Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures remained stable in overnight trading on the Sunday before the last trading week of 2020.
The Dow Jones industrial average futures fell 30 points. S&P 500 futures fell 0.1% and Nasdaq 100 futures remained little changed.
Investors kept track of the status of the $ 900 billion Covid-19 relief bill, which was passed by both chambers of Congress, but not signed into law by President Donald Trump. His face threatens to shut down government when funding comes out Tuesday at 12:01 a.m. Trump has criticized just $ 600 bill payments to Americans, calling for $ 2,000 checks instead.
“Trump has turned what is usually one of the slowest weeks of the year into a very eventful time as investors look to see if the House can cross its defensive cross and will it make good on its understandable risk to stop the budget / incentive legislation, “Adam Crisafulli, founder of Vital Knowledge, said in a note.
Millions of Americans lost unemployment benefits as the Pandemic Unemployment Assistance program ended overnight.
Wall Street is coming off a quiet holiday week where the big averages post flat rates. The S&P 500 fell 0.2% last week as some investors brought in the slits until the end of the year. The 30-stock Dow gained a 0.1% gain for the same period.
Profit picks could ramp up in the final week of the year, which so far has returned to a strong pace. The S&P 500 has gained 14.6% so far, while the Dow has risen 5.8%. The Nasdaq has risen 42.7% this year as investors favored high-tech names during the Covid-19 pandemic.
Dr. Anthony Fauci warned on Sunday that the country would see an increase in new Covid-19 infections following the Christmas and New Year celebrations. Two vaccines by Pfizer and Moderna have begun the rollout process this month. To date, more than a million people in the United States have been vaccinated.
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