- The S&P 500 futures are rising for the second day in a row as markets await Georgia’s election results.
- Early exit polls stand out too close to call results.
- Stories between the US and China, news about vaccines offer intermediate entertainment amid a light calendar in Asia.
The S&P 500 Futures rose 3,733, 0.40% intraday, during early Wednesday. The risk barometer benefited from the hopes of coronavirus vaccines (COVID-19) and optimistic US PMI data the day before. However, the bulls are cautiously optimistic in pushing ahead of major U.S. election results and supporting late risks.
Although the New York Times initially suggested “tossing a coin” to predict the results of the two Georgia Senate elections, recent updates indicate a major reversal in favor of Democrats to 59-44 counts. In addition, markets are quietly anticipating democratic victory and the expected stimulus to stay positive.
Read: Georgia voters are divided evenly over who should control the US Senate
UK Times updates are also positive suggesting that millions of coveted vaccines will soon arrive in Britain. Over the previous day, the U.S. Food and Drug Administration (FDA) transmitted a 95% success rate for major covid vaccines.
By contrast, U.S. President Donald Trump signed executive orders to stop doing business with eight Chinese applications. Earlier, the New York Post quoted World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus as transmitting that China is blocking investigations investigating the origins of the coronavirus (COVID-19). In addition, dozens of Hong Kong activists are said to be arrested on Wednesday morning in Asia on various charges. In addition, Bloomberg mentioned: “The New York Stock Exchange is reconsidering its decision to stop the withdrawal of the three major Chinese telecommunications companies after Treasury Secretary Steven Mnuchin told the Big Board that opposed the shock announcement to grant relief to companies, “three people said with the matter.”
In this context, Asia-Pacific stocks remain slightly lower, while ten-year US Treasury yields rise 1.2 basis points to 0.97% in press time.
Looking to the future, world markets will pay close attention to Georgia’s election results and encourage democratic victory. It should be noted that Caixin Services ’Chinese PMI for December, which was expected to be 51.00 compared to previous 57.5, along with headlines related to the Sino-US fight and covidi will also lead the movements.