10 09 US PRE OPEN

US Futures sliding - Watch GME, ZS, TIF

The S&P 500 Futures are back in the red after they rebounded yesterday, following a three-day decline.

Later today, the U.S. Labor Department will report July PPI (-0.3% on year expected) and initial jobless claims in the week ending September 5 (0.85 million expected). July Wholesales inventories are expected at -0.1% on month.

European indices are under pressure in mid-day trading. France's INSEE has posted July industrial production at +3.8% (vs +5.0% on month expected). The European Central Bank has kept its interest rates unchanged. ECB’s President Lagarde press conference is to follow.

Asian indices closed in the green. This morning, official data showed that Japan's core machine orders grew 6.3% on month in July (+2.0% expected).

WTI Crude Oil futures are posting a rebound. The American Petroleum Institute (API) reported that U.S. crude-oil inventories increased 2.97 million barrels in the week ending September 4. The U.S. Energy Information Administration (EIA) lowered 2021 world oil demand to 93.07M b/d from 93.14M b/d in the previous estimation, while global oil supply would decrease to 99.34M b/d from 99.37M b/d, according to its monthly Short Term Energy Outlook. Later today, EIA will release official crude oil inventories data for the same week.

Gold gained 0.94$ (+0.05%) to 1947.78 and remains within a tight range.

EUR/USD rose 31pips to 1.1834 as the ECB maintains its rates unchanged.

U.S. Equity Snapshot

GameStop (GME), the videogame retailer, reported a wider-than-expected loss per share of 1.71 dollar in the second quarter. Sales fell nearly 27% and missed estimates.

Source: GAIN Capital, TradingView

Zscaler (ZS), a security software firm, reported fourth quarter adjusted EPS of 0.05 dollar, beating the estimate, down from 0.07 dollar a year ago on revenue of 125.9 million dollars, also above the forecast, up from 86.1 million dollars in the previous year.

Tiffany & Co's (TIF): LVMH stated that it was no longer in a position to complete the $16 billion purchase of the luxury jewelry retailer, which has filed a lawsuit in the United States against the French group in order to force it to complete the acquisition.

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

StoneX Financial Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.cityindex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.

ALL TRADING INVOLVES RISKS. LOSSES CAN EXCEED DEPOSITS.

City Index is a trading name of StoneX Financial Pte. Ltd. (“SFP”) for the offering of dealing services in Contracts for Differences (“CFD”). SFP holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore for Dealing in Exchange-Traded Derivatives Contracts, Over-the-Counter Derivatives Contracts, and Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading. SFP is also both Derivatives Trading and Clearing member of the Singapore Exchange (“SGX”). SFP is a wholly-owned subsidiary of StoneX Group Inc.

The information provided herein is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to invest, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk.

The information does not represent an offer of, or solicitation for, a transaction in any investment product. Any views and opinions expressed may be changed without an update. To understand the risks and costs involved, please visit the section captioned “Important Information” and the “Risk Disclosure Statement”.

The information herein is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation.

StoneX Financial Pte. Ltd. 1 Raffles Place, #18-61, One Raffles Place Tower 2, Singapore 048616. Tel: 6309 1000. Co. Reg. No.: 201130598R.

This advertisement has not been reviewed by the Monetary Authority of Singapore.