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S&P 500 Futures Up Today As News Trickles in About Trump


Volatility eased in U.S. equity futures as optimism over President Donald Trump’s prognosis that is medical hopes for fresh economic stimulus put a braking system on selling that whipped up Friday.

Dip buyers showed up at the 7 a.m. Tokyo open, bidding up contracts after Trump’s doctors insisted he’s doing well and could be discharged as soon as Monday December. Areas fell on after Trump’s diagnosis, Friday. They remained up for the as some traders speculated the president’s illness raised chances for aid to the economy from Congress and data showed job gains slowed in September and many Americans stop in search of work week.

“The dramatic turn of events may be a catalyst for a stimulus agreement – or it may not; we wait for bills to be put to Congress and votes to be taken,” said Julian Emanuel, chief equity strategist for BTIG, wrote in an email. “With key economic data expanding its run of disappointments versus expectations and high-profile corporate layoffs, additional aid would seem imperative.”

Stock futures gain in Asia
U.S. shares have actually stayed relatively resilient since Trump’s test that is positive in part because of speculation Congress will move toward an aid package after large parts of the current bill expired at the end of July. While the president urged lawmakers to get stimulus passed in a weekend tweet, little progress that is new reported since Friday.

Futures on the S&P 500 gained 0.8% at 12:19 p.m. in Tokyo. The gauge that is underlying 1.5% a week ago, though Friday saw a 1% selloff. Contracts on the Dow Jones Industrial Average added 0.8%, while Nasdaq 100 futures climbed 1.1%.

The yen fell against all currencies that are group-of-10 traders shunned haven assets. It dropped 0.3percent against the buck to 105.55 yen. Danger assets such as the dollar that is Australian the Korean won gained. Volatility eased in U.S. equity futures as optimism over President.

“Optimism over Trump’s health is growing quickly to prompt purchases in stocks, while the yen comes,” said Masakazu Satou, a currency adviser at retail FX brokerage Gaitame on the web in Tokyo. “Risk sentiment could improve further as Trump’s condition appears to originally be better than believed. However now we truly need to see whether Trump will actually be released through the hospital later on Monday”

Forty-five minutes before futures started trading, the president tweeted a video that is one-minute his hospital suite thanking the physicians and nurses at Walter Reed Medical Center.


Billy Houghton

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