US stock futures hovered between gains and losses as investors monitored whether the Kovid-19 transition and worsening economic data would prompt lawmakers to strengthen the coronovirus aid package.
The futures of the S&P 500 registered a 0.1% rise, suggesting the benchmark stock gauge would open relatively unchanged after closing another share on Thursday. The futures are tied with the technology-focused Nasdaq-100 Advanced 0.2%.
Top Republicans and Democrats are closing in on a coronovirus relief package that will send direct payments to many Americans, increase unemployment benefits, provide assistance to small businesses and fund disbursements of the Kovid-19 vaccine, among other measures.
Investors have in recent days appealed to the prospect of additional fiscal stimulus in the form of additional Kovid-19 transitions and measures to curb its spread have put a weight on the economy. The data released on Thursday showed that the number of workers receiving unemployment benefits had reached a three-month high.
“There is a clear decline in the US economy,” said Luca Paolini, chief strategist at Pictet Asset Management. “The market expects fiscal stimulus. There will be great disappointment if there is no compromise. “