Finance News

US inventory futures stay forward of key earnings

Stock futures remained unchanged in overnight trading as investors prepared for a series of profits from large US companies on Tuesday.

Dow futures rose 40 points, or 0.15%. The S&P 500 and Nasdaq-100 futures rose 0.15% and 0.18%, respectively.

Senate majority leader Mitch McConnell unveiled the Republican Coronavirus Relief Plan Monday after the bell. The legislation would include relief for unemployed Americans, another direct payment up to $ 1,200 to individuals, more loan funds for the small business paycheck protection program. McConnell said the bill would set federal unemployment insurance at 70% of an employee's previous wages and replace the $ 600 a week that states are no longer paying this week.

The Dow Jones Industrial Average rose more than 100 points on Monday. The S & P 500 gained 0.75% and has grown almost 0.3% since the beginning of the year.

The Nasdaq Composite rose 1.7%, supported by large gains in technology favorites. Netflix grew by more than 3%, Amazon by 1.5% and Apple by almost 2.5%.

Gold prices reached a new record high on Monday. Spot gold was traded up to $ 1,943,927, exceeding the record price set in September 2011.

"With the fall of the US dollar, it's a day when everything from stocks, commodities, bond yields and gold is higher," Jim Paulsen, chief investment strategist at Leuthold Group, told CNBC.

The busiest week of the winning season continues on Tuesday. 3M, McDonald & # 39; s Pfizer, JetBlue and Raytheon Technologies will report before the opening bell.

Visa, Advanced Micro Devices, Amgen, eBay, Mondelez International and Starbucks report on Tuesday after the bell.

Investors will also be looking for updates from Congress, which is working to adopt another coronavirus stimulus package.

The Federal Reserve begins its two-day session on Tuesday, followed by an interest rate decision on Wednesday. At its last meeting in June, the FOMC decided to keep the federal government interest rate target at 0-0.25% as it continued to address the impact of the pandona virus pandemic (COVID-19) on the US economy.

The Conference Board Consumer Confidence Index for July will be released on Tuesday at 10 a.m. Economists surveyed by Dow Jones expect a value of 96 versus 98.1 in June.

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