Wall Street futures trading higher.
The Dow Jones rose 0.83% to a record 31,188.38 units. The selective S&P 500 also reached levels never seen before, which rose 1.39% to 3,851.85 integers and the Nasdaq Composite Index increased 1.97% to 13,457.25 points.
Analysts point out that there are several factors behind this strength in Wall Street futures. They underline the commitment shown by the new US Administration for the injection of new fiscal stimuli to the US economy and the recent statements by several members of the Federal Reserve Open Market Committee (FOMC), that the ultra-lax monetary policies that the institution has been applying are here to stay.
President Joe Biden released details of his plan against the Covid 19 pandemic on Wednesday, announcing 10 executive orders aimed at increasing testing, speeding up the vaccination pace, providing more funding to city councils and making more supplies like face masks. According to experts, yesterday was the best day in a takeover for the US market in the last 36 years.
Experts also mention the stabilization in recent days of long-term interest rates in the US, after the strong rebound experienced recently by them, the realization that inflation is not a problem, for the moment and the great start of the quarterly results presentation season, both in the main European markets and above all, on Wall Street.
Today, Wall Street futures traded moderately higher, with the Dow Jones and the S&P 500 at 0.20% and the Nasdaq close to half a percentage point.