Dow Futures cautious before the Fed, the dollar extends the depression

Wednesday’s market minute

  • Global stocks mingled against a falling US dollar as investors wait for a key Federal Reserve policy statement at 2:00 PM EST.
  • The dollar falls to a new two-year low against a basket of its global peers ahead of the Fed’s statement, with traders scared by a collapse in consumer confidence in July and the looming edge of government stimulus.
  • Congressional lawmakers remain $ 2 trillion apart in their rival coronavirus rescue plans, just days before the $ 18 billion unemployment benefits expire.
  • Six US states posted a record coronavirus deaths on Tuesday, adding to concerns that the resurgence could trigger new business and travel restrictions, as well as school closings, in the coming weeks.
  • US equity futures suggest a modestly firmer open on Wall Street ahead of Boeing and General Electric gains before the start of trading.

US stock futures rose higher on Wednesday, as the dollar returned to new two-year lows and bond yields continued to fall, as traders prepared for a busy session highlighted by bluechip’s corporate earnings, a key statement. of the Federal Reserve and stimulus negotiations underway in Washington.

Global stocks were mixed in the overnight session, with gains in Asia offset by a minimum of two and a half weeks for the Nikkei 225 in Japan and bumpy markets in Europe, where the euro is trading at a two-year high against the El Dollar and corporate earnings have been largely disappointing this season.