Stock futures opened cheaper Monday evening at the tail end of a mixed session on Wall Street.
The Nasdaq ended the standard trading day at a record high as tech shares marched higher. The S&P 500 and Dow edged lower, however, to push back from the record amounts the 2 indices achieved on Friday.
Investors this week have been closely monitoring developments out of Washington, with lawmakers still working to agree on measures to fund the government and also offer 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 next in order to avoid 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 likely 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 proposal a bipartisan group of lawmakers released last week, though if Senate Majority Leader Mitch McConnell will help support the near 1dolar1 1 trillion plan and also the billions it’ll allocate to state and local governments remains unclear.
Meanwhile, still-rising coronavirus case counts have raised the specter of more lockdowns of the land, increasing the urgency for lawmakers to offer support to Americans although they await a vaccine. Coronavirus cases have averaged nearly 200,000 each day in the U.S. with the past week, along with the average of number of deaths reported on a daily basis increased to much more than 2,000 each day with exactly the same time, nearing amounts from April.
We have not seen the extent of spread that’s going to take place after the Thanksgiving holidays, and we’re already learning about a lot of health methods that are reaching capability in terminology of ICU beds in particular, Johns Hopkins Medicine’s Dr. Brian Garibaldi told Yahoo Finance on Monday. Things are sure to get worse before they get much better.
But even given the still-dire virus circumstance, traders have largely kept piling into stocks.
This is of course the next if not the third wave in several parts of the earth. In my opinion the market has seen this movie before, and really the market is actually scrolling through, Anik Sen, PineBridge Investments global head of equities, told Yahoo Finance. Short-term, obviously, you will discover some uncertainties in terminology of the trajectory of the pandemic and short-term uncertainties in terms of the policy effect. But In my opinion the industry is actually becoming more comfortable that we ought to see a stimulus bill in the next few days or prior to the year end… There’s plenty of market opportunity left.
6:07 p.m. ET Monday: Stock futures point lower
Below had been the principle actions in markets, as of 6:07 p.m. ET:
S&P 500 futures (ES=F): 3,683.25, down 7.5 points or perhaps 0.2%
Dow futures (YM=F): 29,993.00, down sixty four points or 0.21%
Nasdaq futures (NQ=F): 12,580.5, down 15.5 points or even 0.12%