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Stock futures indicate an extension of the record-breaking rally

US equity futures rose on Tuesday, indicating that key benchmarks may extend their rally daily After closing records.

Futures linked to the S&P 500 and the Dow Jones Industrial Average rose 0.4%. Both indices closed at all-time highs on Monday. The contracts on the Nasdaq 100 rose 0.4%, indicating that technology stocks will rise as well.

Shares are rising in the final days of the year, driven in part by cheap money that central banks and governments have released to protect the global economy from the coronavirus pandemic. The S&P 500 is up more than 15% this year, based on its 29% gain in 2019, while the Nasdaq Composite Index is up over 43% in 2020 alone.

“Some people are drifting in the race for records.“ Market momentum is pushing and exceeding these record levels, ”said Karsten Brzeski, global head of macro research at Inc.

ING Group.

ING 0.10%

“They are imaginary thresholds, but standards can live their own lives and that is happening now.”

Trading volumes are usually thinner in the last days of the year with many people on vacation, which can inflate market movements.

The House of Representatives voted Monday to increase direct federal payments to $ 2,000, clearing the way for the Senate to consider the proposed bill.


Lea Meles / Reuters

Investor sentiment also got a boost after the House of Representatives approved a bill on Monday Increase the size of incentive checks to $ 2,000, From $ 600. The measure is now heading to the Senate, where its fate is uncertain. Senate Majority Leader Mitch McConnell (R., Kentucky) has not commented on whether he will adopt the bill.

“Markets don’t necessarily take the potential increase for granted, but there is an exhilaration that it could escalate.” “This is being priced in part,” said Mr. Brzeski.

The WSJ dollar index, which measures the greenback against another basket, fell 0.3% to its lowest level in more than a week.

In bond markets, the yield on the 10-year Treasury rose to 0.946% from 0.932% on Monday.

at the same timeCoronavirus pandemic The rush continues as US hospitalization rates hit a new high on Monday. Intensive care units are also under pressure.

“There is this mix of lockdowns, virus outbreaks and new strains, but investors are still underscoring the flow of positive news about this,” said Jeroen Blokland, president of Robeco’s Multiasset.

In pre-market trade, Snap is up more than 3.5% after Goldman Sachs analyst raised price target on Snapchat app developer.

Abroad, the Stoxx Europe 600 continental index is up 0.8%.

In the UK, where the markets reopened on Tuesday, the main FTSE 100 stock index rose 2% as investors cheered The post-Brexit deal is struck on Christmas Eve. British and European officials have reached an agreement that includes a free trade agreement, ending more than four years of uncertainty.

The Brexit deal will help feel the risk. “With investors returning to the office for the first time since Christmas, people are looking into the details of the deal,” said James Athy, director of investment at Aberdeen Standard Investments.

Among the European stocks,


It jumped nearly 4% after reports that the pharmaceutical company’s Covid-19 vaccine may be approved by the UK government in the coming days.

British banks were among the worst performers, with

Lloyds Banking Group

Slipping approximately 4%,


Falling 2.5% and

NatWest Group

Down 3%. It is not entirely clear how the Brexit deal will affect financial services.

In Asia, most of the major indices rose as trading closed. Japan’s Nikkei 225 index rose 2.7%, ending the day at a 30-year high. Hong Kong’s Hang Seng Index is up 1%, while the Shanghai Composite is down 0.5%.

“The momentum in Asian stocks shows that this vaccine-driven rally is becoming global,” said Mr. Blokland. As for 2021, we are quite optimistic, and we believe that the economic recovery will resume [the first quarter] The incentive support from the United States will help. “

Write to Anna Hirtenstein at

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