• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed


21:17 IST

U.S. stocks are set to open higher Monday, with investors optimistic over the approach of company earnings and economic data, despite the continuing unabated growth of coronavirus cases.

US Indices futures were trading in the positive territory before the market opens on Monday. S&P 500 futures were trading 0.69% higher at 3200.38, Nasdaq 100 futures were up 0.87% at 10932 and the Dow futures contract rose 0.71% to 26,161, at the time of writing.

U.S. equity markets have posted strong gains since the depths of March, helped by better-than-expected economic data and extraordinary fiscal and monetary aid from the U.S. authorities.

Pepsi kicked off the second-quarter earnings season on a bright note. Pepsi Co gained 2.1% as it benefited from a surge in at-home consumption of salty snacks such as Fritos and Cheetos during lockdowns. The strong results offered some cheer as investors. Pepsico declined to give a financial outlook for the year, but its reassurance on shareholder payouts helped lift the stock 2.1% in premarket trading.

With this in mind, confidence surrounds this upcoming earnings season, despite the S&P 500 index being expected to report second-quarter earnings some 45% below the numbers seen in the same quarter last year.

Goldman Sachs has become a little more optimistic on earnings prospects this year, lifting its baseline forecast for S&P 500 earnings per share in 2020 to $115, up from a prior estimate of $110.

This optimism persists despite the Covid-19 virus continuing to claim victims – the state of Florida registered over 15,000 new cases on Sunday, more than hard-hit New York state at the peak of its crisis in April. The U.S. has reported more than 60,000 new cases daily for three days in a row now, bringing the national total to more than 3 million cases, according to data from Johns Hopkins University.

Recent economic data, however, has pointed to a revival in business activity, helping the Nasdaq 100 clinch its sixth record close in seven weeks on Friday as broader markets rose on positive data from Gilead’s potential COVID-19 treatment.

On the technical front, the RSI is currently at 75.24% and suggests that the market can move in an upward direction. The current price is trading above all the Moving Averages. The current price is above the middle band of the Bollinger Bands and is heading upwards. The stochastic is forming an upside crossover.

Overall Bias is Positive and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

Trade Suggestion-NASDAQ-Buy At 10,933 Take Profit At 11,200 Stop Loss At 10,830

Leave a Reply

Your email address will not be published.

Hi Please share contact detail & write any comments below, our team will try to call soon.