Opening Bell: Fed Minutes Boost U.S. Futures, Global Stocks But Dollar Retreats

By Investing.com4 days ago

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  • The Fed downplayed inflation concerns
  • SPX hit a new record close
  • Bitcoin rallies above $57,000

Key Events

Minutes from the previous Federal Reserve meeting, released Wednesday, reaffirmed the bank's accommodative policy and boosted contracts on the Dow, S&P, NASDAQ and Russell 2000 as well as European shares in trading on Thursday.

Yields slid while gold is higher on a weaker dollar.

Global Financial Affairs

S&P futures built on yesterday's Wall Street advance, suggesting the underlying benchmark will match Wednesday’s new closing high when the US session opens, perhaps even providing another record setting day when trading begins.

Miners and automakers—which perform well in a growth environment—led the STOXX 600 index higher in European trading this morning. However, the FTSE 100 index tempered its performance, as the pound sterling rebounded from a two-day loss. The island-nation is heavily dependent on exports, and a weaker pound increases sales to other countries.

The pound had also been under pressure from concerns about side effects from AstraZeneca's (LON:AZN) COVID-19 vaccine and a slowdown in the vaccination program in the UK. The Philippines have just suspended use of the vaccine for people under the age of 60 after data showed that the inoculation can cause rare blood clots and Britain’s Joint Committee on Vaccination and Immunisation said that the vaccine should not be given to under 30s due to a very rare side effect of blood clots in the brain. So, the pound remains a shorts squeeze.

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