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 much higher. The S&P 500 and Dow edged lower, nevertheless, to move back from the record amounts the two 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 provide another virus relief package. Lawmakers are poised to vote Wednesday on a continuing resolution to push back a deadline to fund the government through Friday to week that is following to be able to stay away from a government shutdown, House Majority Leader Steny Hoyer said in a tweet.
A kit to offer hundreds of billions of dollars more in virus relief aid was likewise expected 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 proposal a bipartisan group of lawmakers released last week, however, if Senate Majority Leader Mitch McConnell will help support the near-1dolar1 one trillion weight loss plan and also the billions it’ll allocate to local governments and state remains not clear.
Meanwhile, still rising coronavirus case counts have likewise raised the specter of more lockdowns of the country, increasing the urgency for lawmakers to provide help to Americans even though they await a vaccine. Coronavirus cases have averaged nearly 200,000 per day in the U.S. with the past week, along with the average of number of deaths reported on a daily basis increased to more than 2,000 every single day over exactly the same time, nearing levels from April.
We have not seen the scope of spread that’s going to take place after the Thanksgiving holidays, and we are already hearing about a lot of wellness systems that are reaching capacity in phrases of ICU beds particularly, Johns Hopkins Medicine’s Dr. Brian Garibaldi told Yahoo Finance on Monday. Things will get worse before they get better.
But also given the still dire virus circumstance, traders have mostly kept piling into stocks.
This’s of course the next if not the third trend in many areas of the earth. I think the market has seen this movie before, and in fact the market is actually scrolling through, Anik Sen, PineBridge Investments global head of equities, told Yahoo Finance. Short-term, of course, you will find some uncertainties in terms of the trajectory of the short-term and pandemic uncertainties in terms of the policy effect. But In my opinion the market is getting much more comfortable that we need to see a stimulus bill in the next day or two or prior to the year-end… There is plenty of market opportunity left.
6:07 p.m. ET Monday: Stock futures point lower
The following were the main moves in markets, as of 6:07 p.m. ET:
S&P 500 futures (ES=F): 3,683.25, down 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%