Rep. Jody Hice, Republican of Georgia, says there are many negotiations underway with the House and Senate, adding that “everything is on the table,” including rising unemployment, as they hope this next round of stimulus will help. for the economy to continue recovering.
US equity futures are trading higher to start the new week, which will be loaded with key earnings reports.
The major futures indices suggest a 0.4 percent gain when Monday’s session on Wall Street begins.
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Various issues could influence market direction, including tensions between the United States and China, coronavirus cases, and a plethora of reports of corporate earnings.
Investors are gearing up for the busiest week of the second-quarter earnings season. A dozen of Dow Industrial’s 30 companies are ready to report, along with 179 companies in the S&P 500, or more than a third of the benchmark. Among the names to be reported during the week will be Facebook on Wednesday, then Apple, Amazon and Google on Thursday.
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In Asian markets, the Nikkei in Tokyo fell 0.2 percent, the Hang Seng in Hong Kong lost 0.5 percent, and the Shanghai Composite Index of China fell 0.2 percent.
Investors were rocked last week by the latest diplomatic dispute between the United States and China. The Trump administration told Beijing last week to close its consulate in Houston. China responded by ordering the closure of the United States consulate in the city of Chengdu, in southwest China.
Gold rose $ 31.10 to a record $ 1928.50 an ounce in a sign that investors were looking for safe havens to park the money.
On Friday, the Wall Street benchmark S&P 500 index lost 0.6 percent, the Dow Jones Industrial Average fell 0.7 percent and the Nasdaq Composite fell 0.9 percent.
| Heart | Security | Latest | Change | Change% |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 26469.89 | -182.44 | -0.68% |
| SP500 | S&P 500 | 3,215.63 | -20.03 | -0.62% |
| I: COMP | NASDAQ COMPOSITE INDEX | 10363.177069 | -98.24 | -0.94% |
Investors are also concerned about the increase in layoffs in the US, as the increase in coronavirus infections causes more companies to close. Additional unemployment benefits expire this week. Congress has yet to agree more financial aid.
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In the energy markets, US benchmark crude fell 16 cents to $ 41.14 a barrel in e-commerce on the New York Mercantile Exchange. The contract rose 22 cents on Friday to hit $ 41.29. Brent crude, used to set the price for international oils, lost 19 cents at $ 43.15 a barrel in London.
Associated Press contributed to this article.
