- Stocks continue to shrug off the latest U.S.-China tensions as President Trump explores a variety of tax cuts, while lawmakers attempt to restart talks over a coronavirus stimulus package.
- Contracts tied to the S&P 500 suggest a 25-point opening bell gain that would take the broader benchmark to within 16 points of its intraday high of 3,393.5 set on February 19.
- Dow futures are recording even bigger gains, up 1.1%, as investors extend a rotation into value stocks - which tend to outperform growth coming out of a recession - from heavyweight tech names.
- President Vladimir Putin also announced that Russia had registered the first coronavirus vaccine in the world, which was developed by Gamaleya Research Center.
- In commodities, crude oil (CL1:COM) are gaining 1.75%, while spot gold is selling off, down 2% below $2,000/oz.
- Rates are ticking up as risk appetite grows before the bell. The 10-year Treasury yield is at 0.6%, up nearly 3 basis points.
