35% increase in S&P 500 futures in the Asian market Thursday, May 13
The S&P 500 futures traded up 0.35 percent at 4.073 during mid-trading on Thursday, breaking the lowest level recorded in early April.
Earlier in the day, the Asian Stock Exchange, the US Centers for Disease Control and Prevention (CDC) approved the Pfizer vaccine for teens over the age of 12 and offered a new buy under the S&P 500 futures contract. Investors are extremely cautious for fear of a large recession that persists.
After the US Consumer Price Index (CPI) reached its highest level since 2008, the risk benchmark experienced a three-day drop to its lowest level in several days. Rising headline inflation is pushing the Fed to cut interest rates, but it should not be forgotten that the bank also faces challenges over the Biden administration's next bailout package.
It should be noted that Japan and New Zealand have recently become concerned about the internal situation created by the Corona virus and the resulting overseas issues.
While the current risky situation poses many challenges for traders, they seem to be waiting for US markets to open up for new incentives. During this session, the weekly US Unemployment Insurance Claims and the Producer Price Index (PPI) on the eve of the US Wholesale Retail and the Michigan Consumer Sense Index may provide an intermediate direction for investors.