On Monday night, US stock futures rose slightly after the average price of major stocks rose to a record high.
The Dow Jones Industrial Average futures rose 92 points, or 0.3%. S&P 500 and Nasdaq 100 futures rose 0.3% and 0.2%, respectively.
The Dow Jones Index rose 204 points, or 0.7%, earlier in the day, while the S&P 500 and Nasdaq Composite Index rose 0.9% and 0.7%, respectively.
These gains came after President Donald Trump signed a $900 billion coronavirus rescue plan into law. The measure includes a direct payment of $600 to most Americans. Signed a few days after Trump requested direct payment of $2,000. The House of Representatives passed a bill to increase the direct payment to $2,000, but the Republican-led Senate is unlikely to pass this measure.
Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, said: “The launch of the vaccine, the combination of fiscal stimulus and loose monetary policy continue to create a positive background for stocks in 2021
Monday’s gains brought the S&P 500 index up 15.6% this year, while the Dow Jones Industrial Average rose 6.5%. At the same time, due to investors flocking to major technology companies such as Apple, Amazon and Facebook, the Nasdaq Composite Index has soared by more than 43% in 2020.
In the United States, the number of coronavirus cases has been increasing, which makes people doubt the economic recovery entering the new year. CNBC’s analysis of Johns Hopkins University data shows that in the past week, at least 184,000 new infections were reported every day in the United States.
Jason Pride, Chief Information Officer of Glenmed Private Wealth, wrote: “The distribution of vaccines has officially begun…but the epidemic has reached a level of attention in many respects.”
“The resurgence of the virus has led to nationwide lockdown measures that hinder efforts to reopen the economy. If the spread of the virus is not controlled by the end of the year, this is likely to be a key move in early 2021 before the vaccine becomes widespread. .distribution”.
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