Post by Dave on Oct 7, 2020 2:47:29 GMT -8
Good morning again. The pre-market is green this morning at +$0.59 at the moment.
U.S. Stock Futures Advance as Investors Weigh Stimulus Talks
U.S. Stock Futures Advance as Investors Weigh Stimulus Talks
Bloomberg) -- U.S. index futures rose and pointed toward a rebound from Tuesday’s selloff as investors assessed the progress of a stimulus plan and a House panel proposal for far-reaching antitrust reforms to curb the power of American technology giants.
Fresh comments from U.S. President Donald Trump calling for support for airlines and the Paycheck Protection Program helped reverse earlier losses. December contracts on the S&P 500 Index added 0.7% as of 8:25 a.m. in London, rebounding from a 0.6% loss. Futures on the Nasdaq 100 Index also advanced 0.7%, erasing a drop of as much as 0.6%.
“So there is still some stimulus perhaps coming before the election,” said Ben Emons, head of global macro strategy at Medley Global Advisors. “That is removing the angst from the Trump tweet earlier that no further negotiations about the stimulus package would take place.”
. . . . .
A 449-page report from the House antitrust subcommittee recommended Congress consider legislation that would either prevent tech companies from owning different lines of businesses, which could lead to breakups, or impose certain organizational structures. Scrutiny of the companies has intensified this year as their market values ballooned, including Apple crossing the $2 trillion threshold in August.
“They had been looking richly valued, but now with increasing regulatory scrutiny on them, they’re going to be -- if nothing else -- not 100% focused on their business,” said Kim Forrest, chief investment officer of Bokeh Capital Partners. “This is showing intent, it’s not just idle chatter.”
Fresh comments from U.S. President Donald Trump calling for support for airlines and the Paycheck Protection Program helped reverse earlier losses. December contracts on the S&P 500 Index added 0.7% as of 8:25 a.m. in London, rebounding from a 0.6% loss. Futures on the Nasdaq 100 Index also advanced 0.7%, erasing a drop of as much as 0.6%.
“So there is still some stimulus perhaps coming before the election,” said Ben Emons, head of global macro strategy at Medley Global Advisors. “That is removing the angst from the Trump tweet earlier that no further negotiations about the stimulus package would take place.”
. . . . .
A 449-page report from the House antitrust subcommittee recommended Congress consider legislation that would either prevent tech companies from owning different lines of businesses, which could lead to breakups, or impose certain organizational structures. Scrutiny of the companies has intensified this year as their market values ballooned, including Apple crossing the $2 trillion threshold in August.
“They had been looking richly valued, but now with increasing regulatory scrutiny on them, they’re going to be -- if nothing else -- not 100% focused on their business,” said Kim Forrest, chief investment officer of Bokeh Capital Partners. “This is showing intent, it’s not just idle chatter.”
