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  • S&P 500 Futures defy Friday’s weakness, probes intraday high.
  • Vaccine hopes confront surge in the virus cases.
  • Increasing odds of no-deal Brexit, anticipated US-Iran tussle and lockdown restrictions in New Zealand fail to disappoint optimists.
  • Tropical storm Sally is next to rattle the market amid a light calendar.

S&P 500 Futures take the bids near the intraday high of 3,357 amid the initial Monday. The risk barometer recently ignored calls concerning tropical storm Sally while cheering the coronavirus (COVID-19) vaccine hopes. Also on the positive side could be news that Oracle is on the way to take over China’s TikTok.

AstraZeneca is up for resuming its vaccine trials after a brief “routine” halt whereas the Pfizer is optimistic about getting the cure of the pandemic by the year’s end.

On the other hand is the news that Tropical Storm Sally is forecast to become a hurricane on Monday and may affect a region stretching from Morgan City, Louisiana, to Ocean Springs, Mississippi.

Elsewhere, ByteDance’s rejection of Microsoft’s offer to purchase TikTok precedes Oracle’s ability to convince the Chinese app maker. The news can help ease the Sino-American tension that recently saw sanctions on each others’ diplomats.

It should also be noted that the global COVID-19 cases marked a record addition during the weekend whereas speculations that the next round of Brexit, this week in Brussels, will be a tough one offer additional challenge to the market bulls. Further to observe is New Zealand’s extension of lockdown restrictions until September 21 with stricter conditions in Auckland.

Also compressing the market optimsim could be the Politico’s news suggesting Iran’s preparations to take revenge for their soldier Qassem Soleimani.

Not only S&P 500 Futures but Nikkei 225 and Australia’s ASX 200 are also in the positive territory as traders prepare for this week’s Fed meeting, up for Wednesday.

In the short-term, the economic calendar is mostly empty and can negatively affect the market activity. Even so, any more positives on the virus or vaccine will be welcomed to consolidate the last week’s tech-rout.