S&P 500 Futures track Wall Street losses amid virus resurgence

S&P 500 Futures extend the previous day’s losses towards 4,100.
Global covid infections jump, led by India, Western leaders keep tight controls on national borders.
J&J’s support during investigation of blood clotting and Israel’s purchase of Moderna booster fail to recall bulls.
Light calendar will keep risk catalysts on the driver’s seat.

S&P 500 Futures hold lower ground near 4,125, down 0.10% intraday, during early Wednesday. In doing so, the risk barometer follows the US equity market’s losses amid the coronavirus (COVID-19) fears while ignoring the recently upbeat vaccine developments.

With the 12% jump in weekly news infections, not to forget record rally in India’s covid cases, the US tightens border with Canada while the UK also puts multiple counties, New Delhi included, in its “no travel” list. Further, the virus resurgence also pushes Japan towards another emergency in Tokyo and surrounding prefectures.

Read: Coronavirus Update: India leads run-up in global infections, Japan to recall emergencies in Tokyo, Osaka and Hyogo

Alternatively, Johnson & Johnson (J&J) is up for cooperation during the investigation over blood clotting problems following the covid vaccine by the firm. Earlier in the week, the US Health Expert Dr. Anthony Fauci cited optimism from J&J vaccine news to arrive by this Friday. Elsewhere, Israel continues to heavily vaccinate the nationals and recently bought booster shots from Moderna.

Even so, Wall Street benchmarks dropped for the second consecutive day on Tuesday while the US 10-year Treasury yields extend the previous day’s recovery moves by the press time. Furthermore, stocks in Asia-Pacific are also on offer so far during Wednesday.

Looking forward, the UK’s inflation and the Bank of Canada (BOC) monetary policy meeting may offer intermediate entertainment to the markets but major attention will be given to the virus updates. It should be noted that the US-China and the Russia- Ukraine tussles are also important to watch even if they’re mostly ignored off-late.

Read: Wall Street Close: Pandemic woes keep benchmarks red for second day

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.