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- S&P 500 futures rise for the second day in a row as markets await election results in Georgia.
- The first exit polls show results that are too close to the calls.
- Chinese-American stories and vaccine news provide intermediate entertainment on a light calendar in Asia.
S&P 500 futures rise to 3,733, up 0.40% intraday, early Wednesday. The risk barometer benefited from hopes of vaccines against the coronavirus (COVID-19) and optimistic data from the US PMI the day before. However, the bulls are cautiously bullish as time is running out ahead of the major US election results and are supporting risks belatedly.
While the New York Times initially suggested “flipping a coin” to forecast the results of Georgia’s two Senate elections, recent updates point to a big reversal in favor of the 59-44-count Democrats. Moreover, the markets are silently anticipating the Democratic victory and the long-awaited recovery to remain positive.
Read: Georgian voters evenly split over who should control the US Senate
Updates from the UK Times also suggest that millions of covid vaccines are reaching Britain soon. During the day before, the Food and Drug Administration (FDA) of the United States indicated a success rate of 95% for the main vaccines against the covidus.
On the contrary, US President Donald Trump has signed executive orders to cease doing business with eight Chinese apps. Previously, the New York Post quoted the Director General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, as saying that China was blocking investigations that explore the origins of the coronavirus (COVID-19). In addition, dozens of Hong Kong activists are believed to be detained in Asia on Wednesday morning on various charges. In addition, Bloomberg said, “The New York Stock Exchange is reconsidering its decision to stop delisting three major Chinese telecommunications companies after Treasury Secretary Steven Mnuchin told the Big Board he opposed its shocking announcement to grant a stay of business, said three familiar people. with matter.
Against this backdrop, Asia-Pacific equities remain slightly pegged as 10-year U.S. Treasury yields rise 1.2 basis points to 0.97% at time of release.
Going forward, global markets will pay close attention to Georgian election results and cheer for the Democratic victory. It should be noted that Caixin’s Chinese services PMI for December, expected at 51.00 from 57.5 previously, coupled with headlines relating to the Sino-US brawl and covid will also lead the moves.
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