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(For a blog about the U.S. stock market, click or enter LIVE/ in a news window).
– Hiking Futures: Dow 0.87%, S-P 0.74%, Nasdaq 0.86%
By Medha Singh
24 Ago (Reuters) – U.S. Inventory Index Futures rose Monday when approval by the country’s most sensible pharmaceutical regulator for emergency use of antibody-rich blood plasma in COVID-19 patients raised hopes for remedition and increased bets on faster economic recovery. The U.S. Food and Drug Administration resolution Using plasma from recovered patients was well received by President Donald Trump and came a day after she was accused of obstructing the deployment of remedies for political reasons.
A report that the Trump administration plans to boost an experimental COVID-19 vaccine developed through AstraZeneca Plc and Oxford University for use in the United States before the election has also helped boost market sentiment.
The news comes on the eve of the Republican National Convention, where Trump will be named leader of his party for 4 years, kicking off the final race on Election Day on November 3.
The S-P 500 and the Nasdaq closed at historic highs on Friday, the last 4 weeks of betting gains that technology-centric corporations will emerge more powerful from the pandemic and that the economy will do so with ongoing financial and fiscal support.
However, the Dow Jones is still 6% below its February peak.
Meanwhile, the next phase of government aid to coronaviruses remained elusive, as top Democrats and Republicans continued to blame others for stalled legislative talks.
A key occasion this week will be Federal Reserve Chairman Jerome Powell’s speech at the Kansas City Fed’s Jackson Hole Symposium, where he will talk about the revision of the financial policy framework.
At 0616 ET, Dow e-minis rose 241 points, or 0.87%, S-P 500 E-minis up 25 points, or 0.74%, and Nasdaq’s 100 e-minis climbed 99 points, or 0.86%.
Among consistent percentages, Apple Inc gained another 1.8% before going on the market and on track to open above $500 consistent with a consistent percentage for the first time. The iPhone manufacturer has become the first U.S. state-owned company. At crossing a market price of $2 trillion last week. (Report by Medha Singh in Bengaluru; edited through Arun Koyyur)