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.