Blogs

S&P 500 gives it all back The S&P 500 opened 1% higher but it's now down 0.3% in a quick turnaround. Tech is leading the way lower and the Nasdaq is down 1.6%, led by stay-at-home and virus names.

Service sector survey from the Dallas Fed It's a better sign but still deeply negative. We know that we're heading towards some kind of recovery, but the strength of it is the big question.

May Richmond-area manufacturing survey See here for global coronavirus case data

Sharp drop in North American trade The Australia dollar completed the coronavirus comeback yesterday as it completely recouped the March-April decline to trade back to where it was in mid-February.

Futures higher US stock futures point to a 35 point gain, following a 36-point rally on Tuesday. US stocks sagged late yesterday but the mood recovered overnight and the index will break 3000 and the 200-day moving average once again.

Gold falls to the low of the day Gold sank through $1700 and continued down to a session low of $1694 in a $16 decline. It's the third day of selling this week and is being helped along by a strong dollar today.

Audio recap of what's moving the euro Stocks continue to extend the recovery run off the March low, while the US dollar continues to sell off. While the SPX500 is busy breaking back above 3000, the euro is also doing its thing, making a move back through key short term resistance at 1.1000.

June 30 deadline in focus The EU insists that if the UK wants to extend Brexit transition talks that it will have to ask before June 30. UK negotiator Frost said they're only a week or two behind and that they will not extend the transition.

Canadian building permits data for April 2020 See here for global coronavirus case data

What's coming up in North American trade The US economic calendar features the Richmond Fed at 10 am (1400 GMT) and the Beige Book at 2 pm ET (1800 GMT). The risk trade, political headlines and Hong Kong are going to be the focus.