US stock futures rose slightly on Monday night, taking the key average to a fresh record high after the rally.
Dow Jones Industrial Average futures are up 48 points, or about 0.1%. The S&P 500 and Nasdaq 100 futures are up 0.1% each.
The Dow rose 204 points, or 0.7%, at the start of the day, while the S&P 500 and Nasdaq Composite rose 0.9% and 0.7%, respectively.
The benefit comes after President Donald Trump signed into law a into 900 billion coronavirus relief package. The move involves a direct payment of $ 600 to most Americans. The signing comes days after Trump demanded a ચ 2,000 direct payment. The House is ready to vote on raising direct payments to 2,000, but the GOP-led Senate is unlikely to pass the move.
“The combination of vaccine rollouts, monetary stimulus and simple monetary policy continues to create a positive backdrop for equities in 2021,” wrote Mark Fiffer, chief investor at UBS Global Wealth Management. “Agreements on the new US fiscal stimulus package remove recent hurdles, and global central banks continue to support recovery by maintaining (and expanding) financial housing.”
Monday’s rally boosted the S&P 500 by 15.6% for the year and the Dow by 6.5% over the same period. The Nasdaq Composite, meanwhile, rose more than 43% in 2020 as investors flocked to big tech names such as Apple Pal, Amazon and Facebook.
U.S. The number of cases of coronavirus in India has been steadily rising, however, the recovery in the new year is being questioned. In the past week, at least 184,000 new infections have been reported every day in the U.S., according to a CNBC analysis of data from Johns Hopkins University.
“Vaccine distribution has now officially begun … yet the epidemic has reached levels on multiple fronts,” wrote Jason Pride, CIO of private property at Glenmade.
“Lockdown measures have been taken across the country in the wake of this viral resurgence, vigorous provision for economic recovery efforts. If the viral spread is not brought under control by the end of the year, it will be an important initiative to do so by early 2021 Delivered, “Gaurav added.
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