Stock futures opened lower Monday evening at the end of a mixed session on Wall Street.
The Nasdaq finished the normal trading day at a record high as tech shares marched much higher. The S&P 500 and Dow edged lower, however, to move back from the record levels the 2 indices achieved on Friday.
Investors this week have been closely monitoring advancements out of Washington, with lawmakers still working to agree on actions to fund the government and also offer 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 which is next in order to avoid a government shutdown, House Majority Leader Steny Hoyer said in a tweet.
A kit to provide hundreds of billions 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 proposition a bipartisan group of lawmakers released last week, even thought whether Senate Majority Leader Mitch McConnell will help support the near 1dolar1 1 trillion weight loss program and also the billions it’ll allocate to local governments and state remains unclear.
Meanwhile, still rising coronavirus case counts have also raised the specter of further lockdowns in the land, raising the urgency for lawmakers to offer help to Americans while they await a vaccine. Coronavirus cases have averaged nearly 200,000 every single day in the U.S. with the past week, as well as the average of number of deaths reported everyday increased to more than 2,000 each day with the same period, nearing levels from April.
We haven’t seen the amount of spread that is going to take place after the Thanksgiving holidays, and we’re previously hearing about a lot of health methods which are reaching capacity in terminology 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 even given the still-dire virus circumstance, traders have mainly kept piling into stocks.
This is of course the second if not the third trend in several parts of the earth. I believe the industry has noticed this movie before, and really the industry is looking through, Anik Sen, PineBridge Investments worldwide head of equities, told Yahoo Finance. Short term, of course, there are some uncertainties in phrases of the trajectory of the pandemic and short-term uncertainties in terms of the policy effect. Though In my opinion the market is getting more comfortable that we should see a stimulus bill in the next couple of days or prior to the year end… There is plenty of market opportunity remaining.
6:07 p.m. ET Monday: Stock futures point lower
Below had been the main actions in markets, as of 6:07 p.m. ET:
S&P 500 futures (ES=F): 3,683.25, printed 7.5 points or perhaps 0.2%
Dow futures (YM=F): 29,993.00, down sixty four points or even 0.21%
Nasdaq futures (NQ=F): 12,580.5, down 15.5 points or perhaps 0.12%