Dow Futures Up 73 Points; discusses the details of the Biden stimulus


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By Peter Nurse – US stocks are expected to open mixed on Thursday amid cautious trading as investors await details of additional fiscal stimulus with the political turmoil that continues. At 7:05 am ET (1205 GMT), the contract was up 73 points, or 0.2%, was trading 4 points, or 0.1%, more, and was down 7 points, or 0.1%. Overnight, President Donald Trump became the first president to be indicted twice by the House of Representatives, with all Democrats and 10 Republicans backing the measure to charge him with felonies and misdemeanors for inciting an insurrection. at the United States Capitol last week. The action now moves to the Senate, although at this time it is not known when the upper house begins to discuss this measure, suggesting that impeachment proceedings will drag into the term of President-elect Joe Biden. Biden has other things on his mind at the moment. It is expected to provide more details on its Covid-19 stimulus plans on Thursday afternoon. The incoming president said last week that the “complete package” would total “trillions of dollars,” so expectations for substantial additional fiscal support are high. Coronavirus cases have continued to rise, with the United States setting a new record for deaths in one day, with 4,336 deaths on Tuesday, according to a Reuters tally. More than 384,000 people have died from the Covid-19 virus in the US, and more than 23 million have been infected. There was good news on the subject, as the Johnson & Johnson (NYSE 🙂 experimental single-dose vaccine elicited a long-lasting immune response in an initial safety study. In corporate news, Tesla (NASDAQ 🙂 will be in the limelight after US regulators demanded that the company recall 158,000 of its electric cars over safety concerns. Delta Air Lines (NYSE 🙂 and asset manager Blackrock (NYSE 🙂 increased modestly in premarket trading after reporting fourth quarter earnings. Looking at economic data, the weekly figure is due at 8:30 am ET (1230 GMT), while many investors will also hear a speech from Federal Reserve Chairman Jerome Powell, given the recent talk about phasing out their bonds by the central bank. purchase program. Oil prices fell on Thursday, and traders await the release of the Organization of the Petroleum Exporting Countries monthly report on crude market prospects later in the session. Oil supply data released Wednesday showed a 3.247 million tie. barrels last week, the fifth consecutive week of declines. US crude futures were trading 0.4% lower at $ 52.70 a barrel, while the international benchmark contract fell 0.6% to $ 55.73. Elsewhere, it fell 0.7% to $ 1,842.70 / oz, while it traded 0.1% lower at 1.2151.

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