The stock market is close to a record high.
The images are by Angela Weiss.
US stock futures were little changed Monday as investors remained cautiously optimistic about the economic recovery, at the start of a trading week shortened by the Thanksgiving holiday.
S&P 500 futures were up after the benchmark index slipped. A positive start to trading is expected later, as the futures for the 100 were up by a small amount. The US stock markets will close early on Friday.
The tone was positive in Europe, even as investors pondered the reimposition of restrictions on travel due to the rise in COVID-19 cases. The Stoxx 600 was up 0.16% in early trading.
In Asia, the CSI 300 stock index in China rose 0.46%, while the Tokyo's Nikkei 225 closed 0.05% higher. The Hang Seng index was down.
Even though inflation in the US is at a 31 year high, stocks are still strong, prompting central banks to consider cutting back on their stimulatory measures.
The US economy is in a very strong position according to Richard Clarida. He thinks that the Fed may reduce its asset purchases more quickly. The minutes from the central bank's November meeting will be released Wednesday.
President Joe Biden's pick for the next Fed chair is in the spotlight, with the choice between incumbent Powell and noted dove Brainard. Biden is expected to make a decision this week.
The investors worry that the trend of coronaviruses in Europe could affect the global economy. Holiday shopping and businesses in general could be affected by fresh restrictions keeping people at home.
Tough new rules are being brought in by Germany, Austria, Italy, the Netherlands, and Switzerland to try to curb the fourth wave of the virus. The country is planning to make vaccinations compulsory for all citizens.
David Iben's deep value fund is tripling his peers' returns this year as the veteran investor burnishes his reputation. He told us about his top stock picks.
Oil futures rebounded from a sharp fall on Friday, when prices were driven lower by concerns about a demand drop in Europe and signs the US and Japan might give in to calls to release strategic reserves.
On Monday, the price of oil was up 0.21% at $79.11 a barrel, but still well below recent highs. The price of crude rose to $76.17 a barrel.
US bond yields gained slightly. The yield on the 10-year Treasury note went up. The 2-year yield increased by 2.4 basis points.
The dollar index was up 0.05%. It has risen in recent months as the Fed has considered raising interest rates.
After climbing back up to around $60,000 over the weekend, the price of bitcoin was 2.5% to $57,423 on the Bitstamp exchange. Tax changes in President Joe Biden's infrastructure bill, as well as a natural decline after hitting record highs, are some of the factors that have affected the markets.
Business Insider has an original article.
