Stock futures opened cheaper Monday evening at the conclusion of a mixed session on Wall Street.
The Nasdaq ended the normal trading day at a record high as tech shares marched higher. The S&P 500 and Dow edged lower, nonetheless, 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 measures to fund the government and also give another virus relief package. Lawmakers are actually poised to vote Wednesday on a continuing resolution to push back a deadline to fund the government through Friday to week that is following in order to stay away from a government shutdown, House Majority Leader Steny Hoyer said in a tweet.
A package to offer hundreds of huge amounts of dollars more in virus relief aid was also supposed to be included in the government spending bill. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer have backed the $908 billion coronavirus stimulus proposal a bipartisan group of lawmakers released last week, nonetheless, if Senate Majority Leader Mitch McConnell will help support the near-1dolar1 1 trillion program as well as the billions it will allocate to state and local governments remains not clear.
Meanwhile, still-rising coronavirus case counts have raised the specter of further lockdowns in the land, increasing the urgency for lawmakers to provide support to Americans while they await a vaccine. Coronavirus cases have averaged almost 200,000 each day in the U.S. over the past week, and the average of number of deaths reported everyday increased to more than 2,000 every single day with the same time, nearing amounts from April.
We haven’t seen the scope of spread that is going to happen after the Thanksgiving holidays, and we are already learning about many health methods that are reaching capability in phrases of ICU beds particularly, Johns Hopkins Medicine’s Dr. Brian Garibaldi told Yahoo Finance on Monday. Things will deteriorate before they get better.
But also given the still-dire virus situation, traders have mainly kept piling into stocks.
This’s obviously the second if not the third trend in a number of areas of the planet. I think the industry has noticed this film before, and really the industry is looking through, Anik Sen, PineBridge Investments worldwide head of equities, told Yahoo Finance. Short-term, of course, you will discover some uncertainties in terms of the trajectory of the pandemic and short-term uncertainties in terms of the policy reaction. however, I think the industry is becoming much more comfortable that we ought to see a stimulus bill in the next few days or 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 principle movements in markets, as of 6:07 p.m. ET:
S&P 500 futures (ES=F): 3,683.25, printed 7.5 points or 0.2%
Dow futures (YM=F): 29,993.00, down sixty four points or perhaps 0.21%
Nasdaq futures (NQ=F): 12,580.5, down 15.5 points or 0.12%