Foreign exchange traders monitor screens in Tokyo, Japan. Picture: GETTY IMAGES/CARL COURT
“You saw more than a slight moderation to the S&P 500, and the Dow, but you’re still looking at these markets at record highs,” said Tom Piotrowski, a market analyst with CommSec. “It’s a matter of looking out for what the next catalyst is for these markets.” Some investors are watching whether US policymakers can reinvigorate efforts to pass additional pandemic stimulus. The US Congress is expected to vote this week on a one-week stopgap funding bill to give negotiators more time to strike a compromise, as the business community cautioned inaction could spur a deeper recession.
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