Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dow Futures 105 Pts Higher; Fed Meeting Looms Large

Stock MarketsMar 15, 2021 07:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

By Peter Nurse

Investing.com - U.S. stocks are seen opening higher Monday, continuing last week’s rally as investors await Wednesday's highly anticipated Federal Reserve meeting.

At 7:05 AM ET (1205 GMT), the Dow futures contract was up 105 points, or 0.3%, S&P 500 futures traded 6 points, or 0.2%, higher, and Nasdaq 100 futures climbed 25 points, or 0.2%.

Equity markets rose strongly last week, with the Dow Jones Industrial Average rising 4%, its best weekly performance since November last year, S&P 500 gaining 2.6% and the Nasdaq Composite gaining 3%. 

Helping the mood has been the expectation of healthy growth going forward, buoyed by extraordinary monetary and fiscal stimulus, particularly after President Joe Biden signed his massive $1.9 trillion Covid relief package into law late last week.

A fly in the ointment has been the recent jump in bond yields on rising inflationary concerns, which has challenged growth stocks in recent weeks to the benefit of the more cyclical sectors.

The yield of the U.S. 10-year Treasury hit its highest level in more than a year on Friday, trading above 1.64%. It currently trades at 1.61%.

This brings this week’s Federal Reserve two-day meeting, its second of the year, firmly into focus. The central bank is not expected to take action on interest rates, but investors will be watching closely for changes to its economic projections as well as any commentary regarding the selloff in the Treasury markets.

Meanwhile the U.S. vaccination program continues to gather pace, with President Biden stating last week the country will have enough vaccines for every adult by the end of May, two months earlier than previously expected.

This points towards a relative early reopening of the economy, with some states such as Texas already lifting mask-wearing and other restrictions. Air traffic data registered more passengers passing through U.S. airports on Friday than any day since March last year.

The news in Europe has been less encouraging, with Covid-19 cases rising again and Italy planning a third national lockdown over the Easter holiday.

In corporate news, GenMark (NASDAQ:GNMK) will be in the spotlight after Swiss pharmaceutical giant Roche (SIX:RO) announced it will buy the U.S.-based maker of molecular diagnostic tests in a $1.8 billion deal.

Oil prices climbed Monday, with the international benchmark Brent heading towards $70 a barrel on signs of strong Chinese economic growth, pointing to more demand from the world’s largest importer of oil.

U.S. crude futures traded 0.2% higher at $65.72 a barrel, while the Brent contract rose 0.1% to $69.31, not far removed from the 13-month high seen last week.  

Elsewhere, gold futures rose 0.5% to $1,727.90/oz, while EUR/USD traded 0.2% lower at 1.1930.

 

Dow Futures 105 Pts Higher; Fed Meeting Looms Large
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Jim Jones
Jim Jones Mar 15, 2021 9:36AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Only green from the welfare machine.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email