- S&P 500 Futures rises for the fourth day, probed two-week top on Wednesday.
- Joe Biden is on the way to the White House but President Trump toughens the road.
- Virus woes, pre-Fed/BOE move offer background music to the risk catalysts.
S&P 500 Futures rises to 3,445, up 0.30% intraday, during the early Thursday. The risk barometer surged to the highest since mid-October the previous day, before stepping back from 3,480, as global equities cheered increasing odds of a Democratic presidency in the US.
US President Donald Trump is trying hard, via probing ballot counting in Pennsylvania and also demanding a recount in Wisconsin, to keep the throne in the White House. However, the latest victory by Democratic candidate Joe Biden in Michigan pushes him closer to the US leadership.
Read: US election wrap: It ain’t over until … the Trump concedes defeat
Elsewhere, Italy announced further activity restrictions for Lombardy amid the coronavirus (COVID-19) hike. The lockdowns will also impact the nation’s financial capital Milan after Wednesday’s new infections rose to 30,550 from 28,244, per Reuters.
To avoid another round of the pandemic, China has banned entries of UK travellers. Though, the same could also renew the London-Beijing tussle and weigh on the market sentiment.
It should be noted that the global traders have turned cautious ahead of the key monetary policy decisions from the BOE and the US Federal Reserve. While the “Old Lady” is expected to take the controversial path towards a negative rate, Powell & Company could keep the grim tone while trying not to impress markets amid covid worries and recently downbeat data.
Overall, US election updates, central bank actions and virus news will portray a “Super Thursday” for global markets.
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