S&P 500 sets sights on all-time high even as travel-related stocks face pressure
U.S. stock futures were rising on Monday, with technology set to take the lead, while the S&P 500 was hinting at another record as the last week of trading for the year gets under way.
How are stock-index futures trading? Ahead of the long holiday weekend, Thursday’s session saw the S&P 500 rise 0.6% to 4,725.79, a new closing record. The Dow Jones Industrial Average DJIA, +0.55% gained 196.67 points, or 0.6%, to end at 35,950.56 and the Nasdaq Composite COMP, +0.85% climbed 0.9% to 15,653. For the week, the Dow rose 1.7%, the S&P 500 gained 2.3% and Nasdaq added 3.2%.
Thousands of flights were canceled across the globe over the weekend as surging COVID-19 infections triggered quarantines for airline staff. Shares of American Airlines AAL, , Delta Air Lines DAL, +0.43% and United Airlines UAL, +0.67% were down over 2% in premarket trading, with cruise operator Carnival CCL, -0.24% down nearly 3%.While travel was a mess, the retail side of the economy appeared to be holding up, with Mastercard Spending Pulse reporting that holiday sales rose 8.
Read: The stock market hasn’t been this stomach-churning in December since 2018. Here’s the setup for the year’s final week.
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