U.S. Stock Futures Little Changed Amid Covid-19 Concerns

U.S. Stock Futures Little Changed Amid Covid-19 Concerns

U.S. stock futures little changed amid Covid-19 concerns.  Dow Jones and S&P 500 dropped from their record highs in regular trading on Monday. The concerns about a resurgence in Covid-19 cases has also affected the U.S. stock futures

Dow Jones Industrial Average futures fell 25 points. S&P 500 futures also tumbled while Nasdaq 100 futures traded slightly higher.

The Senate is expected to issue a $1 trillion bipartisan infrastructure plan which includes $550 billion in new spending on transportation and broadband as soon as Tuesday. The plan could lead to an economic boost following the reopening of the pandemic.

During Monday’s regular trading, the Dow traded down 106.66 points to 35,101.85, or 0.3%. The S&P 500 fell 0.1% at 4,432.35 while the Nasdaq Composite jumped 0.16% to 14,860.18.

Oil prices tumbled 4% amid concerns that a wave of Covid-19 cases could prompt a demand slowdown. Oil prices recovered slightly Tuesday by 1%.

“Despite the delta variant surge in cases across the U.S., recent mobility data suggest that consumer spending should remain robust,” Jason Pride, a chief investment officer of private wealth at Glenmede, said Monday.

Norwegian Cruise Line and United Airlines also plunged.

Treasury yields climbed after the Labor Department released strong job openings that jumped to 10.1 million for June, while the economists forecasted the 9.1 million.

On Monday, the price of bitcoin rose 5%, the cryptocurrency’s highest price since May.

RealReal’s shares dropped 5% in extended trading after showing a quarterly loss, bringing Poshmark and ThredUp down with it.