European stock futures are trading down in the pre-opening session on Thursday, while US futures are tracking slightly higher as a new $3 trillion budget plan designed by the Biden administration adds strength.
After signing off on the $1.9 trillion package, the so-called “American Rescue Plan,” now, the White House leader will have a new trump card up his sleeve. This time, the program will have a longer-term goal, focused on investment in infrastructure and privileging sectors such as education and health and areas such as combating climate change.
During the early hours in Lisbon, the Asian session didn’t register great changes, with the exception of Japan’s index, which gained 1.5%.
Investors will be focused on the auction of US seven-year debt, after last month’s weak demand for this maturity precipitated a rise in Treasury interest rates.
Yesterday, US Federal Reserve Chairman Jerome Powell was asked again about the rise in yields, and said once again that they were at a very low level and reflect confidence in a better economy.
On the health side, AstraZeneca’s vaccine showed lower efficacy in a US study at a time when the number of covid-19 cases in the country surpassed the 30 million barrier. In Brazil 300,000 people have already died from the pandemic, the second highest death toll in the world.
