Home S&P 500 Futures holds above 3,600 despite virus woes, fears of US-China tussle on Thanksgiving Day
FXStreet News

S&P 500 Futures holds above 3,600 despite virus woes, fears of US-China tussle on Thanksgiving Day

  • S&P 500 Futures trim recent losses from the two-week high flashed the previous day.
  • Global covid cases cross 60 million, China delivers half of trade promises to the US in 10 months.
  • US blacklists four Chinese, Russian companies concerning Iran missile program, Brexit jitters continue.
  • Light calendar and US Holiday can bore the traders.

S&P 500 Futures print mild gains around 3,630 as markets in Tokyo open for Thursday’s trading. The risk barometer flipped from the record high, flashed earlier in November, on Wednesday amid downbeat US data and a lack of fresh push to the previous risk-on mood.

That said, the US equity derivative’s latest performance ignores the downbeat coronavirus (COVID-19) updates and fears that the tension between the US and China will renew soon. Not only Beijing’s inability to perform on the trade promises, which flashes trade war fears, but the American sanctions on four companies from China and Russia together in connection to Iran’s missile program renew political tussle among the world’s top economies.

It’s worth mentioning that the Brexit jitters continue as the European Union policymakers, especially from France, consider the UK as too tough to tackle the key issues like fisheries.

Additionally, Germany’s extension of the partial lockdown and Spain’s likely limit to the Christmas celebration also probe the market optimists.

Alternatively, US President-elect Joe Biden is firming up his grip over the White House. The Democratic member has so far avoided speaking anything troublesome, which in turn suggests no major tussles going forward. Also, the Democratic push for the major stimulus favors the trading sentiment.

Even so, Japan’s Nikkei 225 and stocks in Pacific nations track Wall Street’s sluggish performance by press time.

Read: Wall Street Close: Risk-on mood fizzles amid mixed clues

Moving on, a lack of data/events will join the US holiday to restrict the market’s momentum.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.