Search ForexCrunch
  • S&P 500 Futures gain half a percent while justifying improvements in the key risk catalysts.
  • Brexit talks continue, White House staff members will be among the first to be vaccinated.
  • Virus woes, progress in the US stimulus talks add burden on the market watcher’s back.

S&P 500 Futures eases from an intraday high of 3,677 to 3,671 during Monday’s Asian session. Even so, the risk barometer defies the previous three day’s declines while flashing a 0.50% intraday rise. Backing the mood are the headlines from the UK and the US that suggest a mildly positive outlook even as the coronavirus (COVID-19) resurgence challenges the market optimism.

Read: Brexit “still has some legs”, US bipartisan group devides stimulus into two packages

UK PM Boris Johnson and European Commission (EC) President Ursula von der Leyen agreed to “go the extra mile” by continuing talks into this week. However, fears of no-deal Brexit aren’t off the table as British PM Johnson reiterates, “I’m afraid we’re still very far apart on some issues.”

Elsewhere, the New York Times (NYT) came out with the news suggesting that the White House staff members will be the first to be vaccinated. During late Friday, the US Food and Drug Administration (FDA) approved Pfizer and BioNTech’s jointly developed coronavirus vaccine for emergency use.

The US Congress members are also progressing over the much-awaited stimulus talks. Recent chatters suggest a partition of over $900 billion of aid package with $748 billion and $160 billion likely figures for each bill.

On the negative side, the virus woes recall the local lockdowns in the UK and the US while Germany extends national activity restrictions amid the fresh jump in infections and death toll led by the COVID-19.

Not only the US stock futures but shares in Japan and Australia are also up whereas New Zealand’s NZX 50 and South Korea’s KOSPI struggle for a clear direction by press time.

Moving on, markets will pay close attention to the developments surrounding Brexit and US stimulus as both reaches near to the deadlines. However, this week’s Fed meeting and vaccine updates will also be the key.