The S&P 500 and Nasdaq 100 futures set to open August higher by 0.55% and 0.6% respectively, extending the US markets monthly run to 14:2 since the coronavirus reversal of April 2020. EU markets are trading higher this morning and Asian markets closed their overnight session green, up 1.82% for the NIKKEI and 2.52% for the battered CSI 300. The Hang-Seng closed July with a stunning 8% loss and gained 0.82% overnight. The dollar is trading near the flat line this morning, at 92.06 versus majors, down 0.12% and down nearly 1% from July highs. Gold and Silver are trading near the flat line as well, Gold is trading at $1,808 per ounce, down 0.34% and Silver is trading at $25.32 per ounce, down 0.05%. Oil prices are trading lower this morning on concerns China economy and factory activity is slowing and OPEC+ is going to ramp production near term. Oil is trading at $73.11 per barrel, down 1.05%.
US ISM manufacturing at 10:00 am is the important news on the agenda Monday, (all times EST).
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US leading indexes are now a stunning 14:2, the ratio of green to red trading months since the covid reversal 16-month ago.
Despite a positive July, Gold prices continue to lagg global leading markets, trading is a range for the past 8-months.
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