US equity futures It was trading higher in the new week as 130 companies in the S&P 500, or more than a quarter of the benchmark index, reported January-March results.
Wall Street backed up on Friday, with the S&P 500 giving up 0.7%, but could close their best month this year.
Most markets have rallied in recent weeks as investors remain optimistic that the outbreak is slowly and steadily approaching, at least in the United States.The S&P 500 is up 5.2% in April, the best monthly profit since November 2020, when President Joe Biden was elected.
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U.S. futures were higher, with contracts for the Dow rising 0.3% and the future S&P 500 up 0.2%.
The yield on the 10-year Treasury bill was stable at 1.62%.
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Under Biden, the Dow won the best first 100 days under a new president since Franklin Delano Roosevelt took office in 1933, according to LPL Financial, with a 9.9% return as of April 29. During Trump’s first 100 days in office, former President Donald
The benefits of a massive coronavirus vaccination program have helped people return to work and normal activities after more than a year of restrictions.
The launch of the COVID-19 vaccination, strong support from the US government and the Federal Reserve, and growing positive economic data have driven expectations for a strong economic recovery and economic growth. The organization’s profit this year That helped the stock push higher and kept the index near its all-time high.
Trillions of dollars of government support are helping the U.S. economy recover from the epidemic. The Commerce Department said U.S. household income rose 21 percent last month, driven by the $ 1,400 payout paid to most Americans as part of President Biden’s economic package. Of consumers has increased dramatically in nine months
Biden’s management has also pushed for more infrastructure spending to help stimulate the economy further, although it raised concerns about how it affects taxes and inflation. In paying for his plans, Biden proposed nearly double the tax rate that Americans who make more than $ 1 million in a year pay off stock gains and other investments.The president also wants to impose a minimum 21% tax. For the company’s foreign earnings in a bid to stop companies from collecting profits in countries with low tax rates.
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Corporate income drives recent profits. More than half of the companies in the S&P 500 reported their earnings, showing 54% percent earnings growth for the FactSet benchmark index.
Investors will receive a series of earnings reports starting in May, including results from drugmaker Eli Lilly, Merck, as well as Pepsi, Colgate-Palmolive, CSX railroad and pharmacy giant CVS. Investors will receive the April employment report this week.
On Friday, the S&P 500 closed at 4,181.17, the index was up below 0.1% this week, the Dow Jones Industrial Average fell 0.5% to 33,874.85 and the Nasdaq was down 0.9% to 13,962.68.
The smaller firm’s Russell 2000 index fared worse than the broader market, down 1.3 percent to 2,266.45.
Meanwhile, most of the Asian stocks fell in light trading on Monday, with some markets including Tokyo and Shanghai closed for the weekend.
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In Asia and many other countries, there has been an increase in vaccination volumes and levels of vaccination remain low.
Hong Kong’s Hang Seng slipped 1.5% to 28,307.10 and Kospi in South Korea slid 0.7% to 3,122.92.Australia’s S & P / ASX 200 was up 0.1% to 7,031.00.
India’s Sensex fell 0.8 percent to 48,403.31.The country had 368,147 cases of the novel coronavirus on Monday, including 3,417 deaths due to the catastrophic nationwide.
Shares also fell in Singapore and Taiwan.
In other trading, U.S. benchmark crude fell 38 cents to $ 63.20 a barrel in electronic trading on the New York Mercantile Exchange.It was up $ 1.43 on Friday at $ 63.58 a barrel. International benchmark Brent crude fell 40 cents to $ 66.36 a barrel.
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The US dollar rose to 109.63 yen from 109.30 yen. The euro fell to $ 1.2017 from $ 1.2032.