Market Snapshot: U.S. stocks set to kick off holiday-shortened week with gains
U.S. stock-index futures on Monday pointed to a slightly higher open even as data over the weekend highlighted the persistence of coronavirus in hot spots, including Florida, Texas and California, fueling concerns about the economic outlook.How are benchmarks performing? Futures for the Dow Jones Industrial Average YM00, +0.46% YMU20, +0.46% gained 134 points, or 0.5%, at 25,084; those for the S&P 500 ES00, +0.20% ESU20, +0.20% picked up 8.60 points, or 0.3%, at 3,015.
Health and Human Services Secretary Alex Azar said that the “window is closing” to manage the resurgence of the epidemic in the U.S., on Sunday during NBC’s “Meet the Press.” The U.S. recorded more than 42,000 new cases Saturday, according to data compiled by Johns Hopkins University, marking a second straight daily total over 40,000, even if it represented a decline from Friday’s record 45,255 tally. Florida, Nevada, George and South Carolina reported a surge in new cases on Saturday, Politico reported.
Looking ahead, investors are watching for a report on pending home sales at 10 a.m. Eastern time Monday and a manufacturing survey of the Dallas area from the Federal Reserve at 10:30 a.m. New York Fed President John Williams is set to speak at 3 p.m.
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