A woman takes a selfie with a ‘Charging Bull’ statue on February 17, 2021 in New York City.
Angela Weiss | AFP | Getty Images
Stock futures were flat in overnight trading on Monday after the Dow Jones Industrial Average and the S&P 500 closed record highs, with strong economic data supporting hope for a smooth recovery.
Futures on the Dow Jones Industrial Average and S&P 500 futures were little changed. Nasdaq 100 futures were up 0.2 percent.
Wall Street surged to all-time highs on Monday after reports of heavy employment and a spike in activity gauges in the service industry showed the economic recovery gained momentum amid the opening. Vaccine
“Vaccination is being released in the recording clip, and historic stimulus efforts from Congress have paved the way for continued positive market momentum,” said Chris Larkin, managing director of trade and product investment at E- Trade Financial said.
Bond yields have been quiet again, with the 10-year bond yield stable at 1.71%, easing fears of rising inflation.
Cleveland Federal Reserve Bank Chairman Loretta Mester told CNBC on Monday she was not deeply concerned with government bond yields this year.
“I think that higher bond yields are quite understandable in the context of an upturn in the economic outlook, this increase is an orderly increase,” Meester said. “So I’m not worried right now with the yield increases. I don’t think there is anything for the Fed to respond.”
Investors are still assessing President Joe Biden’s $ 2 trillion infrastructure proposal and the prospect it will become a reality. As politicians on both sides of the corridor funded the rebuilding of America’s roads and bridges. But incompatibilities over the other priorities and the maximum size of the bill remain. There has also been some debate over Biden’s plan to raise corporate taxes to 28% to fund the plan.
Biden said Monday he was not concerned that the corporate tax hike would affect the economy, Conservative Democrat Joe Manshin of West Virginia reported he opposed the proposed tax hike to 28. %