Stock market news live updates: Stock futures point to a higher open amid vaccine optimism

Stock futures rose Tuesday morning, with the S&P 500 closing in on a record level as hopes for a vaccine and further stimulus spurred a global risk rally.

Russia’s President Vladimir Putin said Tuesday that Russia became the first country globally to give regulatory approval to a Covid-19 vaccine, with the move coming less than two months after human testing of the inoculation began. The vaccine still must complete final trials, though mass production is expected by the end of the year.” data-reactid=”17″ type=”text”>Russia’s President Vladimir Putin said Tuesday that Russia became the first country globally to give regulatory approval to a Covid-19 vaccine, with the move coming less than two months after human testing of the inoculation began. The vaccine still must complete final trials, though mass production is expected by the end of the year.

WYNN), Norwegian Cruise Line Holdings (NCLH), Carnival Corp. (CCL) and a host of airlines jumped amid the vaccine news, and after InterContinental Hotels (IHG) suggested an improvement in travel demand in first-half results released before the bell on Tuesday. The commentary added to other recent upbeat assessments of consumer sentiment around travel, with Marriott (MAR) on Monday also suggesting travel trends were improving from an April low. Chinese electric car-maker Nio (NIO) rose after giving strong deliveries and revenue guidance for the current quarter.” data-reactid=”22″ type=”text”>Shares of travel companies including Wynn Resorts (WYNN), Norwegian Cruise Line Holdings (NCLH), Carnival Corp. (CCL) and a host of airlines jumped amid the vaccine news, and after InterContinental Hotels (IHG) suggested an improvement in travel demand in first-half results released before the bell on Tuesday. The commentary added to other recent upbeat assessments of consumer sentiment around travel, with Marriott (MAR) on Monday also suggesting travel trends were improving from an April low. Chinese electric car-maker Nio (NIO) rose after giving strong deliveries and revenue guidance for the current quarter.

FB), Amazon (AMZN) and Netflix (NFLX) steadied in pre-market trading after declining on Monday. US crude oil futures added to gains after rising by the most in nearly 3 weeks as of Monday’s settlement. Gold stumbled below $2,000 per ounce, and Treasury yields rose as prices fell.” data-reactid=”23″ type=”text”>Energy, industrial and materials shares had led the S&P 500 to its seventh straight session of gains by market close Monday, bringing the blue-chip index to within 0.8% of its record closing high from February. Shares of Facebook (FB), Amazon (AMZN) and Netflix (NFLX) steadied in pre-market trading after declining on Monday. US crude oil futures added to gains after rising by the most in nearly 3 weeks as of Monday’s settlement. Gold stumbled below $2,000 per ounce, and Treasury yields rose as prices fell.

some states to push back, and New York Governor Andrew Cuomo said the order to have states chalk up a portion of the funds the proposed enhanced unemployment benefit “only digs the hole deeper” for states already grappling with budget deficits. Further stimulus discussions in Congress, however, hang in abeyance.” data-reactid=”24″ type=”text”>Investor attention remained locked on prospects of further fiscal stimulus from Congress, after President Donald Trump over the weekend unleashed a set of executive orders to provide some economic support without congressional action. The moves have already led some states to push back, and New York Governor Andrew Cuomo said the order to have states chalk up a portion of the funds the proposed enhanced unemployment benefit “only digs the hole deeper” for states already grappling with budget deficits. Further stimulus discussions in Congress, however, hang in abeyance.

considering a capital gains tax cut.” data-reactid=”25″ type=”text”>During remarks late Monday, Trump added that he was considering a capital gains tax cut.

9:26 a.m. ET: General Motors’ CFO Dhivya Suryadevara resigns

GM) announced Tuesday its Chief Financial Officer Dhivya Suryadevara was resigning to pursue an opportunity outside the auto industry. John Stapleton, GM North America chief financial officer, was named acting global CFO, effective Aug. 15. ” data-reactid=”30″ type=”text”>General Motors (GM) announced Tuesday its Chief Financial Officer Dhivya Suryadevara was resigning to pursue an opportunity outside the auto industry. John Stapleton, GM North America chief financial officer, was named acting global CFO, effective Aug. 15. 

General Motors is conducting an internal and external search for a successor to Suryadevara, the company added.

8:31 a.m. ET: Producer prices rebound more than expected in July, rising by the most in two years

The Bureau of Labor Statistics’ producer price index (PPI) rose more than expected in July, as pricing power improved for suppliers as demand came back online.

Headline producer prices rose 0.6% in July month over month for the biggest monthly jump since October 2018, after a 0.2% decline in June, the BLS said Tuesday morning. Consensus economists had been looking for a rise of 0.3%, according to Bloomberg-compiled estimates.

Excluding more volatile food and energy prices, PPI still rose 0.5% over last month, versus a tick up of just 0.1% expected. Over last year, this core measure of underlying producer price trends increased 0.3%, following a 0.1% year over year increase in June.

7:35 a.m. ET Tuesday: Stocks point to higher open

Here were the main moves in markets, as of 7:35 a.m. ET:

  • S&P 500 futures (ES=F): 3,371.25, up 18.5 points, or 0.55%

  • Dow futures (YM=F): 27,936.00, up 257 points, or 0.93%

  • Nasdaq futures (NQ=F): 11,104.00, up 32 points, or 0.29%

  • Crude (CL=F): $0.80 ( 1.91%) to $42.74 a barrel

  • Gold (GC=F): -$48.40 (-2.37%) to $1,991.30 per ounce

  • 10-year Treasury (^TNX): 3.4 bps to yield 0.608%

6:15 p.m. ET Monday: Stocks open slightly lower

Here were the main moves in equity markets, as of 6:15 p.m. ET:

  • S&P 500 futures (ES=F): 3,350.00, down 2.75 points, or 0.08%

  • Dow futures (YM=F): 27,667.00, down 12 points, or 0.04%

  • Nasdaq futures (NQ=F): 11,064.75, down 7.25 points, or 0.07%

NEW YORK, NEW YORK – MARCH 20: Traders work on the floor of the New York Stock Exchange (NYSE) on March 20, 2020 in New York City. Trading on the floor will temporarily become fully electronic starting on Monday to protect employees from spreading the coronavirus. The Dow fell over 500 points on Friday as investors continue to show concerns over COVID-19. (Photo by Spencer Platt/Getty Images)

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