U.S. stock futures rose slightly Thursday as investors awaited details of the incoming Biden administration’s plans for a fresh coronavirus relief package.
Securities tied to the S&P 500 climbed 0.1%, potentially extending Wednesday’s advance, which lifted the broad-market index to its second-highest level ever. Those linked to the Dow Jones Industrial Average added 0.3%. Nasdaq-100 futures fell 0.1%, pointing to a muted drop in tech stocks.
All eyes are on a speech expected Thursday from President-elect Joe Biden that is set to detail the scale of his proposed spending package to support households and businesses through the pandemic.
Additional stimulus would be favorable for equity markets and reinforce expectations for economic growth, said Luc Filip, head of private banking investments at SYZ Private Banking.
“How it will be implemented down to the real economy, down to small companies, that will be key,” he said.