Dow futures fall 350 points, pressured by worries over a new viral Covid strain in the U.K. CNBC 12/20/2020
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Stock futures traded deep in the red early Monday as enthusiasm over a coronavirus stimulus deal was overwhelmed by worries over a viral new Covid strain in the U.K.
Futures on the Dow Jones Industrial Average lost 320 points, or 1.1%. S&P 500 futures shed 1.4% and Nasdaq 100 futures fell 1.0%. Dow futures were off by more than 600 points at one point.
Now with a stimulus agreed upon, investors may also be seeking to lock in profits after an unexpected banner year. With only two trading weeks left in 2020, the S&P 500 is up 14.8% for the year, while the 30-stock Dow has risen 5.8%. The Nasdaq Composite has rallied 42.2% this year as investors favored high-growth technology companies.
WASHINGTON, D.C. –
U.S. Senate Majority Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding COVID-19 relief:
“For the information of all Senators, and for the information of the American people, we can finally report what our nation has needed to hear for a long time:
“More help is on the way.
“Moments ago, in consultation with our committees, the four leaders in the Senate and the House finalized an agreement.
“There will be another major rescue package for the American people. As our citizens continue battling the coronavirus this holiday season, they will not be fighting alone.
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Here’s what you need to know about the impact of Covid-19 to navigate the markets today.
• Stocks are set to start the trading week up, as equity futures posted gains after Congressional leaders announced a deal on a coronavirus stimulus package. Dow Jones Industrial Average futures were up 26 points, or 0.1%, while S&P 500 futures fell less than 0.1% and Nasdaq Composite futures rose 0.2%. The stimulus deal will be voted on Monday, after lawmakers pass a short-term budget measure Sunday night to avert a shutdown. Tesla will.
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Stock Futures Mostly Up After McConnell Announces Stimulus Deal
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