Stock Futures Rise After Congress Passed a Stimulus Deal
On Sunday night stock futures rose moderately after news broke that lawmakers had passed a new stimulus bill, according to CNBC.
The federal government was on thin ice due to a shutdown deadline on Sunday night.
- Dow Jones Industrial Average futures gained 70 points.
- S&P 500 futures rose 1.75 points.
- Nasdaq 100 futures rose 0.27 percent.
Also on Monday, Tesla will open as a part of the S&P 500.
“In the eyes of stocks, the inexorable vaccination process, which is only just getting started, is more powerful than the current trends in cases and lockdowns, and this will prevent markets from delving too deeply down a well of pandemic despair,” Adam Crisafulli, founder of Vital Knowledge, said on Sunday. “Recall, the three pillars of the rally all remain very much in place: vaccines, strong corporate earnings, and massive stimulus.”