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Futures point to positive open for U.S. stocks as U.S. aid deal nears

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The futures market points to a positive open for U.S. stock markets as top congressional and White House officials say they expect to reach a deal on a US$2-trillion rescue package.

Treasury Secretary Steven Mnuchin and Senate Democratic leader Chuck Schumer have both said an agreement in near.

The move would come after North American stock markets fell on Monday as the U.S. politicians haggled over the deal. The drop came despite a statement by the U.S. Federal Reserve that it would buy as many Treasuries and mortgage-backed securities as it took to stabilize bond markets.The May crude contract was up US$1.60 at US$24.96 per barrel.

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Global stocks rise after U.S. Fed promises economic supportGlobal stock markets and U.S. futures surged Tuesday after the Federal Reserve promised support to the struggling economy as Congress delayed action on a US$2 trillion coronavirus aid package. What a broken system. Profits should not be priority in any of this...
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