S&P 500 Futures struggle to copy Wall Street’s moves amid sluggish yields, covid woes – by anilpanchal7 SP500 Futures YieldCurve Inflation Coronavirus
negative headlines from China. Reassessment of the previous day’s solid move and bank holidays in the US and Canada also seem to challenge the market’s moves of late.
While portraying the mood, the S&P 500 Futures print mild gains around 3,970 following the biggest daily jump in nearly 2.5 years. That said, the US 10-year Treasury yields remain inactive around the monthly low near 3.81%, flashed on Thursday, after registering the heaviest slump since early December 2021.
“China’s daily Covid infections exceeded 10,000 for the first time since April, with Beijing’s cases at the highest level in more than a year, as the country’s top leaders urged more targeted restrictions aimed at controlling the virus,” said Bloomberg. The news joins fears of economic slowdown in the UK andThat said, lower-than-expected prints of the US Consumer Price Index for October, 7.7% YoY versus 8.0% expected and 8.
With this, the CME’s FedWatch Tool signals a nearly 80% probability of the Fed’s 50 basis points rate hike in December versus around 55% just following the last week’s Fed meeting. Moving on, the first readings of the US Michigan Consumer Sentiment Index for November, expected 59.5 versus 59.9 prior, may join the headlines surrounding coronavirus to entertain the traders. However, receding fears of the global central bankers’ aggressive rate hikes could keep the markets positive, which in turn could weigh on the safe-havens like the
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