Stock futures opened cheaper Monday evening at the end of a diverse session on Wall Street.
The Nasdaq concluded 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 2 indices achieved 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 as well as offer another virus relief program. Lawmakers are poised to vote Wednesday on a continuing resolution to push back a deadline to fund the government through Friday to week which is following to be able to avoid a government shutdown, House Majority Leader Steny Hoyer said in a tweet.
A package to provide a large number of vast amounts of dollars more in virus relief aid was furthermore supposed 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, nonetheless, whether Senate Majority Leader Mitch McConnell will help support the near-1dolar1 1 trillion weight loss plan and the billions it will allocate to state and local governments remains not clear.
Meanwhile, still-rising coronavirus case counts have also raised the specter of more lockdowns in the land, 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. over 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 with the same period, 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 previously learning about many health methods that are reaching capacity in phrases of ICU beds particularly, Johns Hopkins Medicine’s Dr. Brian Garibaldi told Yahoo Finance on Monday. Things will deteriorate before they get much better.
But even given the still-dire virus circumstance, traders have mostly kept piling into stocks.
This’s of course the second if not the third trend in many areas of the world. I do believe the market has seen this movie before, and in fact the market is looking through, Anik Sen, PineBridge Investments worldwide head of equities, told Yahoo Finance. Short-term, naturally, there are some uncertainties in terminology of the trajectory of the pandemic and short-term uncertainties in terms of the policy response. although I think the market is actually becoming much more comfortable that we ought to see a stimulus bill in the next day or two or before the year end… There’s plenty of market opportunity left.
6:07 p.m. ET Monday: Stock futures point lower
The following had been the principle 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 64 points or perhaps 0.21%
Nasdaq futures (NQ=F): 12,580.5, down 15.5 points or 0.12%