👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

European stock index futures bounce on Fed's bond buying plan

Published 06/16/2020, 02:14 AM
Updated 06/16/2020, 02:15 AM
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt
US500
-
SPY
-
DE30
-
UK100
-
EU50
-

(Reuters) - European stock index futures joined a global rally on Tuesday, ahead of the U.S. Federal Reserve's plan to kick off its corporate bond buying programme in an attempt to contain the economic damage from the COVID-19 pandemic.

The Fed is set to start purchasing corporate bonds on Tuesday through the secondary market corporate credit facility (SMCCF), one of several emergency facilities recently launched by the U.S. central bank to shore up liquidity.

Euro Stoxx 50 futures (STXEc1) surged 2.5%, recovering from a slump in the past week that was fuelled by concerns of another wave of global coronavirus infections. German DAX futures (FDXc1) were up 2.7%, while FTSE 100 futures (FFIc1) gained 2.2%.

© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

S&P 500 futures also added 1.1%, looking set to extend gains for the benchmark S&P 500 index (SPX) for a third straight day.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.