S&P/ASX 200 futures continue to be a pinball, stimulus to be unveiled

S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures continue to be ragdolled by the US markets, which were down around 5% overnight on growing virus fears. The S&P 500 Index (INDEXSP:.INX) closed at 2,741.38, −140.85 or down 4.89% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 7,952.05, −392.20 or down 4.70%. The Australian federal government is set to unveil its stimulus package today, which aims to fight the virus-induced economic slump. Commentary suggests the stimulus will target small businesses, pensioners, and the unemployed. However, not everyone is confident the coalition government can produce an effective stimulus package.   Do you trust a man who has spent 12 years saying stimulus packages don’t work to be able to deliver one? #auspol — Wayne Swan (@SwannyQLD) March 11, 2020   Gold down, oil down, AUD flat Gold is down 1.5% overnight trading at US$1,635 per ounce while Crude Oil WTI is down 3.6% to US$33.13 per barrel. The AUD is buying 64.85 US cents, which remains relatively weak.   [REPORT] Morning - US sharemarkets fell by around 5-6% overnight as investors continued to await an economic stimulus package from the White House https://t.co/BZqELji4IU#ausbiz pic.twitter.com/FAjvUtgCfG — CommSec (@CommSec) March 11, 2020