US futures are up by nearly 2% on the day
The power of cheap money continues to rule all, as we see US futures rise significantly ahead of the return of Wall Street from the long weekend later in the day.
Vaccine talk is among the things said to be contributing to the positive mood so far today, but this has been the case since yesterday as investors brush aside Friday fears surrounding Hong Kong-China tensions and concerns about US retaliation.
What is notable is the S&P 500 futures are now starting to climb above the 3,000 mark. That sets up a really good opportunity for buyers in the cash market to potentially start tracking above its key daily moving averages; taking out yet another key technical level:
Beyond that, there is little on the chart to suggest a change in momentum as stocks continue to run rampant since bottoming out in late March.
