Morning Minutes

US Returns To Trading as Month-End Approaches




US index futures are trading flat to up 1.6% this morning with NASDAQ futures leading the way higher. US investors have apparently returned from their Memorial Day in a positive mood responding favorably to news of a deal among top leaders and looking toward Congress for approvals.

European trading action is mixed with the Dax up 0.5% and the FTSE down 0.5%. Crude Oil is down 1.4% today but Gold is on the rebound, gaining 0.9% and trading back above $1.9875/oz.

Today is relatively quiet for news with the main event being US house prices at 9:00 am EDT. This week’s economic news kicks into gear tomorrow with China Manufacturing and Service PMI, Canada GDP and the US Beige Book regional economic report headlining. Earnings season resumes with results due from computer manufacturers Dell and HP.

Tomorrow is the last trading day for May, so we may see investors continue to position their portfolios for month-end and prepare for more economic news later in the week including PMI reports from around the world and US employment plus construction data.

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Colin Cieszynski, Chief Market Strategist

Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

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