FOX News contributor Brian Brenberg breaks down the legislation and what it means for Americans.
US futures are trading higher before the market opens on Wednesday, after President Trump suggested he could veto a $ 900 billion economic aid package.
Overnight, futures indices returned from a 0.7% loss to a 0.2% Dow futures gain.
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Trump criticized the aid plan approved by Congress. He urged lawmakers to raise payments to the public.
Meanwhile, investors’ nerves have been shaken by the emergence of a new variant of coronavirus in the UK, which is spreading more easily. This has led to about 40 governments banning travel from the UK.
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With the approach of Christmas, investors will have a complete economic data board that could influence trading.
Ahead of the opening bell, reports on last week’s initial unemployment claims, personal income and expenditure for November and durable goods orders will also be published. Later in the morning, November, new home sales, consumer sentiment for December and energy stocks will be reported.
In Europe, the London FTSE fell 0.1%, the German DAX gained 0.6%, and the French CAC gained 0.5%.
In Asia, Nikkei 225 in Tokyo gained 0.3%, Hang Seng in Hong Kong gained 0.9%, and the Shanghai Composite Index in China rose 0.8%.
Investors hope that a new package of aid from Congress will support the economy until the launch of coronavirus vaccines will revive the activity of companies and consumers.
| ticker | Security | The last one | Change | Change% |
|---|---|---|---|---|
| I: DJI | MEDIA DOW JONES | 30015.51 | -200.94 | -0.67% |
| SP500 | S&P 500 | 3687.26 | 7.66 | -0.21% |
| I: COMP | NASDAQ COMPOSITE INDEX | 12807.918218 | 65.40 | + 0.51% |
On Tuesday, the S&P 500 fell to 3,687.26. About 65% of the companies in the index fell. Communications services, financial companies and other companies accounted for a large share of sales. Technology companies have grown. The Dow Jones industrial average fell 0.7% to 30,015.51. Nasdaq Composite rose 0.5% to a record 12,807.92.
Two reports on Tuesday added to discouraging economic data.
One showed that consumer confidence fell more than expected this month. Another showed that the hot real estate market is slowing down.
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In the energy markets, US benchmark oil lost 4 cents to $ 46.98 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 72 cents to $ 47.02 on Tuesday. Brent crude, the basis for international oil prices, fell 3 cents to $ 50.05 a barrel in London. It shed 83 cents in the previous session at $ 50.08 a barrel.
The Associated Press contributed to this report.