The US inventory futures are rising barely after the report soar on Monday
US stock futures rose slightly on Monday evening after the rally pushed key averages to new record highs.
Dow Jones Industrial Average futures traded 48 points, or about 0.1%, higher. The futures on the S&P 500 and Nasdaq 100 gained 0.1% each.
The Dow was up 204 points, or 0.7%, earlier in the day, while the S&P 500 and Nasdaq Composite rose 0.9% and 0.7%, respectively.
Those gains came after President Donald Trump signed a $ 900 billion coronavirus aid package. The measure involves a direct payment of $ 600 to most Americans. The signing came days after Trump requested a direct payment of $ 2,000. The House will vote on increasing the direct payments to $ 2,000, but the GOP-led Senate is unlikely to pass the measure.
“The combination of vaccine launches, fiscal stimulus and simple monetary policy continues to create a positive backdrop for stocks through 2021,” wrote Mark Haefele, chief investment officer at UBS Global Wealth Management. “The agreement on a new stimulus package for the US removes the latest hurdle, and global central banks continue to support the recovery by maintaining (and expanding) monetary safeguards.”
Monday’s rally drove the S&P 500 up 15.6% over the year and the Dow 6.5% over the period. The Nasdaq Composite is up more than 43% in 2020 as investors flocked to big tech names like Apple, Amazon, and Facebook.
However, the number of coronavirus cases in the US continues to rise, casting doubts about the economic recovery as it heads into the new year. Last week, at least 184,000 new infections per day were reported in the United States, according to a CNBC analysis of data from Johns Hopkins University.
“Vaccine distribution has now officially started … but the pandemic has reached proportions on several fronts,” wrote Jason Pride, CIO for personal wealth at Glenmede.
“The virus resurgence has resulted in lockdown measures across the country and slowed down economic reopening efforts. If virus spread is not brought under control by year-end, this will likely be a key initiative to do so in early 2021, before a Vaccine is widely used. ” distributed, “added Pride.
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