FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
44,113,743Confirmed
1,169,178Deaths
32,324,089Recovered
Fetching Location Data…
Advertisement
Advertisement
Vladimir Zernov
U.S. Stock Market

Donald Trump Calls For A Small Stimulus Bill

Yesterday, the market found itself under significant pressure after U.S. President Donald Trump stated that coronavirus aid package negotiations with Democrats would stop.

Today, S&P 500 futures are gaining ground in premarket trading after Trump proposed a limited stimulus bill which would include $1,200 stimulus checks, $135 billion in funds for paycheck protection program and $25 billion for airline payroll support.

Advertisement

The market has just proved that it is very sensitive to stimulus news as traders remain worried about the state of the economy while stocks are trading at high levels despite the pandemic.

Most likely, various developments on the stimulus front will add to market volatility in the upcoming trading sessions.

Advertisement

FOMC Minutes In Focus

Today, traders will have a chance to take a look at FOMC Minutes from the last meeting. Previously, the Fed signaled that it would keep rates at the bottom until the end of 2023 but traders would like to know what the Fed thinks about the current state of the economy and the potential trajectory of rate hikes when the economy is ready for them.

The release of FOMC Minutes may serve as a material catalyst for the U.S. dollar, which, in turn, may impact gold and silver prices and mining stocks.

Gold and silver have recently failed to develop significant upside momentum but weaker dollar could serve as a catalyst for a new rally. At the same time, weaker dollar will be bullish for the whole stock market.

Oil Tries To Settle Below The $40 Level

Oil remains very volatile near the key $40 level. Yesterday, API Crude Oil Stock Change report indicated that inventories increased by 0.95 million barrels.

This report put pressure on oil prices, although the data will have to be confirmed by the upcoming EIA Weekly Petroleum Status Report before traders will make their final conclusions about the latest developments on the inventory front.

Donald Trump’s decision to stop coronavirus aid package negotiations with Democrats served as an additional bearish catalyst for oil prices while his recent call for a limited stimulus bill helped oil recover some of the losses. At this point, it looks like energy-related stocks are set for a volatile trading session.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US