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Stock futures rose on Sunday night following a four-week bearish move on Wall Street.
Futures on the Dow Jones Industrial Average have risen nearly 100 points. S&P 500 futures are up 0.3% and Nasdaq 100 futures are up 0.3%.
The S&P 500 and 30 stock Dow were coming in their fourth straight negative week, down 0.6% and 1.8%, respectively. It marked the first time since August 2019 that both benchmarks had suffered a four-week losing streak.
The tech-heavy Nasdaq rose 1% last week, posting its first positive in week four as the tech sector G sector bounced back slightly from the recent deep run.
Signs of a developed epidemic keep investors on edge. The new daily coronavirus cases in New York State on Saturday are the first time since the beginning of June that the state has broken the 1000 threshold of new infections.
The historically weakest month for the stock is on the main average track for posting a heavy average in September. The Dow and S&P 500 are down 4.4% and 8.8%, respectively, while the Nasdaq is down 7..3%. The downturn led to a strong comeback from coronavirus sales that saw the S&P 500 climb more than 50% from its March low.
“While markets are turning to the types of extremes we saw a month ago, they tend to take very deep improvements before our worst-case scenario is behind us,” Matthew Male, Miller Tabek’s chief market strategist, said in a note on Sunday. “He usually sees a lot of ‘waves’ of decline.”
Following negotiations between the House Democrats and the Trump administration in early August, investors continue to monitor developments on further financial stimulus.
House Speaker Nancy Pelosi said Sunday that a last-minute coronavirus aid deal is on the table as House Democrats push for a small aid package of about 4 4.4 trillion. The chamber is expected to vote on the bill next week.
Meanwhile, on Saturday, President Donald Trump announced that he would nominate Judge Amy Connie Barrett to fill the vacancy left in the Supreme Court following the death of Justice Ruth Bader Ginsberg.
The move organizes a confirmed fight weeks before election day. The hearing to consider Trump’s nominee is set to begin Oct. 12, Senator Lindsay Graham said late Saturday night.
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