Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Dow Futures Up 248 Pts; Vaccine Distribution, Stimulus Talks Eyed

Stock Markets Dec 14, 2020 07:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
EUR/USD
+1.50%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
XAU/USD
+1.44%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
+2.82%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SPY
+2.81%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
+1.83%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LCO
+3.33%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Monday, as investors weigh up the rollout of a Covid-19 vaccine and updates on a new coronavirus relief package.

At 7:05 AM ET (1205 GMT), the Dow Futures contract were up 248 points, or 0.8%, S&P 500 Futures traded 28 points, or 0.8%, higher, and Nasdaq 100 Futures climbed 75 points, or 0.6%. 

The Pfizer/BioNTech Covid-19 vaccine has started to be rolled out from a facility in Michigan to hundreds of distribution centers across the country after the Food and Drug Administration granted emergency authorization of the drug on Friday.

This comes as U.S. coronavirus-linked deaths rapidly approach 300,000. New infections continue to explode, with more than 219,000 cases reported on Saturday, pushing most of California back under lockdown and with indoor dining set to be curtailed again in New York City.   

Given these numbers, investors will be keen to hear if more fiscal stimulus is coming. A bipartisan group of House and Senate negotiators has decided to split its $908 billion Covid relief package into two separate proposals. One bill will be a $748 billion proposal, which includes money for small business loans, jobless benefits and vaccine distribution, and is expected to pass. The second includes $160 billion for state and local aid that includes liability protections for businesses and other entities, the two biggest points of contention.

Additionally, the Federal Reserve is set to hold its final monetary policy meeting of 2020, concluding on Wednesday, against the background of a faltering economic recovery.

That may prompt policymakers to debate making changes to the bank’s asset purchase program, but an alteration of the pace or composition of bond buying is deemed unlikely at this point.

In the corporate sector, Alexion (NASDAQ:ALXN) will be in focus after Britain's AstraZeneca (NASDAQ:AZN) agreed to buy the U.S. drugmaker for $39 billion in its largest ever deal. All eyes will also be on Tesla (NASDAQ:TSLA), as the electric carmaker joins the benchmark S&P 500 index at the end of the week. 

Oil prices pushed higher Monday, continuing recent gains amid confidence the start of the rollout of the Covid-19 vaccine in the U.S., the world’s largest oil consumer, will result in a rebound in demand next year.

Jitters surrounding an oil tanker exploding after being hit by an as-yet unidentified external source while discharging at Jeddah port in Saudi Arabia also resulted in prices rising.

U.S. crude futures traded 1.2% higher at $47.14 a barrel, while the international benchmark Brent contract rose 1.1% to $50.50. Both benchmarks have posted gains for six consecutive weeks, their longest stretch since June.

Elsewhere, gold futures fell 0.7% to $1,830.65/oz, while EUR/USD traded 0.4% higher at 1.2157.

 

Dow Futures Up 248 Pts; Vaccine Distribution, Stimulus Talks Eyed
 

Related Articles

Ray Dalio steps down as Bridgewater's co-CIO
Ray Dalio steps down as Bridgewater's co-CIO By Reuters - Oct 04, 2022 2

(Reuters) -Bridgewater Associates said on Tuesday Ray Dalio had stepped down as one of the hedge fund's co-chief investment officers, as he looks to play a smaller role at the...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
James Bell
James Bell Dec 14, 2020 9:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
vaccine is here so no need for further stimulus. hopefully it will work as advertised.
Mitchel Pioneer
Mitchel Pioneer Dec 14, 2020 8:08AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The criminal manipulation of the US Ponzi Scheme resumes.
Mike ND
Mike ND Dec 14, 2020 8:08AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Put your money in China then
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email