U.S. stock times rose slightly Thursday as investors awaited details of upcoming Biden administration plans for a new coronavirus relief package.
Securities tied to the S&P 500 climbed 0.2%, possibly extending Wednesday’s gains, which lifted the broad market index to the second-highest level in history. Dow Jones business-related futures added 0.3%.
All eyes are on an expected speech Thursday from President Joe Biden who is poised for the size of his planned cost package to support homes and businesses through the pandemic.
Further stimulation would favor equity markets and reinforce prospects for economic growth, said Luc Filip, head of private banking investments at SYZ Private Banking.
“As it is delivered down to the real economy, down to small companies, that will be crucial,” he said.