S&P 500 Futures print mild gains below 3,700, eye covid vaccine, stimulus update for fresh clues

• S&P 500 Futures consolidates the biggest losses in three weeks.
• UK-EU stay far apart on Brexit, UK MHRA warns over Pfizer vaccine usage.
• US FDA approval to vaccine, ECB and US aid package developments awaited.

S&P 500 Futures rebound from one week low while picking up bids around 3,675, up 0.10% intraday, during early Thursday. In doing so, the US equity derivative part ways from Wall Street's latest performance.

Read: Wall Street Close: Elusive stimulus and Brexit weighed on risk sentiment

The risk barometer recently picked up bids even as the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) suggests cautious usage of Pfizer’s coronavirus (COVID-19). Earlier in the day, UK PM Boris Johnson and European Union (EU) Chief Ursula von der Leyen conveyed that they are far apart on Brexit outlook and will unveil an outline for the future Brexit talks by this weekend.

The US policymakers passed the stopgap funding but are still jostling over the details of the major covid stimulus package. Elsewhere, the US virus infections and death toll surge to record high, which in turn highlight the US Food and Drug Administration’s (FDA) decision over Pfizer vaccine approval, up for publishing later in the day.

It’s worth mentioning that the US-China tussle continues with the Trump administration every sanctioning a few more of the diplomats from Beijing. Also o the same front is China’s trade tussle with Australia.

Amid these plays, Japan’s Nikkei 225 and Australia’s ASX 200 drop by near 0.40% intraday whereas the US 10-year Treasury yields decline 1.6 basis points (bps) to 0.925% by press time.

Moving on, vaccine headlines and COVID-19 news will join the Brexit updates to entertain the market players on the busy Thursday. The European Central Bank’s (ECB) monetary policy decision, the US Consumer Price Index (CPI) for November and US stimulus developments are extra catalysts to watch.

Read: ECB Preview: More money but no honey, Lagarde may lower the euro if she wants to