Dow futures see muted gains Sunday night as Congress strikes last-ditch, $900 billion coronavirus-aid pact

/ / News

U.S. stock-index futures attempted to edge higher but were seeing relatively tepid gains Sunday night, even as Congress reached a deal on a $900 billion coronavirus relief package. Futures for the Dow Jones Industrial Average {s: ym00] rose 93 points, or 0.3%, at 30,210, those for the S&P 500 were flat at 3,707.50, while Nasdaq-100 futures rose 0.2% to reach 12,740.50. The agreement was seen as vital to helping troubled American workers and businesses as the COVID-19 pandemic rages in much of the country. The deal, which would see qualifying Americans receive direct payments of $600 and $300 a week in enhanced federal unemployment benefits, come after the stock market closed mixed on Friday, in the last full trading week of December, with the Dow finishing 124.32 points, or 0.4%, lower at 30,179.05, the S&P 500 closing down 13.07 points, or 0.4%, to end at 3,709.41, after hitting an intraday record high at 3,726.70. The Nasdaq Composite Index lost 9.11 points, or 0.1%, on Friday to close at 12,755.64, after notching its intraday all-time high at 12,809.60. Congressional efforts toward a fresh aid package to combat the detrimental economic effects of the pandemic were coupled with a roughly $1.4 trillion annual fiscal spending package, with lawmakers racing to avert a government shutdown that would have taken effect at 12:01 a.m. Monday
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.