U.S. futures rose on Wednesday as signs of future economic growth resulted in renewed investor confidence. Treasury yields and European equities gained as well.
After a month in which the S&P 500 realized a dozen record closes, both this index’s and those of the Nasdaq 100 remained in the green. The Stoxx Europe 600 also gained significantly following its losses on Tuesday, largely due to the growth experienced by travel companies and retailers amid economic reopenings.
This economic rebound comes after the European Union met its target on Tuesday of vaccinating 70% of the adults in the bloc.
While the European Central Bank has suggested that it is in the process of cutting back on pandemic-era bond buying programs, analysts show little concern over any possible setbacks that could transpire as a result. Guillermo Hernandez Sampere, head of trading at Manfred Piontke Vermoegensverwalt EK in Eppstein, Germany commented: “Even a reduction is like fetching the water from the pool with a spoon.”
During this same period, oil exceeded a price of $69 per barrel after an OPEC+ meeting that laid the foundation for a rise in output.
