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S&P/ASX 200 futures pointing to strong day ahead as US finishes green

The S&P 500 closed up 1.15% and the Nasdaq Composite closed down 0.45%.

Cochlear Limited - S&P/ASX 200 futures pointing to strong day ahead as US finishes green
The catalyst for the positive day was Congress agreeing on the stimulus package

S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are up around 5% similar to yesterday heading into the open as the ASX 200 looks to build on yesterday's gains of 5.54% to 4,998.1.

US markets were having a very strong day but gave up the majority of their gains in the last 20 minutes of trade.

The S&P 500 Index (INDEX:. INX) closed at 2,475.56 ,+28.23 or +1.15% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 7,384.30, −33.56 or down 0.45%.

The reason for the late sell-off was Senator Bernie Sanders saying that he will demand new restrictions on the funding for corporations until Republican Senators drop their objections to unemployment insurance expansions.

All eyes will be on how Cochlear Limited (ASX:COH) trades after raising $800 million in a share placement at $140 per share to sure up its balance sheet.

Volatility in commodities settles

Gold was down 1.0% overnight to US1,643 per ounce and Crude Oil WTI was up 1.4% to US$24.34 per barrel.

The AUD continues was flat overnight and is buying 59.5 US cents.

 

 

Quick facts: Cochlear Limited

Price: 227.35 AUD

ASX:COH
Market: ASX
Market Cap: $14.94 billion
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