Stock market futures soar, stimulus checks could arrive within days

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Here’s what you need to know to browse the markets today.

• Investors sent up stock futures on Sunday night, before the first day of trading after Senate approval of the $ 1.9 trillion Covid-19 relief bill. The Dow Jones Industrial Average futures gained 225 points, or 0.87%, while the S&P 500 and Nasdaq Composite futures rose 0.6%. Next week’s earnings reports include XPeng,

Casey’s General Stores,

and

Point correction

on Monday, followed by

Dick’s Sporting Goods,

H&R Block,

and

Thor Industries

on Tuesday.

AMC Entertainment,

Campbell soup,

and

Oracle

disclose earnings on Wednesday.

DocuSign,

JD.com,

and

Ulta Beauty

announce the results on Thursday, and

Buckle

and

Northern Oil and Gas

report on Friday. The National Federation of Independent Businesses releases its February Small Business Optimism Index on Tuesday, and the Bureau of Labor Statistics consumer price index comes out Wednesday.

• Americans will start receiving stimulus checks this month. “This plan will have the checks released, starting this month, to the American people who are in desperate need of help,” said President Joe Biden on Saturday, adding: “More than 85% of American families will receive direct payments from the US $ 1,400 per person. ”Single people with an adjusted gross income of $ 75,000 or less, heads of households with an income of up to $ 112,500 and couples entering with an income of up to $ 150,000 will receive the full amount per person, provided they have a Security Number.

Before payments are made, the Chamber of Deputies needs to vote on the Senate version of the bill, which it plans to do on Tuesday. So, Biden needs to sign the bill. It will probably take another two weeks for payments to start arriving in bank accounts, Garrett Watson, a senior policy analyst at the Tax Foundation, told CNBC, based on the timing of previous stimulus checks. People who have already provided their direct deposit information to the IRS are likely to receive payments first, as funds will be transferred electronically, while others will have to wait for paper checks or debit cards in the mail.

• Biden signed an executive order expanding access to voting on Sunday. The order requires federal agencies to submit proposals to promote voter registration and participation in the next 200 days. “Every eligible voter must be able to vote and have that vote counted,” said Biden before signing at a virtual event commemorating “Bloody Sunday” in 1965, during which the police beat up black protesters who demanded the right to vote when crossing the street. Edmund Pettus bridge in Selma, Ala. “I also urge Congress to fully restore the Voting Rights Act, named after John Lewis,” added Biden.

• The world economy is expected to grow 6% in 2021, the fastest growth in almost half a century, Oxford Economics said. If the US and China grow at the same pace, the US will make a greater contribution to the recovery, since the U.S. economy is about a third larger than China’s overall, the Wall Street Journal reported.

Goldman Sachs

estimated that the U.S. economy will grow 7% this year, after shrinking 3.5% last year, while China will grow 8% in 2021, after growing 2.3% in 2020.

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