- US stocks traded mixed on Monday as investors looked to major earnings on deck this week and awaited the GOP coronavirus stimulus plan, set to be introduced today.
- Gold jumped to a record high, driven by an uptick in new coronavirus cases that have added to economic uncertainty.
- Shares of Moderna surged after the company said it received an additional $US472 million in funding for its COVID-19 vaccine.
- Read more on Business Insider.
US stocks opened mixed at the open on Monday as investors looked to major earnings set to be released this week and awaited the GOP coronavirus stimulus plan, set to be introduced today.
Gold surged to an all-time high as growing new coronavirus cases added to economic uncertainty in the US and around the world.
This week, a number of companies including tech giants Apple, Amazon, and Alphabet are slated to report earnings. Earnings from McDonald’s, Pfizer, and AMD will also be released this week.
Here’s where US indexes stood at the 9:31 a.m. ET market open on Monday:
- S&P 500:3,219.55, up 0.13%
- Dow Jones industrial average: 26,441327, up -0.11% (28.57 points)
- Nasdaq composite:10,420.46, up 0.55%
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Investors are also closely watching developments on the GOP’s coronavirus stimulus plan, which is set to be introduced Monday. Over the weekend, the extra $US600 weekly unemployment benefit expired, leaving millions of Americans without the additional money until a new plan is set in place.
Next, Republicans will begin negotiations with Democrats over the stimulus bill. On Sunday, Treasury Secretary Steven Mnuchin said he sees no reason why talks can’t move quickly.
Also this week, the Federal Open Market Committee’s policy meeting begins Tuesday, with an announcement set for Wednesday.
Shares of Moderna surged after the company said it received an additional $US472 million of funding for its coronavirus vaccine. Phase 3 trials for the experimental vaccine begin today.
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