U.S. stock futures slightly lower after Friday’s record-setting session

U.S. stock futures were slightly lower early Monday following a record-setting session as Wall Street searched for clues on additional fiscal aid. Dow Jones Industrial Average futures traded lower by 74 points, or 0.25%. S&P 500 were lower by 0.25%, and Nasdaq 100 futures traded near flat.

The major averages posted intraday and closing all-time highs on Friday, with the Dow popping more than 200 points. The S&P 500 and Nasdaq Composite advanced 0.9% and 0.7%, respectively. Those gains came even after the release of disappointing U.S. jobs data. The Labor Department reported that 245,000 were created in November. Economists polled by Dow Jones had forecast that 440,000 were added last month.

The disappointing print also gave stocks a boost by lifting expectations of a new fiscal stimulus package being passed before year-end. Lawmakers had been at a stalemate over additional fiscal aid for months before last week, raising concern about the economic recovery from the coronavirus pandemic.

More than 14 million Covid-19 cases have been confirmed in the U.S. along with over 282,000 coronavirus-related deaths, according to data from Johns Hopkins University. Hospitalizations have also reached record levels in the U.S. The increasing number of coronavirus cases has led some states and cities to reimpose stricter social distancing measures to curb the outbreak.

U.S. stock futures slightly lower after Friday’s record-setting session, CNBC, Dec 7