U.S. equity index futures were higher this morning. S&P 500 futures were up 59 points in pre-opening trade. U.S. election results for the Presidency and Senate are too close to call.
Index futures were virtually unchanged following release of the U.S. October Trade Deficit at 8:30 AM EDT. Consensus was a deficit of $66.10 billion versus $67.10 billion in September. Actual was a deficit of $63.9 billion.
The Canadian Dollar was virtually unchanged at U.S.76.07 cents following release of Canada's October Trade Deficit at 8:30 AM EDT. Consensus was a deficit of $2.00 billion versus $2.45 billion in September. Actual was a deficit of $3.25 billion.
Stifel Nicolaus raised its target on the S&P 500 Index from 3,100 to 3,800.
Wendy's slipped $0.58 to $22.56 after reporting less than consensus third quarter revenues.
Cameco (CCO $12.79 Cdn.) is expected to open lower after reporting lower than consensus third quarter earnings.
Advanced Micro Devices gained $2.71 to $79.29 after Goldman Sachs upgraded the stock from Neutral to Buy.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/11/03/stock-market-outlook-for-november-4-2020/
Note seasonality charts on the TSX Composite relative to the S&P 500 Index.
Technical Notes Yesterday
Far East equity markets and related ETFs are leading world equity markets on the upside. They have avoided most of the impact of COVID 19. Japan iShares moved above $59.79 and $59.89 to a 33 month high.
Taiwan iShares are testing their all-time high at $46.81
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 3rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 3rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 3rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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