Futures U.S. stock markets rose slightly Monday night after a rally that lifted major averages to new record highs.
Dow Jones Industrial Average futures traded 48 points higher, or about 0.1%. The S&P 500 and Nasdaq 100 futures gained 0.1% each.
The Dow jumped 204 points, or 0.7%, earlier in the day, while the S&P 500 and Nasdaq Composite were up 0.9% and 0.7%, respectively.
Those gains came after President Donald Trump signed a $ 900 billion coronavirus relief package. The measure includes a direct payment of $ 600 to most Americans. The signing came days after Trump demanded a direct payment of $ 2,000. The House will have to vote to increase direct payments to $ 2,000, but the Republican-led Senate is unlikely to pass the measure.
“The combination of vaccine deployment, fiscal stimulus and a simple monetary policy continues to create a positive backdrop for actions from 2021,” wrote Mark Haefele, investment director at UBS Global Wealth Management. agreement on a new U.S. fiscal stimulus package removes a recent hurdle and global central banks continue to support the recovery by maintaining (and expanding) monetary accommodation. “
Monday’s concentration rose the S&P 500 by 15.6% year-on-year and the Dow by 6.5% in that time period. The Nasdaq Composite, meanwhile, has risen more than 43% in 2020, as investors turned to big tech names like Apple, Amazon and Facebook.
However, the number of coronavirus cases continues to rise in the United States, calling into question the economic recovery approaching the new year. Over the past week, at least 184,000 new infections a day have been reported in the United States, according to a CNBC analysis of data from Johns Hopkins University.
“Vaccine distribution has already officially begun … although the pandemic has reached levels on several fronts,” wrote Jason Pride, Glenmede’s private wealth CIO.
“Viral resurgence has induced blockade measures across the country, slowing economic reopening efforts. If viral spread is not controlled by the end of the year, it will probably be a key initiative to do so in early 2021 before the vaccine has become widely distributed, ”he added proudly.
Subscribe to CNBC PRO for exclusive information and analysis and live scheduling of weekdays from around the world.