US stock futures fall and bonds and dollar rise as investors give muted response to Joe Biden’s $1.9 trillion stimulus plan

US stock futures fall and bonds and dollar rise as investors give muted response to Joe Biden’s $1.9 trillion stimulus plan

US stock futures fall despite Joe Biden unveiling a $1.9 trillion stimulus plan.

Bonds and the dollar rose as investors moved into safer assets.

US Federal Reserve chair Jay Powell sought to calm worries about bond-buying.

US stocks were set to end the week on a downbeat note, despite President-elect Joe Biden laying out plans for a $1.9 trillion stimulus injection, with bonds and the dollar rising as investors sought safer assets, such as gold.

The S&P 500 was on track fall at the opening bell, with futures down 0.22%. Dow Jones futures were 0.25% lower and Nasdaq futures were off by 0.13%.

US stocks also dipped on Thursday, with the S&P 500 closing down 0.38%, the Dow Jones 0.22% and the Nasdaq 0.12%. The Russell 2000 index of smaller companies jumped 2.05%, however, to a new all-time high.

A major speech from Biden outlining his plan to kickstart the flagging US economy has met with a toned-down response on Wall Street, judging by futures, and exchanges around the world.

Read more: Corporations rushed to address the Capitol riot and political donations. Here's how those moves reflect the rise of sustainable investing.

Many analysts said markets had already priced in a big stimulus boost, sending the S&P 500