- S&P 500 Futures rises for the second day in a row as markets await election results in Georgia.
- Early exit polls emphasize too close to the results of calls.
- American and China stories, vaccine news offers interim entertainment amid a light calendar in Asia.
The S&P 500 Futures rose to 3,733 early Wednesday, up 0.40% intraday. The risk barometer benefited from the hope of coronavirus (COVID-19) vaccination and current PMI data in the US. Bulls, however, are cautiously optimistic by the length of time ahead of major U.S. election results and the risks left too little.
While the New York Times initially proposed “tossing a coin” to predict the outcome of both Senate elections in Georgia, recent updates point to a major turnaround in favor of Democrats to 59-44 scores. In addition, the markets quietly expect democratic victory and the long-awaited stimulus to remain positive.
Read: Georgia voters are evenly divided over who should control the U.S. Senate
Also on the positive side are the UK Times updates which indicate that millions of vaccines will soon reach Britain. The US Food and Drug Administration (FDA) gave a 95% success rate for leading vaccines the previous day.
On the contrary, US President Donald Trump has signed executive orders to stop doing business with eight Chinese applications. The New York Post previously quoted the director general of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, as saying that China was blocking investigations investigating the origin of the coronavirus (COVID-19). Dozens of Hong Kong activists are said to be detained in Asia on Wednesday morning on various charges. In addition, Bloomberg said: ‘The New York Stock Exchange is reconsidering its decision to halt the delisting of three major Chinese telecommunications companies after Finance Minister Steven Mnuchin told the Big Board that he was postponing the shock announcement to the companies. give, resisted. with the case. ”
Against this backdrop, Asia-Pacific equities remained soft, while U.S. ten-year treasury yields rose 1.2 basis points to 0.97% at the time of going to press.
Looking ahead, world markets will pay close attention to the results of the Georgian election and the Democratic victory. It should be noted that China’s PMI for Caixin Services for December, 51.00 compared to 57.5 previously expected, along with headlines regarding the Sino-American dispute and covid will also direct the moves.