Stock futures opened lower Monday evening at the tail end of a mixed session on Wall Street.
The Nasdaq finished the standard trading day at a record high as tech shares marched much higher. The S&P 500 and Dow edged lower, nonetheless, to move back from the record quantities the 2 indices attained on Friday.
Investors this week have been closely monitoring developments out of Washington, with lawmakers still working to agree on steps to fund the government as well as give another virus relief program. Lawmakers are actually poised to vote Wednesday on a continuing resolution to push back a deadline to fund the government from Friday to week which is next in order to avoid a government shutdown, House Majority Leader Steny Hoyer said in a tweet.
A package to provide hundreds of huge amounts of dollars more in virus relief aid was likewise likely to be incorporated 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, nonetheless, whether Senate Majority Leader Mitch McConnell will support the near-1dolar1 1 trillion weight loss program and also the billions it will allocate to local governments and state remains unclear.
Meanwhile, still-rising coronavirus situation when counts have also raised the specter of further lockdowns of the land, increasing the urgency for lawmakers to provide support to Americans although they await a vaccine. Coronavirus cases have averaged nearly 200,000 every single day in the U.S. over the past week, and the average of number of deaths reported on a daily basis increased to more than 2,000 each day over exactly the same period, nearing levels from April.
We haven’t seen the amount of spread that’s going to occur after the Thanksgiving holidays, and we’re previously hearing about many wellness methods that are reaching capacity in phrases of ICU beds specifically, Johns Hopkins Medicine’s Dr. Brian Garibaldi told Yahoo Finance on Monday. Things are sure to deteriorate before they get better.
But also given the still-dire virus circumstance, traders have mainly kept piling into stocks.
This’s naturally the second if not the third trend in several areas of the planet. I think the market has seen this film before, and really the industry is scrolling through, Anik Sen, PineBridge Investments worldwide head of equities, told Yahoo Finance. Short-term, naturally, there are a number of uncertainties in terminology of the trajectory of the pandemic and short-term uncertainties in terms of the policy response. although In my opinion the market is actually getting more comfortable that we should see a stimulus bill in the next couple of days and prior to the year-end… There is a lot of market opportunity left.
6:07 p.m. ET Monday: Stock futures point lower
Here had been the primary moves in markets, as of 6:07 p.m. ET:
S&P 500 futures (ES=F): 3,683.25, printed 7.5 points or even 0.2%
Dow futures (YM=F): 29,993.00, down 64 points or perhaps 0.21%
Nasdaq futures (NQ=F): 12,580.5, down 15.5 points or perhaps 0.12%