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S&P, Dow futures drop as stimulus hopes diminish

Published by

December 5, 2024
(GMT+2)

Futures monitoring the S&P 500 and the Dow dropped on Friday as concerns over increasing coronavirus infections and diminishing stimulus threatened to further hamper a sluggish economic revival from a pandemic-fueled downfall.Nasdaq futures increased 0.1% as investors returned to technology stocks that have indicated resilience during the pandemic. Netflix Inc, Amazon.com Inc and Microsoft Corp squeezed higher premarket.In a surprise move on Thursday, US Treasury Secretary Steven Mnuchin said key coronavirus lending programs at the Federal Reserve to support businesses and local governments would expire by the end of the year.The decision to close the program, which was deemed essential by the central bank, comes as data indicates a climb in unemployment claims last week as new business restrictions to control spiraling coronavirus infections unleashed a new wave of layoffs.

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