S&P 500 Index Futures Market News and Commentary
The S&P 500 Index ($SPX) on Wednesday closed up +0.47%, the Dow Jones Industrials Index ($DOWI) closed up +0.40%, and the Nasdaq 100 Index ($IUXX) closed up +0.92%.
U.S. stock indexes pushed higher Wednesday as the S&P 500 and Nasdaq 100 stock indexes posted new record highs on news that China is planning further measures to support its economy. The Chinese government is considering measures such as direct cash injections and mergers to bail out some of China's biggest airlines, which are controlled by the state, as global carriers have stopped about 80% of their China flights. Also, the People's Bank of China (PBOC) said on Wednesday in its quarterly monetary policy implementation report that it will increase credit support to help prevent and curb the coronavirus spread.
Wednesday's U.S. housing data was also bullish for stocks. Jan housing starts fell by only -3.6% to 1.567 million, stronger than expectations of -11.2% to 1.428 million. Also, Jan building permits, a... Read more