- S&P 500 Futures are rising for the second consecutive day as the markets await the election results in Georgia.
- Early exit polls mark too close to call results.
- Stories from the US and China, vaccine news provide in-between entertainment amid a bright calendar in Asia.
S&P 500 Futures rise to 3,733, up 0.40% intraday early Wednesday. The risk barometer benefited from hopes for the coronavirus vaccines (COVID-19) and the optimistic US PMI data from the previous day. Bulls, however, are cautiously optimistic about running ahead of key US election results and cutting risks of late.
While the New York Times initially suggested “flip a currency” to predict the results of both Georgia Senate elections, recent updates point to a major turnaround in Democrats’ favor to count 59-44. In addition, markets are quietly anticipating the democratic victory and the long-awaited incentive to remain positive.
Read: Georgia voters are evenly divided as to who should control the U.S. Senate
Also positive are the updates from the UK Times suggesting millions of covid vaccines will soon reach Great Britain. The previous day, the U.S. Food and Drug Administration (FDA) announced a 95% success rate for leading covid vaccines.
On the contrary, US President Donald Trump signed orders to stop doing business with eight Chinese job applications. Earlier, the New York Post quoted World Health Organization (WHO) Director General Tedros Adhanom Ghebreyesus as saying that China is blocking studies looking for the origin of the coronavirus (COVID-19). In addition, dozens of Hong Kong activists would be detained in Asia on Wednesday morning on various charges. Additionally, Bloomberg said, “The New York Stock Exchange is reconsidering its decision to halt the deletion of three major Chinese telecommunications companies after Treasury Secretary Steven Mnuchin told the Big Board that he opposed the shocking announcement to delay the companies, said three famous people. with the issue. “
Against this backdrop, Asia-Pacific equities continue to bid slightly, while 10-year US Treasury yields rise 1.2 basis points to 0.97% per press.
Looking ahead, global markets will pay close attention to the Georgian election results and applaud the democratic victory. It should be noted that China’s Caixin Services PMI for December, expects 51.00 versus 57.5 earlier, coupled with headlines related to the Sino-American struggle, and Covid will also drive the moves.