Dow Futures Down 223 Points; Stimulus talks stall By

© Reuters

By Peter Nurse – US stocks are expected to open lower on Friday as lawmakers continue to prevaricate a new coronavirus relief package as the economic outlook weakens.

At 7:05 AM ET (1205 GMT), the contract fell 223 points, or 0.7%, traded 30 points or 0.8%, lower and fell 95 points, or 0.8%.

These cash ratios are on track for a losing week, which would be the first of three for him and him, and the first of four for him.

Agreement on a new coronavirus stimulus package remains frustratingly distant, after Republican Senate leaders on Thursday rejected a $ 908 billion aid package proposed by a bipartisan group of lawmakers.

Despite recent attempts to try and reach an agreement, lawmakers have yet to resolve disagreements over aid to state and local governments, as the surge in Covid-19 cases continues to hurt the economy.

Weekly jumped to 853,000 on Thursday, the most since mid-September. This continues to grow by just 245,000 last Friday, a sharp slowdown from the 610,000 jobs created the previous month.

On the bright side, the US Food and Drug Administration is likely to authorize Pfizer’s Covid-19 vaccine for emergency use in the US in the very near future, after a panel of experts gave his approval Thursday night.

The launch of this vaccine will be badly needed as cases in the US reach record levels, with a number of Covid deaths exceeding 3,000 on Thursday for the second day in a row, and states announce more restrictions.

In the corporate sector, Airbnb (NASDAQ 🙂 will be in the spotlight after shares of the shared housing site more than doubled on its first day of trading on Thursday, continuing the streak of initial public offerings after the debut of Doordash (NYSE 🙂 on Wednesday.

As for the economic data board, November is due at 8:30 am ET (1230 GMT), while the preliminary reading of consumer confidence for December is due two hours later.

Oil prices fell on Friday, consolidating after the previous session’s strong rebound, due to continued enthusiasm that the launch of the Covid-19 vaccine will result in a rebound in demand next year.

futures were trading 0.3% lower at $ 46.66 a barrel, while the international benchmark contract fell 0.5% to $ 50.02, after rising above $ 50 for the first time since March. Both benchmarks are on track to post their sixth consecutive week of earnings.

On the other hand, it fell 0.1% to $ 1,836.65 / oz, while it traded 0.2% lower at 1.2115.

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