As President Biden announced a vaccine plan, optimism about growth increased, and US stock futures rose before Wall Street trading hours on Wednesday.
The main futures index showed a 0.7% opening increase.
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President Biden announced on Tuesday that after Johnson & Johnson̵
Biden officially announced at a press conference that pharmaceutical giant Merck is working with rival Johnson & Johnson to help manufacture its recently approved COVID-19 vaccine to speed up the country’s vaccination efforts. The process is slow, but It has started to accelerate in recent weeks.
Officials in Texas and Mississippi announced that they have lifted COVID restrictions and opened business.
By the end of May, all adults in the United States can use the COVID-19 vaccine BIDEN said
The fall in bond prices has eased people’s worries about possible interest rate hikes, and investors are deeply excited about this. Bond yields have slowed, with 10-year US Treasury yields as low as 1.40% on Wednesday.
The first labor-related report this week will be released on Wednesday morning.
The payroll processing company ADP will release its February national employment report. Economists are seeking to add 177,000 private sector jobs, slightly higher than the strong increase of 174,000 in January.
The February non-manufacturing report of the Institute of Supply Management is expected to show that the expansion of the economic services sector remains stable, with an index of 58.7. Any reading above 50 indicates expansion.
In Europe, London’s FTSE index rose 1.1%, Germany’s DAX index rose 0.9%, and France’s CAC index rose 0.8%.
After a turbulent day on Wall Street, Asian stock markets rose on Wednesday.
Tokyo’s Nikkei 225 Index rose 0.5%, Hong Kong’s Hang Seng Index rose 2.7%, and China’s Shanghai Composite Index rose 1.9%.
The S&P 500 index fell 0.8% on Tuesday to 3,870.29 points, after a slight retreat. The day before, the benchmark index rose 2.4%, setting its best performance since June. Technology stocks and Internet stocks accounted for most of the sell-off, which was reversed from the previous day.
|Me: DJI||Dow Jones Average||31,391.52||-143.99||-0.46%|
|I: COMP||Nasdaq Composite Index||13358.787066||-230.04||-1.69%|
The Dow Jones Industrial Average fell 0.5% to 31,391.52. The Nasdaq Composite Index fell 1.7% to 13,358.79.
On Tuesday, Federal Reserve Governor Lael Brainard emphasized that although the Fed is generally optimistic about the economy, it has not raised interest rates or reduced the size of its monthly purchases of $120 billion in assets to calm the financial market.
Jamie Dimon (JAMIE DIMON) warned that the $19 bailout measures may pose a threat to the US economy, and some people say that DEMS should be “cautious.”
Federal Reserve Chairman Jerome Powell is scheduled to deliver a speech on Thursday, and the end of the week will be the government’s employment report, which is usually the monthly key economic report. It also includes the number of wage increases throughout the economy, which is an important part of inflation.
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Among other transactions, the US benchmark crude oil rose $1.11 to $60.91 per barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, oil prices fell 89 cents to $59.75 per barrel. International standard Brent crude oil rose 1.27 US dollars to 63.97 US dollars per barrel.
The Associated Press contributed to this article.