Stock Futures Rise on Sunday
US stock futures rose on Sunday night as markets looked to rebound after a down week, according to CNBC.
Investors are analyzing the approval and distribution of the COVID-19 vaccine as well as a potential stimulus package.
- Dow futures were up 160 points
- S&P 500 futures were up 0.5 percent
- Nasdaq futures were up 0.41 percent.
Last week, US equity markets fell after lawmakers failed to pass a stimulus aid package. The S&P 500 fell almost 1 percent on the week, the Dow fell 0.57 percent, and the Nasdaq fell 0.7 percent.
This week is expected to be eventful as investors watch the vaccine rollout and an upcoming Federal Reserve policy meeting. Tesla is set to join the S&P 500 this Friday.
“Politically, debate continues on another fiscal bill, which is much needed for much of the population, but will also create an even larger ‘wall of cash’ for consumers to spend as economies fully reopen,” Tavis McCourt of Raymond James said on Sunday. “It is abundantly clear the economy is slowing as local shutdowns continue, but any impact on the equity market has been limited so far. Whether this continues into 1Q is unclear, but our guess is pullbacks will be limited unless something materially changes in the vaccine story.”