- S&P 500 Futures fail to copy Wall Street’s performance.
- US Treasury yields, Asian stocks keep cheering nearness to the US COVID-19 bill.
- Coronavirus fears loom, New Zealand declares national emergency after India’s lockdown.
While waiting for the US COVID-19 Bill, S&P 500 Futures register 0.73% loss to 2,420 amid the initial minutes after the Tokyo open on Wednesday. The DJI30 Futures also join the line with a 0.50% loss to 20,500 by the press time. However, the US 10-year treasury yields and stocks in early Asia-Pacific markets portray the risk-on.
The recent step back in the US stock futures could be traced to the bull’s pause after the noticeable run-up the previous day. The US equities registered heavy upside on Tuesday with the Dow Jones Industrial Average 30 (DJI30) notching a record one day gain and its best percentage gain since 1933. The S&P 500 also marked 9.38% gains while closing near 2,447 on yesterday.
On the other hand, the US 10-year treasury yields add five basis points (bps) to 0.87% while stocks in Japan, South Korea, Australia and New Zealand flash gains more than 3.0% each.
The US policymakers are near to vote on the estimated $2 trillion aid package to conquer the negative implications of the deadly disease.
It should be noted that the coronavirus (COVID-19) risk remains present to cap the market’s optimism. The latest moves to curb the disease from spreading came from New Zealand that announced a national emergency following India’s three-week lockdown to combat the virus.
For the day to come, investors will keep eyes on the virus headlines while the US Durable Goods Orders may offer intermediate moves.