On February 17, 2021, a woman takes a selfie with the Charging Bull' statue in New York City.
Stock futures held steady in overnight trading Monday after the Dow Jones Industrial Average and S& P 500 closed at record highs with strong economic data boosting hope for a smooth recovery.
Futures on the Dow Jones Industrial Average and S& P 500 Futures were little changed. On Monday, Nasdaq 100 futures edged up 0.2%; Wall Street rallied to record levels after a blowout jobs report and a surge in the gauge of services industry activity showed the economic rebound gained momentum amid the accelerated vaccination rollout.
Vaccinations are rolling out at a record rate, and positive stimulus efforts from Congress have all paved the way for continued positive market momentum, said Chris Larkin, managing director of trading and investing products at E-Trade Financial.
Bond yields had another quiet session with the 10-year Treasury yield at 1.71%, easing fears of rising inflation.
Loretta Mester told CNBC Monday that she is largely unconcerned by the increase in the Federal Reserve yields this year.
I think the higher yields of bonds are quite understandable in the context of the economic improvement.
The increase has been an orderly increase, Mester said, so I 'm not concerned at this point with the rise of yields. I do n't think there is anything for the Fed to react to. Investors continue to evaluate President Joe Biden's$ 2 trillion infrastructure proposal and its chance to become a reality. While politicians on both sides of the aisle support funding to rebuild American roads and bridges, disagreements over other priorities and the final size of the bill remain.
There is also debate over Biden's plan to raise the corporate tax to 28% in part to fund the plan. On Monday, Biden said he was not worried that a corporate tax hike would hurt the economy. The conservative democrat Sen. Joe Manchin of West Virginia reportedly said he opposes the proposed tax increase to 28%.