- S&P 500 Futures prints four-day winning streak while taking the bids near all-time high.
- Democratic victory in the US Senate, efforts to impeach Trump eases path for further stimulus.
- Virus woes battle vaccine hopes while Sino-American tension also provide background music but nothing matters.
- US NFP, $2,000 paycheck headlines are awaited for further risk-on.
S&P 500 Futures keep flashing fresh landmarks above 3,800, currently up 0.42% to 3,812 during early Friday. The risk barometer recently favored the bulls as Democratic Party is up for controlling the US. Also favoring the mood could be a major push for US President Donald Trump’s impeachment even as he recently conceded defeat.
It should be noted that President Trump’s alleged favor to the supporters who stormed Capitol Hill gained a major ire amongst the policymakers from the US and abroad. The same push him to leave the White House at the soonest even as Vice President Mike Pence saves him for now.
On the other hand, virus conditions in Australia, Japan, the UK and the US are worsening as well. After the UK’s third lockdown and second emergency in Tokyo, Australia’s Greater Brisbane also recalled the activity restrictions earlier in the day.
However, the vaccinations are on the jump and expected to tame the pandemic soon, which in turn keeps the market sentiment positive amid a light calendar.
Not only the S&P 500 Futures but US 10-year Treasury yields and stocks in Asia-Pacific are also on the rise amid a broad risk-on mood.
Looking forward, monthly employment data from America will decorate today’s calendar but major attention will be on the US politics for fresh impulse.
Read: Nonfarm Payrolls Preview: Long path to recover to be even longer
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