S&P 500 futures hit record high on stimulus bets

S&P 500 futures hit record high on stimulus bets

Reuters  | Aug 11, 2020 06:30

S&P 500 futures hit record high on stimulus bets

By Medha Singh and Ambar Warrick

(Reuters) - Futures tracking the S&P 500 index hit a record high on Tuesday as investors shrugged off simmering U.S.-China tensions to bet on a stimulus-led economic recovery from the COVID-19 pandemic.

At the current levels, the benchmark index is set to open about 12 points below its Feb. 19 record peak of 3,393.52.

A rally in technology and tech-related companies including Amazon.com (O:AMZN), Netflix Inc (O:NFLX) and Apple Inc (O:AAPL) that thrived during the shutdowns helped the Nasdaq reclaim its all-time high in June, while the blue-chip Dow remains about 6% below its peak.

Market participants are now eager to see an agreement on the fifth federal aid bill to support about 30 million unemployed Americans as the battle with the health crisis was far from over with U.S. cases surpassing 5 million last week.

The S&P 500 closed less than 1% below its record high on Monday as investors extended a rotation into value stocks from heavyweight tech-related names.

At 6:11 a.m. ET, S&P 500 e-minis were up 23.25 points, or 0.69%, topping an all-time high of 3,372.25 points last hit on Feb. 20.

Dow e-minis <1YMcv1> were up 278 points, or 1% and Nasdaq 100 e-minis were up 64 points, or 0.58%.

© Reuters. The front facade  of the of the NYSE is seen in New York

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+

Download the Investing.com App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.

Investing.com is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.

';