Thursday August 13, 2020 Trading Desk: (312) 236-8907
TODAY’S GAME PLAN: from the trading desk, this is not research
DATA/HEADLINES: 8:00ET Jobless Claims; 11:00ET Fed’s Bostic speaks; 1:00ET 30 Year Bond Auction; 3:00ET Fed’s Brainard speaks
Nancy Pelosi is scheduled to hold a press conference at 10:45ET.
TODAY’S HIGHLIGHTS:
- Germany Reports Biggest COVID-19 Tally In 3 Months As Outbreaks Spread All Over The Country
- A third of recovering coronavirus patients continue to suffer physical or neurological effects link
- TRUMP SAYS CORONAVIRUS AID TALKS BEING HELD UP OVER POST OFFICE MONEY
- TRUMP SAYS DEMOCRATIC DEMAND FOR ELECTION FUNDING IN COVID-19 AID BILL ALSO AN ISSUE HOLDING UP TALKS
- TRUMP SAYS HE WOULD REDUCE CAPITAL GAIN TAX TO 15% IN A SECOND TERM
Looters in Chicago hang on to stolen televisions while driving away on the expressway
EQUITIES:
US Index futures edged lower with European stocks while stimulus talks in Washington remained deadlocked after the S&P500 closed within 0.2% of its all-time high on Wednesday. The chances of a big fiscal stimulus package seem more distant after House Speaker Nancy Pelosi rebuffed an “overture” from Treasury Secretary Mnuchin to restart talks because the White House hadn’t budged on demands for a smaller package. Cisco Systems led decliners in premarket trading down 6.8% after the networking giant topped revenue forecasts in the fiscal fourth quarter but issued a weaker-than-expected sales outlook.
E-Mini S&P is down 0.1%, Nasdaq +0.2%, Russell 2000 futures -0.2%, Dow futures -0.1%. SPX has initial key resistance at 3369. ES has initial support at 3358 – 3343 area.
