U.S. Stocks Open The Week In The Red
U.S. stocks are seeing muted action to open the trading week. At the halfway point of the session, the DJIA DOW (-1), S&P 500 SPX (-3), and NASDAQ (+20) are mixed. With a vacant economic calendar, it looks like traders are taking it easy before assuming any new risk.
Today’s economic calendar is wide open, with no primary market movers scheduled. However, the weekly U.S. Treasury auctions were held with limited participation. Both the 3 and 6-month T-bills saw a downtick in yields, falling week-over-week. This is somewhat interesting as the Fed is due to kick off its March meeting tomorrow. Without a doubt, the recent action in the debt markets will be front-and-center for Jerome Powell and the Fed.
On the COVID-19 front, there was some alarming news from France. Earlier today, French officials chose to take the new AstraZeneca vaccine out of circulation due to health concerns. Germany has followed suit, citing abnormal occurrences of blood clots as the primary reason. This is certainly not good news as the world strives to fully reopen later this summer. AstraZeneca stock is showing little effect, off only a modest 0.031% on the session.
U.S. Stocks Quiet To Open The Week
For now, all is quiet on Wall Street. E-mini S&P 500 futures are in the midst of rollover, with the quarterly expirations coming off the board late last week. Below is a last look at the March E-mini S&P 500; prices are hanging in there near all-time highs.
++34_2020+-+11_2021.jpg)
Overview: Right now, a bullish bias is warranted toward U.S. stocks. Unless we see a major policy shift from the Fed Wednesday, be ready for more all-time highs and bullish price action.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals