S&P 500 Futures remain firm around mid-3,400s as US aid package talks intensify
|- S&P 500 Futures keep the previous day’s recovery moves amid stimulus hopes.
- Pelosi terms latest talks offering more clarity but McConnell probes expectations of early stimulus.
- Virus woes in Europe, allegations on the US President Donald Trump, Washington-Pyongyang tussle offer background music to the risks.
S&P 500 Futures ease from the intraday high around 3,450 to 3,446 during early Wednesday. Even so, the risk barometer prints a 0.40% gain on a day while cheering progress over the US coronavirus (COVID-19) stimulus talks.
US House Speaker Nancy Pelosi praised the latest round of relief package talks with Treasury Secretary Steve Mnuchin after both the policymakers missed the Tuesday-night deadline to have a deal. The Pelosi-Mnuchin discussions are up for a restart on Wednesday when Treasury Secretary Mnuchin returns from his Middle East trip.
It should, however, be noted that the Senate Majority Leader Mitch McConnell was recently spotted by CNBC’s Carl Quintanilla, via a tweet, while saying, “Mr. McConnell’s remarks, confirmed by four Republicans familiar with them, threw cold water on Mr. Trump’s increasingly urgent push to enact a new round of pandemic aid before Election Day.”
Other than the stimulus talks, COVID-19 problems in Europe and the UK join the latest likely tension between the US and North Korea to challenge the risk-tone. Spain is near to emergency while the UK also fails to cheer any positive results from the “Three Tier” lockdowns as global counts cross 40 million.
Against this backdrop, the US 10-year Treasury yields rise past-0.80% whereas stocks in Asia-Pacific print mild gains based on the stimulus hopes.
Looking forward, considering a light calendar, the equity derivative may track Wall Street’s performance while paying major attention to the US relief package negotiations.
Read: Wall Street Close: Bulls pull-out at last hour, benchmarks end off their highs
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.