The New York Stock Exchange (NYSE) is photos from May 26, 2020 on Wall Street in New York City.
Johannes Eisele | AFP | fake pictures
Stock futures held steady in trading overnight on Monday after a strong rally on Wall Street to start the week.
Dow Jones Industrial Average futures fell about 30 points. S&P 500 futures and Nasdaq 100 futures were little changed.
The overnight action followed a strong day on Wall Street that saw the Dow jump over 450 points. The S&P 500 gained 1.5% on Monday for its fifth consecutive positive session, while the Nasdaq rose 2.2% to hit a record high.
The biggest tech stocks were based on its momentum as Amazon rose 5.7% to trade above $ 3,000 each for the first time. Netflix rose 3.5% to hit a record, while Apple, Microsoft, Alphabet, the father of Google and Facebook, earned at least 2% each on Monday.
The market continued to ignore a continued increase in coronavirus cases in the US The number of people hospitalized with Covid-19 grew 5% or more on Sunday in 23 states, including Texas, which reported a record more than 8,000 hospitalizations on Sunday. California Governor Gavin Newsom asked six additional counties Monday to shut down their indoor businesses.
“While we expect continued volatility, we believe there is reason to be optimistic that economies and markets can weather the recent acceleration of infections,” Mark Haefele, chief investment officer at UBS, said in a note. “There are indications that health systems are better adapting to COVID-19, reducing the need for restrictions on freedom of movement. Economic data continues to point to resilience.”
The Labor Department will release the May figure for job openings on Tuesday at 10:00 am ET. Economists surveyed by Dow Jones expect total vacancies to drop to 4.5 million in May from 5.05 million in April, which was the lowest total since December 2014.
The government’s Job Vacancy and Labor Rotation Survey is one month behind the most-followed non-farm payroll report, which showed a 4.8 million rise in June and a 2.7 million jump in May.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day scheduling from around the world.
.
