Stock futures surge to start the new year
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Stock futures surged on the first day of trading in 2021, continuing last year's rally, as the prospects for continued fiscal stimulus and coronavirus vaccine rollouts aided investor optimism.
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Dow Jones Industrial Average futures rose 177 points, a gain of 0.6%, while the S&P 500 and tech-heavy Nasdaq Composite both rose approximately 0.5%.
|I:DJI||DOW JONES AVERAGES||30606.48||+196.92||+0.65%|
|I:COMP||NASDAQ COMPOSITE INDEX||12888.282427||+18.28||+0.14%|
The rally extended overseas as well, with the U.K.'s FTSE 100 rising 2.7%, buoyed by the trade deal reached between the British government and the European Union just before Christmas.
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The German DAX and French CACH 40 both climbed 1.7%, respectively.
Shares of Herbalife may be active on Monday after The Wall Street Journal reported that activist investor Carl Icahn has sold more than half of his stake in the company while also relinquishing seats on its board of directors.
Tesla was gaining 2.8% in early Monday trading after the Elon Musk-led company said it delivered almost 500,000 cars in 2020, falling just shy of Musk's previously stated goal.
|CHL||CHINA MOBILE LTD.||28.54||+0.25||+0.88%|
|CHU||CHINA UNICOM LTD.||5.68||-0.09||-1.56%|
China's biggest telecom companies, China Mobile, China Telecom and China Unicom, are under pressure after the New York Stock Exchange said it would delist the three, citing an executive order.
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In other asset classes, bitcoin fell nearly 10% to $32,000, after rallying in the final days of 2020 and first couple of days of 2021, surpassing the $34,000 level.
West Texas Intermediate crude rose nearly 1% to $48.97 per barrel level, while gold jumped higher, gaining more than 2.3% to $1,939.70 an ounce.
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