Opening Bell: Futures, Stocks Rise On Central Bank Largesse, Earnings; Oil Up – Investing.com
- Date: 29-Jul-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Gulf
Opening Bell: Futures, Stocks Rise On Central Bank Largesse, Earnings; Oil Up – Investing.com
The Federal Reserve maintained ultra-loose policy
China's PBoC added liquidity to sooth investors
Continued strong earnings increases risk appetite
Key Events
US futures on the , , and recovered in trading on Thursday, tracking global stocks in a muted rally after positive corporate earnings reassured investors that the economy is growing. On Wednesday the Fed reiterated that it will not tighten policy anytime soon adding to market optimism.
Bitcoin's rally slowed; the US dollar dipped.
Global Financial AffairsStocks were buoyed by from Federal Reserve Chair Jerome Powell yesterday, as well as by China's central bank today increasing liquidity there. On Wednesday, Powell clarified, yet again, that policy will remain ultra-loose a while longer. But investors will be sure to watch for data on US economic today, to see if the Fed will be actually able to maintain its accommodative policy while the highly contagious Delta strain of COVID-19 continues to spread.
US contracts painted a clear picture of the reflation trade, with Russell 2000 futures leading gains while NASDAQ 100 futures were the only contracts in the red. Futures on the Dow, whose blue-chip, mega-cap stocks are also heavily weighted toward value companies which shine in economic contractions, outperformed