S&P 500 futures: Turning positive after the Fed unleashes $2.3 trillion loan programs

Yohay Elam FXStreet

US stock futures are pointing to a positive open, flipping from implying drops after the Federal Reserve unleashed several new lending schemes worth $2.3 trillion, in addition to previous programs.

One scheme is a Main Street facility worth $600 billion and another is for buying municipal bonds up to $500 billion. It is expanding the primary and secondary corporate debt facility.

S&P eMinis are up 20.5 or 0.75% at the time of writing. They are above 2,760 after hovering around 2,720 earlier.

Gold prices are also on the rise while the dollar is down.

Earlier, jobless claims jumped by over 6 million, worse than had been expected. Jerome Powell,m Chairman of the Federal Reserve, will speak later on.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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