On January 12, 2021, a woman walks across the New York Stock Exchange (NYSE) on Wall Street in New York.
ANGELA WEISS | AFP | Getty Images
In overnight trading on Sunday, US stock futures rose, indicating a strong opening on the first trading day of March.
Dow futures rose 175 points. S&P 500 futures rose 0.7%, and Nasdaq 1
The CDC advisory group voted unanimously on Sunday to recommend Johnson & Johnson’s single-dose Covid-19 vaccine for people 18 years and older, which has strengthened the popularity of the vaccine. The company expects to ship 4 million doses initially.
Last week, rising stock prices suppressed. High interest rates may threaten the dominance of stocks because people think bonds are less risky. The benchmark 10-year Treasury bond yield was as high as 1.6% on Thursday, but fell back to about 1.41% on Friday.
The 10-year U.S. Treasury bond futures rose in overnight trading, which means that yields will fall on Monday. Price is inversely proportional to revenue.
From Monday to Friday, the Dow Jones Industrial Average and the Standard & Poor’s 500 Index fell 1.7% and 2.5%, respectively.
On Thursday, the high-tech Nasdaq Composite Index fell more than 4%, the worst single-day sell-off since October. Technology companies rely on being able to borrow money at low interest rates to invest in future growth.
Jim Paulsen, chief investment strategist at Leuthold Group, told CNBC: “The bond market volatility has soared to its highest level since April. It was not until calm was found and some new peak yields appeared that this became a concern for investors. the key of.”
Supported by the strong earnings season, positive news about vaccine launches, and the hope of anther stimulus plan, the main average for February rose.
Earlier on Saturday, the House of Representatives passed a $1.9 trillion Covid Relief Act, the “U.S. Rescue Plan Act of 2021.” The Senate will now consider the legislation.
The Dow Jones Index rose 3.15% for the fourth consecutive month in February. The S&P 500 Index rose 2.61% for the second consecutive month, and the Nasdaq Composite Index rose nearly 1%.
The final version of Markit’s February U.S. Manufacturing Purchasing Managers Index in February was released at 9:45 EST on Monday. Economists surveyed by Dow Jones expect the index to be 58.5, which is the same as 58.5 in December.
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