Stocks trading higher ahead of opening bell as COVID-19 optimism driving US markets
Added 01-25-21 05:04:02am EST - “U.S. equity futures? were? trading higher hours ahead of Monday's opening bell as investors were hopeful on two fronts:? Coronavirus vaccines would lead to a strong? economy down the road and another dose of stimulus would be approved…” - Foxbusiness.com
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U.S. equity futures were trading higher hours ahead of Monday's opening bell as investors were hopeful on two fronts: Coronavirus vaccines would lead to a strong economy down the road and another dose of stimulus would be approved in Congress.
The S&P 500 slipped 0.3% to 3,841.47, snapping a three-day winning streak. It notched a 1.9% gain for the week. The index was coming off two straight all-time highs. The Dow Jones Industrial Average dropped 0.6% to 30,996.98. The Nasdaq inched up 0.1% to 13,543.06, another record high. The Russell 2000 added 1.3% to 2,168.76.
Investors weighed another batch of company earnings reports Friday. The big theme in the early part of this earnings season is that most companies are handily beating Wall Street's profits expectations for the last three months of 2020, with banks and some other industries leading the way. About 13% of the companies in the S&P 500 have reported results so far. President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other stimulus for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.
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