- European traders shrug-off economic recovery worries.
- Global stimulus hopes revive risk-on market profile.
- S&P 500 futures point to a positive start on Wall Street.
The overnight steady recovery in the S&P 500 futures regained traction in the European session this Friday, as the risk sentiment shifted in favor of the bulls.
This was reflective of the rebound in the European stocks and the US Treasury yields while the safe-haven demand for the greenback took a beating. The pan-European benchmark, the Euro Stoxx rallies 1.80% while the US dollar index drops 0.15% to 96.60, at the time of writing.
Meanwhile, the S&P 500 futures jumps 1.90% to 3065 levels, suggesting a positive start on Wall Street later today. Markets seem to have shrugged-off intensifying worries over the second coronavirus wave feared in the US cities as well as global economic recovery.
Optimism over additional economic stimulus package deployed by Germany, Japan and other major economies lifted the market mood. Despite the turnaround in the risk sentiment, investors remain on the edge ahead of the Wall Street open, US Michigan Consumer Sentiment Index and fresh COVID-19 updates.
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