Traders work on the floor of the New York Stock Exchange.
American stock futures opened flat on Sunday night ahead of the first session of 2021 after a volatile year of trading.
The Dow Jones Industrial Average futures were down just 37 points, or 0.1%. S&P 500 and Nasdaq 100 futures declined marginally.
Both the Dow and the S&P 500 closed at record highs on Thursday, the final trading day of 2020, to wrap up a year of surprisingly strong gains.
The 30-stock Dow ended last year with an advance of 7.3%, and the S&P 500 rose 16.3% during that time. At one point in 2020, both market benchmarks were down more than 30% as the coronavirus epidemic devastated the global economy.
The original outlook for 2020 was the Nasdaq Composite, which jumped 43.6% to its biggest one-year gain since 2009. The Nasdaq’s performance came at a time when investors and traders were flocking to tech stocks over the Kovid-19 outbreak.
Unprecedented financial and monetary support for the economy – with the development and rollout of the Multiple Covid-19 vaccine – helped the market recover from its sharp decline to trade back at all-time highs.
“Based on the two pillars of integrated fiscal and monetary policy of the US Treasury and the Federal Reserve Board and the successful COVID vaccine rollout, the stock market is positioned for further gains in 2021,” wrote Mark Chaikin, CEO of Chaikin Analytics. “However, we do imagine some difficulties along the way.”
The rollout of multiple U.S. Covid-19 vaccines has slowed recently due to supply constraints.
The head of Operation Operation Worp Speed, Monsef Sloan, said Sunday that the U.S. could advance its vaccine rollout by giving a group of Americans half the dose of the drug developed by Moderena. “We know that for a half-dose moderne vaccine for people aged 18 to 55 … induces a similar immune response to a 100-microgram dose.”
Concerned about the pace of economic recovery in 2021, the U.S. The number of cases of coronavirus is also increasing. Data compiled by Johns Hopkins University shows that more than 20 million Covid-19 infections have been confirmed in the U.S. 1.8 million virus-related deaths worldwide. Some cases of new coronavirus strains have also been confirmed across the country.
The state is also keeping an eye on Wall Street Georgia as it prepares for Tuesday’s Senate runoff election, which could give Democrats a majority in the chamber.
“With Georgia’s runoff elections on Tuesday and the electoral electoral college led play on Wednesday, two-way trade and short-term volatility are expected to increase this week,” Chacky added.
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