Stock futures rose on Sunday ahead of a shortened trading week due to the Thanksgiving holiday. Investors are optimistic about the progress of the U.S. economy and the ongoing rollout of COVID-19 vaccines.
Futures tied to the Dow Jones Industrial Average gained 100 points, or 0.3%. S&P 500 futures rose 0.2%, while Nasdaq-100 futures added 0.1%.
The positive momentum comes after a strong week for the stock market, with all three major indexes closing at record highs on Friday. The Dow gained 0.8%, the S&P 500 rose 0.5%, and the Nasdaq added 0.5%.
Investors are closely watching the progress of COVID-19 vaccines as they hope for a return to normalcy in the coming months. Pfizer and BioNTech have applied for emergency use authorization for their vaccine, and Moderna is expected to do the same soon.
In addition to vaccine news, investors are also monitoring the latest developments on Capitol Hill. Lawmakers are working to pass a new stimulus package to help support the economy as the pandemic continues to impact businesses and individuals.
This week will be a shortened one for the stock market, as U.S. markets will be closed on Thursday for Thanksgiving and will have an early close on Friday. Despite the abbreviated trading week, investors are expected to remain active as they continue to assess the economic outlook.
Overall, the outlook for the stock market remains positive as investors remain hopeful about the potential for a strong economic recovery in the coming months. As always, it is important for investors to stay informed and stay vigilant as they navigate the ever-changing market landscape.