S&P 500 Futures print mild gains amid quiet session in Asia

S&P 500 Futures catch a breather after the biggest run-up in a month.
Stimulus, vaccine optimism joins upbeat data to favor the bulls.
Fears of covid variant from Brazil, US-China and Washington-Tehran tussles test the bulls.
US virus relief package, UK budget headlines will be key, Treasury yields moves should be observed too.

S&P 500 Futures hold 3,900, currently around 0.13% to 3,904, during Tuesday’s Asian session. The risk barometer marked a stellar run-up the previous day market sentiment improved over the hopes of a faster recovery from the coronavirus (COVID-19) pandemic.

Although policymakers in the US and the UK are ready to provide the much-awaited fiscal relief measures, the final announcement is yet to be unveiled, which in turn probes the risk-on mood recently.

Also challenging the sentiment could be the fears of the Brazilian variant of the COVID-19 as well as readiness to keep the pressure on China by US President Joe Biden’s pick for the US Trade Representative (USTR) Katherine Tai.

Furthermore, the US is rolling its sleeves for fresh sanctions on Russia and challenges the market mood amid a dull day. “The United States is expected to impose sanctions to punish Russia for the poisoning of Kremlin critic Alexi Navalny as early as Tuesday, two sources familiar with the matter said on Monday,” said Reuters.

Amid these plays, US 10-year Treasury yields stay depressed above 1.40%, currently down 2.4 basis points to 1.42%, whereas stocks in Asia-Pacific also await fresh clues while keeping the previous day’s upbeat performance.

Looking forward, the RBA monetary policy meeting, German Retail Sales and Canadian GDP are likely to decorate the calendar. However, major attention will be given to updates concerning the American and the British covid stimulus updates and virus news.

Also read: Wall Street Close: Stocks surge as focus returns to positive stimulus, pandemic news

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.