U.S. inventory futures are rising as Wall Avenue will hit the final week of 2020

Traders work on the trading floor of the New York Stock Exchange.

NYSE

The stock futures rose slightly in night trading on the Sunday before the last trading week of 2020.

The futures on the Dow Jones Industrial Average rose 149 points. S&P 500 futures and Nasdaq 100 futures were also trading in slightly positive territory.

President Donald Trump signed a US $ 900 billion Covid-19 Aid Act that prevents the government from closing and extends unemployment benefits to millions of Americans. The signing came days after Trump proposed vetoing the legislation, calling for $ 2,000 in direct payments to Americans instead of $ 600.

“I’m signing this bill to restore unemployment benefits, stop evictions, provide rental support, add money for PPP, get our airline employees back to work, add significantly more money to distribute vaccines, and much more,” Trump said in a statement on Sunday evening.

Wall Street has had a quiet week of vacation with major averages posting flat returns. The S&P 500 fell 0.2% last week as some investors took off year-end chips. The 30-share Dow gained 0.1% over the same period.

Profit taking could rise in the last week of the year, which has seen surprisingly high returns so far. The S&P 500 is up 14.6% year-to-date, while the Dow is up 5.8%. The Nasdaq is up 42.7% this year as investors preferred high-growth technology names during the ongoing Covid-19 pandemic.

Dr. Anthony Fauci warned on Sunday that the country could see a surge in new Covid-19 infections after Christmas and New Years. Two vaccines from Pfizer and Moderna started the distribution process this month. To date, over a million people have been vaccinated in the United States.

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