Thu. Dec 1st, 2022

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US equity futures swing; dollar edges higher

1 min read

Wall Street

U.S. equity futures fluctuated in early Asia trading Monday as investors awaited confirmation on whether President Donald Trump has approved a coronavirus stimulus package. The dollar edged higher.

S&P 500 futures reversed early losses after Trump tweeted that there is “good news” about the US$900 billion bipartisan package, adding more information will follow. Japanese contracts were little changed. The greenback advanced against the yen and kiwi. Treasury futures also fluctuated. Oil pared losses and gold ticked higher.

The pound was steady after the U.K. last week clinched an historic Brexit trade deal with the European Union.

Delayed U.S. stimulus risks sapping some of the optimism that drove global stocks to a record this month. Unemployment benefits have begun expiring for millions of Americans and a possible government shutdown looms unless Trump signs the bipartisan U.S. pandemic relief and government funding bill. The president has demanded Congress boost stimulus checks to US$2,000 from US$600. Votes are expected Monday to try and break the deadlock.

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