX 50 + 1.9%