logo |

News

    Home   >     Industry    >     Main body

    U.S. Stocks Set To Open Higher As Traders Await New Coronavirus Aid Package

    Abstract:S&P 500 futures are gaining ground in premarket trading as Republicans are ready to present their new coronavirus aid package and start negotiations with Democrats.

      New Coronavirus Aid Package Coming Soon

      Republicans have agreed on the details of the new $1 trillion coronavirus aid package that should help workers and boost the economy and are ready to start negotiations with Democrats.

      Full details of the proposal have not been made public, but the package is expected to include direct payments of $1200 in August. Unemployment benefits are projected to be reduced to 70% of the workers previous pay.

      [fx-primis-ad]

      Negotiations will likely be intense but are expected to be concluded this week as key benefits from the previous package as set to expire at the end of July.

      S&P 500 futures are gaining ground in premarket trading as investors bet that another stimulus package will push asset prices higher.

      [fx-article-ad]Gold Rallies To A Record High

      Gold rallied to a record high and almost crossed the $1950 mark on a spot basis as the unprecedented monetary stimulus from the world central banks and ultra-low interest rates fueled demand for precious metals.

      In addition, the U.S. dollar is falling against a broad basket of currencies, providing additional support to gold. The U.S. Dollar Index has recently managed to settle below March lows at 94.65 and continued its downside trend, falling below the 94 level.

      The major gold rally will likely provide significant support to gold mining stocks, most of which are already gaining ground in the premarket trading session.

      While many catalysts are pushing gold higher, it should be noted that gold has reached extremely overbought levels and the risk of a near-term correction is high.

      Durable Goods Orders Increase By 7.3%

      The U.S. has just released Durable Goods Orders data for June. On a month-over-month basis, Durable Goods Orders increased by 7.3%. Analysts expected that Durable Goods Orders will grow by 7.2%.

      Excluding transportation, Durable Goods Orders increased by 3.3% compared to analyst consensus which called for growth of 3.5%.

      Durable Goods Orders showed solid rebound in June and were mostly in line with analyst expectations. The next months report will be more interesting as it will show whether problems on the coronavirus front put pressure on Durable Goods Orders in July.

      For a look at all of todays economic events, check our our economic calendar.

    Latest News

    Singapore Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Singapore Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area

    ×

    Select Country/Area