S&P 500 Futures print mild gains amid quiet session in Asia

  • S&P 500 Futures catch a breather after the biggest run-up in a month.
  • Stimulus, vaccine optimism joins upbeat data to favor the bulls.
  • Fears of covid variant from Brazil, US-China and Washington-Tehran tussles test the bulls.
  • US virus relief package, UK budget headlines will be key, Treasury yields moves should be observed too.

S&P 500 Futures hold 3,900, currently around 0.13% to 3,904, during Tuesday’s Asian session. The risk barometer marked a stellar run-up the previous day market sentiment improved over the hopes of a faster recovery from the coronavirus (COVID-19) pandemic.

Although policymakers in the US and the UK are ready to provide the much-awaited fiscal relief measures, the final announcement is yet to be unveiled, which in turn probes the risk-on mood recently.

Also challenging the sentiment could be the fears of the Brazilian variant of the COVID-19 as well as readiness to keep the pressure on China by US President Joe Biden’s pick for the US Trade Representative (USTR) Katherine Tai.

Furthermore, the US is rolling its sleeves for fresh sanctions on Russia and challenges the market mood amid a dull day. “The United States is expected to impose sanctions to punish Russia for the poisoning of Kremlin critic Alexi Navalny as early as Tuesday, two sources familiar with the matter said on Monday,” said Reuters.

Amid these plays, US 10-year Treasury yields stay depressed above 1.40%, currently down 2.4 basis points to 1.42%, whereas stocks in Asia-Pacific also await fresh clues while keeping the previous day’s upbeat performance.

Looking forward, the RBA monetary policy meeting, German Retail Sales and Canadian GDP are likely to decorate the calendar. However, major attention will be given to updates concerning the American and the British covid stimulus updates and virus news.

Also read: Wall Street Close: Stocks surge as focus returns to positive stimulus, pandemic 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.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD attempts recovery above 1.1950 as US dollar bounce fizzles

EUR/USD is attempting a recovery above 1.1950 ahead of the European open, as the US dollar’s rebound falters amid persistent weakness in the Treasury yields. Easing concerns over EU's covid vaccines rollout and dovish Fed expectations underpin the spot.


GBP/USD recovers to 1.3850 as UK’s optimism offsets USD bounce

GBP/USD recovers to 1.3850, picking up fresh bids heading into the London open. The cheers the UK’s advantage of faster vaccinations and unlock guidelines to shrug off the US dollar’s bounce off late the lowest since late March.


Gold gathers strength to test $1800 as USD remains vulnerable

Gold remains on track to challenge the $1800 barrier. The yellow metal extended its two-day winning streak to reach fresh two-month highs at $1784 on Friday, recording the second straight weekly gains. The USD recovery appears shallow amid subdued Treasury yields.

Gold News

Bitcoin network hash rate drop may not have caused BTC price crash

China’s prominent regions for Bitcoin mining have suffered an electrical grid blackout, causing Bitcoin’s hash rate to decline. Bitcoin price crashed over the weekend, coinciding with the drop of the network’s hash rate.

Read more

S&P 500 Week Ahead: Banks beat the street, COIN booms as funds flow to ETFs

Equity markets continue to remain bolstered from all sides as the macro environment produces strong numbers, earnings continue to smash estimates and inflation concerns take a back seat. Earnings season switches from bank stocks to reopening plays.

Read more