Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures remained stable in trading overnight on Sunday before the final trading week of 2020.
Futures on the Dow Jones Industrial Average are up 30 points. The S&P 500 futures gained 0.1% and the Nasdaq 100 futures traded up 0.2% more.
Investors oversaw the status of a $ 900 billion Covid-19 relief bill, which was passed by both houses of Congress but which President Donald Trump has not signed into law. His resistance threatens to stop the government when funding runs out on Tuesday at 12:01 a.m. Trump has criticized direct payments of the $ 600 bill to Americans, then demanding $ 2,000.
“Trump has turned what is normally one of the slowest weeks of the year into a rather complicated period as investors watch as the House can lift its defensive veto and meet its implicated threat to veto budget legislation / stimulus, “Adam Crisafulli, founder of Vital Knowledge, said in a note.
Trump tweeted Sunday night that there will be “good news” on the relief bill.
Millions of Americans lost their increased unemployment benefits as the pandemic unemployment assistance program expired overnight.
Wall Street arrives a quiet holiday week where major averages record flat returns. The S&P 500 fell 0.2% last week as some investors withdrew chips at the end of the year. The 30-share Dow gained 0.1% over the same period.
Profit-taking could increase in the last week of the year, which has so far had surprisingly strong returns. The S&P 500 has gained 14.6% year-on-year so far, while the Dow has risen 5.8%. The Nasdaq has risen 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 new Covid-19 infections increase after the Christmas and New Year celebrations. Two Pfizer and Moderna vaccines have begun the distribution process this month. To date, more than a million people in the U.S. have been vaccinated.
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