S&P 500 Futures wobble around 3,700 as US stimulus news combat Brexit, virus woes
|- S&P 500 Futures snap four-day winning streak despite intermittent bounces on the US stimulus news.
- US policymakers near to announcing official details of covid aid package, passed one-day stopgap funding.
- Brexit extension chatters come back to the life, new variants of covid pushes Europe, Turkey and Canada to stop UK travels.
S&P 500 Futures mark a volatile session during Monday’s Asian hours. The chatters over the final version of the US coronavirus (COVID-19) stimulus bill join the passage of a one-day stopgap funding to keep the risks afloat despite fears of the outbreak of a new covid variant from the UK. Also challenging the market sentiment could be the fears of an extension to the Brexit deal talks as the European Union (EU) and the UK aren’t yet final over the deal.
Although Capitol Hill asked one more day to finish writing and vote on the $1.4 trillion omnibus and the $900 billion COVID-19 relief bill, passage of a one-day stopgap funding keeps the risks mildly positive. The mood also favors the US dollar to extend its bounce off April 2018 low marked last Thursday.
Elsewhere, EU Chairman of the Foreign Affairs Committee David Callister mentioned in a tweet that the European Parliament will not be in a position to grant consent to an agreement this year. The differences over fisheries and level playing field could be heard in the latest chatters.
It should also be noted that Canada recently joined a few of the European countries and Turkey to suspend flights with the UK to avoid witnessing a new variant of the virus.
Amid these plays, stocks in Asia-Pacific remain mostly downbeat, except for China, whereas the US 10-year Treasury yields drop two basis points to attack 0.90%.
Looking forward, Brexit and the covid headlines can entertain the market players during the early European session while the US policymakers’ update on the aid package will be in the spotlight afterward.
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.