U.S. stock futures traded higher in early pre-market trade after President Donald Trump signed the $900 billion COVID-19 relief bill. The House, on Monday, will vote to increase payments to individuals from $600 to $2,000 — a family of four would receive $5,200 under the proposal. Markets were closed on Friday for the Christmas Day holiday.
The Dallas Fed's general activity index for December is scheduled for release at 10:30 a.m. ET. The index is expected to decline to 5 in December versus November’s reading of 12.
Futures for the Dow Jones Industrial Average climbed 191 points to 30,300.00 while the Standard & Poor’s 500 index futures traded rose 29.25 points to 3,724.25. Futures for the Nasdaq 100 index rose 92.25 points to 12,796.75.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 19,136,150 with around 333,120 deaths. India reported a total of at least 10,207,870 confirmed cases, while Brazil confirmed over 7,484,280 cases.
Oil prices traded higher as Brent crude futures rose 0.8% to trade at $51.76 per barrel, while US WTI crude futures rose 0.9% to trade at $48.68 a barrel.
A Peek Into Global Markets
European markets were higher today driven by news of Britain and the European Union signing the long-awaited Brexit deal. The Spanish Ibex Index rose 0.6% and STOXX Europe 600 Index gained 0.6%. The French CAC 40 Index climbed 0.9%, while German DAX 30 gained 1.5%. London's FTSE 100 is closed today for the Boxing Day holiday. Spain's retail sales fell 4.3% year-over-year in November.
Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.74%, China’s Shanghai Composite rose 0.02%, Hong Kong’s Hang Seng Index fell 0.27% and India’s BSE Sensex rose 0.9%. Japan’s industrial production remained flat for November, while Hong Kong’s trade deficit shrank to HKD 25.6 billion in November versus HKD 26.2 billion in the year-ago month.
SVB Leerink initiated coverage on Kinnate Biopharma Inc. KNTE with a Outperform rating and announced a price target of $52.
Kinnate Biopharma shares rose 2.2% to close at $38.00 on Thursday.
- Alibaba Group Holdings Ltd BABA announced plans to raise its stock buyback program by an additional $4 billion. The company’s share repurchase program will now target a $10 billion buyback through the end of 2022.
- Weibo Corporation WB reported upbeat results for its third quarter.
- AstraZeneca Plc’s AZN Covid-19 vaccine could receive approval in the United Kingdom as early as Tuesday, according to the Financial Times.
- Orphazyme A/S ADR ORPH disclosed that the FDA has extended the review period of the NDA for arimoclomol for the treatment of Niemann-Pick Disease Type C by three months.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.