Stocks Could Set Record, Investors Track Biden’s Stimulus

Stock futures are on the rise Monday after more aid for US citizens comes out of Washington.

The Dow Jones is up 127 points to 31,148.24 (+0.4%) before open, with the S&P 500 up 11.95 points for 3,886.83 (+0.3%) and the Nasdaq up 41 points to 13,856.30 (+0.3%).

Investors say that last weeks solid earnings reports are driving this up-tick, as well as support for President Biden’s $1.9 trillion stimulus plan. Support for the President’s stimulus has increased since the lackluster report on January’s employment numbers was released on Friday.

Apple shares are down this morning by (-0.31%) before open on news that Hyundai Motor Co. denied that it is working with Apple  to develop an autonomous electric car, contrary to multiple reports.

Hasbro Inc. is on the rise this morning (+0.42%), following fourth-quarter profits that exceeded expectations. Energizer is similarly up (+1.30%) following a report on their revenues, which also beat profit and revenue forecasts.

The US Dollar Index (DXY) made a small climb to (+0.19) to hover around 91.14.  The Great Britain Pound (GBP) is down slightly this morning by (-0.30%), hovering around $1.36 in USD value. The Chinese Yuan has remained relatively neutral with no gains, while the Japanese Yen is up (+0.08%), with modest gains on Monday.

Gold futures made some headway this morning, jumping up (+0.5%) or $8.60, bringing the price per ounce to $1,821.60.  Silver is similarly up (+1.67%), trading at around $27.50 per ounce. Platinum sees decent gains (+3.88%), brining the price per ounce to $1,171.15 per ounce.

Crude oil is ahead as well (+1.25%), trading at $57.49 per barrel on the New York Mercantile Exchange.

In foreign markets, the Stoxx 600 Europe is trading (+0.64%) higher, followed by London’s FTSE 100, trading at around (1%) higher this morning. The Shanghai Composite ended 1% higher yesterday, with the Hong Kong Hang Sang (HSI) making modest gains of (+0.1%). The Japanese Nikkei (NIK) made an impressive leap to (+2.1%).


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