S&P 500 Futures stretch recovery from one week low as vaccine expectations gain momentum


  • S&P 500 Futures rise 10 points, or 0.30%, while extending pullback from the lowest since November 13.
  • Vaccine hopes rise as Regeneron’s anti-body treatment gets FDA’s go, Pfizer up for getting UK’s green light this week.
  • US President-elect Biden starts forming the team before reaching the White House.
  • UK, France and Australia are among the nations likely to ease the covid-led activity restrictions.

S&P 500 Futures probe the intraday high of 3,565.88, up 0.31% on a day, amid the Asian session on Monday. The risk barometer recently picked up bids as optimism concerning the coronavirus (COVID-19) vaccine/treatments joined expected easing in the lockdown measures from the key economies.

Having heard about the 95% success rate of Pfizer’s covid vaccine and US President Donald Trump’s recovery after taking the Regeneron’s antibody treatment, news that the US Food and Drug Administration (FDA) approved the COVID-19 therapy added to the market’s optimism. Also favoring the risks could be the hints that Pfizer will get the UK’s regulatory approval by the end of this week.

Further, easing of coronavirus-led activity restrictions in the UK, France and Australia are additional positives for the risks.

It should also be noted that US President-elect Joe Biden’s activity to form the team before the current President Donald Trump accepts his defeat also favors the risk-on mood. Bloomberg recently mentioned that the Democratic member is up for announcing Antony Blinken as secretary of State while naming Jake Sullivan as a National Security Adviser.

On the contrary, a sustained rise in the US hospitalizations and the tussle between the US Federal Reserve and Treasury Department, over $500 billion’s recall by Treasury Secretary Steve Manuchin, also probes the optimists. Additionally, Brexit uncertainties and doubts over the US COVID-19 stimulus also raise worries for the market players.

That said, traders can keep their eyes on the preliminary readings of November’s activity numbers from Markit for fresh impulse. However, risk catalysts can keep the driver’s seat.

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

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD hits fresh two-month highs amid dollar weakness

EUR/USD has hit new two-month highs above 1.1940 as the dollar resumes its decline. Optimism about the US transition and covid vaccines is weighing on the safe-haven dollar. 

EUR/USD News

GBP/USD falls toward 1.33 amid Brexit acrimony

GBP/USD is falling toward 1.33 as both the EU and the UK are busy blaming each other for an impasse in Brexit talks. The thorny issues remain fisheries, governance and setting a level playing field.

GBP/USD News

XAU/USD attempting to bounce up from $1,775 low

Gold futures accelerated heir downtrend from last week highs near $1,900, breaking below the 200-day SMA, at $1,800 area, to hit its lowest prices in nearly five months, at $1,775.

Gold news

Dollar offered ahead of the weekend

Equities are finishing the week on a firm tone, while the US dollar remains heavy. In the Asia Pacific, only Australia and India did not end the week on a firm note.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex MAJORS

Cryptocurrencies

Signatures