US stocks futures rising in Asia, a sign of a bullish start to week
- Futures in S&P 500 adds 0.2%, the Nasdaq 100 futures rise 0.3% and the DJIA is higher by 80 points.
- House Speaker Nancy Pelosi said another coronavirus stimulus plan is possible.
US Stock futures are perky at the start of the week in Asia with futures on the S&P 500 adding 0.2%, the Nasdaq 100 futures rose 0.3% and the DJIA higher by 80 points.
The moves are promising considering the terrible performance of the indexes of late wit bit the S&P 500 and the Dow ending in a fourth straight negative week on Friday and the first time since August 2019 that the two indexes have suffered such a losing streak.
The tech-heavy Nasdaq eked out a 1% gain last week, posting its first positive week in four as the technology sector rebounded slightly from the recent deep rout.
As argued in the following weekly analysis for the S&P 500, the signs that there are still chances of a further fiscal stimulus bill before the election day could give stocks a boost to start the week.
Earlier today, House Speaker Nancy Pelosi said another coronavirus stimulus plan is possible.
House Democrats are seeking to forge a smaller aid package costing about $2.4 trillion and Treasury Secretary Steven Mnuchin said he and Pelosi have agreed to restart talks.
I think we have a chance to get something done and we want to,
Pelosi explained, adding,
What we will be putting forth is an offer to say, now let us negotiate within a time frame and a dollar amount to get the job done to put money in people’s pockets, to honor our heroes and to crush the virus.
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
