• Funding
  • Investing
  • Lending
  • Insurance
  • Banking
  • Wealth
  • Fintech
  • Venture
  • Crypto
Subscribe
No Result
View All Result
  • Equity Funding
  • Stocks
  • Mutual Funds
  • Credit Cards
  • Loans
  • Insurances
  • Savings
  • Crypto Trading
Home News Feed Stock Market

Dow futures rise more than 100 points after Wall Street’s record-setting jump on Monday

CNBC NewsbyCNBC News
December 29, 2020

U.S. stock futures were higher early Tuesday morning following a rally that lifted the major averages to fresh record highs.

Dow Jones Industrial Average futures traded 152 points higher. S&P 500 and Nasdaq 100 futures also both traded in positive territory.

The Dow jumped 204 points, or 0.7%, earlier in the day, while the S&P 500 and Nasdaq Composite climbed 0.9% and 0.7%, respectively.

Those gains came after President Donald Trump signed a $900 billion coronavirus relief package into law. The measure includes a direct payment of $600 to most Americans. The signing came days after Trump demanded a $2,000 direct payment. The House passed a bill to increase the direct payments to $2,000, but the GOP-led Senate is unlikely to pass the measure.

“The combination of vaccine rollouts, fiscal stimulus, and easy monetary policy continues to create a positive backdrop for equities going into 2021,” wrote Mark Haefele, chief investment officer at UBS Global Wealth Management. “The agreement on a fresh U.S. fiscal stimulus package removes a recent hurdle, and global central banks continue to support the recovery by maintaining (and extending) monetary accommodation.”

Monday’s rally put the S&P 500 up 15.6% for the year and the Dow up 6.5% over that time period. The Nasdaq Composite, meanwhile, has surged more than 43% in 2020 as investors flocked into major tech names such as Apple, Amazon and Facebook.

The number of coronavirus cases keeps rising in the U.S., however, casting doubt over the economic recovery heading into the new year. Over the past week, at least 184,000 new infections have been reported in the U.S. per day, according to a CNBC analysis of Johns Hopkins University data.

“Vaccine distribution has now officially begun … yet the pandemic has reached concerning levels on multiple fronts,” wrote Jason Pride, CIO of private wealth at Glenmede.

“The viral resurgence has induced lockdown measures throughout the country, stunting economic reopening efforts. If the viral spread is not brought under control by year-end, it will likely be a key initiative to do so in early 2021 before a vaccine has become widely distributed,” Pride added.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Read The Original Article on CNBC News

Related Topics

Personal Finance

Powerball surges to $730 million. Do this first if you win

Stocks making the biggest moves midday: Poshmark, JPMorgan, Wells Fargo, Zoom, Spotify & more

Prev Next

You May Like

Personal Finance

Powerball surges to $730 million. Do this first if you win

Stocks making the biggest moves midday: Poshmark, JPMorgan, Wells Fargo, Zoom, Spotify & more

Bitcoin

Donald Trump Banned From Twitter in Final Days of Presidency

Investing

Fintech start-up SoFi to go public via SPAC backed by Chamath Palihapitiya

Financial News

Advisory

How advisors figure out which ESG funds are a good fit for socially conscious clients and their portfolios

CNBC News
by CNBC News
Investing

Big investors see a great backdrop for stocks as election results roll in

CNBC News
by CNBC News
Bitcoin

Market Wrap: Bitcoin Surpasses $15.3K; Ether Up 210% in 2020

CoinDesk
by CoinDesk
Bitcoin

IDEX Plants a Flag for a Multichain Future, Beginning With Binance Chain and Polkadot

CoinDesk
by CoinDesk
Advisory

New Covid relief bill boosts tax breaks for charitable giving in 2021

CNBC News
by CNBC News
Wealth

Preflight Covid-19 testing is on the rise — the question is whether it works

CNBC News
by CNBC News
Personal Finance

This comic was $2 short of getting Trump’s $300 weekly unemployment benefit. Now, he’s on the edge of financial ruin

CNBC News
by CNBC News
Stock Market

Watch Fed Chair Jerome Powell speak live at a European Central Bank forum

CNBC News
by CNBC News
Load More

© 2020, FinanceLane

Home | Contact | Terms and Conditions | Disclaimer | Privacy Policy

  • Home
  • News Feed
    • Equity Funding
    • Debt Funding
    • Crowdfunding
    • Real Estate Funding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Private Equity
    • Merging & Acquisition
    • Real Estate
  • Lending
    • Personal Loan
    • Business Loan
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Auto Insurance
    • Education Insurance
    • Health Insurance
  • Banking
    • Business Banking
    • Payments Bank
    • Investment Banking
    • Individual Banking
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Alternative Financing
    • Payments
    • Asset Management
    • Digital Banks
    • Softwares
  • Venture
    • Startup Ecosystem
    • Merging & Acquisition
    • Equity Investing
    • Franchising
    • Business Offers
  • Fintech
    • Alternative Financing
    • Asset Management
    • Digital Banks
    • Softwares
    • Payments
  • Crypto
    • Crypto Investing
    • Crypto Trading
    • Crypto Coins
    • Bitcoin
    • Blockchain
    • DAPP
  • Subscribe
  • Contact
  • Login

© 2020 FinanceLane - Terms and Conditions | Disclaimer | Privacy Policy

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

← The next round of stimulus checks is on the way. What you need to know ← Can XRP Token Price Ever Recover from SEC Lawsuit Against Ripple?
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.