S&P Midcap E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Wednesday closed up +0.64%, the Dow Jones Industrials Index ($DOWI) closed up +1.39%, and the Nasdaq 100 Index ($IUXX) closed up +0.26%.
U.S. stock indexes on Wednesday pushed higher with the S&P 500 at a new 5-1/4 month high, the Dow Jones Industrials at a 1-3/4 month high, and the Nasdaq 100 at a fresh record high. Signs of progress on a new pandemic relief package lifted equity prices on Wednesday, along with strength in energy and mining stocks as crude and metals prices surged.
Stocks are underpinned by expectations for further government stimulus after Treasury Secretary Mnuchin said Tuesday that the goal is to strike a deal on legislation by the end of the week. Also, Senate Democratic Leader Schumer said on Wednesday that lawmakers "are making progress" as they keep "slogging" through negotiations on virus relief.
Strength in energy and mining stocks on Wednesday was a positive factor for the overall market as crude oil rose t... Read more