S&P 500: Futures catch a breather around multi-week top below 3,300

S&P 500 Futures seesaws in a choppy range between 3,283 and 3,291.
Risk-tone sentiment remains positive amid vaccine hopes, ignores US policy deadlock.
Updates concerning the virus, the American fiscal stimulus remain as the key catalyst.

S&P 500 Futures stay mostly unchanged near the previous day’s close around 3,290 amid the initial hour of Tokyo open on Tuesday. The risk barometer refreshed the highest levels since February 24 on Monday.

The move could have gained clues from upbeat performance technology giants while also cheering upbeat US data. Further, US President Donald Trump’s optimism concerning the coronavirus (COVID-19) vaccine adds to the broad optimism.

On the contrary, warnings from the World Health Organization (WHO) join the lack of agreement among the American Congress members for jobless claim benefits to challenging the market sentiment. Also acting as the market-negative catalyst is strict lockdown measures in Australia’s Victoria and the latest headlines from Global Times suggesting China will expel US journalists in Hong Kong.

Amid all these catalysts, Japan’s Nikkei gains near 1.5% to 22,532 whereas the US 10-year Treasury yields take rounds to 0.56% as we write.

Although Aussie data and RBA can entertain Asian traders, major attention will be given to how the US policymakers unveil details of the much-awaited fiscal package. Further, second-tier American data and global combat with the COVID-19 can also entertain the traders. It should also be noted that a slew of earnings reports from the key US enterprises will also direct the S&P 500 Futures.

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.