What’s in Today’s Report:
- Is This Just a Big Replay of ’08-’14?
S&P futures are up well over 1% this morning as newly proposed economic stimulus plans in Europe and Japan, which total nearly $2T, are offsetting U.S.-China tensions.
The European Commission announced plans for another 750B euro economic recovery package overnight while Japan is planning $1.1T in new stimulus to help stabilize growth.
Hong Kong protests due to China’s proposed national security laws weighed on Asian shares overnight and stoked concerns of rising tensions between the U.S. and China.
Today, there are no notable economic reports due to be released in the U.S. and just one Fed speaker to watch midday: Bullard (12:30 p.m. ET).
There is a 5-Yr Treasury Note Auction at 1:00 p.m. ET which could move rates, impact the curve and ultimately affect stocks but the market’s primary focus will remain on coronavirus treatment/vaccine development, economic reopening progress, and simmering U.S.-China trade tensions.