S&P 500 futures jump as US Presi. Biden set to meet Republican senators to discuss stimulus package
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The risk sentiment witnessed a major turnaround in Monday’s Asian trading after the US Republican Senator Susan Collins tweet, suggested that President Joe Biden is likely to meet with ten Republican Senators at 2200 GMT on Monday to discuss the COVID-19 relief aid package.
Collins tweeted out: Our group of 10 Republican Senators appreciates the President’s quick response to our letter, and we are pleased to accept his invitation to the White House tomorrow afternoon to discuss the path forward for the sixth bipartisan Covid-19 relief package.
A group of Republican Senators on Sunday sent a letter to President Biden suggesting a meeting, as part of his call for “unity” to negotiate a coronavirus relief package. The Republicans proposed a downsized $600 billion alternative to Biden’s $1.9 trillion stimulus plan.
Market reaction
The S&P 500 futures erased losses and jumped on the above news, as it revived hopes of a likely fiscal stimulus deal. The futures tied to the US index now trades 0.30% higher at 3,716 while the US dollar index eases back to 90.50.
Gold is off the highs but holds around $1860, posting 1% gains on the day.
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