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.

Ross J Burland FXStreet

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.

S&P 500 Index Weekly Forecast: Stimulus, US politics and NFP in the mix, consolidation expected on the chart

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.

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.