James GordonU.S. equity futures rose Wednesday, suggesting that key indices may hit new records after the market opens, as investors look to new spending on fiscal stimulus.
The forward contracts related to the S&P 500 increased by 0.2%, one day after the benchmark reached its 30th anniversary this year. The forward contracts on the Nasdaq-100 were relatively stable, suggesting that technology stocks could be weakened after the opening of New York.
Investors are optimistic that another coronavirus package adopted by Congress will contribute to economic recovery, as an increase in infections leads to further restrictions on social and business activity. Trump’s administration proposed a $916 billion package Tuesday after Democrats rejected an attempt by Senate Majority Leader Mitch McConnell to limit the scope of the bill.
Trump administration offered a $916 billion package after Democrats rejected the attempt described above by Senate Majority Leader Mitch McConnell.
Photo:
Swimming-pool/Getty statues
I have the feeling that we are on our way to a deal, says Hugh Gimber, strategy specialist at J.P. Morgan Asset Management. The reaction of the market underlines what we have heard from the central banks: Fiscal stimulus is the best way to support the economy and monetary policy cannot do everything.
Legislators seem to be under pressure to help those most affected by the pandemic as the number of infections increases and the number of patients admitted to hospitals across the country increases. The United States reported more than 215,000 new cases on Tuesday. Some states have introduced new restrictions, fearing that the economic recovery could slow down during the winter months.
Deteriorating medical conditions increase the pressure to do something about it, Gimber said. The market is more hopeful that it will be easier to find a compromise with the elections.
While we wait for the bell to open, the action
FireEye
down 13% after a cyber security company claimed to have been hacked by nation-state shackers. The attack has compromised the software tools used to test the protection of thousands of customers.
On the bond markets, the yield on a 10-year US Treasury bond rose from 0.913% on Tuesday to 0.943%. Revenues increase as bond prices fall.
Abroad, the pan-continental Stoxx Europe 600 rose by 0.5%.
Legislators working on the AIDS Coronavirus Act face two major obstacles: Assistance to national and local authorities and protection of liability. Gerald F. Sabe of the WSJ explained why these issues are important and what a compromise might look like. Photo: Drew Angerer/Getty Images
The pound sterling rose by 0.7% against the dollar and by 0.6% against the euro. Investors are cautiously optimistic that the United Kingdom and the European Union will soon be able to conclude a trade agreement. British Prime Minister Boris Johnson and the President of the European Commission
Ursula von der Leyen
have planned a personal meeting over dinner in Brussels.
The hard truth is that there aren’t many markets, but we haven’t really had a break in negotiations, he said.
Ranko Berich,
Head of the market analysis department at the Monex Europe foreign exchange brokerage firm.
Trade in Asia ended in a mixed way. Shanghai China’s composite index fell by 1.1%, South Korea’s Kospi by 2% and Japan’s Nikkei 225 by 1.3%.
Write to Caitlin Ostroff at [email protected].
Copyright ©2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Related Tags:
cyberpunk 2077 multiplayer,cyberpunk 2077 pc specs
James Gordon
