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U.S. equity futures suggested a lower open when the Monday session begins on Wall Street.
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NASDAQ COMPOSITE INDEX
The U.S. House of Representatives is likely to vote on President Joe Biden's coronavirus stimulus proposed package by the end of the week. It would include $1,400 checks to most Americans, additional payments for children, and billions of dollars in aid to state and local governments as well as additional aid to businesses impacted by the pandemic.
“But timing is everything," Stephen Innes of Axi said in a commentary. He noted that inflation concerns are overhanging the market, as the economy heals from the pandemic downturn while the Biden administration strives to recover the millions of jobs lost.
SENATOR SEEKS PROBE OF NATURAL GAS PRICE SPIKES DURING STORM
“The next leg of the reflation will have to be carried more and more by a continued recovery in economic growth, as fiscal and monetary stimulus gets increasingly packed into the price," he said.
One challenge is to keep inflation in check and minimize trauma to the markets from adjustments in the Federal Reserve's ultra-supportive monetary policy.
After an impressive start to the year, bullish sentiment is wavering, said Jeffrey Halley of Oanda.