S&P 500 Futures refresh record top above 4,200 as vaccine hopes add to post-NFP optimism
|- S&P 500 Futures stay on the front-foot while refreshing all-time high.
- NFP smashed chatters relating to Fed tapering, rate hikes.
- EU signs vaccine deal, Australia’s NSW is also up for Pfizer-BioNTech jabs soon.
- Mixed oil headlines and a light calendar keeps market less active.
S&P 500 Futures print four-day uptrend while refreshing record top with 2,738 during early Monday. Having rallied on Friday, due to huge disappointment from US employment figures defying the Fed tapering chatters, the risk-barometer benefits from the coronavirus (COVID-19) vaccine headlines from the European Union (EU) and Australia.
The EU managed to sign a heavy deal with one of the global covid jab leaders Pfizer-BioNTech after saying that around 30 Europeans are getting inoculated per second on Thursday. The vaccine delivery will enable the bloc to match the pace with the other developed nations like the US, the UK and Israel.
On the same line was Australia’s New South Wales which is up for getting the Pfizer-BioNTech jabs in a few weeks.
Furthermore, Iran’s surprise staying on the nuclear talk table with the US also suggests the fears of the rogue nation will be off in the future.
Meanwhile, Brexit jitters and the US Colonial pipeline cyberattack join the covid woes in Japan and India to test the market optimism.
As a result, the US dollar index (DXY) catches a breather around a 10-week low, flashed on Friday, while stocks in Asia-Pacific and the US 10-year Treasury yields remain on the positive side.
Looking forward, market sentiment needs to follow the US traders’ reaction to Friday’s Nonfarm Payrolls (NFP) as well as further upside over the virus and vaccine.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.