Futures steady after S&P 500 record
Oct. 29, 2019 5:18 AM ETBy: Yoel Minkoff, SA News Editor37 Comments
- There wasn't much movement for U.S. stock index futures overnight as traders held their breath after pushing the S&P 500 index to a closing high of 3,039.42 on Monday.
- The rise was propelled by expectations of a third consecutive rate cut from the Federal Reserve, which has started a program to purchase $60B/month in Treasury bills until the end of 2019 and took the extraordinary action to shore up overnight liquidity starting in September.
- Trade optimism is also in the air after the USTR said Washington will consider extending certain tariff exclusions on $34B worth of imports from China.