Traders work on the floor of the New York Stock Exchange.
Stock futures rose slightly in overnight trading on Sunday ahead of the last trading week of 2020.
President Donald Trump signed the $ 900 billion Covid-19 relief bill into law, to avoid government shutdowns and expand unemployment benefits to millions of Americans. The signature came days after Trump suggested he would veto the legislation, and demanded that Americans be paid $ 2,000 directly, instead of $ 600.
In a statement on Sunday, Trump said: “I sign this bill to restore unemployment benefits, stop evictions, provide rental assistance, add money to the public-private partnership, get airline workers back into work, add more money to distribute vaccines, and more. So much « evening.
Wall Street is approaching a quiet holiday week as the major averages posted flat returns. The S&P 500 index fell 0.2% last week as some investors took the chips at the end of the year. The Dow of 30 stocks posted a gain of 0.1% for the same period.
Profit taking could pick up in the last week of the year, which has so far seen surprisingly strong returns. The S&P 500 is up 14.6% throughout the year so far, while the Dow is up 5.8%. The Nasdaq is up 42.7% this year as investors favored high-growth tech names during the ongoing Covid-19 pandemic.
Dr. Anthony Fauci warned Sunday about that The country could see an increase in new Covid-19 infections After the Christmas and New Year celebrations. Distribution of two vaccines from Pfizer and Moderna began this month. To date, more than a million people have been vaccinated in the United States.
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