US stock futures rose slightly on Wednesday evening as investors awaited news of stimulus talks and the vaccine approval process.
The futures contract linked to the Dow Jones Industrial Average rose 30 points, or 0.1%. The S&P 500 and tech-heavy Nasdaq 100 gained 0.2% and 0.1%, respectively.
The move comes after a relatively quiet day on Wall Street as investors watched developments in Washington over possible stimulus bills. During the session on Wednesday, the Dow and S&P 500 rose 0.2%, while the Nasdaq Composite fell 0.1%. The slight move for the S&P 500 resulted in a new record high.
On Capitol Hill, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer issued a joint statement urging Republicans to work with them on the second round of the Covid Relief Fund, using the Senate mediators’ bipartisan proposal as a starting point.
Senate Majority Leader Mitch McConnell rejected the 90 908 billion proposal after it was unveiled Tuesday, and Kentucky Republicans have repeatedly said they believe a second round of stimulus should be as small as ડો 500 billion.
“I don’t think anyone should count on that stimulus, and I think a prudent investor says, ‘Well, if it comes along, good, but let’s not believe it,'” said Joan Feeney, portfolio manager at Advisors Capital Management. Was. Said on the “closing bell”.
On Wednesday, the UK became the first country to allow emergency approval of the Covid-19 vaccine from Pfizer and Bioentech. U.S. Regulators are expected to decide on a similar vaccine from this vaccine and Moderna earlier this month, possibly allowing distribution to begin before the start of 2021.
Still, the vaccine rollout is expected to take several months, as pharmaceutical companies increase production for the global population, with many health experts warning of harsh winters in the United States. More than 272,000 people have died in the country due to the virus, according to data from Johns Hopkins University.
On Wednesday evening, the House of Representatives unanimously passed a bill under which U.S. companies could withdraw their shares if they wanted to be listed on a U.S. exchange. Auditing standards should be followed. The bill now goes to President Donald Trump, who is expected to sign the law.
On Thursday, preliminary claims data will give investors a final reading in the job market before Friday’s main employment report. Economists surveyed by the Dow Jones are expecting 780,000 new employment claims, almost unchanged from the previous week.
Investors will also keep an eye on the bond market, where 10-year Treasury yields have flirted with 1% in recent days.
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