Stock futures opened cheaper Monday evening at the tail end of a mixed session on Wall Street.
The Nasdaq ended the regular trading day at a record high as tech shares marched higher. The S&P 500 and Dow edged lower, nevertheless, to pull back from the record amounts the 2 indices attained on Friday.
Investors this week have been closely monitoring advancements out of Washington, with lawmakers still working to agree on steps to fund the government and also provide another virus relief program. Lawmakers are poised to vote Wednesday on a continuing resolution to push back a deadline to fund the government from Friday to following week in order to stay away from a government shutdown, House Majority Leader Steny Hoyer said in a tweet.
A program to provide hundreds of vast amounts of dollars more in virus relief aid was likewise expected to be integrated in the federal government spending bill. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer have backed the $908 billion coronavirus stimulus proposition a bipartisan group of lawmakers released last week, however, if Senate Majority Leader Mitch McConnell will support the near 1dolar1 1 trillion plan and also the billions it’ll allocate to local governments and state remains not clear.
Meanwhile, still-rising coronavirus situation when counts have likewise raised the specter of further lockdowns of the country, raising the urgency for lawmakers to offer help to Americans although they await a vaccine. Coronavirus cases have averaged nearly 200,000 each day in the U.S. over the past week, along with the average of number of deaths reported on a daily basis increased to more than 2,000 per day over the same time, nearing amounts from April.
We haven’t seen the scope of spread that’s going to take place after the Thanksgiving holidays, and we are previously learning about many wellness methods which are reaching capacity in terminology of ICU beds particularly, Johns Hopkins Medicine’s Dr. Brian Garibaldi told Yahoo Finance on Monday. Things are going to get worse before they get much better.
But also given the still-dire virus situation, traders have largely kept piling into stocks.
This is obviously the next if not the third trend in several areas of the world. In my opinion the market has observed this film before, and indeed the industry is actually looking through, Anik Sen, PineBridge Investments worldwide head of equities, told Yahoo Finance. Short-term, obviously, you will discover a number of uncertainties in phrases of the trajectory of the short-term and pandemic uncertainties in terms of the policy effect. however, I do believe the market is actually becoming much more comfortable that we should see a stimulus bill in the next few days or before the year-end… There is a lot of market opportunity remaining.
6:07 p.m. ET Monday: Stock futures point lower
Here were the primary moves in markets, as of 6:07 p.m. ET:
S&P 500 futures (ES=F): 3,683.25, down 7.5 points or even 0.2%
Dow futures (YM=F): 29,993.00, down 64 points or 0.21%
Nasdaq futures (NQ=F): 12,580.5, down 15.5 points or 0.12%