Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures remained stable in the early morning trading on Sunday, before the last week of trading in 2020.
Futures in the Dow Jones Industrial Average roes 30 points. The S&P 500 futures gained 0.1% and the Nasdaq 100 futures traded 0.2% more.
Investors monitored the status of a $ 900 billion Covid-19 relief bill, which was passed by both chambers of Congress, but was not sanctioned by President Donald Trump. Their resistance threatens to bring the government to a standstill when funding runs out on Tuesday at 12:01 pm. Trump criticized $ 600 direct payments from the account to Americans, demanding checks for $ 2,000.
“Trump has turned what is normally one of the slowest weeks of the year into a very busy period, as investors watch to see if the House can override its defense veto and whether it fulfills its implicit threat to veto budget / stimulus legislation. , “Adam Crisafulli, founder of Vital Knowledge, said in a note.
Trump tweeted on Sunday night that there will be “good news” in the relief bill.
Millions of Americans lost increased unemployment benefits when the Pandemic Unemployment Assistance program expired overnight.
Wall Street is coming out of a quiet holiday week, where the main averages recorded stable returns. The S&P 500 fell 0.2% last week, with some investors withdrawing chips at the end of the year. The 30-share Dow saw a 0.1% gain in the same period.
Profit-taking may increase in the last week of the year, which has so far delivered surprisingly strong returns. The S&P 500 gained 14.6% in the year, while the Dow rose 5.8%. Nasdaq soared 42.7% this year, as investors favored high-growth technology names during the ongoing Covid-19 pandemic.
Dr. Anthony Fauci warned on Sunday that the country could see an increase in new Covid-19 infections after the Christmas and New Year celebrations. Two vaccines from Pfizer and Moderna started the distribution process this month. So far, more than one million people in the United States have been vaccinated.
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