Markets slow down before opening the bell, as the House plans to vote this week on Covid’s stimulus

U.S. stock futures suggested a lower opening when Monday’s session starts on Wall Street.

The US House of Representatives will likely vote on President Joe Biden’s proposed stimulus package for coronavirus by the end of the week. This would include checks for $ 1,400 for most Americans, additional payments for children and billions of dollars in aid to state and local governments, as well as additional aid to companies affected by the pandemic.

“But time is everything,” Stephen Innes of Axi said in a comment. He noted that concerns about inflation are weighing on the market as the economy recovers from the pandemic crisis as the Biden government struggles to recover the millions of jobs lost.

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“The next stage of the reflection will have to be accompanied more and more by a continuous recovery of economic growth, as the fiscal and monetary stimulus is increasingly incorporated into the price,” he said.

One challenge is to keep inflation under control and minimize the trauma to the markets of adjustments in the Federal Reserve’s ultra-favorable monetary policy.

After an impressive start to the year, bullish sentiment is wavering, said Jeffrey Halley of Oanda.

U.S. stock futures suggested a lower opening when Monday’s session starts on Wall Street. (Courtney Crow / New York Stock Exchange via AP)

“At this stage, the price action looks corrective and I hope the stock will find a buyer wall in any material fall,” he said.

Last week, the S&P 500 extended its losing streak to close 0.2% on Friday at 3,906.71. The Dow Jones Industrial Average and the Nasdaq compound closed essentially stable, while another strong display of smaller companies pushed the Russell 200 index to a 2.2% gain. Meanwhile, Asian stocks were mixed on Monday, with Japan’s benchmark rising, but others falling, amid hopes of a recovery from the coronavirus pandemic with the global launch of vaccines.

Benchmarks increased in Japan, but fell in South Korea, Australia and China. Investors remain focused on the future of the global economies hard hit by COVID-19 and when and if there will be enough stimulus to fix it.

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But President Joe Biden’s $ 1.9 trillion economic package also offers hope for export-dependent regional economies.

Japan’s Nikkei 225 benchmark gained 0.6% to 30,203.61. South Korea’s Kospi fell 0.8% to 3,082.45. Australia’s S & P / ASX 200 fell 0.2% to 6,780.90. Hong Kong’s Hang Seng fell 0.5% to 30,479.73, while the Shanghai Composite fell 1.0% to 3,658.59.

Japan started administering vaccines for COVID-19 last week. It was the last of the industrialized nations in the Group of Seven to begin, starting with health workers. The prospects for new vaccine shipments remain uncertain, according to Taro Kono, the Japanese minister in charge of overseeing the effort.

Vaccination campaigns are expected to start soon in other Asian countries, such as Malaysia, Vietnam and the Philippines.

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In the energy trade, the US reference oil added 89 cents to $ 60.15 a barrel in e-commerce on the New York Mercantile Exchange. He lost $ 1.27 to $ 59.26 a barrel on Friday. Brent crude, the international standard, rose 94 cents to $ 63.85 a barrel.

In currency trading, the US dollar rose to 105.66 Japanese yen from 105.47 yen on Friday night. The euro cost $ 1.2120, compared to $ 1.2125.