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Morning Futures Briefing
with Stephanie Lewicky

U.S Equity Futures Jump as Stimulus Deadline Nears; Ireland Heads into Lockdown

Equity markets came out swinging to start the week, with all four major index futures up at least 0.5% in early morning trading. But traders likely will be eyeing the fate of the contentious COVID-19 stimulus bill for further clues to market direction. Speaker of the House Nancy Pelosi set a 48-hour deadline for any potential deal to be passed before the election, so look out for market-moving news on this front. This news comes as the virus mounts a resurgence heading into winter with worldwide confirmed cases surpassing 40 million.

In other areas of the market, Federal Reserve Chairman Jerome Powell will speak at an IMF event this morning, while earnings season is also coming back into focus this week as companies continue to grapple with the new pandemic environment. Watch for results from Tesla, Netflix, Intel, AT&T, Coca-Cola, American Express, Procter & Gamble, Texas Instruments, Lockheed Martin, and many more. Looking at commodities, crude oil prices is down about 0.3% this morning after weaker-than-expected 3Q growth from China that could suggest the rise in coronavirus cases is hurting demand. Gold is back above the much-watched 1900 level as the U.S. Dollar softens, and natural gas has sunk almost 3%. 

/ES Overnight Chart
/ES 5 DAY 15 MINUTE CHART. Chart source: The thinkorswim® platform from TD AmeritradeFor illustrative purposes only. Past performance does not guarantee future results.

Global Economic Calendar

*All times are in EST (GMT -5:00)

10:00 AM -  U.S. NAHB Housing Market Index

10:30 AM -  CA BoC Business Outlook Survey

11:30 AM -  U.S. 3-Month Bill Auction

11:30 AM -  U.S. 6-Month Bill Auction

1:00 PM -  U.S. 10-Year TIPS Auction

2:00 PM -  U.S. Federal Budget Balance

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