Stock stocks were flat in trading as investors prepared for a ton of earnings from leading U.S. companies on Tuesday.
Dow futures climbed 40 0 or points. 15%. ) The S&P 500 and Nasdaq-100 stocks climbed 0. 150 and %. 18%, respectively.
Senate Majority Leader Mitch McConnell introduced the Republican coronavirus relief program Monday after the bell. The laws could include relief for unemployed Americans, yet another direct payment to people of up $1,200, more Paycheck Protection Program small company loan funding, among other provisions. McConnell said the bill will put national unemployment insurance in 70percent of an employee’s previous salary, replacing the $600 a week that claims ceased paying this week.
On Monday, the Dow Jones Industrial Average increased over 100 points. The S&P 500 jumped 0. 75%, bringing its own year-to-date profit to almost 0.3%.
The Nasdaq Composite jumped 1.7%, aided by large gains in tech darlings. Netflix climbed more than 3 percent, Amazon gained 1.5percent and Apple climbed almost 2.5 percent.
Gold prices jumped to a new record high on Monday. Spot gold traded as large as $1,943. 927, exceeding the previous record high cost collection in September 2011.
“Together with the U.S. dollar down, it’s a day when all from shares, commodities, bond yields and gold are greater,” Jim Paulsen, chief investment strategist in the Leuthold Group, told CNBC.
The busiest week of earnings season continues on Tuesday with 3M, McDonald’s Pfizer, JetBlue and Raytheon Technologies all set to record ahead of the opening bell.
Visa, Advanced Micro Devices, Amgen, eBay, Mondelez International and Starbucks report after the bell Tuesday.
Investors are also searching for upgrades in Congress, which will be working to pass yet another coronavirus stimulation package.
The Federal Reserve begins its own temporary coverage meeting on Tuesday, followed by an interest rate decision on Wednesday. The FOMC chose to keep the target scope for its federal funds rate at 0-0. 25percent during its final meeting in June since it continued to take care of the effect of the coronavirus (COVID-19) pandemic on the U.S. market.
The Conference Board’s consumer confidence index for July will be published in 10 a.m. on Tuesday. Economists polled by Dow Jones are anticipating a study of 96down from June’s read of 98.1.
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