fundamental News - SP500
S&P 500 tread water around
3,390, down 0.10% intraday, during early Wednesday. In doing so, the risk
barometer snaps the last two days’ run-up ahead of the US Federal Reserve (Fed)
than the traders’ generally followed pre-event cautious sentiment, a light
calendar and mostly dead news feeds also add to the market’s lack of activity.
Even so, recent trade jitters
between the US and Canada, surrounding the American aluminum tariffs, join the
coronavirus (COVID-19) news to offer intermediate moves.
Following its open threat to
any further aluminum tariffs from the US, Ottawa extended the border
restrictions with America by a month to October 21.
Also on the trade side could be
the World Trade Organization’s (WTO) verdict terming the US sanctions on China
as against international law.
Elsewhere, Texas registered the
biggest jump in daily cases with 4,816 addition for Tuesday. Though hopes of
finding the cure to the pandemic, backed by the latest research at the
University of Pittsburgh School Of Medicine, conquer the virus woes.
Looking at the calendar, New
Zealand’s Current Account data for the second quarter flashed upbeat signs and
so does Japan’s August month Merchandise Trade Balance Total. Further, Australia’s
Westpac Leading Index grew past-0.06% prior readings to 0.48% in the previous
on, traders will pay a little heed to the second-tier economics, if any, ahead
of the US Fed’s monetary policy announcements. Though, the
UK Consumer Price Index and Retail Sales from American may offer intermediate
moves. It should, additionally, be noted that the risk catalysts may gain
upside momentum should the Fed chooses to sound optimistic.